Liquidity Mining & MCB Staking Programs
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August 2nd, 2022

After successfully launching the MUX protocol, we are thrilled to kick off the liquidity mining and MCB staking programs.

Liquidity Mining Program

Starting Time

  • August 2nd, UTC 0am

How to Join

  • Go to the Liquidity page on the MUX protocol.
  • Use assets allowed by the MUXLP pool to buy MUXLP tokens.
    • Please check the Liquidity Composition section on the MUX protocol for the allowed assets list. Example: ETH, BTC, BNB, AVAX, FTM, USDC, USDT, etc
    • Please note that there are fees for buying MUXLP tokens. The fees will be lower when the asset weight is below its target and higher when above its target.
  • Stake MUXLP on Arbitrum to earn multiplexed protocol income (protocol fees and third-party DEX mining rewards) and MUX rewards.
    • MUX uses Arbitrum as the base chain to handle multi-chain liquidity management and staking. Please bridge your MUXLP tokens to Arbitrum for staking.

Tutorial

  • Please check the Provide Liquidity section on the docs for a step-by-step tutorial.
  • Protocol fees depend on the on-platform trading volume; third-party DEX mining profits will vary due to market conditions. Please check the Liquidity Multiplexing section on the docs for more details.

Income Allocation

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

MUXLP Profits & Risks

  • Profit Sources
    • A portion of the protocol fees
    • Funding payments
    • Multiplexed third-party DEX mining income
    • Liquidation penalties
    • MUX token rewards
  • Risks
    • Since the MUXLP pool is the counterparty of traders, MUXLP has positions holding related risks and can suffer losses
    • Pooled assets price drawback

MCB Staking Program

Starting Time

  • August 4th, UTC 0am

How to Join

  • Go to the veMUX Locked-Staking page on the MUX protocol
  • Lock MCB (from 2 weeks to 4 years) to receive veMUX, the community’s governance token
    • veMUX tokens are minted when users lock MCB and / or MUX and will be burnt as the lock time decreases.
  • Hold veMUX to earn multiplexed protocol income (protocol fees and third-party DEX mining rewards) and MUX rewards.
    • MUX uses Arbitrum as the base chain to handle multi-chain liquidity management and staking. Please bridge your MUXLP tokens to Arbitrum for staking.

Tutorial

  • Please check the veMUX Locked-Staking section on the docs for a step-by-step tutorial.
  • Protocol fees depend on the on-platform trading volume; third-party DEX mining profits will vary due to market conditions. Please check the Liquidity Multiplexing section on the docs for more details.

Income Allocation

  • The protocol income collected from trading fees and DEX mining yield will be allocated as follows:
    • Total Protocol Income × 50% × POR: Allocate for veMUX holders (in ETH)
    • POR = Protocol Owned Liquidity / Total Liquidity
  • 1,000 MUX will be distributed to veMUX holders and MUXLP stakers daily, allocated as follows:
    • 1000 × (1-veRate) × (1-POR): Allocate for MUXLP stakers
    • The rest will be allocated for veMUX holders
    • veRate = veMUX Total Supply / (MCB Circulating Supply + MUX Circulating Supply)
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