The ARK Initiative: Into a New Era
THENA is entering a new chapter.
The DeFi market is evolving rapidly. Trading activity and user attention are moving towards platforms capable of building competitive markets, delivering new products and continuously reinvesting in growth.
To compete in this new environment, THENA must strengthen its financial foundation, improve market efficiency, and create new sources of protocol revenue.
With this in mind, we are introducing The ARK Initiative, a proposed transition and growth framework designed to prepare THENA for its next stage.
In the story of Noah’s Ark, what mattered was protected through a period of transformation and carried forward into a new era. When the flood came, the Ark became more than a shelter: it carried life, continuity and the possibility of rebuilding beyond the storm. For THENA, ARK represents the same principle: preserving our core, rebuilding with purpose and moving the ecosystem forward together.
The initiative focuses on three priorities:
Building a more sustainable protocol economy
Creating resources for product and ecosystem development
Developing new revenue engines around RWA Perpetuals and related trading products
A Sustainable Foundation for Growth
The ARK Initiative proposes an integrated update to THENA’s fee distribution, emission allocation and protocol resource framework.
Spot trading fees would be distributed as follows:
40% to veTHE voters
60% redirected to the Protocol Treasury
Postpone trading-fee allocation to theNFT under the initial structure
Emissions would be allocated as follows:
77.5% for LP incentives (increase from 67.5%)
15% for the veTHE rebase (decrease from 30%)
2.5% for the Developer Wallet
5% for the Protocol Treasury
The Protocol Treasury will be managed under Foundation oversight and deployed according to the evolving needs of the ecosystem. Potential uses will include product development, security, ecosystem campaigns, TVL, marketing, partnerships and potential protocol-led value-accrual initiatives. The allocation between these areas will be determined by the Foundation based on protocol performance, market conditions and long-term strategic priorities.
The role of theNFT would continue to be evaluated as the ecosystem expands. Future opportunities may include ecosystem distributions, participation in selected new-product revenue structures, or other value-accrual mechanisms connected to THENA’s RWA and trading ecosystem.
Under this framework, the Foundation may introduce selected campaigns and incentive programs to support TVL, market activity and broader ecosystem participation. The scope, timing and structure will be determined by the Foundation based on protocol needs and market conditions.
Building THENA’s Next Revenue Engine
Protocol resources may also support THENA’s expansion into RWA Perpetuals and next-generation onchain trading products. This work may include trading infrastructure and integrations, RWA market development and asset onboarding, risk management, security, trader acquisition and ecosystem partnerships.
These new initiatives are intended to expand THENA beyond its existing spot revenue base, increase trading activity and build a more diversified source of protocol fees. As sustainable new revenue develops, the Foundation will evaluate how it can strengthen veTHE, theNFT and the broader THENA ecosystem.
During the development of this framework, the Foundation evaluated a potential additional 10% mint of $THE as one possible way to fund the transition. Following further review, we concluded that additional issuance could create unnecessary dilution and further disrupt community alignment. The Foundation has therefore decided not to proceed. No tokens have been minted under this proposal, and the ARK Initiative will not introduce this additional supply.
Instead, if approved, THENA will move forward through the fee adjustments outlined above, existing protocol resources, partnerships and operational execution. This path protects the existing supply structure while preserving the flexibility to broaden THENA’s products and business lines and, subject to protocol performance and market conditions, consider future protocol-led market operations and other value-accrual initiatives.
One Protocol. One Community. One THENA.
The ARK Initiative is a coordinated protocol-wide transition designed to strengthen THENA’s operating foundation and position the ecosystem for sustainable growth.
Getting there will require disciplined execution. Our priorities are clear: rebuild liquidity, grow protocol revenue, develop new revenue engines and put THENA 2.0 on a stronger, more resilient footing.
Every part of the ecosystem has a role to play in what comes next. Before ARK moves to a governance vote, we invite the community to take the next few days to review the proposal, ask questions and share their views.
Together, we have one objective: a stronger, more sustainable THENA.
One protocol. One community. One THENA.
https://forum.thena.fi/t/the3-ark-initiative-protocol-economics-restructuring-discussion/571