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Previous Tracer DAO. Trade with liquidity, leverage, low fees. Mycelium Perpetual Swaps is a decentralised derivative exchanges which allows users to open leveraged long and/or short positions on crypto-assets.
- Traders can trade on a series of crypto-assets from their metamask wallet.
- MLP Stakers earn rewards through a combination of ETH Rewards (fees generated from swaps and leveraged trading converted to ETH), and esMYC (These are rewards in the form of a token which has the right to vest into $MYC when staked in the esMYC vesting vault). Mycelium Perpetual Swaps will be boosting MLP returns to a Targeted Yield of 25% APR through a combination of esMYC distributions and ETH earned by fees generated for the first month of the Perpetual Swap product’s operation. Click here for Information for LPs.
- MYC Token holders can benefit from discounts while trading with Mycelium Perpetual Swaps, in addition to potential MYC buybacks.
- The MLP (Mycelium Liquidity Pool) is a basket of blue-chip assets and stablecoins pooled together, which acts as a global AMM for leveraged trading. Liquidity providers can deposit any whitelisted asset into the MLP pool in return for MLP tokens, which represent the LPs share in the diversified liquidity pool.
- LPs that deposit into the Mycelium Liquidity Pool have price exposure to all assets within the collective liquidity pool, not only the asset they deposit. In other words, all LPs will end up with the same position regardless of the asset they deposit. The magnitude of their exposure to the base assets in the pool is the sum of the base assets (non-stablecoins) that aren't being lent out to traders, in addition to the synthetic long-exposure that they get from market making short positions.
- The MLP tokens have the potential to appreciate in capital due to it's long exposure. See for more details.
- Seperate from this, Liquidity Providers can earn income through:
- ETH Rewards: The MLP pool earns 70% of fees generated from swaps and leveraged trading. These fees are converted to ETH, before being continuously distributed to MLP stakers.
- Escrowed MYC Rewards: These are rewards in the form of a token which has the right to vest into $MYC when staked in the esMYC vesting vault.
- The LP pool earns 70% of fees generated from swaps and leveraged trading. These fees are converted to ETH, before being continuously distributed to MLP stakers. The flow of fee generation is displayed in the following image:
Escrowed MYC (esMYC)
- A component of LP's return will be given in esMYC rewards. esMYC is a token which has a right to vest into $MYC when staked in the esMYC vesting vault. The vesting period will be linearly over 6 months. To vest esMYC into MYC, users will need to deposit them in the esMYC vesting vault. esMYC can be transfered to another address and remain eligible to vest to MYC.