Background: The development of Multi-Chain Lend (MCL) is fully backed by the Multiplier project team and has not conducted any token sale as of the time of writing. "bMXX' is the governance token of Multi-Chain Lend (MCL). The minting and burning of bMXX tokens are secured by team and community 4/7 Multi-Sig.
Token Overview and Uses Cases Users are able to stake their bMXX in the governance pool to achieve the following:
Voting Rights: Govern Multi-Chain Lend (MCL) protocol and reserves.
Revenue Share: Earn 20% of protocol revenues
Staking Incentives: 400 bMXX daily to be shared by stakers
Token Migration (From MXX)
Ecosystem Reserves: 5,032,000 (38.71%) tokens will be set aside as reserves. These remain unminted until the community votes and approves its usage for the benefit of the protocol. Staking Incentives: 438,000 (3.37%) tokens or 400 bMXX daily will be released from the governance pool over 3 years. Token Migration: 4,130,000 (31.77%) will be migrated from Ethereum to BSC by Dec 2021. Foundation: 3,040,000 (26.15%) will be released over 11 quarters from March 2021 to Sep 2023 (309,091 per quarter). *Foundation allocation was reduced from 30% and migrated from MXX to bMXX (MXX Whitepaper)