Functionality

Functionality

The initial token will be launched as an ERC-20 on the Ethereum blockchain. We chose Ethereum due to this network holding the most capital of any smart-contract enabled chain while also having verifiable & proven history of security for user assets.

It exists with a fixed supply of 1,000,000,000 MRTR & all the other base features included with an ERC-20 token i.e. can be transferred between accounts freely.

There are plans to expand & brige to other secure networks in the near future.

Staking

Users will deposit MRTR tokens into the staking contract, which operates as an ERC-4626 vault.

Vault Mechanism

Upon deposit, users receive Staked Mortar (xMRTR), which represent their proportional share of the MRTR assets within the vault. These xMRTR tokens will track the user's entitlement to governance, yield distribution and future Quarry rewards.

When users withdraw their staked tokens, they redeem their xMRTR tokens to withdraw the corresponding amount of MRTR, adjusting both the total staked supply and their balance.

There is no explicit fixed supply of xMRTR; it is created when MRTR is vaulted & burnt when MRTR is withdrawn.

Burn Mechanism

There is a burn functionality built into the contract. This is to allow permanent removal of MRTR from the circulating supply. A user is not encouraged to call this function, however the treasury will use this to remove unallocated MRTR from specific pools or to streamline ecosystem fees within the DApp ecosystem.