$Mex 2.0 paper is out and the new #xExchange will be live soon.
Lets see how this will impact the current farming APR, how much should we expect as rewards from Metabonding, $LKMEX staking and all other revenue streams from the new $LKMEX v2 energy model.
Details bellow🧵👇
Lets see how this will impact the current farming APR, how much should we expect as rewards from Metabonding, $LKMEX staking and all other revenue streams from the new $LKMEX v2 energy model.
Details bellow🧵👇
2/ Before doing some math lets explain some key concepts to be clear for everybody:
Energy 🔋
@MaiarExchange will introduce an energy based reward system for $LKMEX holders.
Energy is basically the number of days until your LKMEX can be unlocked.
EX: 👇
Energy 🔋
@MaiarExchange will introduce an energy based reward system for $LKMEX holders.
Energy is basically the number of days until your LKMEX can be unlocked.
EX: 👇
3/
Repesentation: 1🔋 = 1 energy
1 $LKMEX that can be unlock today has 0 🔋
1 $LKMEX that unlocks tomorrow has 1 🔋
1 $LKMEX that unlocks next year has 365 🔋
1000 $LKMEX that can be unlocked today have 0 🔋
1000 $LKMEX that can be unlocked next year have 365.000 🔋
Repesentation: 1🔋 = 1 energy
1 $LKMEX that can be unlock today has 0 🔋
1 $LKMEX that unlocks tomorrow has 1 🔋
1 $LKMEX that unlocks next year has 365 🔋
1000 $LKMEX that can be unlocked today have 0 🔋
1000 $LKMEX that can be unlocked next year have 365.000 🔋
4/ All rewards are distributed based on how many 🔋 you have not on how many $LKMEX you have
Energy🔋 is computed per wallet. No staking needed
You can increase the lock period at any time up to 4 years to receive more 🔋
With each day your 🔋 decrease by 1 for every $LKMEX
Energy🔋 is computed per wallet. No staking needed
You can increase the lock period at any time up to 4 years to receive more 🔋
With each day your 🔋 decrease by 1 for every $LKMEX
5/ Transition from current $LKMEX(v1) to new $LKMEX(v2)
You can choose to keep current $LKMEX but starting with 24 Nov it will become untransferable.
The $LKMEX(v1) will have 🔋 equal with its average unlock time
Ex: 👇
You can choose to keep current $LKMEX but starting with 24 Nov it will become untransferable.
The $LKMEX(v1) will have 🔋 equal with its average unlock time
Ex: 👇
6/ For a batch of 1.000.000 $LKMEX (v1) that unlocks 10% every month during next 10 months:
100k*30🔋+100k*60🔋+...+100k*300🔋
will result a total energy of 1.000.000*((300+30)/2)
= 1.000.000*165🔋
Disadvantages of v1 are that its energy cannot be increased or decreased.
100k*30🔋+100k*60🔋+...+100k*300🔋
will result a total energy of 1.000.000*((300+30)/2)
= 1.000.000*165🔋
Disadvantages of v1 are that its energy cannot be increased or decreased.
7/ Full benefits can be obtained by converting $LKMEX(v1) to (v2) by locking it for x4 its current average lock time.
For the $LKMEX(v1) ex from above converted in v2 you get:
1.000.000*(165*4) = 1.000.000*660🔋
Meaning your $LKMEX will be locked for 22 months instead of 10.
For the $LKMEX(v1) ex from above converted in v2 you get:
1.000.000*(165*4) = 1.000.000*660🔋
Meaning your $LKMEX will be locked for 22 months instead of 10.
8/ If you decide to convert all your $LKMEX(v1) that you had on 15 of Nov to (v2) in the first 28 days you`ll get:
-1 free launchpad ticket as NFT
-x2 to x10 APR boost on Metabonding for the first 3 months, depending on the total amount of $LKMEX converted.
-1 free launchpad ticket as NFT
-x2 to x10 APR boost on Metabonding for the first 3 months, depending on the total amount of $LKMEX converted.
9/ $LKMEX (v2) comes with a series of benefits available in the picture.
I will take each one and analyze how many tokens will you get as APR(%) and how the new economic model will change the farming APRs and rewards to help you decide on what locking schedule to use.
I will take each one and analyze how many tokens will you get as APR(%) and how the new economic model will change the farming APRs and rewards to help you decide on what locking schedule to use.
10/ Currently there are 8,045,920,000,000 $MEX in circulation according to @eCompass_io 👍
I will assume that all will transform to $LKMEX(v2) with full 🔋 for simplicity.
You can adjust the number by the amount(%) of LKMEX you think will be used and the APRs will increase.
I will assume that all will transform to $LKMEX(v2) with full 🔋 for simplicity.
You can adjust the number by the amount(%) of LKMEX you think will be used and the APRs will increase.
11/ Staking rewards - will be distributed to all $LKMEX holders
5% of 350.000 $LKMEX/bloc = 17.500 $LKMEX/block
=> 91,980,000,000 $LKMEX distributed next year
since it is distributed to all holders =>
91,980,000,000/8,045,920,000,000
= 1.14% Staking APR
5% of 350.000 $LKMEX/bloc = 17.500 $LKMEX/block
=> 91,980,000,000 $LKMEX distributed next year
since it is distributed to all holders =>
91,980,000,000/8,045,920,000,000
= 1.14% Staking APR
12/ Metabonding rewards:
Current Metabonding reward APR is around 13 % but even if they are no longer distributed to $EGLD stakers the rewards doubled but the total $LKMEX quantity is significantly larger.
The new APR will be around 2.05%
Check the image 👇
Current Metabonding reward APR is around 13 % but even if they are no longer distributed to $EGLD stakers the rewards doubled but the total $LKMEX quantity is significantly larger.
The new APR will be around 2.05%
Check the image 👇
13/ Farming rewards: 0.05% for each swap will go to $LKMEX holders.
Based on last week DEX volumes and extended to an entire year => 0.05% of the fees are around $423.894
which needs to be divided between all $LKMEX holders
=> 0.14% APR
Check the image👇
Based on last week DEX volumes and extended to an entire year => 0.05% of the fees are around $423.894
which needs to be divided between all $LKMEX holders
=> 0.14% APR
Check the image👇
14/ Since we are at DEX fees, let's take a look at how the new economic model will affect the existing farm rewards.
Now 550.000 $LKMEX/Block are distributed to farms, in the new economics only 332,500.
That's a decrease of 40% in rewards. Check the image for the new APRs. 👇
Now 550.000 $LKMEX/Block are distributed to farms, in the new economics only 332,500.
That's a decrease of 40% in rewards. Check the image for the new APRs. 👇
15. Boosting farming rewards with energy
The Farm APR percentage will be distributed in 2 ways:
A % will be distributed based on what % of LP you have from the total LP in that farm
And another will be distributed based on what % of 🔋 you have from the total 🔋
ex:
The Farm APR percentage will be distributed in 2 ways:
A % will be distributed based on what % of LP you have from the total LP in that farm
And another will be distributed based on what % of 🔋 you have from the total 🔋
ex:
16/ For a single block 200.000 $LKMEX will be distributed to the EGLD-MEX farm. 50% as base reward and 50% as boost reward.
You have 10% of the farm LP so you get 10.000 LKMEX
But you have 1% of the total 🔋 of the people that have LP in that farm so you get 1.000 $LKMEX boost
You have 10% of the farm LP so you get 10.000 LKMEX
But you have 1% of the total 🔋 of the people that have LP in that farm so you get 1.000 $LKMEX boost
17/ Every reward you get in $LKMEX will be locked for 4 years(full 🔋), but you can unlock it on the spot by paying a fee of 80% of its value.
If you have $100 worth of $LKMEX with full🔋,you can receive $20 worth of $MEX tokens. This process will take 10 days.
If you have $100 worth of $LKMEX with full🔋,you can receive $20 worth of $MEX tokens. This process will take 10 days.
18/
If your $LKMEX will unlock in 3 years you will pay only 70% fee and in 1 year you pay 50% and so on. Check the graph
If you have $LKMEX v1 you will not be able to unlock it before the schedule
You can lock and increase the lock period of LKMEX(v2) at any time with no costs
If your $LKMEX will unlock in 3 years you will pay only 70% fee and in 1 year you pay 50% and so on. Check the graph
If you have $LKMEX v1 you will not be able to unlock it before the schedule
You can lock and increase the lock period of LKMEX(v2) at any time with no costs
19/ Burning rewards:
When people unlock their $LKMEX 50% of the fee is burned and 50% are distributed as rewards.
Assuming that 50% of the people will unlock their rewards on the spot paying that 80% penalty of which 50% returns as rewards
=> 3.88% Burning rewards APR
When people unlock their $LKMEX 50% of the fee is burned and 50% are distributed as rewards.
Assuming that 50% of the people will unlock their rewards on the spot paying that 80% penalty of which 50% returns as rewards
=> 3.88% Burning rewards APR
20/ Another important benefits are:
-Extra tickets for Launchpad based on 🔋 level.
-Participating in governance with a voting power proportional with 🔋level.
-Metabonding boost similar to farming boost.
-Other future apps and partners that will use the 🔋 for their rewards.
-Extra tickets for Launchpad based on 🔋 level.
-Participating in governance with a voting power proportional with 🔋level.
-Metabonding boost similar to farming boost.
-Other future apps and partners that will use the 🔋 for their rewards.
21/ The new economic model reduces the inflation by 65% but what will be the approx inflation?
According to @eCompass_io 37,946,273,656 were burned so I used that value and assumed that 50% of new tokens will be burned.
At the next year issuance rate => 17.82% inflation
According to @eCompass_io 37,946,273,656 were burned so I used that value and assumed that 50% of new tokens will be burned.
At the next year issuance rate => 17.82% inflation
22/ To sum up the rewards:
- Launchpad - Uncomputable APR based on luck
- Staking - 1.14% - Locked 4 years
- Trading fees - 0.14% - Locked 4 years
- Metabonding rewards - 2.05% available on spot
- Burn rewards - 3.88% - Locked 4 years
Total 7.22% APR per year
Inflation 17.82%
- Launchpad - Uncomputable APR based on luck
- Staking - 1.14% - Locked 4 years
- Trading fees - 0.14% - Locked 4 years
- Metabonding rewards - 2.05% available on spot
- Burn rewards - 3.88% - Locked 4 years
Total 7.22% APR per year
Inflation 17.82%
23/ The above results are the minimum possible rewards you can get.
I personally don't think that that everybody will lock their $LKMEX with max 🔋. If half of it will be locked the rewards APR will go above 20% covering the inflation.
Let's take an example:
I personally don't think that that everybody will lock their $LKMEX with max 🔋. If half of it will be locked the rewards APR will go above 20% covering the inflation.
Let's take an example:
24/ We have 5 people each has 100 $LKMEX
1 locks it for 4 years => 146.000🔋
the other 4 lock it for 1 year => 36.500🔋 each
After a year 50 $LKMEX are distributed based on 🔋
The one who lock it for 4 years will get 25 -> 25% APR
The other 4 will get 6.25 each -> 6.25% APR
1 locks it for 4 years => 146.000🔋
the other 4 lock it for 1 year => 36.500🔋 each
After a year 50 $LKMEX are distributed based on 🔋
The one who lock it for 4 years will get 25 -> 25% APR
The other 4 will get 6.25 each -> 6.25% APR
25/ So as you can see in this highly gamified model you depend on what others are doing so it is hard to predict the exact outcome.
Just a single thing to keep in mind, all rewards except Metobonding are locked for 4 years or are 80% smaller.
Just a single thing to keep in mind, all rewards except Metobonding are locked for 4 years or are 80% smaller.
Will you lock your $LKMEX?
27/ Thank you for reading it. 🙏
I tried to explain as simply as I could the rewards part with numbers so everyone knows what should expect.
If you like it and you learned something please show some ❤️ and 🔃 the first tweet. I really appreciate it 🙌
I tried to explain as simply as I could the rewards part with numbers so everyone knows what should expect.
If you like it and you learned something please show some ❤️ and 🔃 the first tweet. I really appreciate it 🙌
https://twitter.com/OvidiuArion/status/1593674203424776192?s=20&t=snB4pBVR5q6mg9-iPzchng
People are saying that my thread is good so maybe it will qualify for #ExploreMEX2
https://twitter.com/MaiarExchange/status/1593557302614921221?s=20&t=0QSAQJ6il_z8B8ru3gRuDQ
Great tool to calculate your energy 🔋 thanks to @EgldInfo :
https://twitter.com/OvidiuArion/status/1594101062931476480?s=20&t=IsLSpqvr2KgqYowz7PE6fg
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