Liquidity providers (LPs) can currently yield farm MTLX tokens only on the Binance Smart Chain Mettalex DEX. Supported collateral types include BUSD, USDO, and anyMTLX/BUSD PancakeSwap LP tokens.
LPs on Ethereum can deposit liquidity in Uniswap’s MTLX/USDT, MTLX/ETH, or MTLX/FET pools to get trading fee rewards.
Binance Smart Chain
Has Mettalex Amplify Ended?
Mettalex’s dedicated yield farming program Amplify ended on November 1, 2021. The 5% withdrawal fee was removed.
Is it possible to yield farm MTLX tokens on Ethereum?
Due to extremely high gas fees, we have decided to not launch the Mettalex DEX or а yield farming program on Ethereum. The team’s focus will be on Binance Smart Chain.
It is currently possible to use the Mettalex DEX on Binance Smart Chain to trade crypto and traditional commodities, as well as, to yield farm MTLX tokens (called anyMTLX on Binance Smart Chain) with BUSD, USDO, and anyMTLX/BUSD PancakeSwap LP tokens.
What is the MTLX token drip rate / APR for the DEX pools?
The current total drip rate is 0.0215 MTLX/block (620 MTLX/day) split between:
How do I deposit liquidity in the Mettalex DEX?
Anyone who owns BNB (for payment of gas fees only), BUSD, USDO, or has supplied liquidity in the anyMTLX/BUSD pool on PancakeSwap can yield farm on the Mettalex DEX on Binance Smart Chain. Here is how:
Are there any fees required to participate?
All operations on the Binance Smart Chain networks require the payment of gas fees. Those are currently very low, ranging from a few cents to about a dollar (at 20 Gwei).
When can I redeem/unstake my liquidity?
You can withdraw liquidity from the Mettalex DEX on Binance Smart Chain at any time.
Are there any fees for redeeming/unstaking liquidity?
There are currently now fees for unstaking and withdrawing liquidity from the Mettalex DEX. However, we plan to introduce a fee in the next weeks. Once this happens, we will make an announcement on all Mettalex-related social media channels and will update this FAQ.
Should I be worried about impermanent loss?
Depositing liquidity in the Mettalex DEX is not risk-free. You can learn more about the associated risks here. If you are supplying anyMTLX/BUSD LP tokens to the DEX, you will also be exposed to impermanent loss on PancakeSwap. It is possible that some of the negative effects associated with impermanent loss will be dampened by the MTLX token rewards.