veMULTI (One year old) Steps into 2023 Q2
Over $824K to be distributed
It’s been one year since the launch of veMULTI — MULTI staking mechanism (Stake MULTI to earn 45% bridging fee and participate in Multichain governance).
Let’s look back and check how the process went.
Around 30.14% circulating MULTI tokens have been locked as of Apr 12th, and how were the rewards distributed during the past year?
- Rewards for Q2 2022: $3,901,975.04
- Rewards for Q3 2022: $1,362,987.45
- Rewards for Q4 2022: $939,695.67
- Rewards for Q1 2023: $542,784.96
Total: $6,747,443.12
Moving forward -
Starting on April 13th, 2023, 45% of the Multichain cross-chain fees from 2023 Q1 will be distributed to all veMULTI holders across three different chains. Make sure to check the details to find out how you can benefit!
- Q1 2023 Multichain bridge fees: $2,523,752.00
- Q1 2023 Multichain bridge cost (gas fee): $692,328.00
- Q2 2023 veMULTI rewards: $824,140.80
Note:
- According to per agreed proposal, 10% of bridge fees will be set aside for Safety Fund.
- veMULTI rewards were initially distributed in USDC. Due to the debug of the $USDC in 2023 Q1, MultiDAO will propose a discussion on the rewards token, with the Multichain Community making the final decision. Rewards will still be given out in USDC until the decision has been taken, though.
More information:
veMULTI Contract on Ethereum
veMULTI Contract on Fantom
veMULTI Contract on BNB chain
please follow our Twitter https://twitter.com/MultichainOrg or
Join our TG community https://t.me/anyswap
