Roadmap

• November 17 : WL of some SCs
• November 24: LKMEX v1 become non-transferable
• November 28 - December 5: first governance vote
• December 8: xExchange released / Ability to convert LKMEX v1 to v2
• December 9: SCs whitelisted support LKMEX v1 and v2
• No date: MEX integration on other markets

The LKMEX 2.0

The MEX supply will be limited over 8 years, that is to say that the token will be capped, there will be no more issuance. The MEX will be immediately 65% less inflationary and will follow the parameters of this table.

The Energy System

It may seem complicated at first, but it is quite the opposite. 

You own MEX, you can lock them in LKMEX 0 energy and they can be put in energy recharge over different periods of time: 1, 2 or 4 years.

The longer you locate your LKMEX to charge them with energy, the higher the multiplier: you will generate more energy.

1 MEX can be locked into 1 LKMEX: 1 LKMEX will take care of one energy/day. (1 year = 360 energies).

Benefits and utilities

Thanks to your LKMEX charged with energy, you will be able to enjoy several benefits. 

• Rewards in LKMEX for LKMEX holders
• Participate in Metabonding without needing a stake
• New third parties for the next Launchpads
• APR boosts in farming and Metastaking
• Less swap and energy withdrawal fees Participation in governance

Discharge of the LKMEX

When you will take advantage of these utilities, you will discharge your LKMEX in energy. The energy of each LKMEX will decrease by one energy point each day until it reaches 0 energy.

It will therefore take X days to unload your LKMEX and convert them into MEX to sell or transfer them.  Only when the LKMEX reaches 0 energy can it be converted into MEX and then sold/transferred.

You have the possibility to unload your LKMEX faster but you will have to pay a fee of up to 80% of the LKMEX.

Example: to fully discharge 1 LKMEX with 1 year of energy, there will be a 50% charge.

You can also partially unload your LKMEX. 

Example: to unload 1 LKMEX with 4 years of energy to 2 years of energy, there will be 33% charge. (Basically: decrease the lock period from 4 years → 2 years)

Recharging the LKMEX with energy

If you have been using LKMEX to take advantage of the utilities and now they are less charged with energy and you can no longer take advantage of the benefits, you can put your LKMEX back into recharge over 1, 2 or 4 years.

Unlocking LKMEX

Only LKMEX with 0 energy can be converted to MEX.

Transferability of LKMEX

LKMEX will not be transferable except under certain circumstances: •

• Compromised wallet
• Transfer from hot wallet to cold wallet
• Transfer in-xExchange for certain transactions
• through certain products off xExchange under governance approval
• A transfer will be possible between two wallets belonging to the same person through a special SC: the sender sends his LKMEX in a SC and the receiver will be able to recover them only 30 days later.

Indirect transfers

You can unload your LKMEX by paying the fees, convert them to MEX, send them to another wallet and then re-lock them into LKMEX to load them with energy.

Convert your LKMEX v1 to LKMEX v2

Your LKMEX v1 will be charged with energy in proportion to the average unlocking time of your tokens. This energy will not be usable and the tokens will not be rechargeable until you convert them into LKMEX v2.

You can convert your LKMEX v1 to v2 at any time: 1 LKMEX v1 with X months of energy will be converted to v2 with a lock period multiplied by 4 and 4x more energy.

Example: 1 LKMEX v1 that is unlocked in 2 months will become an unlockable LKMEX v2 in 8 months (4 x 2 months)

People converting their LKMEX v1 to LKMEX v2 within 30 days of xExchange going live will get two benefits:

• A Metabonding rewards boost of between 2 and 10x over the first 3 months. The % boost will reduce as the 3 months go by, so you are better off converting as soon as possible.
• 1 winning ticket for xLaunchpad in the form of an exchangeable NFT. But only for people who have locked their converted LKMEX v2 for 4 years.

xLaunchpad

New thirds will be implemented: EGLD in staking will still count for the number of purchasable tickets, but you will also be able to add the third corresponding to your number of energy.

Example: you are entitled to 8 tickets via your stacked EGLDs / you are entitled to 2 tickets via your energy: you will be able to buy 10 tickets by paying in EGLD or LKMEX.

Fees Pool

A fee pool will be created and will receive all fees from users interacting with xEchange, these will be claimable by LKMEX holders each week in proportion to their energies.

Each swap = 0.3% fee:

• 0.2% will go to liquidity providers for rewards
• 0.1% will go to the LKMEX holder: 50% sent to the fee pool / 50% burn

And every time a user accelerates the unloading of his LKMEX :

• 50% to the fee pool
• 50% burn

LKMEX staking rewards (MEX/LKMEX farm)

No need to farm in the MEX/LKMEX pool to receive rewards, you just need to hold your LKMEX. The rewards will be in LKMEX loaded by 4 years of energy.

Governance

The accumulated energy based on your LKMEX will be "converted" into "governance power". This is what will allow you to vote in the governance of DEX.

Deflationary mechanisms

To limit the inflation of the MEX there will be burn systems:

• 50% of the energy withdrawal fees in LKMEX will be burned
• 50% of the swap fees to LKMEX holders will be burned
• 100% of the 1% farming pool withdrawal fee will be burned

Lotteries for great causes

The team will propose no-loss lotteries for great causes.

50% of the liquidity from the purchase of the tickets will go to the NGO in question and the remaining 50% will go into the reward pool. 50% of this pool will be redistributed to the lottery winners.

100,000,000 MEX will be injected into each lottery for the winners (subject to governance validation). 

• => Your energies can add between 5 and 50% more chance to win.

Lending Pools

You can have a reward boost on lending pools based on your number of energies.

Price Discovery

New! When a project creates a liquidity pool for its token, it will be able to use the Price Discovery already in place on xLaunchpad. The project does not have to pass the launchpad.

Bridge Expansion

• xBridges will support : BNB Chain, ETH, BTC, BUSD, USDT, BNB...
• And will also implement pairs: BTC/USDC, USDC/BUSD, USDT/BUSD, ETH/USDC, BNB/USDC, BTC/EGLD ...

Strategic fund

A strategic fund will be created for several uses:

• to finance events
• rewarding contributions : testing, feedback...
• security bounties ...

Limit orders and range orders

xExchange will have a limit/range orders system, this is something I was personally waiting for. No more need to go through a CEX to do it.

Concentrated Liquidity

Based on the same model as Uniswap v3. More explanation here: https://coinmarketcap.com/alexandria/glossary/concentrated-liquidity

Whitelisting of projects

Since LKMEX v2 will not be transferable, some projects offering rewards in LKMEX are in trouble. But the projects will be able to be whitelisted in order to be assigned a "transferRole" for wrappedLKMEX.

These projects will have to wrap LKMEX, which will temporarily lose their energy. These wrappedLKMEX will be used in SCs for users to claim them. These users will then be able to unwrap them and convert them into LKMEX v2.

DEX Leagues

A ranking system will be in place and you will be placed according to the number of energies you hold.

Useful links:

• Article: https://en.xwiki.co/article/maiar-dex-transforms-into-xexchange
• Documentation: https://cloud.beosmo.com/index.php/s/GOynJHpOmED7KcJ

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