Saucerswap (SAUCE) Price

SAUCE is the native token of the SaucerSwap protocol, issued and managed through the Hedera Token Service (HTS). It is not Hedera’s gas token: within SaucerSwap, SAUCE is used primarily for DAO governance, liquidity incentives, and obtaining xSAUCE through staking. On Hedera, SaucerSwap offers V1 automated market maker pools, V2 concentrated-liquidity pools, and a V3 central limit order book. SAUCE does not have the same relationship to each trading venue: Masterchef can use it as a liquidity incentive; the protocol repurchases SAUCE from eligible fee revenue and then allocates it under set rules to xSAUCE, burning, development, and liquidity uses. Holding SAUCE itself does not mean owning equity in the exchange or automatically receiving all protocol fees.

SAUCE has a maximum minting cap of 1 billion tokens, but “minted,” “released,” and “circulating” should be considered separately. At genesis in August 2022, 500 million tokens were minted: 200 million were released then, while 300 million were placed in DAO-held, non-upgradeable vesting contracts; the remaining 500 million are minted by Masterchef according to a predetermined emissions schedule. The 300 million genesis tokens were subject to three-year linear vesting, which ended on July 16, 2025. The end of vesting means that the relevant tokens became eligible for withdrawal; it does not necessarily mean every token was withdrawn from the contracts. Supply can still increase thereafter as Masterchef actually mints tokens. The website’s circulating-supply methodology subtracts the balances of four genesis vesting wallets and the burn account from minted SAUCE; therefore, it is neither the maximum cap nor simply the number minted. Tokens in the burn account reduce this circulating-supply measure, but do not reduce the 1 billion-token minting cap.

Phase 1 is an implemented adjustment to SAUCE emissions and fund routing: the base emission rate was reduced exactly by half, from 2.113984 SAUCE per second to 1.056992 SAUCE per second; the additional devcut remains calculated at 10% of base emissions. Therefore, under this configuration, total gross issuance is approximately 1.1626912 SAUCE per second, or approximately 36.67 million tokens per year. The actual cumulative amount still depends on how long this configuration remains in effect and whether governance modifies it again afterward. Base rewards are determined by 5,000 allocation points: V1 farms receive 1,200 points (24%), V2 LARI incentives receive 3,500 points (70%), and the DAO receives 300 points (6%). The devcut does not occupy these allocation points; it is minted additionally. Phase 1 also changed 30% of the devcut that previously went to Mothership/xSAUCE so that it is sent to the burn address. This portion is “minted and then burned,” rather than repurchased on the market, so it offsets part of issuance without extending the predetermined emissions schedule. Official documentation states that Phase 2 has not yet been enabled, and its proposed reallocations must not be treated as current rules.

When SAUCE is staked, the Infinity Pool gives the user xSAUCE as a receipt for their pool share; xSAUCE is not a separate token with a fixed interest rate. The initial exchange rate is 1 xSAUCE for 1 SAUCE. Thereafter, when the pool receives SAUCE intended for stakers, SAUCE in the pool increases while the total xSAUCE supply does not, causing the exchange rate to rise. On exit, xSAUCE is exchanged back for SAUCE at the then-current exchange rate. For example, if 10 SAUCE in the pool corresponds to 10 xSAUCE, the exchange rate is 1:1. If another 10 SAUCE from revenue-repurchase distributions is added, the pool has 20 SAUCE corresponding to 10 xSAUCE, so 1 xSAUCE can be redeemed for 2 SAUCE. A new user who stakes 10 SAUCE at that point receives only 5 xSAUCE at the 1:2 rate, so the exchange rate of existing xSAUCE is not diluted. Rewards are reflected in the exchange rate and do not need to be claimed separately. The mechanism itself has no lock-up period, but the redemption amount changes with the exchange rate at the time, and xSAUCE, as an HTS token, can also be used for governance and other purposes in the ecosystem.

The funds behind xSAUCE appreciation come from SAUCE repurchases supported by eligible protocol revenue, not from a fixed annualized-yield promise. The repurchase source includes the protocol share of V1 and V2 trading fees after deducting the share due to liquidity providers; V3 taker fees after deducting market-making rebates and applicable trading discounts; and native staking rewards earned on HBAR held by the WHBAR contract. Repurchased SAUCE is allocated at fixed downstream proportions: 40% enters the Mothership/Infinity Pool, accumulating the xSAUCE exchange rate; 30% goes to the development fund; 10% is sent to the burn address; and 20% is used for protocol-owned liquidity and incentive reserves. Therefore, an increase in trading volume or fees does not mechanically mean that xSAUCE returns increase: it also depends on applicable fees, LP shares, rebates and discounts, repurchase execution, and xSAUCE shares in the pool. After Phase 1, the 30% of devcut that previously flowed to xSAUCE was changed to burning, and that emission can no longer be regarded as a current source of xSAUCE returns.

Both SAUCE and xSAUCE can confer voting power in the SaucerSwap DAO, but voting power is not calculated by simply adding the two on a 1:1 basis. Voting power equals the wallet’s SAUCE balance at the specified snapshot time plus its xSAUCE balance multiplied by the SAUCE/xSAUCE exchange rate at that time; balances deposited into liquidity pools are not counted. After users sign, their on-chain voting information is submitted through the Hedera Consensus Service, and the last vote prevails if they vote repeatedly. Not every discussion can directly change the protocol. Anyone can publish an RFC and discuss it for at least 3 days; afterward, a proposer with at least 100,000 voting power may initiate a 2-day proposal vote, which requires a quorum of 5 million voting power and a majority to pass; after passage, there must be a 2-day final election, which requires a quorum of 15 million voting power and a majority to pass. DAO-managed matters include farm and LARI incentives, V2 pool creation and fee sharing, tokenomics adjustments, and treasury management; therefore, “holding tokens enables governance” does not mean an individual can unilaterally modify parameters.

Single-sided SAUCE staking and providing liquidity are two different positions. The former converts SAUCE into xSAUCE, with returns reflected in the SAUCE/xSAUCE exchange rate and funded by protocol-revenue repurchase distributions; the latter provides a pair of assets to a trading pool, or assets within a specified price range, to facilitate trades and earn pool fees, and may also receive incentives from Masterchef or LARI. In V2 in particular, liquidity providers must select a price range and a fee tier; each tick represents a 0.01% price change. A position is active and earns fees only while the price is within its range; after the price leaves the range, the position stops earning fees, and its asset composition changes as the price moves. V2 LARI is distributed according to liquidity deployment efficiency: eligible positions participate automatically, and their corresponding rewards are automatically airdropped after the end of each two-week period. This differs from an xSAUCE share that is obtained by holding or staking SAUCE.