Metavault.Trade — Next generation perp DEX with zero slippage swaps and up to 30x leverage.

farleytomboy (25)in #new • 2 years ago

overview

Blockchain becomes one of the most unique innovations in the market and it brings more stable market growth with a lot of new innovations especially in the financial market. In recent times, it has excelled in successfully developing a project with brand new Blockchain Technology that records and manages assets in a transparent, secure and immutable ledger.

Metavault.Trade is a new kind of Decentralised Exchange, designed to provide a large range of trading features and very deep liquidity on many large cap crypto assets.

Traders can use it in two ways:

Spot trading with swaps and limit orders.
Perpetual Futures trading with up to 30x leverage on short and long positions.

Metavault.Trade aims to become the go-to solution for traders who want to stay in control of their funds at all times without sharing their personal data. Its innovative design gives it many advantages over other existing DEXes:

Very low transaction fees.
No price impact, even for large order sizes.
Protection against liquidation events: the sudden changes in price that can often occur in one exchange (“scam wicks”) are smoothed out by the pricing mechanism design relying on Chainlink price-feeds. All-in-one platform: Spot and Leverage trading.

MVLP

MVLP is the platform’s liquidity provider token.

Overview

MVLP consists of an index of the assets used on the platform for swaps and leverage trading. Users can mint MVLP by adding any index asset to the liquidity pool (LP) while MVLP is burned each time a user removes any index asset from the LP.

MVLP holders earn rewards in the form of MATIC and esMVX tokens.

The MVLP token is designed to supply the liquidity required for leverage trading. As such, MVLP holders are the liquidity suppliers and they make a profit when leverage traders make losing trades. On the contrary, they make a loss when leverage traders make profitable trades. Past PnL data and other stats can be viewed on https://stats.metavault.trade/.

Minting and Redeeming

MVLP can be minted and redeemed by going on the “Buy” page from the header and clicking on the “+ LIQ.”, “- LIQ” buttons in the MVLP box.

This will take you to the following screen where you will see a recap of all MVLP characteristics:

Price.
Wallet holdings.
APR.
Total supply.

In box 1 you can choose to mint (“+ LIQ” button) or redeem (“- LIQ”) MVLP. You can choose any index asset to spend or redeem in using either button 2 or any of the buttons in zone 3.

After having chosen an asset, enter an amount in order to see the fees required in zone 4.

The price for minting and redemption is calculated based on total worth of assets in index including profits and losses of open positions / MVLP supply.

Being able to provide/redeem the assets the most/less sought after by the protocol will allow you to lower your fees.

Please note that minted MVLP immediately start accruing rewards and that there is a holding time of 15 minutes after minting before you can redeem MVLP tokens.

Rebalancing

The fees to mint or redeem MVLP vary based on whether the action is aligned with the protocol’s needs at that time or not. For example, if the index has a large percentage of ETH and a small percentage of USDC, actions which further increase the amount of ETH the index has will have a high fee while actions which reduce the amount of ETH the index has will have a low fee.

The token weights can be seen on the Dashboard.

Token weights are adjusted to help hedge MVLP holders based on the open positions of traders. For example, if a lot of traders are long ETH, then ETH would have a higher token weight, if a lot of traders are short, then a higher token weight will be given to stablecoins.

If token prices are increasing, then the price of MVLP will increase as well, even if a lot of traders have a long position on the platform. The portion reserved for long positions can be treated as stable in terms of its USD value since if prices increase the profits from that portion will be used to pay traders, and if prices decrease, the losses of traders will keep the USD value of the reserve portion the same.

Tokenomics
MVX is the Metavault.Trade’s governance and utility token.
Token Information

MVX token address:
After staking MVX, you will receive staked MVX:
MVX staked token address:
Staking
Staked MVX generates three reward types:
MATIC
esMVX
Multiplier Points
30% of swap and leverage trading fees are converted to $MATIC and distributed to the accounts staking MVX.
Treasury Assets
The MVX-USDC LP liquidity is provided and owned by the Protocol (). 100% of the fees from this trading-pair are converted into USDC and deposited into the MVLP as Protocol-owned liquidity of the every friday.
Supply
The maximum supply of MVX is 10,000,000. Minting beyond this maximum supply is controlled by a 28 day timelock, an eventuality that will only be considered if the demands of the protocol necesitate an increase of the supply.
Circulating supply changes are dictated by the number of tokens that are distributed through other DEXs, vested, burnt and spent on marketing.
MVX allocations are:
1.2 million for marketing, partnerships and community development
6 million reserved for rewards (as esMVX which can be converted over time to MVX)
1 million for liquidity on Uniswap (reserve held in the )
300,000 for
1.5 million allocated to presale

Presale
MVX token price at launch: 1 USDC
GMX community sale = 200,000 MVX at 20% discount (0.8 USDC/MVX), 200 slots
Whitelisted public presale = 1,000,000 MVX at 10% discount (0.9 USDC/MVX), 500 slots
Metavault DAO community sale = 300,000 MVX at 20% discount (0.8 DAI/MVX), 300 slots
Total $ to be raised in presale: 1,060,000 USDC + Metavault DAO Treasury allocation from MVD -> MVX sale

-> 500,000 USDC paired with 500,000 MVX initial liquidity V3 Pool
-> 60,000 USDC as marketing budget
-> 500,000 USDC as initial MVLP liquidity (owned by the MVX Treasury)
Liquidity is owned by the Metavault protocol and is stored under the .
MVX vs MVLP Price
MVX’s price is entirely speculative. MVLP’s price depends on the prices of tokens that are indexed.