As February wraps up, it’s time to make a recap of Metavaults developments.
This month was marked by external partnerships and significant announcements that will pave the way for strategic expansions in the coming months.
Here’s a detailed recap of our exciting journey during this month.
What happened in February?
We previously indicated that 2024 would be a pivotal year for Metavault. After a year of developing new solutions and features, we are now ready to shine a light on these new developments, which we have been working on continuously since the start of the year.
This month, we unveiled what’s probably the most important development since the DeFi hub launch the announcement of the Chapter 3 and the Backend As A Service model.
By collaborating with multiple leading protocols and providing their backend, Metavault is now ready to white label the product and launch its own native DeFi hubs on specific partnered chains.
The first two chains will be Linea and Kakarot. Our close collaborations will ensure a central place in their ecosystems, while also benefiting from co-marketing opportunities, grants and liquidity incentives.
Soon more details will be shared about those projects and how to take part (hint: MVX holders will enjoy some advantages 🤫)
This development shows how Metavault evolved over the past years and continued building through hard times. Everything is now coming into place and we can’t wait to share more about our Chapter 3 and how it will change Metavault.
As a mark of our collaboration with leading projects, Metavault received an airdrop from PYTH for using the price feeds on the perp V1 and V2. This airdrop will help us to continue working towards decentralization, rapidity, and reliability together.
With the Chapter 3 being at the center of our transformation, we find it important to reiterate the current status of MVX tokenomics and the forthcoming changes, notably due to the multi chain expansion and deployment.
MVX is receiving more revenue sources than ever and it does not yet take into account the Back end as a service projects that will redistribute revenue to MVX as a royalty.
To ensure a smooth transition to the Chapter 3, we started discussing about a new model and development where users will benefit the most from MVX.
Check the latest thread we made on the situation and express your feedback, we are looking forward the opinion of our community!
Mentioning MVX now live on multiple chains, Axelar launched its Interchain Token Service ensuring safe cross chain deployments, facilitated by Squid router. The MVX token is now available for trading on Scroll and Linea, in addition to Polygon PoS and zkSync Era!
To conclude on the MVX token, we continued our efforts to make MVX a deflationary token through our treasury burn and the buyback and burn campaign.
Since inception in August 2023, we burned 932,164 $MVX tokens and 192,587 $esMVX tokens, representing 23,3% of the supply.
Based on the previous mentioned proposals, the buyback and burn program should accelerate over the next weeks and months. Get ready MetaTraders.
Planning the next months:
In the coming months, our main focus will be developing the DeFi hub and Chapter 3, particularly the upcoming launches on Kakarot and Linea!
Our current Perp V2 will soon go multi chains, more details coming over the next weeks!
We would like to thank our community and supporters for their presence during these challenging periods, we can’t wait to share our next steps, stay tuned MetaTraders ♏
