This proposal contains information regarding the dissolution of Mugen and the redemption of Mugen tokens for the underlying treasury.
The key points are as follows.
Currently, Mugen's treasury contains approximately 3.5 million Glp and 75,000 USDC.
- All assets will be moved into a new contract and converted to USDC. Upon which the team will receive 7.5% of the treasury assets + the esGMX currently held in the GMX strategy contract.
- The remaining treasury will be available to everyone for redemption pro rata for 90 days.
- After the 90 days have finished the remaining USDC will be airdropped to those who were active and redeemed at pro rata.