How about some free MTLX tokens?

May 14, 2021

Don’t miss your chance to get free MTLX by benefiting from several currently available opportunities.

Mettalex is a decentralized commodity derivatives trading platform founded with the mission to bring the $20 trillion commodities market to DeFi. In just a few months since the DEX’s launch, the team behind Mettalex managed to announce a number of strategic partnerships and to keep expanding the range of existing commodities markets.

Going forward, the power of determining the platform’s parameters will go into the hands of Mettalex’s stakeholders. This is the primary purpose for the existence of the MTLX token – to enable users to govern and vote on policies such as choice of AMMs, creation of new markets, usage of exchange fees, buyback and borrowing rates from the liquidity pool. 

The majority of all MTLX tokens (over 80%) will be gradually distributed as rewards to Mettalex liquidity providers over a period of more than eight years. This process has already started with a number of programs which we’ll enlist below. Take part in one or all of them and earn free MTLX tokens – there will only ever be 40 million of them. 

How to get free MTLX tokens?

The Mettalex team is consistently creating new opportunities for you to earn free MTLX tokens, either by yield farming, staking, or simply holding tokens. Learn more about the currently running programs and take advantage of them.

Yield Farming in Mettalex Amplify

Mettalex Amplify is an ongoing long-term, high yield farming initiative that gives liquidity providers the opportunity to generate annual percentage returns of up to 275%. Different iterations of the program are gradually announced to make it convenient for users to earn MTLX by providing liquidity in a number of tokens: 

Amplify on Ethereum launched in January 2021 and will continue until the depletion of the 1,000,000 MTLX pool. Users can provide one-sided liquidity in USDT, ETH, FET, or Uniswap-V2 liquidity providers (LPs) tokens on amplify.mettalex.com

There are still more than 570,000 MTLX tokens remaining!

Detailed information can be found here and here.

Mettalex launched Amplify on Binance Smart Chain to help users avoid hefty gas fees and slow transaction confirmation times on Ethereum. Deposit one-sided liquidity in BUSD or PancakeSwap V1LPs tokens to farm anyMTLX on amplify-bsc.mettalex.com

The program will run until the 250,000 anyMTLX tokens pool is exhausted. 

More than 180,000 anyMTLX remain!

Detailed instructions can be found here.

IMPORTANT: The Mettalex Amplify pool on PancakeSwap is currently being migrated to V2. Users can still provide one-sided liquidity in BUSD or available PancakeSwap V1 LP tokens using the Amplify interface. anyMTLX:BUSD liquidity cannot be added to the V1 PancakeSwap Amplify pool anymore so new V1 LP tokens cannot be created. Once the smart contracts are set up and the UI interface is updated, users will be able to transfer their liquidity to the V2 Amplify pool with a single click. Several BSC transactions will need to be approved.

MTLX Airdrop for FET holders on Binance.com

Binance.com users holding FET tokens in the period between April 13 and June 1, 2021, can receive free MTLX tokens. During the time of the airdrop, snapshots of users’ FET holdings will be performed weekly, as an average of 10,000 FET is eligible for rewards. Get more details here.

The next snapshot date is May 18, 2021.

Staking FET in Fetch.ai Phoenix

The Phoenix program allows FET holders to stake FET and earn an additional yield in MTLX tokens. 250,000 MTLX tokens have been dedicated to this initiative to be distributed as rewards. Generated MTLX can be claimed at any time.

The first MTLX-dedicated iteration of the Phoenix program is about to end on May 19, 2021, so perhaps joining this late might not make sense.

In the coming months, FET holders will have more opportunities to stake FET in exchange for free MTLX, this time on Fetch.ai’s recently launched mainnet – 750,000 MTLX are still reserved for similar stake-drop campaigns.

Mettalex Traders Bounty

Mettalex’s first community bounty is dedicated to traders and to traders’ referrers. The bounty offers two rewards pools amounting to $20,000 in anyMTLX tokens. All participating traders must generate a volume of at least 1000 BUSD to be considered eligible for the rewards. 

Go to: dex.mettalex.com and test the DEX out. 

The bounty will run until May 26, 2021. Find all the information and registration forms here, and a walkthrough video here.

Upcoming: Mettalex DEX LP Rewards

Liquidity providers are a crucial component of the Mettalex commodity derivatives exchange. That motivates one of the major Q2 goals for Mettalex, namely to launch MTLX rewards for users providing liquidity to the DEX autonomous market makers. Initially, only stablecoin holders will be able to provide liquidity and be rewarded for it with MTLX tokens but we are currently looking into ways of enabling cryptocurrencies as well. 

Each market on Mettalex will soon become a long-term yield farm, where LPs are rewarded with both trading-generated fees and MTLX tokens. Low-liquidity markets will offer the advantage of higher APYs. 

Follow Mettalex’s official communication channels for updates on the upcoming launch of MTLX rewards.