Morphex Launching On BNB Chain; Partners with Thena

This past month has been incredibly productive behind the scenes at Morphex. While the overall bear market across crypto continued and Multichain’s missing CEO caused concern for Multichain-backed Fantom assets, Morphex has doubled down on building, shipping innovative products, scaling users, and forming new partnerships.

Here’s a list of recent noteworthy developments including our soon-to-launch Morphies NFT reveal:

• Wrapped MLP vault allowing for revenue and rewards to auto-compound.
• New partnership with the (new) team managing SCREAM: launched collateralized wMLP, allowing a token holder to auto-compound rewards AND borrow up to 50% LTV ratio in wETH, wBTC, or stablecoins against their wMLP asset, by posting it as collateral on SCREAM.
• Morphex back-end developers have rewritten our entire keeper infrastructure code, which will improve gas costs and efficiency dramatically for the protocol after implementation.
• “Morphies”: a collection of 2500 NFTs have continued to be developed, their utility and tokenomics finalized, as well as an expected launch timeframe: END OF JUNE! We are extremely excited to reveal the utility and tokenomics of the NFTs and today, we are announcing one aspect we call “Mint & Burn”. Every NFT minted will result in a burn of 1,000 MPX from the treasury’s allocation, reducing total supply by 2.5mm MPX at a full mint. The NFT holder will retain the governance voting power of the burned 1000 MPX. As the launch date inches closer, an entire overview of all of the utilities and tokenomics associated with Morphies will be revealed. Check out four of the Morphies below:

Now, to the part you’ve all been waiting for…

MORPHEX IS LAUNCHING ON BNB CHAIN! We are so excited to have partnered with Thena as our primary liquidity host for MPX-BNB. Thena team and Morphex have been frens for a while, dating back to the early days of Morpheus Swap and Liquid Driver, on Fantom.

Partnership Details:

• $12k veTHE welcoming bonus
• 50% bribe matching up to $2k per epoch in veTHE and the ability to scale increases for the matching amount
• Co-promotions including AMAs, contests, and more…
• Top-3 bribers receive a bonus of 10% rebate of weekly bribe amount in veTHE

Morphex has always incentivized, appreciated, and advocated on behalf of its liquidity providers. This partnership will further support LPs for the immense value they bring to the success of Morphex overall. Morphex already has a 100k+ veTHE position, giving it well over 150k veTHE after receipt of the welcome bonus. These votes, in addition to votes MPX-BNB will receive for bribes, on top of the veTHE Morphex will receive for bribe matching and hopefully the Top-3 bonus, as well as the rebasing growth of the veTHE position, will provide great stability and rewards for pool2 liquidity providers. Furthermore, Morphies NFTs will tie into our LP in many ways; Morphex and Thena communities - stay tuned to hear about this!

Why did we choose BNB Chain over Arbitrum, Optimism, or another chain?

After extensive research comparing the competition, users, TVL on-chain, future opportunities, partnerships, and many other considerations, BNB chain stood out amongst all other networks as the best cross-chain expansion for Morphex.

Will wMLP be brought to BNB chain; will a market list it to be used as collateral?

Yes, wMLP will be available on BNB chain! We are in discussions with money markets and hope to have it listed soon after launch!

How will we bridge MPX from Fantom to BNB chain?

Morphex has partnered with Axelar, the team who brought axlUSDC to Fantom! The Axelar team has been extremely supportive and is currently in development to allow MPX to be bridged to BNB chain. Huge shoutout and signal of appreciation to this team, they’re doing great things.

When will MPX-BNB be live on Thena?

IF nothing delays it from happening, we expect to be live for the coming epoch! Morphex, Thena, and Axelar teams are all working quickly to make this happen.

When will Morphex launch live on BNB chain, inclusive of trading?

• Official Answer: SOON!
• Unofficial Answer: We’re aiming for June 9th-12th.

How is revenue distributed across Fantom and BNB operations?

As is “generally” industry standard: Fantom and BNB chain revenues are isolated for distribution to the stakers and liquidity providers of their respective chains. Revenues from Fantom do not cross to BNB, and vice versa.

Will the trading competition reward program on Fantom also be on BNB chain?

YES! Our trading program with 3 categories (top weekly PnL, top singular trade PnL, and volume) will be live on both chains.

TL;DR: What’s next?

• Launch MPX-BNB LP on Thena with strong incentives
• Launch Morphex on BNB chain for trading, providing liquidity, and single staking
• Secure a listing for wMLP collateral listing on BNB chain
• Launch “Morphies” NFT article deep-diving into the associated utility and tokenomics
• Launch “Morphies” NFT collection
• After all of this is complete, Morphex V2 will be announced, which is already in development.