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 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.
All-in-one platform: spot and leverage trading.

A Multi-Asset Pool — The Solution for Trading Without Price Impact

The main innovation at the heart of Metavault.Trade is the multi-asset pool. This feature allows the platform to have shared liquidity across all the assets it supports. For most traders, the platform will seem as if it has infinite liquidity at a fixed price, completely removing the need for an order book.

Blockchain Technology and Oracle Pricing

Metavault.Trade launched on the Polygon Network.

The assets supported are six large caps and three stablecoins:

BTC, ETH, MATIC, LINK, UNI, AAVE
USDC, DAI, USDT

Choosing Polygon over other chains has many advantages:

Polygon transactions are fast and cheap.
It’s easy to onboard users thanks to the ramp-on and ramp-offs from exchanges.
Chainlink provides a large number of price feeds on Polygon. These are crucial for the platform’s pricing mechanism, and the listing of new assets also depends on them.

To set the price of each asset, the platform aggregates Chainlink and Time-Weighted Average Price (TWAP) pricing from major DEXes and CEXes.

This pricing mechanism benefits leverage traders in a huge way because it reduces the risk of liquidation from the temporary wicks one may find on some exchanges. These “scam wicks” often come from whales manipulating the order books to liquidate other traders.

As of Q1 2022, trillions of dollars are traded monthly on crypto markets. DEXes offering perpetual trading account for about $100 billion of this total — with this number growing regularly. Metavault.Trade is well positioned to grab a share of this market, in which its direct competitors make anywhere between $5 million and $60 million in fees every month.

MVX — Governance and Utility Token

Metavault.Trade has its own governance and utility token: MVX. This token entitles the owner to a portion of the earnings accrued by the exchange through user activity. The token can also be staked to help the platform increase its liquidity, which entitles the staker to 30% of the fees collected by the platform in the form of the network’s native token — MATIC.

Escrowed MVX

The platform distributes “escrowed MVX” (esMVX: a non-transferrable token) to MVX stakers, which can be used in two ways:

esMVX can be staked. Holders will receive the same dividends as with staked MVX: MATIC from platform fees, more esMVX and multiplier points. This option allows for compound dividends to accrue.
esMVX can also be unstaked and vested to be converted and distributed as MVX. Vesting esMVX then unlocks linearly over one year, with MVX being distributed with each unlocking.
However, the vested esMVX does not earn the staking divides.

Multiplier Points

Staked MVX receives Multiplier Points (MPs), which allow the holder to accrue protocol fee dividends. Each multiplier point earns the same amount of MATIC as a MVX token.

The longer MVX is staked for, the more MPs are accrued by the staker.

However, unstaking MVX or esMVX will mean the same amount of multiplier points are burned. For example, if one unstakes 50% of the MVX, one will lose 50% of MPs. Restaking MVX will start accruing MPs from 0.

Tokenomics and community

Metavault.Trade is built by the team behind Metavault DAO which fuels a whole ecosystem of blockchain and technology projects.

The code is a friendly fork of GMX, which has already been audited by ABDK Consulting [Find the audit here under the name “Gambit”, the original name of the GMX project].

As security is of utmost importance, an independent audit is about to be finalized.

After carefully considering GMX’s tokenomics, the Metavault DAO team chose to redesign them completely for Metavault.Trade. As a result, a larger proportion of the tokens have been allocated to those who invest in the platform (e.g. staking) than with GMX. The token also launched in a fair way, with no private or seed rounds.

Metavault DAO intends to be a liquidity provider in Metavault.Trade, which will make it robust and independent.

Tokenomics

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

Token Information

MVX token address: 0x2760E46d9BB43dafCbEcaad1F64b93207f9f0eD7

After staking MVX, you will receive staked MVX:

MVX staked token address: 0xaCEC858f6397Dd227dD4ed5bE91A5BB180b8c430

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 (MVX Treasury). 100% of the fees from this trading-pair are converted into USDC and deposited into the MVLP as Protocol-owned liquidity of the MVX Treasury 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 MVX-Multisig)
300,000 for MetavaultDAO team (linearly vested over two years with a three-month cliff)
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 multi-signature wallet.

MVX vs MVLP Price

MVX’s price is entirely speculative. MVLP’s price depends on the prices of tokens that are indexed.

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