General FAQs

What is Richie Finance?

Richie Finance is the liquidity and yield layer for the PDAI community on PulseChain, our aim is to deepen trading liquidity for PDAI while giving PDAI holders sustainable high yield. At its core is CASH; an algorithmic supply peg coin designed fluctuate around the value of 1 PDAI and RICH; the protocol incentive and share token designed reward protocol participants.

What is CASH pegged to?

CASH targets a market price of 1 PDAI per CASH.

Is CASH backed?

No CASH is not presented as a collateral-backed stablecoin. The Protocol is designed to accumulate treasury assets and revenue to support market activity, but those assets do not establish a guaranteed floor or a holder's claim on reserves. Part of treasury assets and revenue is used for CASH to PDAI redemptions below peg.

What happens above peg?

Above a TWAP peg value of 1.01 the protocol mints new CASH to RICH stakers in The Yacht Club. Exact expansion values are based on the current circulating supply of CASH.

What happens below peg?

Below a TWAP peg value of 1.01 the protocol pauses CASH expansion. Below a TWAP peg value of 1.00 available PSM funding, reserves, and a portion of realized treasury revenue supports CASH redemptions to PDAI at a ratio of 1:1.

What is RICH?

RICH is the fixed supply share token of the protocol, it represents protocol ownership and reflects confidence in the peg and in the treasury behind it. Holders can stake RICH in The Yacht Club and earn new mints of CASH tokens when above peg, staking RICH is the only way to earn newly minted CASH.

How does the PSM work?

The Peg Stability Module or PSM requires a fee paid in PLS when claiming RICH farm rewards. That PLS contributes to the protocol's funding base and is used for revenue generation and CASH redemptions. The PSM fee is always less than the value of the accrued RICH rewards you are claiming.

Why is the PSM fee paid in PLS if the peg is PDAI?

PLS is the fee asset and also the network's gas asset. The peg and fee asset serve different purposes. PLS may be held, converted, or deployed under treasury policy. Its purchasing power relative to PDAI can change.

Can PDAI move freely into and out of the protocol?

Yes. Your PDAI is forever yours, Richie Finance never locks your PDAI capital into the protocol. You are free to create and remove LP and Pulsechain assets as you please.

What is genesis?

Genesis is how the protocol launches. It is a 3 day window where users can stake a variety of Pulsechain assets such as PDAI, PLS, PLSX, HEX, ICHIDAI, ATROPA and other to earn the first supply of CASH tokens. Deposits are taxed with a 1% fee.

This fee is only on deposits to the genesis pools during the 3 day launch, this helps to build an initial starting treasury fund that's used for further revenue generation. Your are free to deposit, claim and withdraw your assets at any time during or after the genesis launch.

Are the contracts safe?

Richie Finance mitigates contract risk significantly by using only tried and true battle tested contracts that have safely held billions of dollars in TVL over years without exploit through many Tomb forks including the revised Tomb Finance deployed on Fantom network in 2021.

In addition to this the contracts have been reviewed by several frontier model AI agents including those from top tier DeFi security researchers such as Pashov DeFi Audit Skill.

What are treasury rebates?

Treasury rebates allow users to acquire discounted RICH tokens using approved Pulsechain assets. It is a valuable capital-acquisition tool that helps further build the treasury with a basket of assets to help support the CASH to PDAI backing.

Can the treasury earn revenue during contraction?

That is the goal. Positions may continue to generate income when CASH expansion pauses.

Are yields guaranteed?

No. Reward rates, token prices, fees, liquidity, and participation all affect results. A displayed APR is an estimate based on past data.

Is Richie Finance live?

The protocol is not yet live, follow our socials for the exact launch dates.