$RAMEN

$RAMEN serves as the fuel at the core of the liquidity engine that is Ramen Finance.

  • $RAMEN – liquid utility token

  • gRAMEN – on-chain non-transferrable governance token received when you lock $RAMEN

$RAMEN token

$RAMEN is the liquid, transferrable utility token for Ramen Finance.

gRAMEN token

gRAMEN is the governance token for Ramen Finance. gRAMEN is by default illiquid and non-transferable, and can only be earned by locking $RAMEN.

With gRAMEN, holders can participate in Ramen's governance, earn fees, and earn Gacha.

Conversion

$RAMEN to gRAMEN

$RAMEN can be locked to receive gRAMEN, and the conversion is 1:1.

For example, locking 1,000 $RAMEN tokens will instantly create a position of 1,000 gRAMEN tokens.

gRAMEN to $RAMEN

The maximum locking duration for a gRAMEN position is 16 weeks.

Users may redeem their gRAMEN position for $RAMEN instantly at any point in time. However, an unlock tax applies to redemptions before the 16-week maximum duration is up, and the unlock tax applies as illustrated below:

For example,

  • First 7 weeks from initial lock: The unlock tax associated to a redemption anytime in the first seven weeks is 50%, i.e. 500 $RAMEN is redeemed from a 1,000 gRAMEN position

  • 50th day to 111th day from initial lock: Users can redeem their gRAMEN for $RAMEN, but at a linear unlock tax i.e. unlock tax reduces linearly from the seventh week to the sixteenth week

  • 16 weeks from initial lock: Users can redeem their gRAMEN for $RAMEN at 0% unlock tax i.e. 1,000 $RAMEN is redeemed from a 1,000 gRAMEN position

When you redeem gRAMEN for $RAMEN, you can only redeem the entire position. Partial redemptions are not possible.

🔥 Deflationary Mechanism: All $RAMEN accrued from the unlock tax will be burnt and removed from the circulation. For example, if a user redeems 1,000 gRAMEN at the maximum unlock tax of 50%, the user will receive 500 $RAMEN. The balance 500 $RAMEN is burnt and removed from circulation in this process.

Adding to your gRAMEN position

You may only have one gRAMEN position for each wallet, so there will only be a single gRAMEN expiry date associated to your wallet. However, you may choose to add to your gRAMEN position at any time.

For example, Noral has 2,500 gRAMEN locked up from 8 weeks ago. She wants to add to her gRAMEN position so she locks up another 5,000 $RAMEN. Upon locking, she will have 7,500 gRAMEN and the expiry date for that gRAMEN position is reset.

Expired gRAMEN position

At the end of 16 weeks, the gRAMEN position will expire and automatically be converted back to $RAMEN at 0% tax. At this moment, you will cease to enjoy any GACHA earn rate, governance powers, or fee sharing if applicable. Users will have to manually lock their $RAMEN tokens again in a new position.

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