RDPX Token Swap and Redenomination Plan
Emerging from the rich legacy of Dopex in DeFi innovation, we are excitedly unveiling our new chapter as Stryke. This evolution stems from fine-tuning our focus on cutting-edge options products. We are transitioning to Stryke to offer token holders better value, streamline operations, and focus on delivering superior options products that benefit our users.
As part of this transition, we are also introducing a new token model for improved governance and cross-chain functionality. We will move from a dual token model (DPX & rDPX), to a unified and efficient single token system (SYK). This change simplifies our operations and sharpens our focus.
Quick SYK Token Summary:
- Simple Conversion: The transition will follow a straightforward conversion rate of 1 DPX = 100 SYK and 1 rDPX = 13.333 SYK. This means that DPX and rDPX holders will all get the equivalent amount SYK once the migration process begins. veDPX holders will also be able to migrate to our xSYK governance (more details below) with ease.
- Token Supply: SYK will have a total supply of 100 million tokens. Aligning with our conversion ratios, 50 million of these tokens will represent DPX and 30 million rDPX.
- Circulating Supply: At the time of the merge, the circulating supply of SYK will be approximately 47.8 million, calculated by scaling the current circulating supplies of DPX and rDPX.
- Strategic Allocation: Of the total SYK supply, 12.2 million tokens will support the Protocol Treasury for operational expenses, with 40 million tokens designated for future emissions and strategic initiatives. This setup aims for an annual inflation rate of ~3%, ensuring sustainable growth and reward distribution.
- Cross-Chain Functionality: SYK tokens will be part of a new contract launched on Arbitrum One, ensuring cross-chain operability and seamless migration, facilitating liquidity utilisation across various chains.
- SYK Contract Address: 0xACC51FFDeF63fB0c014c882267C3A17261A5eD50
