In the past two days, we have witnessed solid organic trading demand on the platform caused by volatility, and the protocol income from trading fees has notably increased. After the $ARB grant campaign starts, we can expect more volume & income growth; traders and LPs will be the primary beneficiaries because of the proposed grant distribution.
As a perps dex aggregator, MUX also directed notable volume to integrated protocols, including GMX and Gains. Currently, all referral rebates will be distributed to LPs and veMUX holders, just like other types of protocol income, although the routed volume doesn’t utilize MUXLP liquidity.
To incentivize veMUX holders more as the aggregator grows and ensure veMUX can benefit more from the upcoming $ARB grant campaign, MUX contributors wish to adjust the distribution of the referral rebates income.
After careful consideration, MUX contributors will direct 100% of the referral rebates the MUX aggregator earns to veMUX’s income stream. The update will be reflected on veMUX’s yield starting from the next epoch.