Incentivized BMX Single Staking:
- No lock up.
- Yes, multiplier points.
- Rewards: 10% of revenue distributed as wETH (from treasury reallocating its share to single-stakers) and oBMX (farmed by treasury).
- wen? Tomorrow! It will be live on https://bmx.morphex.trade/earn.
A new BMX trading competition is live!
- $8000 worth of total rewards over a 4-week cumulative period.
- Prize distribution: $1500 weekly awards (70% wBLT; 30% oBMX) for weeks 1–3 and $3500 for week 4.
- Each trading week begins on a Wednesday at 00:00 UTC and ends on the next Wednesday at 00:00 UTC, with prize distributions happening each week to the top 6 traders on the leaderboard (distributions happen within a few days after the trading week has finished).
- To qualify, a minimum of $25k in margin trading volume must be generated over the 4 weeks.
Integrating SYMMIO on BMX:
We are excited to announce that BMX by Morphex on Base will integrate our own SYMMIO front-end alongside our BLT market, allowing over 100+ trading pairs to become available to traders!
This will run in parallel to our BLT market, providing two options for traders to use to access pairs and liquidity. SYMMIO provides liquidity to all front-ends, so Morphex doesn’t need to source liquidity for our hosted front-end. Revenue will stream through our distribution channels with more information on exact percentages to follow.
SYMMIO is not yet available on Fantom, once it becomes available, we plan to launch it on Fantom as well.
wBLT Lending Market:
Integrating SYMMIO opens up the ability for wBLT to be used as collateral on our SYMMIO front-end, via a collateralized lending market all within the UI. After this, Morphex would look to integrate wBLT into a cross-chain bridge to allow for cross-chain transfers and deposits into wBLT. This not only opens up our BLT market to other chains but will also allow a user from another chain such as BNB Chain, to deposit directly into wBLT, borrow stables against their wBLT collateral, and then receive those stables back onto BNB Chain to use however they desire, even to trade on another SYMMIO front-end perhaps.
The SYMMIO integration with a native lending market adds new revenue streams and additional utility for wBLT while unlocking more pairs for traders across both perpetual trading markets. Many have asked how BMX plans to attract more traders and we believe between these developments and using the majority of the RetroPGF grant for trading competition incentives, we will see increased growth and adoption on Base.
Future Updates:
The next update will focus entirely on Fantom and BNB Chain, along with MPX and esMPX. We want to acknowledge that the Fantom proposal has taken a while and we appreciate your patience and understanding. It’s a lengthy proposal by itself and we’ve decided to separate announcements into three parts. Today’s is focused on Base, and the second one is Fantom and BNB Chain, with the following third one being a protocol-wide update including the announcement of a bug bounty the Morphex team was awarded along with other grant information, and a special surprise announcement.
Morphex has remained building through bull and bear, and the data and analytics in addition to our innovative designs are proof of that! Our community is the strongest it’s ever been, and we look forward to welcoming more into the Morphex community. Stay tuned for Updates 2 and 3, coming this week!
