Pegasus Glossary
Terms you’ll need to catch all the alpha
Mechanisms
The Great Race — A learn-to-earn where participants complete daily “quests” in exchange for Sealed Pega Tokens. These tokens can be used to mint a PegaPal. See it live.
PegaPal Auctions — English auctions for PegaPals. Meant for those looking to enter the Pegasus ecosystem immediately. Auction revenue will make up the initial treasury. Upon settling, the PegaPal will be immediately stakeable. See it live.
PegaPal Staking — Stake Pegapals to earn $PEGA tokens. Higher-level PegaPals increase your share of staking APY. In Phase One revenue for backing staking APY will be from PegaPal auctions. Once the Rate Perpetual launches transaction fees will back new token emissions. See it live.
Peganomics— Pegasus’s tokenomics model seeks to pioneer a new incentive design that rewards hodlers proportionally to their conviction in the protocol. Whitepaper.
The Interest Rate Perpetual: A perp that tracks the value of an underlying interest rate. For the Aave USDC market, if the current annualized borrow rate is 3.6%, the perp price will reflect 0.036 USDC. If the annualized borrow rate goes up to 6%, the oracle price will rise to 0.06 USDC. Traders can take long and short positions on this perp with leverage. Liquidity for the perp will come from protocol treasuries which in essence is liquidity mining, but Pegasus is the provider of its own liquidity since all the perp revenue will then be sent directly to the treasury to fund more staking APY. More here.
Assets
ERC 20 Assets
$Sealed Pega - Used to reward participants in The Great Race for each quest they complete. These tokens cannot be transferred between accounts or on the open market in order to prevent users from Sybil attacking The Great Race.
$PEGA - Staking APY is paid out in PEGA. Leveling your PegaPal requires burning 100 $PEGA. Can be traded.
ERC 721 Assets
PegaPal - The primary asset of Pegasus. PegaPals can be leveled by burning 100 $PEGA. They can also be staked to earn a share of protocol revenue proportional to its level. Levels increase staking APY, governance weight, and social status. More here.
OG Task Pass - Task pass minted to OG members and discord giveaway winners. Passes are limited in supply (only 140) and are available to mint via a whitelist. These passes can be burned for 8 $Sealed Pega Tokens. Max burnable per address, 3 OG passes. Details here. Mint Here.
Frog Nation Task Pass - Task Pass given out to rekt Frog Nation members into our community after the Wonderland turmoil. These passes are worth 4 $Sealed Pega Tokens and were given to all holders of $MEMO, $TIME, and $wMEMO. Max burnable per address, 3 Frog Nation passes. Here.
