What is a Rebase Token?

Rebase Token description.

A Rebase Token is one whose circulating supply continously expands, dependning on its Fixed APY and token emissions (minting). This increase in supply works with a mechanism called rebasing. When a rebase occurs, the supply of the token is increased algorithmically.

Pallas's PAP takes advantage of a positive rebase formula which increases the token supply allowing $PALLAS holders to keep growing their tokens, like in a traditional staking protocol. However our use of a rebasing token eliminates the need to approve and traditionally stake your tokens.