Metavault.Trade Review -Decentralized Perpetual Trading

We all have heard a common proverb in crypto, i.e., Not your Keys, Not your Crypto. Users have suffered a lot in the recent FTX Drama.

Also, recently, Crypto.com accidentally transferred 320K ETH of user deposits to Gate.io on 21st October. But, Crypto.com has repeatedly stated that 100% of user-owned crypto is held offline in cold storage in collaboration with hardware wallet provider Ledger. So, people are starting to lose their trust in centralized exchanges.

So, we all know that the future of Web3 lies in DEXes and DeFi. A recent report from the Nansen Team showed that GMX Token of GMX.io, i.e., Decentralized Perpetual Exchange, is performing well despite the bear market.

In this article, we will understand how perpetual protocols like Metavault.Trade, i.e., a friendly fork of GMX.io can provide reassurance to the crypto community during this dramatic incident with CEXes and a bear market.

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Table of Contents

• Summary
• Introduction
• Features
• Trading
• Rewards
• Tokenomics
• Roadmap
• Security
• Conclusion
• Frequently Asked Questions (FAQs)

Metavault.Trade: Summary

1. cMetavault is built by the team behind Metavault DAO.
2. Metavault is a friendly fork of GMX.io.
3. Metavault has integrated Chainlink Price Feeds and Chainlink Keepers to help secure and automated Perpetual trades.
4. Metavault has integrated Socket infrastructure for a seamless bridging.
5. MVX is Metavault ‘s governance and utility token.
6. The maximum supply of MVX is 10,000,000.
7. MVLP is the Metavault liquidity provider token.
8. MVLP holders earn rewards in the form of MATIC and esMVX tokens.
9. Metavault.Trade has been audited by Techrate.

Metavault.Trade: Introduction

Metavault.Trade is a DEX for swap and perpetual trading with up to 30x leverage on Polygon. It aims to become the go-to solution for traders who want to control their funds at all times without sharing their data. Traders can use it in two ways:

• Spot trading with swaps and limit orders.
• Perpetual Futures trading with up to 30x leverage on short and long positions.

Metavault.Trade is built by the team behind Metavault DAO, i.e., a blockchain-based, community-governed investment platform and decentralized venture capital fund. It allows anyone to participate in the latest and most profitable DeFi projects and strategies and deploys an in-house development team for project incubation.

Metavault.Trade ‘s code is a friendly fork of GMX.io. After carefully studying GMX’s tokenomics, the Metavault DAO team chose to redesign it from scratch for Metavault.Trade. The main differences are:

• Metavault.Trade allocates a larger proportion of the tokens to reward farming, as a result, the incentivization program is far more substantial.
• MVX token was launched with no private or seed rounds.

Metavault.Trade: Features

In this section, we will look at some premium features of Metavault.Trade.

• Built on Polygon: Transactions are fast and cheap.
  Chainlink also provides a large number of price feeds on Polygon.
• Multi-Asset Pool: It allows the platform to have shared liquidity across all the assets it supports. Let’s say, the pool is made up of five assets, i.e., BTC, ETH, MATIC, USDC, and DAI which are in equal proportions in terms of dollar value, i.e., 20% of each. A trader can buy 50% of the BTC supply with USDC instantly at the exact price shown on the platform without any price impact. After the order, BTC is 10%, USDC is 30% and the rest remains unchanged. The price of BTC on the platform is the same before and after the swap, even though half the available supply has been bought up. To rebalance the pool, liquidity providers are incentivized to deposit in-demand assets and disincentivized to deposit those of which there is an excess.

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• Metavault.Trade x Chainlink: Metavault has integrated Chainlink Price Feeds and Chainlink Keepers to help secure and automated Perpetual trades.

• Metavault.Trade x MM Finance: Metavault has recently announced its cooperation with MM Finance. As a result, Metavault’s rebalancing bots can now use the Madmex and MMF pools. MM Finance will rebate a small portion of the fees generated by the MVX rebalancing bots back to Metavault. MM Finance team will use generated fees to add back into the MLP pool, increasing the value of MLP overtime. Also, a massive 65% of these protocol fees will be used to buy back MMF to support the price of their native token. On the other side, Metavault will invest the obtained rebates to increase its PoL, i.e., Protocol-owned Liquidity, which subsequently boosts the flywheel-effect idea and increases stand-alone capacities.

• Metavault.Trade x Socket: Metavault has integrated Socket infrastructure for a seamless bridging. Socket is an interoperability protocol for secure & efficient data and asset transfers across chains. It is not a bridge or a cross-chain app but an infrastructure that allows developers to build apps with interoperability as a core part of app infrastructure.

Metavault.Trade: Trading

Metavault.Trade provides a platform with no KYC or 2FA, so users can start trading easily without hassle or registration. Users need a crypto wallet to start trading on Metavault.

• Step 1: Go to MetaVault Official Website. Click on the Launch App button in the upper right corner. Users will be redirected to Trade Dashboard.

• Step 2: Click on Connect Wallet on the upper right corner.

• Step 3: We will see four wallet options, i.e., MetaMask, Wallet Connect, Coinbase Wallet, and Exodus Wallet. Also, as we know that MetaVault is built on Polygon. We will have to change our default MetaMask Network from Ethereum Mainnet to Polygon Mainnet.

• Step 4: Now, everything is done. Users can start trading now!

Metavault.Trade: Tokenomics

MVX is the Metavault.Trade ‘s governance and utility token. The maximum supply of MVX is 10,000,000. Minting beyond this maximum supply is controlled by a 28-day timelock, which will only be considered if there is a need to increase the supply. Here is a quick overview of token distribution:

MVLP is the Metavault.Trade ‘s liquidity provider token. It consists of an index of the assets used on the platform for swaps and leverage trading. Users can mint MVLP by adding any index asset to the liquidity pool while MVLP is burned each time a user removes any index asset from the liquidity pool. MVLP holders earn rewards in the form of MATIC and esMVX tokens.

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Metavault.Trade: Rewards

MVX holders are strongly incentivized to stake their tokens as result they are rewarded with three different types of rewards.

1. Share of the Platform Fees: MVX stakers get 30% of the fees collected across the platform in the form of MATIC.

2. esMVX: MVX stakers are rewarded with a new token, i.e., escrowed MVX. It is non-transferable and there are only two ways to use it:
(i) esMVX can be vested to be converted and distributed as MVX.
(ii) esMVX can be staked and will earn the same rewards as staked MVX.

3. Multiplier Points (MPs): MVX stakers are rewarded in the form of points. MPs are awarded at 100% APR. Each MP can be staked to earn the same amount of MATIC as an MVX token.

Here is a quick summary of the reward structure:

1. Staked MVX earns MATIC, esMVX, and MPs.
2. Staked esMVX earns MATIC, esMVX, and MPs.
3. MPs earn MATIC when staked
4. MVLP earns MATIC and esMVX held in the wallet.

Metavault.Trade: Roadmap

Here is a quick overview of Metavault.Trade ‘s Roadmap:

• Q4 2022:

1. Extension of Perpetual Features (Synthetics & Forex).
2. Options Trading Implementation into Metavault.Trade.
3. A new dApp to improve and support major developments.
4. Joint Venture Development of a Blockchain Infrastructure Project.
5. Joint Venture Development for Cross-Chain Leverage Trading.

• Q1 2023:

1. Metavault.Trade Multi-Chain Ecosystem Expansion.

Metavault.Trade: Security

Metavault.Trade has been audited by Techrate. There is no active bug bounty for the smart contracts. Users who find bugs or exploits will be extensively reimbursed. White Hat Hackers can contact admin@metavault.trade for more information.

Also as we know, Metavault.Trade ‘s source code is a fork of GMX.io, whose contracts have been audited by ABDK Consulting.

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Metavault.Trade: Conclusion

If we talk about the last week’s reward distribution of the Traders on Metavault.Trade, then $MVX rewards are at 84.58% APR and $MVLP rewards are at 173.65% APR. Traders on Metavault.Trade are earning profits, despite the whole FTX Drama, the Collapse of Centralized Exchanges, and the Bear market. Metavault.Trade team is fully committed to the project with new exchange listings, platform upgrades, AMAs, the launch of the new referral competition, etc. and much more. All credits of images and information used here belong to Metavault.Trade.