What Is Multiplier?
Multiplier decentralized Finance (DeFi) is the merger of traditional banking services with decentralized technologies. Essentially, it involves a brand-new monetary system being built on public blockchains. Decentralization means that there is not a single point of failure, as identical records are kept across thousands of computers through a peer-to-peer network. Decentralized finance leverages on several key principles of the Ethereum blockchain With skyrocketing Ethereum fees and the exorbitant costs of interacting with DeFi smart contracts, the MXX protocol was designed to mitigate these gas fees through utilising ultra-efficient coding and optimisation architecture.
Multiplier introduces Simplified Stable Bonds (SSB) contracts, that offer the full benefits of bonds in a simplified version. Users with Ethereum/ERC-20 digital assets can supply their tokens to the Multiplier protocol through SSB contracts as a source of stable returns, without having to manage their assets, fulfill loan requests or take speculative risks.
Multiplier Storage Key Points
|Circulating Supply||141,475,400.79 MXX|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Simplified Stable Bonds (SSB) Contract
Multiplier SSB Contracts mint MXX tokens, offering users a stable yield for their underlying assets. Multiplier allows users to create their own SSB contracts where they can determine the tenure and interest rate that they want to earn on their underlying asset. Each SSB contract can have only one underlying asset. However, a user can create multiple contracts for different assets. There are no restrictions as to the number of contracts a user can create, subjected to the availability of the remaining MXX tokens that can be minted.
Staking consists of depositing your bMXX tokens within the protocol Governance Module. Staking gives voting rights and Governance Incentives are released in bMXX to encourage active participation in protocol matters.
The Multiplier token represents ownership of the Multiplier ecosystem and is aggregated algorithmically according to liquidity contributed to the Multiplier platform, an application that facilitates the collateralisation where users can determine the tenure and interest rate on their underlying asset. The MXX protocol is audited, decentralised, open-sourced and publicly available. This provides support of public oversight and scrutiny of the entire ecosystem. MXX tokens are not pre-mined, and only minted through transactions that contribute to liquidity on the platform or a deposit that mints MXX tokens as a reward based on their underlying asset. Potential MXX holders are incentivised to mint MXX through transactions, and will have voting rights towards the governance of the network.
SSB contracts that are early redeemed by previous users will be put up for listing in the Open Market. Users can choose to acquire these SSB contracts by putting up equivalent assets into the contract and continue to mint the remaining MXX in the contract till maturity. SSB contracts in the Open Market are on a first-come, first-served basis.
Multiplier tokens will carry voting rights for the governance of the network and will allow the protocol to gradually transit towards being entirely governed by the community.
MXX holders are directly affected by protocol changes in the blockchain, and the governance token will give the community a voice as they can use their voting rights to make decisions on protocol developments. They will be able to present proposals to improve programs and other MXX holders with voting rights may choose to support them.
The number of votes is proportional to their amount of MXX tokens. The move towards a decentralised governance process will protect investor interests, reduce systemic risk and increase long term utility of the protocol. They believe in (what we call) the Multiplier Effect, that decisions made by a large collective is better than decisions made by a single entity.
This Multiplier whitepaper must not be taken or transmitted to any jurisdiction where distribution or dissemination of this whitepaper is prohibited or restricted. The views and opinions expressed in this whitepaper are those of Multiplier’s and do not reflect the official policy or position of any government, quasi-government, authority or public body (including but not limited to any regulatory body of any jurisdiction) in any jurisdiction.
This whitepaper and related materials are issued in English. Any translation is for reference purposes only and is not certified by any person. No assurance can be made as to the accuracy and completeness of any translations. If there is any inconsistency between a translation and the English version of this whitepaper, the English version prevails.