What is MUX Protocol (MCB/MUX)?
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🟢 The simple version
Plain English — no jargon. Start here.
MUX Protocol is a perpetual futures aggregator routing orders across GMX, Gains Network, and other perp DEXs for best execution, with MUXLP as its own native liquidity pool and ~1M MCB (very low supply) earning 25% of all protocol fees.
Perp aggregation value
For small trades, direct protocol access is fine. For large positions, liquidity fragmentation means direct execution has worse price impact. MUX routes to whichever protocol offers best execution. MUXLP is MUX's own native pool for pairs with thin underlying liquidity. MCB stakers earn 25% of all fees from both aggregated and native trades. MUX token: trader rebate/discount token, convertible to MCB. Multi-chain: Arbitrum, BNB, Optimism, Avalanche. Is MCB legal in India? Yes. 30% tax, 1% TDS apply.
🟡 A bit more detail
For when you want to go a little deeper.
MCB scarcity
~1M MCB is one of DeFi's lowest-supply governance tokens (alongside ALCX ~2.4M, YFI ~36,666, KWENTA ~313K). At meaningful trading volume, 25% fee share on ~1M tokens creates significant per-token yield. Evaluating: total protocol volume * fee rate * 25% / 1M MCB.
🟣 The full technical picture
For the technically curious.
Key facts
- MCB: ~1M (very low supply, 25% fee share)
- MUX: Trader rebate token
- MUXLP: Native liquidity pool
- Chains: ARB, BNB, OP, Avalanche