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Information for Traders
Mycelium Perpetual Swaps launched on Ethereum Layer 2, Arbitrum, in August 2022.
Traders on the platform can enjoy trading leveraged positions with for 9bps (or 0.09%) entry/exit, with no price impact on a range of assets: BTC, ETH, USD, LINK, BAL, FXS, & CRV!
We know the number one priority for our traders is trading with liquidity, which is why our Mycelium Liquidity Pool (MLP Token holders) are incentivised to earn 70% of fees generated on the platform, averaging a return of ~25-45% for LPs.
Our mechanism is optimising returns for our LPs. 70% of fees generated are rewarded to MLP holders, 25% to Mycelium Treasury, and 5% for our active traders.
Trade with liquidity: Liquid markets for BTC, ETH, UNI, LINK, BAL, FXS & CRV!
Trade with leverage: up to 30x!
Trade with low fees: 9bps entry and exit fees [without price impact!]
Trade with Mycelium.
Earn fees: We know at their core, traders are competitors always looking to demonstrate their edge: that’s why we will be distributing 5% of the platform’s generated fees back to the top 5% of traders. The distribution will act as a fee rebate to reward active traders.
More markets: Mycelium Perpetual Swaps has the largest range of perpetual swaps markets on Arbitrum! Trade on the volatility of the market with liquidity for new trading markets: BAL, FXS & CRV in addition to BTC, ETH, LINK, & UNI.
MLP is our liquidity provider token: LPs accrue 70% of the fee revenue. LPs mint MLP when they deposit MLP Pool Assets for the Traders to trade against.
MYC is our governance and utility token. 25% of trading fee proceeds go to the Mycelium Treasury. MYC holders can stake their MYC in Mycelium’s staking contracts to earn rewards. By staking MYC to earn APR rewards in ETH, stakers are entering a loan agreement with the MYC Treasury.
Entry/Exit fee: There is a very low trading fee of 0.09% of your position size (both on entry and exit), which is incurred when opening a position and closing a position.
Borrow fee: The borrow fee is the fee that is paid to the counter-party (MLP pool) of your trade at the start of every hour, over the trader’s holding period. The formula for this fee is:
30x leverage: Our traders can enter a position at up to 30x leverage. Traders will only get liquidated at 100x - this includes the both the losses and borrowing fees owed to the vault. I.e. if initial collateral - losses - borrowing fees is less than 1% * position size, then a position will be liquidated.
