Tokenomics

The protocol’s tokenomics involves four tokens:

MCB

MCB is the protocol’s main token. Users can lock MCB to receive veMUX which entitles them to protocol income and MUX rewards.

Supply

MCB token supply cap: 4,803,144

3,803,144 MCB tokens are from the current circulation.
1,000,000 MCB tokens are reserved for future MUX vesting.
- Users can vest MUX tokens into MCB over 1 year. Please check the MUX section for more details.

The supply cap won’t change unless a governance proposal for increasing the cap is initiated and passed. If the supply cap is voted to increase, the change should take effect after a 14-day time lock.

Locked-Staking

Users can lock MCB and / or MUX to obtain veMUX, period from 2 weeks to 4 years. The locked-staking is time-weighted, so longer time locks will be allocated with more distributed veMUX.

1 MCB or MUX locked for 2 weeks = 0.009589 veMUX
1 MCB or MUX locked for 1 month = 0.020548 veMUX
1 MCB or MUX locked for 1 year = 0.25 veMUX
1 MCB or MUX locked for 4 years = 1 veMUX

Locked-Staking Tutorials

Token Address

Arbitrum: 0x4e352cF164E64ADCBad318C3a1e222E9EBa4Ce42
Ethereum: 0x4e352cF164E64ADCBad318C3a1e222E9EBa4Ce42

You can buy MCB tokens from

1inch (Arbitrum)

Bridge

MCB tokens are available on Arbitrum, BNB Chain and Ethereum. Since staking activities and rewards distribution will all take place on Arbitrum, it is recommended to bridge your MCB tokens to Arbitrum.

Recommended bridges for MCB:

MUX

MUX is the protocol’s non-transferable reward token. Users can earn MUX through holding veMUX or staking MUXLP.

Utility

MUX tokens can be utilized in two different options: stake MUX to obtain veMUX, or vest MUX into MCB.

The current supply cap for MUX is 1,000,000, and the daily emission is 1,000. The supply of MUX tokens will decrease if they are vested into MCB; the vesting process will take one year. The MUX supply won’t increase unless a related governance proposal is initiated and passed. If the supply cap is voted to increase, the change should take effect after a 14-day time lock.

Locked-Staking

The locked-staking rules and rewards distribution for staked MUX are identical with staked MCB.

Locked-Staking Tutorials

Vesting

Vest MUX to MCB tokens linearly over one year. Two channels are available for vesting:

Quota channel: Vest MUX allowed by the quota, which is correlated with veMUX. The quota increases as veMUX generates new MUX and decreases as MUX converts into MCB.
Capacity channel: Vest MUX allowed by capacity, which is determined by users’ reserved MUXLP tokens. The capacity will not change as long as users’ reserved MUXLP tokens remain staked.

MUX Vesting Tutorials

Token Address

Arbitrum: 0x8BB2Ac0DCF1E86550534cEE5E9C8DED4269b679B

MUX tokens are non-transferable and only available on Arbitrum.

veMUX

veMUX is the protocol governance token; with more veMUX comes more voting power on protocol governance. Users can obtain veMUX from locking MCB and / or MUX. Holding veMUX will grant users protocol income and MUX rewards. veMUX tokens are minted when users lock MCB and / or MUX and will be burnt as the lock time decreases.

veMUX tokens are non-transferable and only available on Arbitrum.

Rewards

The protocol income collected from trading fees will be allocated to veMUX holders; please check the Incentives section for details.

MUXLP

MUXLP is the protocol’s liquidity provider token, which users can buy with assets allowed by the pool portfolio. After buying the tokens, users can stake them to earn protocol income and MUX rewards. Please check the Liquidity section for more detailed information.