MEVerse’s Token Economy & Deflation System
Hello, this is MEVerse, a blockchain mainnet platform.
Through this article, we would like to explain MEVerse’s token economy, inflation, and deflation system in the MEVerse mainnet.
The Ethereum and other mainnets, most people are well known, continue to generate the tokens without max supply. If the project is unable to solve the inflation issues of continuing to generate tokens and cannot handle the token circulation supply with the burn model, it will damage the project extremely, such as decreasing the project value or reliability.
MEVerse’s total token supply is 2 billion MEV without any additional max supply. The original of our token inflation plan was to supply additional tokens up to 380 Million MEV tokens from the 2 billion MEV; however, we adjusted to 160 Million MEV tokens in May 2020, which is 42 % reduced from the original amount. Moreover, these 160 Million MEV of mining rewards will come from the Reserve Allocation. Therefore, MEVerse’s total and max supply stay at 2 billion MEV.
MEVerse’s mainnet has been running smoothly since the genesis block was created in 2019, and over 300 million MEV is locked up on its mainnet to operate the Formulator, MEVerse’s mining node.
The token inflation of the block generation reward is maintained for up to 5 years. At the end of each mining ends, team MEVerse burned the additional inflation and transferred it from the reserve allocation accordingly, as disclosed distribution plan.
Each year of burned disclosure can be viewed on Xangle, a disclosure platform for the crypto market.
First-year token burn
Second-year token burn
Thrid-year token burn
Fifth-year (Will be processed)
On July 22nd, MEVerse’s mining system started, and currently, it is in its fourth year. The last mining system will be started at the end of July 2024, and the exact ending date may change depending on generating block in the MEVerse mainnet.
Just to reiterate, MEVerse is a blockchain mainnet platform with no additional inflation and aims for deflation of the token economy.
To implement the deflation within the MEVerse mainnet, team MEVerse applied the burn and liquidity models on 29th July 2022.
Burn and Liquidity models are as follows
- MEVerse Bridge Fee
- MEVerse DEX Swap Fee (MEV-MEFI)
- NFT Exchange Fee
- Mainnet Transaction Fee (Applies later)
MEVerse’s burn and liquidity models are designed to gradually increase the burned MEV token amounts as our blockchain services, including MEVerse Bridge, DEX, NFT Marketplace, etc., are more activated. Furthermore, the burned MEV token amount is expected to be increased as the number of MApps(MEVerse-based DApp) is enlarged. A total of 352,526 MEVs have been burned on MEVerse mainnet at this moment.
According to MEVerse 2023 roadmap, the various MApp will be onboarded on our mainnet, and the official launch of Ethereum Virtual Machine in January will also significantly improve accessibility from the EVM-based chains to MEVerse mainnet.