Introducing Mycelium: Perpetual Swaps launching August 2022

Introducing Mycelium

A historical day

Today, we announce another milestone in our history that we’ve decided upon, together. Our DAO has agreed upon a pivotal proposal to transition from TracerDAO into Mycelium, and we’re incredibly excited to share our first product launch coming this month: Mycelium Perpetual Swaps.

Introducing Mycelium

On 10 August 2022, Tracer DAO accepted a proposal from Mycelium to embark on the evolution of TracerDAO and transition to Mycelium.

Mycelium’s core mission is to make financial markets more accessible, transparent, and efficient for everyday users via decentralised technology. Mycelium is a longstanding contributor to the DeFi ecosystem, beginning its story by establishing one of the first verified Chainlink Oracle Nodes in 2019. The Mycelium Node’s capabilities will be a key partner in delivering fast, reliable, and secure price-feed data to Mycelium’s traders. Additionally, the Mycelium Node will provide bespoke data-feeds to create new markets exclusive to the Mycelium platform.

The evolution represents the culmination of Mycelium’s expertise into a singular best-in-market product that allows traders to trade with liquidity, leverage, and low fees.

Transition period

It will take the team approximately one week to undergo a full rebrand of product, communications and platform collateral.

MYC token

Introducing Perpetual Swaps

Our traders can take a long or short position with zero price impact.

In addition, our Liquidity Providers will earn a targeted 25% yield on their invested capital, while also maintaining long exposure to their assets!

Mycelium Perpetual Swaps is inspired by GMX’s Perpetual Exchange, whilst iterating on their code-base with the introduction of more markets, and lower fees for our traders.

We’re proud to announce that Mycelium Perpetual Swaps will be the home of the largest range of markets to trade Swaps on Arbitrum.

Mycelium Perpetual Swaps will exist harmoniously alongside Perpetual Pools, where both products can be used interchangeably, individually, or in combination to optimise your trading experience.

Do you want to trade with:

Liquidity: There will be deep launch liquidity courtesy of our core partners

Leverage: Trade up to 30x leverage on BTC, ETH, LINK, UNI, BAL, CRV, & FXS!

Low fees: 0.03% entry and exit fees! [with zero price impact!]

Trade with Mycelium.

We can’t wait for you to Trade with Mycelium. Join the waitlist, be early.

To join the waitlist, visit the Mycelium website here.

NOTE: Since the launch of Mycelium Perpetual Swaps on Arbitrum, we have changed our fees to be cheaper and more transparent, a full overview is here.

Trade with Mycelium

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Building infrastructure since 2019. Chainlink Nodes, Arbitrum Validator, Ethereum & Arbitrum smart contracts. 🍄

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Mycelium

Building infrastructure since 2019. Chainlink Nodes, Arbitrum Validator, Ethereum & Arbitrum smart contracts. 🍄