In response to critical infrastructure like price feeds on Fantom ending support (with the case of FTM-USD, the most important asset in MLP) with nothing new coming to the chain, Morphex should start to wind down platform operations on Fantom. Currently, Sonic does not have the required infrastructure for Morphex to launch. There is no clear timeframe for when such infrastructure will be live, so we’d be entering a waiting period until the necessary infrastructure is live on Sonic to decide what Morphex will do next.

Proposed changes:

• Enforce close-only mode for margin trading on all assets in MLP and set MLP to withdraw-only mode.
• Allow conversion of esMPX to MPX at a 0.5 ratio (1 esMPX = 0.5 MPX).
• End all incentives to MLP and MPX/esMPX staking.
• Treasury liquidity is currently held as MPX and USDC from the MPX/wMLP position. Voters can decide if treasury should continue holding as is, or deposit into MPX/USDC on SpookySwap/BeethovenX at the current market price as of this post ($0.035).

If passed, protocol infrastructure such as backend/keepers and the interface will continue to operate as normal to facilitate the wind-down process, only being turned off once all users have closed their positions and/or withdrawn their assets from the platform.

Voting options:

• Option 1: Wind down operations on Fantom while treasury continues to hold MPX and USDC separately until the next governance vote to decide direction;
• Option 2: Wind down operations on Fantom while treasury deposits into MPX/USDC on SpookySwap/BeethovenX at the current market price as of this post ($0.035);