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Thena (veTHE)

Thena is the largest ve(3,3) DEX on BNB Chain with self-optimizing liquidity and Chainlink-powered automation. veTHE holders govern emissions, earn trading fees, bribes, and rebases.

What is veTHE?​

Lock THE tokens to receive a veTHE NFT representing your locked position. This grants:

  • Voting power to direct THE emissions to liquidity pools
  • Trading fees from the pools you vote for
  • Bribes from protocols competing for your votes
  • Weekly rebases to protect against dilution

Lock periods range from 1 week to 2 years. Voting power decays linearly toward the lock end date.

What Makes Thena Different​

  • Self-optimizing liquidity: ve(3,3) flywheel automatically routes emissions to the most productive pools
  • Chainlink automation: Auto-claim, auto-vote, and auto-extend features powered by Chainlink Keepers reduce active management overhead
  • Deep discount market: veTHE consistently trades at steeper discounts than most other veTokens, creating attractive entry points
  • Established BNB Chain DEX: Strong TVL and growing ecosystem with active governance participation

Discounts and Fees​

Discounts change with Thena's token price, market demand, and lock duration; live average and best discounts are on the veX analytics page. veX charges 0.5% on Thena sales, paid by the seller only.

Things to Know​

Chainlink automation is optional. You can enable auto-vote and auto-claim through Thena's UI, which removes the need to manually vote each epoch. Factor this convenience into your valuation.

Rebases transfer with the NFT. Unclaimed rebases come with the position when purchased. Check for accumulated rebases before buying.

Active management maximizes returns. Without automation enabled, weekly voting is required for optimal fees and bribes. Missing epochs means missing rewards.

BNB Chain gas is cheap. Transaction costs for voting and claiming are minimal on BNB Chain, making active management practical even for smaller positions.

Delist Before Merging

If you merge a listed veTHE with another position, the listing stays active at the original price but now includes the combined amount. Always delist first, then merge, then relist.

How do I sell a locked veTHE position?​

You can sell a locked veTHE position on veX without waiting for the lock to expire. The buyer takes over the locked THE and the remaining lock time.

Connect the wallet holding the veTHE and open your veX dashboard. The position appears under Positions, where you can list it. Set a price, or set a discount to the locked value and let veX work out the price. You approve the NFT once, then confirm the listing.

That approval only lets the marketplace move the NFT when someone buys it. veX is non-custodial, so the position stays in your wallet, keeps earning and voting, and you can delist whenever you want. veX charges 0.5% on Thena sales, paid by the seller.

What is a locked veTHE position worth?​

A veTHE position usually sells for less than the THE locked inside it, because the buyer is taking on the rest of the lock. The seller chooses that discount.

Live Thena discounts are on the veX analytics page.

Contracts​

  • veTHE contract: 0xfBBF371C9B0B994EebFcC977CEf603F7f31c070D
  • THE contract: 0xF4C8E32EaDEC4BFe97E0F595AdD0f4450a863a11

These render from the live veX registry:

Browse Thena listings on veX