The partnership expands the utility of the MTLX token to include use as collateral for loans and the minting of a stablecoin - USDO.
Get all the details in the blog.
The Mettalex DEX now features six new markets to go long or short on - Copper, Steel Scrap, MATIC, BNB, ETH, and BTC/GOLD.
The best part - all of them are BUSD yield farms generating fees and a 0.15 anyMTLX per 1000 BUSD, the highest BUSD APY in the DeFi space.
Supply liquidity or trade! Why not both?
Access traditional markets with minimal friction on taking positions and reduced requirements for margin. We combine the convenience of tokens with market sizes of the commodities world.
Advanced mathematics ensures that all Mettalex markets are fully collateralized. Even more efficient mathematical operations will be introduced with the incorporation of Fetch.ai technology.
The Mettalex commodity derivatives exchange features markets unavailable anywhere in the DeFi space, including Steel, Iron Ore, Natural Gas, Aluminium, Zinc, Copper, and spreads like BTC/Gold, ETH/Gold, sCEX/sDEFI, and many more.
87.5% of all MTLX tokens will be distributed to liquidity providers (LPs) that supply stablecoin liquidity to Mettalex’s Autonomous Market Makers. That turns all Mettalex markets into “perpetual yield farms”. In addition, LPs are also rewarded with trading fees.
Stakeholders taking hedge positions assuming price hikes or dips will not lose their collateral on the basis of short term price movements. Position tokens remain valid until the date of settlement and recover in value if price recovers unlike a margin based position.
Positions on Mettalex are monitored by an autonomous agent that ensures the market has sufficient liquidity for absorbing your position in the event that you decide to exit.
Mettalex uses position tokens instead of margin positions offered by conventional trading platforms. These position tokens in turn are backed fully by individuals looking to receive a part of the trading fees from the platform. Adding another layer of stability to the exchange.