BMX Progress Report #1:

It’s been just over a week since launch and BMX has already cleared $225k TVL deposited. This is exciting as we continue to scale the TVL ranks for derivative platforms on DefiLlama having reached #4 this week!

Liquidity providers continue to learn about our native auto-compounding Yearn-architectured vault, wBLT! With over $95k TVL deposited, there is no need to manually claim rewards each week. Additionally, the performance fee is 0.25%! Most have yet to realize this, as they are used to performance fees of 3%, 5%, 7%, or even 10%+!

Speaking of percentages, our native liquidity pool pair, wBLT-BMX, has cleared $150k TVL! As of now, the following rewards are streaming (in addition to wBLT auto-compounding rewards):

• 42% in wBLT (index of underlying BLT assets: wETH, axlWTC, stables)
• 19–86% in oBVM (range reflects estimated profit dependent on which option is exercised)
• 6% in wETH (protocol revenue streamed directly to native LPers)
• 60–328% in oBMX (range reflects estimated profit dependent on which option is exercised)

Wait, did I read that correctly? The ERC-4626 vault token that is “wBLT” is also used in the native liquidity pair for BMX? Yes!

We are the innovatoooooors who brought this concept to market and are so excited that more users are beginning to understand the power of our capital-efficient bacon, lettuce, and tomato model.

Because the best sandwich in crypto is our BLT, the best wrap is our wBLT, and our menu even offers a fusion section for the most adventurous with our wBLT-BMX and wBLT-(other assets). The best rewards in life come to those who are adventurous, just ask Deus and the Byte Masons!

wBLT-DEUS and wBLT-stERN liquidity pools are live on Velocimeter!

By utilizing wBLT as a liquidity pair, protocols and users are able to put liquidity to work while providing liquidity for their native asset. Instead of using wETH to pair with DEUS, they are able to deposit the wETH into BMX by Morphex to provide traders with liquidity to use for trading and earn rewards for doing so, just like any other GLP-equivalent liquidity provider. Then, by depositing their BLT tokens into wBLT, they allow the vault to auto-compound their rewards into more BLT tokens! Why would they want more BLT tokens? Because BLT is an index token for the underlying bluechip assets, they’re earning more of the underlying bluechip assets when earning more BLT tokens! The best part is they can use their wBLT tokens to pair with their native protocol token to create pool2-liquidity and earn pool2 LP rewards as well! This allows protocols to earn additional rewards on the wETH they otherwise wouldn’t be earning rewards on when paired in pool2-liquidity. It also allows protocols to pair their native asset against an index of blue-chip assets rather than entirely against wETH or any single blue-chip asset.

BMX by Morphex has taken the industry model of fractioning protocol and pool2 liquidity and turned it upside down. We are paving the road for the highway of capital efficiency and liquidity providers and protocols are taking note! One example is from our friends, the Byte Masons! Their auto-compounding stable token stERN has been paired with wBLT to create wBLT-stERN! Both tokens are individually auto-compounding their native rewards while also earning pool2 LP rewards on their pair!

If you would like to dive into BMX, BLT, wBLT, or any wBLT-(other asset) pairs, whether you are a protocol or individual, reach out to our team and our strong community of degenerates in our Discord or on X (formerly Twitter).

Welcome to the future of liquidity and capital efficiency, we’re glad you made it!

There are risks associated with using cryptocurrencies and smart contracts. We don’t neglect risk disclosures at Morphex and believe that discussion of risk advances our community and the entire market to make better decisions. Regardless, it is your responsibility to do your own research and make your own decisions. This is not financial advice nor should it be interpreted as such. To learn more about the risks and rewards for BLT, wBLT, and wBLT-BMX do your own research and remember to read the docs!