Thena is a decentralized protocol built on Binance Smart Chain that was specifically designed for protocols. Its stakeholders include veTHE holders, LPs, users, and protocols, all of whom are aligned by the ve(3,3) dynamics that determine $THE emissions. These emissions, along with the bribes deposited by protocols and fees generated by each pool, form the pillars of THENA's economy. The article aims to explore how protocols can benefit from different strategies on THENA.
In the current DeFi industry, DEX emissions can be centralized, decentralized, or a combination of both.

However, on THENA, emissions distribution is based on a free market, and third-party protocols can secure incentives for their liquidity through two different options: bribing and voting on gauges. These options are permissionless, flexible, and capital-efficient, allowing protocols to adjust their bribes or votes on a weekly basis while the market price of bribes is driven by free market forces.

THENA's mission is to promote sustainable DeFi practices, and protocols can tailor their strategies to maximize the value extracted from the DEX while incentivizing long-term liquidity for their native tokens. The bribing program, initial veTHE distribution protocols, and modest anti-dilution protection ensure a dynamic and decentralized governance over the protocol. By leveraging POL and Bribes, protocols can increase their power over THENA's emissions, creating a virtuous cycle of value creation for each of its stakeholders, including LPs, traders, protocols, theNFT stakers, and veTHE holders.