$RAMEN

$RAMEN token

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

gRAMEN token

gRAMEN is the governance token for Ramen. 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.

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.