Tokenomics
Last updated
Last updated
The protocol’s tokenomics involves four tokens:
MCB is the protocol’s main token. Users can lock MCB to receive veMUX which entitles them to protocol income and MUX rewards.
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.
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.
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
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 is the protocol’s non-transferable reward token. Users can earn MUX through holding veMUX or staking MUXLP.
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.
The locked-staking rules and rewards distribution for staked MUX are identical with staked MCB.
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 tokens are non-transferable and only available on Arbitrum.
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.
The protocol income collected from trading fees will be allocated to veMUX holders; please check the Incentives section for details.
The protocol income collected from trading fees will be allocated to MUXLP stakers; please check the Incentives section for details.
There is no supply cap for MUXLP tokens. MUXLP tokens are minted when buy orders are filled, and burnt when sold.
Bridge
You can buy MUXLP tokens on Arbitrum, BNB Chain, Avalanche and Fantom. MUXLP staking and rewards distribution are only available on Arbitrum.
Recommended bridge for MUXLP:
Users can vest MUX tokens into MCB over 1 year. Please check the section for more details.
Arbitrum:
Ethereum:
Arbitrum:
MUXLP is the protocol’s liquidity provider token, which users can buy with assets allowed by the pool . After buying the tokens, users can stake them to earn protocol income and MUX rewards. Please check the section for more detailed information.
Arbitrum:
BNB Chain:
Avalanche:
Fantom:
