The launch of the main Polars network is close, which means that the Big Trading Competition with a prize pool of about $ 300k + NFT will start very soon. We are thrilled to announce Polars’ partnership with Mettalex.
About Mettalex — mettalex.com
Mettalex is a decentralized exchange focused on commodity derivatives. The projects aim to bring the $20 trillion commodities market to DeFi. It is accessible 24/7 with tight trading spreads, low margin requirements and unique hedge instruments that ensure you don’t get liquidated prior to settlement dates.
What makes Mettalex different?
- Unique DeFi Markets — The Mettalex commodity derivatives exchange features markets unavailable anywhere in the DeFi space, including Natural Gas, Lithium Carbonate, Aluminium, Zinc, Copper, Steel, Iron Ore, and spreads like BTC/Gold. Long or short positions are available on all markets.
- Perpetual Liquidity Mining — 87.5% of all MTLX tokens will be distributed to liquidity providers (LPs) that supply liquidity to Mettalex’s Autonomous Market Makers. That turns Mettalex markets into “perpetual yield farms”. In addition, LPs are also rewarded with trading fees.
- No Liquidations — Mettalex DEX traders know exactly how much they could earn or lose by entering into a long/short position on the DEX. An open position on Mettalex will not take additional funds from their wallets to keep their position open, unlike other derivatives trading platforms.
- Instant Settlements — Positions on Mettalex are monitored by an autonomous agent that ensures the market has sufficient liquidity for absorbing your position in the event that you decide to exit.
- Advanced Autonomous Market Makers — Advanced mathematics ensures that all Mettalex markets are fully collateralized. Even more efficient mathematical operations will be introduced with the incorporation of Fetch.ai technology.
- Crowd-Sourced Collateral Pool — Mettalex uses position tokens instead of margin positions offered by conventional trading platforms. These position tokens in turn are backed fully by individuals looking to receive a part of the trading fees from the platform. Adding another layer of stability to the exchange.
Partnership Integration Details
During the Big Trading Competition, Polars users will make a prediction about the outcome of the contest on Twitter — which tweet will get more likes and reshares. One tweet will be posted for the White Team and the Black Team. Whichever tweet gets more likes and retweets in 2 hours will win.
Mettalex sponsors the Big Trading Competition with a $25k contribution to the prize pool (in anyMTLX tokens, Binance Smart Chain).
Conditions for Receiving MTLX Tokens as Part of Polars’ Big Trading Competition
- To receive the Airdrop and rewards within the top 100 winners, the user must comply with all the conditions and rules of the Big Trading Competition, which are described here: https://medium.com/polars-platform/polars-big -trading-competition-on-the-testnet-300k-nft-and-30-airdrop-b9baae50417d
- Users will be required to like and retweet the event post.
- The user needs to be join Mettalex’s official Telegram chat: https://t.me/mettalex_official
- The user needs to follow Mettalex’s official Twitter account: https://twitter.com/Mettalex
Rewards will be distributed after the end of the Big Trading Competition. The Mettalex team may require users to perform additional free actions to claim their MTLX rewards. MTLX tokens can be freely traded on Uniswap and PancakeSwap (available as anyMTLX tokens).
The new DeFi platform for creating secure polar tokens, the price of which depends on the results of specific external events. Within the POLARS platform, users can buy, sell and exchange polar tokens, as well as participate in the distribution of the platform’s commission income.