The market is up and Metavault burns too🔥
This week we burned 2,014 $MVX from the buyback program while APRs remained stable!
As a result, a total of 930,386 $MVX has been burned, which accounts for 23.25% of the initial circulating supply
Polytrade is now on @arbitrum.
Polytrade is partnering with Arbitrum to bring RWAs to the center stage.
Users can look forward to using the marketplace on Arbitrum and engaging with leading Arbitrum native #RWA protocols at Polytrade.
Weeks are progressing, and so does the MVX burn! 🔥
This week we burned 8,136 $MVX and 13,212 esMVX while APRs remain stable!
We'll soon be accelerating the burn program.
Stay tuned on Monday to find out how ♏️
In addition to the generated income, it is important to note that the MVX token:
🔹 Has no inflation and will never have any
🔹 Has a buyback and burn mechanism that has already burned 24% of the supply, in just ~ 6 months
Based on this innovative product and the upcoming release of our casino v2, we are transitioning to Chapter 3 of Metavault: the Backend as a Service model.
The $MVX tokenomics will soon face major revamping, starting next week with a proposal ♏️
To prepare for this, it's essential for the community to grasp the current status of MVX.
Here's everything you need to know about the MVX token in just 2 minutes 🧵
In the meantime, the fees and revenue earned through collaborations have been used to buyback and burn.
Almost 25% of the supply has been burned since inception ~6 months ago.
Those exclusive partnerships ensured the development of our viable model while facilitating continuous development and presence on multiple chains.
The latest development?
Our own Perp aggregator offering up to 1000x Open Interest on cryptos, synthetics, commodities …
By not only developing the DeFi hub on Metavault, we provided the backend infrastructure to multiple leading projects such as
• @KinetixFi
• @QuickswapDEX (Quickperps on Polygon zkEVM)
• @GrizzlyFi
After more than a year of operating through this system and developing exclusive features, such as the trailing stop, we initiated Chapter 2 to start expanding the services.
We launched our DeFi Hub to provide a unique user experience, paving the way to onboard the masses.
The Chapter 1 focused on developing our presence on the Polygon POS ecosystem through a friendly GMX fork. The results?
• $810M in volume
• $2.1M in fees collected and redistributed to users
• 15k + users
• Prediction markets
• Bridge & Cross-chain swaps
• Casino
• More to come ⌛
All in one place, think of it as the Amazon of cryptos.
To understand where Chapter 3 comes from, let's circle back to the two previous ones.
This model will empower partner chains by getting native hubs using Metavault infrastructure to directly facilitate interactions with:
• V2 & V3 DEX models
• Spot aggregation
• Active liquidity management
• Unique Perp aggregator w/ 1000x Open Interest
After years of work and development, we are thrilled to introduce Chapter 3 of Metavault: the Backend As A Service endgame.
In this chapter, we'll deploy a BaaS model by developing DeFi hubs on key chain partners, providing value accessibility to the whole ecosystem.
A 🧵
LET'S DIVE IN THE DETAILS OF OUR REBRAND!🎉
🌐1/Identity:
As a crucial part of this rebrand, we're bidding farewell to BoredApe world and stepping into a new identity, Ape Sui Society.
Thus giving uniqueness and originality to the project, with a new but still Ape-themed art!
#APESNOTLEAVING #SUI #NFT #NFTCommunity #ApeSuiSociety