# Tokens

### 1. HYBR — The Native Utility & Governance Token

**HYBR** is the core asset of the Hybra Finance ecosystem. It underpins every layer of the protocol—liquidity incentives, fee capture, governance, and future product expansion.

#### 1.1 Supply & Emissions

* **Initial supply**: 1 billion HYBR.
* **Genesis distribution**: Liquidity providers, community airdrops, ecosystem growth fund, and protocol treasury.
* **Emission schedule**: Weekly emissions taper according to a pre‑set decay curve. Emitted HYBR is directed to liquidity pools via gauge voting .

#### 1.2 Core Utilities

| Utility            | Detail                                                                                           |
| ------------------ | ------------------------------------------------------------------------------------------------ |
| Trading incentives | Reward LPs in pools selected by veHYBR voters.                                                   |
| Governance         | Token holders may create and vote on protocol improvement proposals once they convert to veHYBR. |

### 2. veHYBR — Vote‑Escrowed HYBR

`veHYBR` is the vote‑escrowed version of HYBR. It exists as an **ERC‑721 NFT**, making each lock position transferable, mergeable, and tradable on secondary markets.

#### 2.1 Creating veHYBR

* **Lock window**: 1 week ≤ lock ≤ 104 weeks (≈ 2 years).
*   **Voting power multiplier**:

    `veHYBR = HYBR_locked × (lock_time / 104 weeks)`
* **Example**: Locking 1 000 HYBR for the full 2 years grants 1 000 veHYBR; locking the same amount for 26 weeks yields 250 veHYBR.

#### 2.2 Linear Decay & Relocking

veHYBR voting power decays linearly to zero as the lock approaches its end. Holders can **extend** or **relock** at any time to maintain or increase their voting weight.

#### 2.3 Rights & Earnings

<table data-header-hidden><thead><tr><th width="369"></th><th></th></tr></thead><tbody><tr><td>Benefit</td><td>Explanation</td></tr><tr><td><strong>Gauge voting</strong></td><td>Each epoch (weekly) veHYBR holders direct emissions to liquidity pools.</td></tr><tr><td><strong>Bribe market</strong></td><td>External protocols may attach incentives to pools; veHYBR voters receive 100 % of those bribes.</td></tr><tr><td><strong>Governance</strong></td><td>veHYBR is the sole voting asset for protocol proposals and parameter changes.</td></tr></tbody></table>

#### 2.4 Minimum Thresholds for Protocols

Protocols that wish to list a gauge must hold at least **0.1 % of total veHYBR** or borrow the voting power via bribe markets.

### 3. Open Liquidity Marketplace

The **veHYBR gauge system** functions as an on‑chain marketplace for liquidity. Projects compete for veHYBR votes by:

1. **Accumulating veHYBR** (buy → lock), or
2. **Offering bribes** (pay stablecoins/HYBR to voters).

This dynamic ensures capital is continuously steered where it is most valued by the market.

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