Introduction
Metavault.Trade achieved several project milestones in September, including dApp deployment, starting work on our new dApp and securing partnerships and co-marketing initiatives. We also completed our rebranding efforts, allowing us to devote our efforts and resources to Metavault marketing and scaling more quickly. Let's dive into what happened in September.
About Metavault.Trade
Metavault.Trade is a decentralized and perpetual exchange with low swap fees and trading without price impact. It allows simple exchange and perpetual trading up to 30x. Trading is supported by multi-asset pools which are in turn backed by liquidity providers. Liquidity providers receive rewards from swap fees, market building, rebalancing, and perpetual trading. 100% of platform revenue is distributed to stakeholders.
Traders can use it in two ways:
1.Spot trading with swaps and limit orders.
2.Perpetual Futures trading with up to 30x leverage on short and long positions.
Metavault.Trade aims to become the go-to solution for traders who want to stay in control of their funds at all times without sharing their personal data. Its innovative design gives it many advantages over other existing DEXes:
•Very low transaction fees.
•No price impact, even for large order sizes.
•Protection against liquidation events: the sudden changes in price that can often occur in one exchange (“scam wicks”) are smoothed out by the pricing mechanism design relying on Chainlink price-feeds.
•All-in-one platform: Spot and Leverage trading.
A Multi-Asset Pool - The Solution for Trading Without Price Impact
The main innovation at the heart of Metavault.Trade is the multi-asset pool. This feature allows the platform to have shared liquidity across all the assets it supports. For most traders, the platform will seem as if it has infinite liquidity at a fixed price, completely removing the need for an order book.
Blockchain Technology and Oracle Pricing
Metavault.Trade launched on the Polygon Network.
The assets supported are six large caps and three stablecoins:
•BTC, ETH, MATIC, LINK, UNI, AAVE
•USDC, DAI, USDT
Choosing Polygon over other chains has many advantages:
•Polygon transactions are fast and cheap.
•It's easy to onboard users thanks to the ramp-on and ramp-offs from exchanges.
•Chainlink provides a large number of price feeds on Polygon. These are crucial for the platform's pricing mechanism, and the listing of new assets also depends on them.
To set the price of each asset, the platform aggregates Chainlink and Time-Weighted Average Price (TWAP) pricing from major DEXes and CEXes.
This pricing mechanism benefits leverage traders in a huge way because it reduces the risk of liquidation from the temporary wicks one may find on some exchanges. These "scam wicks" often come from whales manipulating the order books to liquidate other traders.
As of Q1 2022, trillions of dollars are traded monthly on crypto markets. DEXes offering perpetual trading account for about $100 billion of this total - with this number growing regularly. Metavault.Trade is well positioned to grab a share of this market, in which its direct competitors make anywhere between $5 million and $60 million in fees every month.
Staking
Staked MVX generates three reward types:
•MATIC
•esMVX
•Multiplier Points
30% of swap and leverage trading fees are converted to $MATIC and distributed to the accounts staking MVX.
MVX - Governance and Utility Token
Metavault.Trade has its own governance and utility token: MVX. This token entitles the owner to a portion of the earnings accrued by the exchange through user activity. The token can also be staked to help the platform increase its liquidity, which entitles the staker to 30% of the fees collected by the platform in the form of the network's native token - MATIC.
Escrowed MVX
The platform distributes "escrowed MVX" (esMVX: a non-transferrable token) to MVX stakers, which can be used in two ways:
1.esMVX can be staked. Holders will receive the same dividends as with staked MVX: MATIC from platform fees, more esMVX and multiplier points. This option allows for compound dividends to accrue.
2.esMVX can also be unstaked and vested to be converted and distributed as MVX. Vesting esMVX then unlocks linearly over one year, with MVX being distributed with each unlocking.
However, the vested esMVX does not earn the staking divides.
Multiplier Points
Staked MVX receives Multiplier Points (MPs), which allow the holder to accrue protocol fee dividends. Each multiplier point earns the same amount of MATIC as a MVX token.
The longer MVX is staked for, the more MPs are accrued by the staker.
However, unstaking MVX or esMVX will mean the same amount of multiplier points are burned. For example, if one unstakes 50% of the MVX, one will lose 50% of MPs. Restaking MVX will start accruing MPs from 0.
Tokenomics
MVX is the Metavault.Trade's governance and utility token.
👉MVX token address: 0x2760E46d9BB43dafCbEcaad1F64b93207f9f0eD7
After staking MVX, you will receive staked MVX:
MVX staked token address:0xaCEC858f6397Dd227dD4ed5bE91A5BB180b8c430
Supply
The maximum supply of MVX is 10,000,000. Minting beyond this maximum supply is controlled by a 28 day timelock, an eventuality that will only be considered if the demands of the protocol necesitate an increase of the supply.
Circulating supply changes are dictated by the number of tokens that are distributed through other DEXs, vested, burnt and spent on marketing.
MVX allocations are:
•1.2 million for marketing, partnerships and community development
•6 million reserved for rewards (as esMVX which can be converted over time to MVX)
•1 million for liquidity on Uniswap (reserve held in the MVX-Multisig)
•300,000 for MetavaultDAO team (linearly vested over two years with a three-month cliff)
•1.5 million allocated to presale
Presale
MVX token price at launch: 1 USDC
•GMX community sale = 200,000 MVX at 20% discount (0.8 USDC/MVX), 200 slots
•Whitelisted public presale = 1,000,000 MVX at 10% discount (0.9 USDC/MVX), 500 slots
•Metavault DAO community sale = 300,000 MVX at 20% discount (0.8 DAI/MVX), 300 slots
•Total $ to be raised in presale: 1,060,000 USDC + Metavault DAO Treasury allocation from MVD -> MVX sale
.-> 500,000 USDC paired with 500,000 MVX initial liquidity V3 Pool
.-> 60,000 USDC as marketing budget
.-> 500,000 USDC as initial MVLP liquidity (owned by the MVX Treasury)
Liquidity is owned by the Metavault protocol and is stored under the multi-signature wallet.
Start exploring Metavault now
Contracts
List of Metavault.Trade contracts.
Polygon
Token contracts:
•MVX 0x2760e46d9bb43dafcbecaad1f64b93207f9f0ed7
•esMVX 0xd1b2f8dff8437be57430ee98767d512f252ead61
•USDM 0x533403a3346ca31d67c380917ffaf185c24e7333
•MVLP 0x9f4f8bc00f48663b7c204c96b932c29ccc43a2e8
Today is AMA day
with the Crypto Carbon Group!
Steve $MVX co-founder, will be guest in the Crypto Carbon Lounge Telegram channel! Join us @ 17:00 UTC
Venue
Trading pairs
👉MVX-USDC Uniswap Pool: 0x30f5c777ab316e6878D2b71a32274e4C2842327A
Join our social media.
More information:
•Website: https://metavault.trade
•Telegram: https://t.me/MetavaultTrade
•Twitter: https://twitter.com/MetavaultTrade
•Medium: https://medium.com/@metavault.trade
•Discord: https://discord.com/invite/metavault
•Github: https://github.com/metavaultorg
•Documentation: https://docs.metavault.trade
Wallet addres Polygon: 0xB59AE6e51B7eb627A7762d5AAeF2324f98eCaA23
Author: jascov
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