🌺Magic LUM Token
Last updated
Last updated
Magic LUM ($MLUM) is the governance token of the MagicSea DEX. It offers owners the opportunity to participate in the success of MagicSea.
Unlike the LUM token, Magic LUM is distributed exclusively via the Booster contract. In the Booster, your LUM will get refined to Magic LUM. During this refining process, the LUM tokens in the Booster are burned in percentage over time, while Magic LUM tokens are distributed in the same turn. Hereby LUM is upgraded to Magic LUM.
Magic Lum Token is the limited governance token of MagicSea.
Magic LUM has a maximum supply of 1 million tokens and can only be earned through the refinement booster.
Tokens are distributed over a minimum 5-year time frame. The minting rate for the Magic Lum Booster will be adjusted each epoch to ensure the maximum amount of 1 million tokens. In each epoch the minting rate is defined in the Booster Smart Contract when it is created. 205.000 Magic LUM Token have been minted at the beginning for initial liquidity and team allocation. All of these tokens will be locked in the liquidity pool or MLUM staking pool smart contracts.
| Timeframe | Epoch Duration | Minting MLUM per Month | Cumulativ # Magic LUM Minted |
|---|---|---|---|
First Month | 1 Month | 30.000 | 235.000 |
Epoch 1 ShimmerEVM | 4 Months | 13.200 | 287.800 |
Epoch 1 IotaEVM | 3 Months | 1.000 | 290.800 |
Magic LUM is the governance token of the MagicSea DEX. Magic LUM combines several features that make it more resilient and powerful than LUM:
The Magic LUM token provides access to all protocol earnings via a special staking pool.
Magic LUM is limited to a total quantity of 1 million tokens.
With Magic LUM, one participates in DEX's business model and receives special rewards via special staking pools.
Magic LUM gives voting opportunities in the MagicSea DAO.
Magic LUM fulfills important characteristics of a robust token. Magic LUM is limited in total amount, generates cash flow through rewards, is diversified through the treasury and gives the holder voting opportunities over the DEX.
Magic LUM is therefore suitable for everyone who wants to shape MagicSea in the long term and participate in its success!
