🌊mFTM Liquid Staking
mFTM Token Contract: 0x62227c75908b7d358a9d70ea4670f57f8b012ccc
What is mFTM?
$mFTM is a liquid token that users get when they stake FTM with MCLB Liquid Staking Protocol. The mFTM tokens represent their staked FTM on nodes that are operated my MCLB.
With innovative features and a commitment to decentralization, $mFTM sets itself apart from traditional Liquid Staking Tokens.
Unique Features
Node Operation: All FTM used to mint $mFTM is staked on nodes operated by MCLB team members, promoting decentralization and network security.
No Rebase: $mFTM does not employ a rebase mechanism, distinguishing it from other tokens. Instead, staking rewards incentivize liquidity providers (LPs) on DEX platforms, fostering a sustainable flywheel effect.
Flexible Model: The protocol is designed to adapt to changing circumstances, allowing for adjustments to optimize growth and efficiency according to evolving market conditions.
No Additional Fees: Users are not subject to extra fees for staking, resulting in higher returns compared to other Liquid Staking Token (LST) platforms. The standard 15% delegation fee applies, with 10% allocated to the node operator and 5% to the MCLB treasury. Deep Liquidity: MCLB has the capability to create extensive liquidity pools independently, ensuring ample depth for trading and arbitrage.
Redemption Mechanism: $mFTM does not include a redemption mechanism, encouraging steady growth in the quantity of tokens staked on the network. The MCLB will support the mFTM peg by controlling a significant amount of FTM and initial mFTM liquidity.
Read more on the blog post.
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