BMX Tokenomics & Distribution

Changes

• As of May 8, 2024, oBMX emissions have ended per BIP 1 (opens in a new tab), with a total of 402.7K oBMX burned as of August 14, 2024.
• BMX from team and incentives multisig addresses have been burned, with a total of 179,688 BMX (bought back with treasury wBLT) burned as of June 15, 2024.
• Individual burns are reported in the #burns channel on our Discord (opens in a new tab).
• Approximate new total supply is estimated to be 3.22M BMX (burns ongoing).

Total Supply: 2.85M BMX as of October 14, 2024 (previously 10M)

Distribution

Distribution below is based on 3.22M total supply on emissions conclusion.

Incentives: 2.25M BMX as oBMX (70%) across ~35-months/3yrs.

• All incentives have been burned, there are no longer any emissions since May 08.

Treasury: 322.61K BMX (10%)

• Incentives have been separated from Treasury’s allocation, which cannot be used for incentives unless directed by governance. Treasury’s primary purpose is to support the protocol's expenses, scale the protocol, and increase protocol owned liquidity. Allocation could be used for capital rounds in the future with lock-up terms.
• Previously was 850k BMX before burns

Team: 419.39K BMX (13%)

• Scaled down to match original allocation % with new total supply after burns, was previously 1.3 million BMX

MPX Claimable Airdrop: 600K BMX as oBMX (18.5%)

• Each month for six-consecutive months, 100,000 oBMX will be distributed based on a snapshot taken at random during the month. Those holding MPX, MPX-FTM, MPX-BNB, and Morphex NFTs will be able to claim their share of 100k oBMX each claim period. A new snapshot is taken randomly sometime within the 30-day window which is not announced prior to or after it has been taken. The block used for the snapshot will be posted on the UI when that claim period goes live. Claim periods will last 30-days, any unclaimed oBMX after the claim period ends is forfeited. All unclaimed oBMX will be redistributed to Morphex NFT holders in a separate claims process; more details to be announced later. Team vesting addresses are excluded from this airdrop except for NFT positions as none were allocated to team; all if any were purchased. This airdrop amount represents approximately 24% of circulating supply after the sixth distribution occurs (excluding Treasury’s allocation).
• This is no longer active.

Initial Seed Liquidity: 80.65K BMX (2.5%)

• Will be paired with $25k worth of wBLT to provide a $50k TVL wBLT-BMX native liquidity pool at launch. Launch FDV is approx. $1mm.

Protocol Revenue Allocation

Classic market:

• 60% to BLT (streamed as wETH; auto-compounded into BLT if staked in wBLT)
• 30% to wBLT-BMX LPs (direct to LP gauge streamed as wETH)
• 10% to BMX single staking

Freestyle market:

• 30% to trader incentives
• 30% to native liquidity incentives (i.e. wBLT-BMX and wMLT-BMX)
• 20% to BLT / MLT
• 10% to BMX single staking
• 5% to Treasury for the sole purpose of acquiring $SYMM
• 5% to acquiring BMX on-market and burning it

Incentivized BMX Single Staking:

• No lock up.
• Earn multiplier points.
• Rewards: 10% of revenue distributed as wETH (treasury share directed to stakers) and oBMX (farmed by treasury).