Tokenomics
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.
    • 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.
Before the launch of the MUX protocol, MCB was the governance token for MCDEX V3 and V2 protocols. For historical supply and tokenomics information, please check MCDEX V3 docs.

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 (protocol fees and third-party DEX mining rewards) 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 and DEX mining yield will be allocated to veMUX holders as follows:
Total Protocol Income × 50% × POR
1,000 MUX will be distributed to veMUX holders daily, allocated as follows:
1000 - 1000 × (1-veRate) × (1-POR)
  • veRate is the MCB and MUX staking ratio
  • veRate = veMUX Total Supply / (MCB Circulating Supply + MUX Circulating Supply)

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 (protocol fees and third-party DEX mining rewards) and MUX rewards. Please check the Liquidity section for more detailed information.

The protocol income collected from trading fees and DEX mining yield will be allocated to MUXLP stakers as follows:
Total Protocol Income × 50% × (1 - POR)
1,000 MUX will be distributed to MUXLP stakers daily, allocated as follows:
1000 × (1-veRate) × (1-POR)
  • veRate is the MCB and MUX staking ratio
  • veRate = veMUX Total Supply / (MCB Circulating Supply + MUX Circulating Supply)

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:
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