Launching the $MTLX liquidity rewards program
Oct 9, 2020
The stake-drop of FET tokens for MTLX rewards has now come to an end, and 1 million MTLX have now been distributed, representing the full circulating supply and 100% owned by FET stakeholders, as the genesis of the MTLX community.
We now want the community and the seed MTLX token holders to enable market liquidity and awareness and to encourage that over the next 28 days.
As we roll out the platform and liquidity pools, we are launching a liquidity incentive to encourage network participants to provide liquidity to the MTLX / USDT pair on Uniswap.
The Mettalex team will reward MTLX token holders up to 10% of the circulating supply over the next 28 days for providing liquidity to the MTLX / USDT Uniswap pool.
MTLX contract address is: 0x2e1E15C44Ffe4Df6a0cb7371CD00d5028e571d14
The Uniswap token pair (MTLX:USDT) address is: 0x1a57ec5459928389fBB5612fF2a5e0b534fD9E2E
- Start: 4pm UTC Friday 16th October 2020
- Finish: 4pm UTC Friday 13th November 2020
In total, 2.5% of the total MTLX liquidity supplied per 7 day rolling period will be distributed to eligible users every 7 days.
- 75% of the reward MTLX will be shared by all eligible users on a pro-rata basis.
- 25% of reward MTLX will be distributed to each of the 10 users chosen randomly. In order to be eligible for this second reward, users are required to have at least 20 MTLX in the Uniswap pool.
- Users need to deposit MTLX and USDT into the liquidity pool on uniswap.
- If users withdraw tokens, they are only eligible for rewards pro rata for the number of full days that the tokens are in the liquidity pool.
- Rewards are distributed every 7 days to the originating ERC-20 wallet address
We hope you will support the development of the Mettalex ecosystem by taking part in this important ecosystem development activity, to build the audience and liquidity in the MTLX secondary market.