This governance proposal establishes the method for distributing treasury assets to MPX/esMPX token holders.

Background: Fantom, the chain of operation for Morphex is shutting down, as well as all required infrastructure to maintain protocol operations. Thus, Morphex on Fantom must also shut down. After careful consideration and review, Morphex/MPX will not migrate to Sonic and will shut down permanently. Morphex operated on Fantom for 2+ years. At times, it was the leading onchain perpetual trading platform having done over $1B+ volume.

Currently, Morphex treasury has ~$84,067 axlUSDC which will be distributed. There are approximately 22,500,000 MPX eligible for distribution (this includes esMPX at a 0.5 ratio to MPX) giving an approximate value of $0.0037 per MPX. Exact figures will be posted during a review period described below after Snapshot data has been compiled.

Treasury and Team wallets are not eligible for distribution with addresses excluded from distribution data. Distribution for both options will use a Snapshot of wallet addresses holding MPX and esMPX. esMPX held will count as 0.5 MPX.

Before distribution, eligible addresses and the correlating axlUSDC value will be posted for 7 days for a review period, to ensure accuracy. Holders are encouraged to review the data during this period and inform the Team of any errors.

Voting options:

• Option 1: Distribute MPX Treasury axlUSDC to token holders via AIRDROP.
• Option 2: Distribute MPX Treasury axlUSDC to token holders via BURN+CLAIM. If this option is chosen, Treasury would renounce ownership and funds would remain claimable until Fantom ends support as a chain.