Rebase Protection

Safeguarding Your veINX Holdings

Ionex combines Olympus DAO’s anti-dilution rebase mechanism with Curve’s vote-lock model, inspired by Solidly’s ve(3,3) concept, to protect veINX holders from dilution. The system begins with a 52% anti-dilution cap, decreasing by 1% weekly for a year to ensure fairness. The longer veINX is locked, the more rebases are received, promoting long-term participation.

Note: Ionex has a 52% rebase, decreasing 1% per epoch for 52 epochs.

Example:

If you hold 10% of the 10,000 INX supply, and 10,000 more INX are emitted, the total supply doubles to 20,000. With 52% dilution protection, you’d receive 500 additional INX, maintaining a significant portion of the supply at 7.5% post-epoch. This demonstrates how the rebase mechanism sustains your share over time.