The MTLX Token

The MTLX token aligns the incentives of traders and liquidity providers on the Mettalex DEX. It incentivizes liquidity provision to Mettalex’s autonomous market makers so traders can enjoy low-slippage trades. The token also enables holders to vote on the modification of a number of fundamental system parameters.




$ 3.72



Circulating Supply


Total Supply

Token Distribution

· Liquidity providers rewards: 35m MTLX (87.5%)

· Initial distribution to FET stakers: 1m MTLX (2.5%)

· Reserve for further FET staking: 1m MTLX (2.5%)

· Team (distrib. over 3 years): 1m MTLX (2.5%)

· Stakeholders (distrib. over 1 year ): 2m MTLX (5%)


Incentivize liquidity provision

Over 80% of all MTLX tokens will be allocated as rewards to liquidity providers (LPs) on the Mettalex DEX. Governance tokens are being distributed at a linear rate to incentivize early LPs. As the total liquidity supplied to Mettalex’s autonomous market makers increases, the rate of MTLX distribution will decrease.

Vote on system parameters

The MTLX token can be used to vote on system parameters such as choice of autonomous market makers to back with liquidity, the creation of new markets, the usage of exchange fees, the percentage of the spread going to the pool, and the buyback and borrowing rates from the liquidity pools.


The Mettalex DEX will also use a fraction of the exchange fees earned on the platform to algorithmically buy MTLX tokens back from the market. This gradually reduces the total supply of MTLX in circulation.


What is yield farming?

Yield farming is any effort to put crypto assets to work and generate the most returns possible on those assets. It involves the depositing of liquidity in a smart contract-based pool in the form of cryptocurrencies or stablecoins and the generation of proportional amounts of rewards in the form of trading fees and tokens.

Why should I yield farm?

Yield farming provides long term cryptocurrency and stablecoin holders an opportunity to receive a passive income. Returns are usually expressed as an annual percentage yield (APY) and can vary from less than 1% to more than 500%. APYs are usually not fixed and vary based on market conditions.

How to yield farm MTLX?

Users have a number of options for farming MTLX tokens. They can provide BUSD liquidity to Mettalex autonomous market makers and help enable low-slippage trading on the Mettalex DEX. They can aslo join the Amplify program and provide liquidity to Uniswap V2 pools in USDT, BUSD, ETH, or FET, making trading MTLX more cost-efficient.