Topic Title:
wMLT - MODE
Protocol/Project Name:
Mode
Protocol Overview:
Mode is the Layer 2 (L2) building the AIFi economy. Mode’s mission is to scale DeFi to billions of users through onchain agents and AI-powered financial applications.
Incentive Impact Statement:
The wMLT is a BMX product that is an auto-compounding index of the following blue chip assets (Current target weights, subject to change):
- ETH 11%
- weETH (Ether.fi) 25%
- wBTC 6%
- MODE 10%
- USDC 48%
MLT acts as the counterparty liquidity for perps markets on BMX Classic markets, which also accrues fees from the Classic market.
A MODE - wMLT pair will create a key liquidity route with multiple blue chips. Aggregators like 0x (Matcha) have integrated the wMLT to burn and mint directly into the MLT to increase trade route efficiency.
Contribution to the Kim Ecosystem:
KIM users should enjoy holding this LP for longer periods if they are bullish on the underlying assets. The significant weight in stablecoin provides stability as well as increases the natural APR due to price divergence. The APR of the pair as a whole should be very attractive due to the APR of wMLT and provided trading fees that accrue via the underlying trading routes / arbitrage rebalancing.
Additional Information (Optional)
Community Initiatives
We’ll work with the BMX team to communicate and educate the community on what wMLT is and why the pair is attractive for LPs who want primary exposure to MODE and attractive underlying APR.
Contact Information
deez@mode.network or reach out on TG.