RICH

$RICH is the fixed supply share token of Richie Finance. It is designed to reward liquidity participation and provide access to CASH expansion rewards through staking in The Yacht Club.

RICH has no price peg. Its value depends on market demand, supply, liquidity, and expectations about the protocol's future activity.

How RICH works

The Marina distributes RICH as an incentive reward for staking CASH/PDAI or RICH/PLS LP tokens, it plays an important role in deepening PDAI liquidity on chain. Holders may then stake RICH in The Yacht Club to earn newly minted CASH rewards during expansion periods. Staking RICH shares is the only way to earn newly minted CASH tokens.

Supply and distribution

RICH shares can only be earned by staking LP tokens in The Marina. Its total fixed supply is 50,001. The Marina rewards 40,000 of these RICH shares to LP stakers linearly over 1 year and 10,000 vest to the treasury to be used for rebate purchases, team, marketing payments as well as other possible additional community incentive programs. 1 RICH share is minted on contract deployment and is used to create the RICH/PLS LP pair on Pulsex.

What 'share' means here

Share token describes RICH's role in the protocol's incentive system and its share of the protocols newly minted CASH. It does not establish company shares, a claim on treasury assets, guaranteed revenue, or a right to redeem reserves. Protocol governance powers may be introduced at a later stage.

Continue with RICH staking and governance and permissions.