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Mycelium Perpetual Swaps
Mycelium Perpetual Swaps is a decentralised derivative exchange, which allows users to open leveraged long and/or short positions on crypto-assets. All traders trade against the Mycelium Liquidity Pool (MLP). The MLP is a basket of blue-chip assets and stablecoins pooled together, which acts as a global AMM for leveraged trading. Liquidity providers can deposit any whitelisted asset into the MLP pool in return for MLP tokens, which represent the LPs share in the diversified liquidity pool.
On Mycelium:
Traders can trade on a series of crypto-assets from their Metamask wallet. See Information for Traders for more.
MLP Stakers earn rewards through a combination of ETH Rewards (fees generated from swaps and leveraged trading converted to ETH), Market Making (a small spread on the long tail assets including LINK, UNI, & others) which accrues to MLP holders through the appreciation of the MLP token), and esMYC (These are rewards in the form of a token which has the right to vest over 6 months into $MYC when staked in the esMYC vesting vault).
MLP holders earn 70% of fees generated on the platform. MLP returns target a yield of 25% APR through a combination of esMYC distributions and ETH earned by fees. Empirical analysis of the platform demonstrates MLP holders have earned between ~20-45% APR. See Information for LPs for more.
Last modified 4mo ago