Morphies are a collection of 2,500 hand-drawn avatars, uniquely created by NFT artists REPEATR and Tombheads. Morphies are powerful, evolutionary fragments of the blockchain in both their art form and utility. With their arrival, they bring exciting changes to the tokenomics of Morphex on BNB Chain.
- 70% will be paired with the equivalent MPX from Treasury to form MPX-BNB LP tokens to increase POL and deepen native liquidity.
- Treasury will burn an equivalent amount of MPX in correlation to what is matched to create this LP.
- Example: If Treasury provides 300k MPX to pair with 136 BNB, an additional 300k MPX will be burned.
- This position will be held in a separate Morphies multi-sig.
- 30% will be sent to Treasury for protocol development, expenses, and incentives.
- Represent the voting power of 1000 MPX for future governance
- Burn 1000 MPX from total supply via protocol treasury
- Earn rewards based on weight within the staking pool from the MPX-BNB LP within the Morphies multi-sig.
- All rewards from this position will be streamed to staked NFTs.
With these features, a full mint at the current prices would result in approximately 4.43mm MPX burned, an estimated 9% decrease in the total supply of MPX.
With the arrival of Morphies, Morphex looks to strengthen tokenomics to deepen MPX-BNB liquidity. Bolstering our native liquidity is a top priority for Morphex and increasing the amount of rewards for LPs is necessary to scale liquidity.
- 60% to MLP — NO CHANGE
- 20% to MPX/esMPX (single staking) — Redirection of 10%
- 10% to bribes for MPX-BNB LP on partner DEXs — NEW
- 10% to protocol treasury — NO CHANGE
This change does not apply to Fantom network operations or tokenomics.
Deeper native liquidity helps the protocol immensely by affording buyers less slippage, reducing sellers’ price impact, stabilizing MPX incentive APRs, and strengthening the stability of MPX during market volatility. With this change, Morphex will be able to better support the MPX-BNB liquidity providers that provide the stability required for a healthy DeFi protocol.
Morphies NFT contract:
NFT Staking page: https://www.morphex.trade/nft-staking (opens in a new tab)