Thread by @arcstake

1/21 #ExploreMEX2 with 𝑨𝑹𝑪 𝑨𝒄𝒂𝒅𝒆𝒎𝒚! 💡

🚀 𝐱𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐥𝐚𝐮𝐧𝐜𝐡: 𝐄𝐧𝐞𝐫𝐠𝐲, 𝐁𝐚𝐭𝐭𝐞𝐫𝐢𝐞𝐬 & 𝐭𝐡𝐞 𝐌𝐄𝐗𝟐.𝟎 𝐓𝐨𝐤𝐞𝐧𝐨𝐦𝐢𝐜𝐬 𝐌𝐨𝐝𝐞𝐥

2/21 Maiar DEX evolves into xExchange, with significant improvements and benefits, and correcting the most important limitations residing in the previous economics model. The new DEX aims to align its growth 🌱 trajectory with the value 💎 capture mechanisms of its native tokens.

3/21 The conversion of LKMEX v1 into LKMEX v2 is optional. xExchange will provide different levels of energy to the LKMEX v2 holders, with directly correlated benefits. Energy is based on the v1 “time lock” concept to increment utility.

4/21 The MEX/LKMEX v2 operations
🔑 𝐋𝐨𝐜𝐤𝐢𝐧𝐠: MEX can be locked in LKMEX, which equals 0 points in energy.
🔋 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠: LKMEX can be charged with energy as follows: 1 year (360 points / 1 LKMEX), 2 years (720 points /LKMEX), 4 years (1440 points / LKMEX).

5/21 🪫 𝐃𝐢𝐬𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠: the energy of each LKMEX decreases by 1 point every day.
🔄 𝐑𝐞𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠: you can recharge your LKMEX with the 1-year, 2-year or 4-year energy levels.
🔓 𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠: LKMEX with 0 energy points can be converted to MEX.

6/21 ⏩ 𝐒𝐩𝐞𝐞𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐝𝐢𝐬𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠: you can reduce the energy level to 2 y, 1 y or 0 y, which implies the payment of a removal fee, up to 80% of the amount of LKMEX. The request is executed after 10 epochs and can be canceled at any time during this period.

7/21 💥 LKMEX v1 and LKMEX v2 will only be transferred in exceptional, very limited situations, while MEX remains fully transferable.
💥 Long term holders are rewarded: 50% of the removal fee is captured by them when someone is leaving the system, which is a premiere for a DEX.

8/21 💥 Each xExchange account will have a specific energy level, based on the properties of the LKMEX owned.

9/21 Converting the total amount of LKMEX v1 to LKMEX v2 in the first 30 days after the launch of xExchange will bring major bonuses:
⚡ A boost between x2 and x10 of Metabonding rewards for the first 3 months (snapshot ~ November 24).

10/21 ⚡ An NFT that can be exchanged for a winning xLaunchapad ticket, only if the LKMEX v2 is fully charged with the level of 4 years of energy (first snapshot on November 15).

11/21 𝐋𝐊𝐌𝐄𝐗 𝐯𝟐 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬: LKMEX and Metabonding rewards with no need to stake, rewards from farming in MEX pools, max. capped supply, xLaunchpad access according to energy level, boosted APR for selected farms & Metastaking, earning from the removal fee (50%), …

12/21 … earning 0.10% of trading swaps, participating in Governance. All Metabonding rewards will go to LKMEX holders, so they will no longer be shared with EGLD stakers. LKMEX v2 energy will have a defined role in the future on xExchange for lottey, dual-yield farms, lending.

13/21 𝐌𝐄𝐗 𝟐.𝟎: The new MEX will become both a payment and access token. It will be fully transferable, tradeable on xExchange and other exchanges, buyable via on-ramp platforms (Moonpay, Transak, Ramp, etc.), …

14/21 … usable for payments on xPortal, xSpotlight, xMoney and subsequently other platforms of the ecosystem, it serves as top-up for cards, usable as liquidity in pools, entry point to all energy-based xExchange utilities & apps.

15/21 📉 At the beginning of the first year of Maiar DEX launch, the MEX emissions were 5,000,000 MEX/block, to reach 1,000,000 MEX/block at the end of the year. Starting with the second year, MEX wil become x3 less inflationary.

16/21 MEX emissions will drop considerably by 65%, a fact that will continue progressively until the eighth year. After this interval, emissions will be 0, resulting in a max capped supply of MEX and plus value created around the xExchange and the MEX token.

17/21 💲 The MEX2.0 deflationary mechanisms: 50% of removal fee will be burnt, 50% of swap fee will be burnt, 100% of the 1% fee when withdrawing from farms (during the first 48-72h) will be burnt & others (new community farms, new auction pairs, lottery pools, etc.).

18/21 📅 Roadmap timeline
November 17: whitelisting process begins
November 24: LKMEX v1 becomes non-transferable
November 28 - December 5: governance vote for the transition to v2

19/21 December 8: if proposal approved, xExchange/LKMEX v2 goes live
December 9: whitelisted SCs are enabled to support LKMEX v1 & v2
Post launch: MEX token will integrate different markets

20/21 🔋 Hoping that we have clarified the new implications of xExchange v2.0, we recommend you a great tool provided by @EgldInfo to calculate your LKMEX v2 possible energy levels and estimate the value of the removal fee:

egld.info/#/energy

21/21 🏆 🆘 In case we’ll be awarded a prize in the @MaiarExchange competition, it will be transferred to the @ arcfoundation herotag and will be used for a charitable cause in December.

@ElrondNetwork #MultiversX