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.
Ethereum Contract Address
Binance Contract Address
· 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%)
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.
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.