Pharaoh Liquid Staking Token (P33): Uses and Risks

Pharaoh Liquid Staking Token (P33) is an Avalanche token associated by name with Pharaoh. The project describes Pharaoh as a concentrated-liquidity layer and exchange on Avalanche C-Chain, built on Ramses V3 Core, which is based on Uniswap V3. Its features include dynamic system and protocol fees, an x(3,3) model, and accounting that tracks the active liquidity provided by concentrated-liquidity positions.

That project description does not explain what P33 itself does. In particular, it does not confirm that P33 represents staked AVAX, earns staking rewards, or gives holders a claim on deposited assets. The token’s name alone is not enough to establish those functions. Treat P33’s specific role as unconfirmed unless Pharaoh’s current documentation provides details. Public sources also do not identify P33 as a chain’s native gas token; it is reported as issued on Avalanche.

Public sources do not specify P33’s token utility, so it is not possible to say whether it is used for governance, trading incentives, fee payments, staking, or another purpose. Pharaoh’s exchange and liquidity features describe the protocol, but they do not by themselves establish benefits or rights for P33 holders. Do not assume that owning P33 gives you a share of protocol fees or that it can be redeemed for staked assets.

Before using the token in a dApp, check the project’s current documentation and confirm the token contract address through an official Pharaoh channel. This matters because tokens can share names or symbols, and an asset’s label may not match its actual contract behavior. Also distinguish P33 from any liquidity-provider position or receipt token: those can represent separate assets with different risks and withdrawal rules.

As of 2026-11-05, reported circulating and total supply were both about 154.0 million P33. No maximum supply was reported, so there is no stated cap to compare with the current supply. The reported market capitalization was about $13.1 million, with a fully diluted valuation also about $13.1 million. These are approximate, time-sensitive figures, not a measure of guaranteed value or future demand.

The reported price was about $0.085 on that date, and 24-hour trading volume was about $48,800. P33 had recorded a high of about $0.192 on 2026-10-01 and a low of about $0.0082 on 2025-11-13. Those past prices show that the token’s market value has moved substantially; they do not predict what it may be worth later. Supply and market figures can change, and the reported data does not establish whether additional tokens can be created or how any future issuance would work.

P33 is reported as issued on Avalanche. The information available here does not provide a contract address, so verify the exact asset before sending, swapping, or adding it to a wallet. Use an Avalanche-compatible wallet that supports custom tokens, and take care not to send P33 to an address on a different network. For larger amounts, consider a hardware wallet and keep recovery phrases offline; never share them with anyone claiming to offer support.

P33 carries market risks, including price volatility and the possibility of limited trading liquidity. Using Pharaoh or interacting with concentrated-liquidity contracts can add smart-contract, transaction, and liquidity risks. Public sources do not confirm P33’s specific token rights, redemption terms, or staking mechanics, so do not rely on assumptions about rewards or access to underlying assets. Check current documentation and contract details before interacting, and only commit funds you can afford to lose.