What is MUX?
MUX is a DeFi protocol that revolutionizes cryptocurrency trading by providing a decentralized trading aggregator alongside leveraged trading on the same platform.
The aggregator finds the best price for trades across different markets so you can get the most out of your trade. As for leverage trading, users can also borrow up to 100 times what they have to trade with (100x leverage).
Overall, MUX is designed to enhance the user experience by providing traders with optimized trading costs, deep aggregated liquidity, and leverage, among other features.
MUX extends its functionalities across multiple blockchains; it is accessible to users on Arbitrum, BNB Chain, Optimism, Avalanche, and Fantom. To ensure seamless and efficient liquidity and trading activities across different networks, the platform Implements a shared liquidity model designed for minimal price impact and optimal capital efficiency.
The platform also offers up to 100x leverage on a variety of crypto assets. And with a strong focus on building a robust community, it provides structured rewards and incentives that align the interests of traders, liquidity providers, and protocol stakeholders.
Let’s take a closer look at the various components that make up MUX.
What is Unique About MUX?
MCB
MCB is the main token of MUX. Users can lock MCB to receive veMUX, entitling them to a share of the protocol income and rewards in MUX.
MUX
MUX is a non-transferable reward token of the protocol. It is earned by holding veMUX or staking MUXLP and can be staked to obtain veMUX. It can also be converted into MCB through a vesting process.
veMUX
veMUX is MUX’s governance token. It is granted to users who lock their MUX tokens, endowing them with voting rights and a share of the protocol revenue.
MUXLP
MUXLP is the liquidity provider token of the protocol. It can be purchased with approved assets and staked to earn protocol revenue and MUX rewards.
DegenLP
DegenLP is the liquidity pool of MUX’s Degen Protocol. The protocol is designed for sophisticated traders and liquidity providers, focusing on high-risk, long-tail assets, which are less common and more volatile investments, for specialized trading experiences.
The DegenLP is stablecoin-only and will only be open to whitelisted sophisticated traders and liquidity providers due to the high-risk exposure.
Multi-Chain Native Protocol
MUX’s native trading protocol is available across various blockchain networks with uniform market depth and liquidity. Users on Arbitrum, BNB Chain, Optimism, Avalanche, and Fantom can trade against the MUX native pool.
Universal Liquidity Mechanism
MUX employs a universal liquidity mechanism that aggregates liquidity from multiple sources to create more stable markets. It is designed to enhance capital efficiency by enabling the use of pooled assets across networks without needing physical transfers.
Protocol-Owned Liquidity (POL)
A portion of the liquidity is retained by the protocol to reduce its dependency on external liquidity providers. This supports the platform’s economic stability while addressing its liquidity needs.
Innovative Risk Management Tools
MUX implements dynamic price impact adjustments to reduce risks in leveraged trading. Overall, it aims to provide a safer trading environment by managing market volatility and associated risks.
With these, you have several avenues to participate in DeFi.
What can I use MUX for?
- Leverage Trade:
MUX lets you engage in up to 100x leveraged trading on a diverse range of cryptocurrency assets. This is enhanced by the platform’s liquidity mechanism, which allows for minimal price impact and optimal cost.
- Provide Liquidity:
You can provide liquidity to the MUX ecosystem by purchasing and staking MUXLP tokens.
You’ll receive compensation in the form of protocol income and MUX rewards, in exchange for contributing to the platform’s liquidity.
- Stake for Additional Rewards:
You can also stake MUXLP and veMUX tokens to earn additional rewards and protocol income.
This opportunity allows you to secure a more active role in the ecosystem while enhancing personal investment returns.
- Engaging with Long-Tail Markets:
The DegenLP pool lets you engage in high-risk risk trading of long-tail assets. It exposes you to
investment opportunities in less common, more volatile assets, albeit with the potential for higher returns.
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