An Ancient Pharaoh's Terminal ยท Epoch 41
The chain answers to the eye that watches it.
Live Pharaoh Exchange metrics on Avalanche โ read-only, no wallet.
Total Value Locked
Live ยท 520 pools
$0.00M
24h Volume
$62.75M
7d $231.56M
24h Fees
$51,744
7d $166,619
Pools
520 / 53
gauged / total
Epoch 41
3d 21h remaining
44%
Elapsed
Turnout99.2%
Total votes912.37M
Top gauge64.4%
xRatio0%
Epoch Revenue (live)
$0
Voter rewards ยท swept + pending
Emission Cost
$0
5,461,524 PHAR ร spot
Net Surplus
โ$0
Loss epoch ยท -30.1% margin
PHAR Supply
515.99M
live (xPHAR + circ, ex-burn)52.86% of minted
PHAR Burned
460.17M
+203K this week47.14% of minted
Weekly Emission
$96.6K
5.46M PHAR / wk25.8% vs docs
Total Rewards / wk
$98.1K
LP emissions + team pre-funds (gateway on-chain rewardRate)~5.55M PHAR
xPHAR revenue calculator
xPHAR
Share of supply
of 920.17M effective xPHAR
Weekly fees
โ
100% of voter rewards ยท pro-rata
Annualized
โ
7d ร 52, current run-rate
APR (vs PHAR)
โ
annualized fees / value at PHAR spot
Aggregated xPHAR concentration
50.7%
Top 5 hold
0x6608โฆ7882
21.57%
0x6076โฆ4DE2
14.30%
0x68daโฆb3ce
6.18%
DOG (Pharaoh Founder)
4.53%
0xC73Dโฆ8D38
4.17%
PHAR supply composition
xPHAR coll.47.13%
Circulating5.73%
Burned47.14%
Burn progress
131.5%
7d burn+0.20M
Avg / epoch10.96M
SourcexPHAR penalties ยท convert burns
Sacred flame ยท this week's offering
Burned this epoch
$3.6K USD
203K PHAR removed from supply ยท 47.14% of all minted PHAR burned to date
๐ The eye sees what others miss. Click it seven times to summon the Oracle. ๐
Emissions
Per-epoch emission curve
Realized mints vs the documented decay.ⓘ
Total Emitted
223.46M
$5.20M cumulative
This Week
5.46M
$96,648
Next Epoch (proj)
5.41M
ร 0.99 elasticity
Avg ฮ vs Docs
25.8%
elasticity below curve
Weekly emissions
Economy
Valuation & revenue
FDV, market cap and protocol revenue โ live.ⓘ
01
Coverage Ratioi
fees รท emissions
Does the protocol earn more than it prints? A dollar of fees is real revenue; a dollar of emissions is printed supply. Above 1.0ร, it stands on its own cash flow.
Fees vs Emissions ยท Pharaoh
โรโ
02
Net APRi
nominal โ dilution
The real yield you actually keep โ your share, after the printing dilutes it. Positive only when the protocol out-earns its emissions.
Nominal โ Dilution ยท Pharaoh
โโ
โ%โ
real yield you keep, per year
03
Lock Carry Costi
emissions รท locked
What it costs to hold the lock โ the annual dilution you pay just to stay sequestered. When fee income beats the carry, the lock funds itself.
Per $1 locked / yr ยท Pharaoh
โ%โ
annual dilution to hold the lock
04
Lock Effectivenessi
locked รท fees / yr
Is the sink actually real? A P/E for the lock โ lower is better โ and whether fees, not printing, keep it filled.
Lock Multiple ยท Pharaoh
โรโ
$ locked per $1/yr of real fees ยท lower = better
Supply lockedโ
Marked atโ
PHAR Price
$0.01770
DefiLlama ยท 24h+6.27%
FDV
$17.27M
920.2M xPHAR + 55.9M PHAR+6.27%
Circulating MC
$0.99M
55.9M free-float ร price+6.27%
Annualized Revenue
$8.66M
7d ร 52 ยท 24h+39.18%
Net Surplus / wk
+$70.0K
fees โ emissionsprofitable
P/E (FDV)
1.99
FDV / annual rev
P/E (Circ MC)
0.11
Circ MC / annual revcheap
Net surplus this week ยท base
+$69,972
3.64M annualized ยท fees โ auto emissions
Revenue (7d)$166,620
โ Auto emission costโ$96,648
= Base surplus+$69,972
Net surplus this week ยท strict
+$69,972
$3.64M annualized ยท after all rewards
Revenue (7d)$166,620
โ Auto emission costโ$96,648
โ Team manual rewardsโ$0
= Strict surplus+$69,972
Net surplus epoch-to-date ยท base
โ$22,338
running this epoch ยท 3d in
Revenue since epoch start$74,310
โ Auto emission cost (full)โ$96,648
= Base surplusโ$22,338
Net surplus epoch-to-date ยท strict
โ$22,338
after all rewards ยท 3d in
Revenue since epoch start$74,310
โ Auto emission costโ$96,648
โ Team manual rewardsโ$0
= Strict surplusโ$22,338
Revenue vs Emissions ยท per epochⓘ
๐น Voter Revenue ยท Epoch 41
Fees earned by voters
Swap fees collected by xPHAR voters โ by day, epoch and pool.ⓘ
Epoch 41 ยท projected close
$167,210
$23,887 / day pace
+85.6% vs Ep 40
Last 24h
$51,744
+23.0% vs yesterday close
rolling ยท live 24h fees ร voter share
as of 1m ago
Trailing 7d
$116,782
$16,683 / day avg
Trailing 30d
$619,578
$20,653 / day avg
Annualized ยท projected
$8.69M
current epoch pace ร 52
Best epoch ever
$764,342
Ep 6 ยท avg $169,606/epoch
All-time revenue
$28.50M
40 epochs ยท since launch
Daily voter fees
Best day to earn
Top revenue pools
| # | Pair | Voter rev | 24h fees | TVL |
|---|---|---|---|---|
| 01 | WAVAX/USDC | $34,984 | $25,300 | $8,403,287 |
| 02 | WETH.e/WAVAX | $17,420 | $12,223 | $3,643,383 |
| 03 | WAVAX/USDC | $10,893 | $6,488 | $1,708,866 |
| 04 | BTC.b/WAVAX | $10,447 | $7,356 | $1,797,763 |
| 05 | PHAR/WAVAX | $363 | $71 | $227,083 |
| 06 | PHAR/USDC | $74 | $8 | $20,779 |
| 07 | USDt/USDC | $39 | $6 | $5,238,066 |
| 08 | BLAZE/WAVAX | $32 | $17 | $1,126 |
| 09 | BANDS/WAVAX | $18 | $6 | $213 |
| 10 | HEFE/USDC | $11 | $0 | $1,988 |
Voter fees by epoch
๐
Competition ยท Avalanche
Pharaoh vs the ve(3,3) field
x(3,3) vs ve(3,3), head to head.ⓘ
01
Coverage Ratioi
fees รท emissions
Does the protocol earn more than it prints? A dollar of fees is real revenue; a dollar of emissions is printed supply. Above 1.0ร, it stands on its own cash flow.
Fees vs Emissions ยท
โรโ
02
Net APRi
nominal โ dilution
The real yield you actually keep โ your share, after the printing dilutes it. Positive only when the protocol out-earns its emissions.
Nominal โ Dilution ยท
โโ
โ%โ
real yield you keep, per year
03
Lock Carry Costi
emissions รท locked
What it costs to hold the lock โ the annual dilution you pay just to stay sequestered. When fee income beats the carry, the lock funds itself.
Per $1 locked / yr ยท
โ%โ
annual dilution to hold the lock
Burned / epochโ
Net supply changeโ
04
Lock Effectivenessi
locked รท fees / yr
Is the sink actually real? A P/E for the lock โ lower is better โ and whether fees, not printing, keep it filled.
Lock Multiple ยท
โรโ
$ locked per $1/yr of real fees ยท lower = better
Supply lockedโ
Marked atโ
Burned / epochโ
Net supply changeโ
๐ฎ
Supply Impacti
emitted โ sequestered
What actually leaves the supply โ burned permanently or sequestered. Above 1.0ร, the protocol removes more than it prints and the supply shrinks.
What leaves the supply ยท
โรโ
Net supply changeโ
Different mechanisms. Pharaoh sequesters at mint โ every xPHAR conversion burns half the PHAR (gone for good) and escrows half (redeemable via p33). Blackhole burns BLACK via Supermassive smNFTs and time-locks standard veBLACK. The honest comparison is permanent supply removal vs temporary lock accounting โ both shown as native tokens sequestered per epoch.
PHARAOH
BLACKHOLE
ฮ
TVL
$35.61M
$3.06M
+1064%
24h Volume
$62.75M
$6.91M
+808%
24h Fees
$51,744
$3,379
+1431%
Fees ยท last epoch
$90,096
$11,616
+676%
Emission cost ยท last epoch
$97,730
$22,577
+333%
Capital turnover (24h)
1.76x
2.26x
-22%
Fees vs emissions ยท last 10 epochsⓘ
Pharaoh
Blackhole
Lock mechanics & governance
PHARAOH xPHAR
Lock durationNone โ non-transferable
Voting power1 xPHAR = 1 vote, no decay
ExitInstantExit (burn for PHAR, penalty)
Fee accrual100% of swap fees โ voters
Epoch length7d (Thu 00:00 UTC โ Wed 23:00 UTC)
Emission decayBuilt into Minter contract
BLACKHOLE veBLACK
Lock durationSingularity locks + Supermassive burns
Voting powerveBLACK accounting, including burn-minted vote power
ExitTime-lock expiry or permanent burn path
Fee accrualVoters collect fees and incentives
Epoch length7d (Thu 00:00 UTC โ Wed 23:00 UTC)
DecayEmission decay plus veNFT-specific mechanics
Where Blackhole emissions are going
| # | Pair | TVL | APR (reward) | Weekly emission ($) |
|---|---|---|---|---|
| 01 | 0x41100c6dโฆ | $718,394 | 91% | $12,553 |
| 02 | 0x7789fa30โฆ | $53,772 | 241% | $2,493 |
| 03 | 0x5e128ebcโฆ | $130,139 | 88% | $2,202 |
| 04 | 0x8fef4fe4โฆ | $232,759 | 37% | $1,677 |
| 05 | 0x76eb2c0cโฆ | $162,553 | 35% | $1,102 |
| 06 | 0x668aa7aeโฆ | $28,531 | 125% | $687 |
| 07 | 0xc13fd959โฆ | $29,948 | 68% | $391 |
| 08 | 0xdb5cff75โฆ | $48,265 | 39% | $364 |
๐ฟ WAVAX / USDC ยท LP Comparison
Where should you add liquidity?
Pick a size and range โ we project LP emission APR on Pharaoh vs the ve(3,3) peer, live.ⓘ
Pharaoh Fee
โ
x(3,3) ยท dynamic, this cycle
Blackhole Fee
โ
ve(3,3) ยท dynamic, this cycle
Pair price
Current: โ
0.05% wide
PHARAOH
x(3,3)
After adding this position
โ
Pre-add UX APR: โ
Net yield after LVR
โ
emissions โ โ LVR โ
โ per epoch
ยท
โ + โ
Add Liquidity โ
BLACKHOLE
ve(3,3)
After adding this position
โ
Pre-add UX APR: โ
Net yield after LVR
โ
emissions โ โ LVR โ
โ per epoch
ยท
โ + โ
LVR โ ฮป ยท ฯยฒโ8 ยท for your selected range โ emissions go to LPs, fees go to voters
Aggregated CL orderbook ยท by initialized tick
Liquidity at each selected pool price tick
PHARAOH active liquidity by tick
| Price | Total |
|---|---|
Loading tick liquidityโฆ | |
BLACKHOLE active liquidity by tick
| Price | Total |
|---|---|
Loading tick liquidityโฆ | |
DLMM Calculator ยท WAVAX/USDC
$
Bin liquidity ยท USDC per AVAXโ pool โ your range โ your shape
Where price lived ยท last 7d
Net Projected APR ยท after LVR/IL
โ
โ/wk ยท gross โ ยท โ pool avg โโ
net APR vs width ยท โ you
โ
Add Liquidity โ
๐ viewing LP โ
โ Same range on
DLMM โ
vs
CL โ
โ
Emission APR
โ
your yield ยท โ/wk
LVR ยท IL
โ
IL on exit โ ยท โ
Range fees ยท 7d
โ
100% โ xPHAR voters
If price goes to
โ
โ
This position ยท day by day, last 7d
Liquidity providers
| # | LP | Position | Share | Range | Bins |
|---|
Real 7-day on-chain earnings ยท LVR/IL-adjusted ยท not financial advice
Liquidity providers
| # | LP | Value | Share | Range | Pos |
|---|---|---|---|---|---|
| Loading LPsโฆ | |||||
Gauges ยท Liquidity Map
520 pools
53 gauged ยท top gauge takes 64.4% of this epoch's emissions.
Top pool share
64.36%
WAVAX/USDC
Top gauge reward
3515K
PHAR / week
Total gauges
53
1:1 with pools
Gini (votes)
0.81
0 even ยท 1 winner-take-allhigh
All pools
| # | Pair / Pool | Gauge | Fee | TVL | Votes | PHAR/wk | +Team | Total $/wk | Share |
|---|
Governance ยท Epoch 41
912M xPHAR voting this epoch
Turnout 99.2% of supply โ emissions follow the votes.
Voter turnout
99.2%
of 920.2M xPHAR
Total votes
912.37M
xPHAR-weighted
Top gauge
64.36%
WAVAX/USDC
xRatio
0%
emissions paid as PHAR
Gauge race ยท top 12
Full breakdown
| # | Pair | Gauge | Votes | PHAR/wk | Share |
|---|
Holders
Holders
Every address and its full holdings โ direct xPHAR, staked, AutoVault, p33 & LP. Search any address to find yourself. ยท 920.17M effective xPHAR across every form.ⓘ
Top buyers
epoch 41
1
0x8bD8โฆ4606
+143.96Kโ $2,548
2
0x7FB6โฆb5a5
+112.91Kโ $1,998
3
0x04e0โฆbd2E
+65.33Kโ $1,156
Active xPHAR holders
909
โฒ +4
net this epoch
Buying this epoch
29
wallets acquired xPHAR7 sold
New holders this epoch
+4
first-time xPHAR owners
Total holders ever
62,453
unique entrants since TGE
๐ฝ Anti-dilution ยท hold your share
If I hold
xPHAR
I must keep acquiring
โ / epoch to keep my share
โ net APR
โ โ / epoch
โ dilution
โ net / epoch
๐ฝ
Holder growth ยท per epoch
Aggregated holdings ยท all
| # | Address | Total xPHAR | ฮ 7d | Share |
|---|
Total supply
515.99M
live (xPHAR + circ, ex-burn)52.86% of minted
Circulating MC
$0.99M
55.9M free-float ร spot
Holders
1,459
unique addresses
Top holder share
89.17%
0xE816โฆ6B9A
PHAR holders
| # | Address | Amount | Share |
|---|
Total xPHAR
920.17M
governance token ยท non-transferable
PHAR collateral
460.08M
held by xPHAR contract
Holders
94
unique addresses
Top holder share
0.87%
0x0877โฆ2e17
xPHAR holders
| # | Address | Amount | Share |
|---|
p33 supply
101.85M
liquid staking token
LST rate
1.4654
xPHAR per p33
Holders
535
unique addresses
Top holder share
25.70%
0xC73Dโฆ8D38
p33 in LP
9.44M
across 26 Pharaoh pools9.3% of supply
xPHAR-eq locked as LP
13.84M
p33 ร LST rate (1.4654)
LP value
$244,894
at PHAR spot
p33 holders
| # | Address | Amount | Share |
|---|
Total staked
664.38M
xPHAR in AutoVault
Active stakers
260
positive balance
Lifetime depositors
370
incl. withdrawn
AutoVault stakers
| # | Address | Balance | Output Pref | Share |
|---|
p33 sold ยท today
โ
โโ
๐ฉธ Shame List ยท p33 sellers
| # | Address | Rank now | p33 sold | โ USD | swaps | into |
|---|
BLACK supply
โ
ERC-20 total supply
BLACK holders
โ
liquid ERC-20
veBLACK contract
โ
physically held BLACK
Top holder share
โ
BLACK holders
| # | Address | BLACK | Share |
|---|
BLACK in ve
โ
physically held by VotingEscrow
veBLACK supply
โ
on-chain accounting
Owner ranking
needs veNFT scan
VotingEscrow
โ
contract balance row
Indexer status
Phase 2
veNFT owner pass needed
veBLACK indexer note
| # | Scope | Status | Source |
|---|
veBLACK contract view
| # | Address | BLACK held | Locked this epoch | veNFTs | Share |
|---|
๐ Tokens ยท PHAR
The emissions token.
Tradable on Avalanche DEXes. Half of every Convert is burned โ structurally deflationary as xPHAR grows.
Price
$0.01770
DefiLlama ยท 24h+6.27%
Live Supply
515.99M
xPHAR coll + free-float
Free-float
55.90M
circulating outside xPHAR
Burned
460.17M
removed from supply
DEX trading
24h Volume
$0.01M
total swap activity
7d Volume
$0.10M
cumulative weekly
24h Fees
$164
fees โ voter rewards
Top pair
PHAR/WAVAX
$4,736 24h
๐ Note: Per-address PHAR buy/sell tracking (ERC20 Transfer event scan) is not yet indexed โ only pool-level swap volumes from the Pharaoh gateway are shown above. Coming when the PHAR Transfer event indexer is added.
๐ Tokens ยท xPHAR
The lord of governance.
Non-transferable claim capturing 100% of trading fees. Mint via convert, exit via burn (penalty applies).
Total Supply
920.17M
non-transferable governance
PHAR Collateral
460.08M
held by xPHAR contract50.0%
Net Supply ฮ (7d)
+1114.4K
converts โ exits
Holders
94
unique addresses
๐ xPHAR acquisition optimizeri
ABuy PHAR & convert
โ xPHAR
โ $/xPHARยทโ impact
BBuy p33 & redeem
โ xPHAR
โ $/xPHARยทโ impact
โ
Mint & exit activity
โ Converts (PHAR โ xPHAR mint)
Last 24h
+79.1K xPHAR
100 txs
Last 7 days
+1114.4K xPHAR
628 txs
๐ฎ Instant exits (xPHAR burn โ PHAR)
Last 24h
โ0.0K xPHAR
0 txs
Last 7 days
โ0.0K xPHAR
0 txs
Conversion flow
Converted PHAR โ xPHAR+ 60106.49K
Instant-exit (50% penalty)โ 0.00K
Vested redemptionsโ 0.00K
Net change+ 60106.49K
Effective collateral ratio50.00%
Vest period15 โ 90 days
Live event feed
๐ Tokens ยท p33
The liquid staking token.
A tradable LST wrapping xPHAR. Backing grows as the underlying xPHAR accrues voter rewards via AutoVault. Mint by depositing xPHAR, redeem at the current rate.
Total Supply
101.85M
liquid staking token (LST)
LST Rate
1.4654
xPHAR per 1 p33
Pools
26
DEX pairs trading p33
Holders
535
unique addresses
Redeem & mint values
โข Redeem (1 p33 โ xPHAR)
1.4654
xPHAR
โ $0.02593 USD per p33
โ Mint (1 xPHAR cost in p33)
0.6824
p33
โ $0.01208 USD to acquire 1 xPHAR-eq via wrap
Live event feed ยท p33 buys & sells
Market activity
24h Volume
$11,827
across 26 pools
7d Volume
$0.1M
cumulative weekly
Buys (24h)
412
432K p33 acquired via pools
Sells (24h)
157
385K p33 sent to pools
Buys (7d)
4089
3.5M p33 acquired
Sells (7d)
1803
3.7M p33 sold
Top pool
p33/USDC
$4,290 24h vol
7d Fees
$1,191
generated by p33 pools
Deflation
460.17M PHAR burned
Lifetime burns โ 366.5M one-time TGE rebalance + 93.66M ongoing from converts & redeems.
Total PHAR burned
460.17M
lifetime ยท incl. TGE init131.48% of 350M
User-driven burns
93.66M
epoch 1 โ now ยท convert/redeem activity26.76% of 350M
This week burn
$3.6K
203K PHAR this epoch
Avg user burn / epoch
2.28M
PHAR per epoch (post-TGE)
Sacred Flame โ burns this epoch
$3.6K USD
203K PHAR removed from supply this week ยท 131.48% of initial 350M mint already destroyed (incl. TGE)