Mettalex Community Update | August #1

Aug 23, 2021

Marketing Updates:

  • Partnership with OpenDAO and OCP – Through a joint partnership between Fetch.ai, Mettalex, OpenDAO, and OCP, we succeeded in expanding the utility of both FET and MTLX tokens by enabling their use as collateral for minting and borrowing. Holders can now stake anyMTLX, use their stake to mint the USDO stablecoin, or borrow BUSD and other stablecoins, and earn rewards in OmniC at every step. Additionally, they can supply one-sided BUSD liquidity and earn anyMTLX to re-invest and start the process all over. Learn more here and watch a walkthrough video here.
  • USDO/anyMTLX pool added to Binance Smart Chain – We extended our partnership with OpeanDAO and OCP even further by launching two more anyMTLX-related liquidity pools. The USDO/anyMTLX pool on PancakeSwap is now live and offers rewards in OCP tokens – the governance token of the OCP ecosystem. The OCP tokens can in turn be staked in the OCP/anyMTLX pool on OmniFarms for rewards in anyMTLX. More information is available here.
  • Yield farming on Binance Smart Chain: APYs and Risks – With the launch of new MTLX liquidity pools on Binance Smart Chain and, especially, with the Mettalex DEX becoming a farm itself, we decided to look more deeply into BSC’s  yield farming ecosystem and to weigh in pros and cons. Read the full article here.
  • Mettalex’s first bounty campaign: Meme / Video / Gif Competition – Striving to keep our community happy and engaged even during the summer holiday, we launched Mettalex’s first bounty campaign. We invite you to create a Mettalex-themed meme, video, or gif and win rewards. Check out the rules here – 5 winners will share $500 worth of MTLX/anyMTLX tokens!
  • Sponsorship deals with influencers – Our efforts to strike partnerships with Key Opinion Leaders came to fruition as The Defiant featured Mettalex in their weekly Quick Take video. We continue to reach out and discuss potential collaboration with prominent crypto influencers!
  • Mettalex Amplify Extension – Mettalex’s long-term high yield farming program Amplify got extended as additional 250,000 MTLX tokens were added to the Amplify liquidity pools on Ethereum and Binance Smart Chain. Don’t miss your chance to provide liquidity and earn rewards at ~275% APY by staking ETH, FET, or USDT here or by staking BUSD here. This is the first extension of Mettalex Amplify, there might be more.
  • Q3/Q4 Roadmap – The Mettalex team is currently preparing to present our main Q2 achievements and a roadmap of the goals we plan to pursue in Q3/Q4 of 2021. More information will be shared soon.

Development Updates:

  • New Stablecoin Collateral – We are working towards introducing other stablecoins as collateral on the Mettalex DEX and we are almost ready to share our progress.
  • LP Tokens Collateral – The dev team deepened its research into using Uniswap and PancakeSwap LP tokens as collateral on the DEX. The focus is on making Amplify LP tokens available as collateral, but other LP tokens could also be implemented if we are successful.
  • UI and Performance Improvements – The team continued implementing UI/UX enhancements. Over the last two weeks, they were addressing, testing, and improving UI issues such as the P&L calculation on Mettalex DEX markets. They also automated the testing of the Mettalex web app and improved its performance.
  • Mobile App – The mobile app development is progressing with new dashboard functionalities.