๐Ÿ”ขTESTNET MGX Tokenomics

MGX is a testnet token that serves for testing of core features of gas-free swaps and MEV prevention. The main token of Mangata is MGA, which will be released in the future.

Tokenomics Summary

Ticker, Initial Supply, Hard Cap

The ticker of the native token of Mangata X is $MGX. At TGE, it had a total supply of 1bn MGX. Rewards are issued up to a capped supply of 4bn MGX, which will be reached at the earliest in 5 years. 80% of the final supply of tokens is reserved for the community.

MGX Utilities

  • use in Proof-of-Liquidity staking to secure the network: as this activity is also incentivized, there will be strong demand to provide liquidity for collator nodes.

  • liquidity base layer: as a lot of liquidity concentrates around MGX, this will offer a lot of short trading routes through MGX, establishing a base layer of liquidity.

  • algorithmic buy & burn: to continuously offer validation rewards to secure the network against front-runners, we take a small part of the exchange commission to buy & burn MGX.

  • Governance: managing the diversified treasury and DEX-owned liquidity, as well as liquidity mining incentives and validation rewards, will be a political task that creates demand for liquid MGX.

Exchange Commission & Fees

The Exchange Commission on trades is 0.3%, of which

  • 0.2% go to liquidity providers,

  • 0.05% to the Treasury

  • 0.05% are used for algorithmic buy & burn.

Token Distribution

80% of all tokens are allocated for the Community, with the main portions allocated for securing the network and providing liquidity. The rest of the community portion is awarded for supporting the network via crowdloans and other activities.

Emission Schedule

The token emission schedule will reach the capped supply earliest after 5 years. Algorithmic Buy & Burn can push this date back into the future.

Below you can find a projection of the circulating supply until the hard cap is reached:

This chart shows the projected circulating supply:

This chart shows the projected distribution schedule:

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