Price Exposure to Any Asset. No Custody. No Borders.

The MPCQ ecosystem includes a native synthetic decentralized exchange that enables trading of synthetic assets tracking the price of real-world assets, commodities, equities, and crypto assets without requiring direct ownership of the underlying asset. The synthetic DEX operates entirely on-chain, with no centralized intermediary, no custodial risk, and no geographic restrictions.

Synthetic assets on MPCQ are ERC-20 tokens that track the price of an underlying reference asset through a decentralized oracle network. The synthetic token is collateralized by MPCQ and other accepted collateral types, with a minimum collateralization ratio enforced by smart contracts.

Supported synthetic asset classes

• Crypto assets

  BTC, ETH, SOL, and major altcoins

• Commodities

  Gold, silver, oil, natural gas

• Equities

  Major indices and individual stocks (via tokenized representations)

• Forex

  Major currency pairs

• Inverse assets

  Short positions on any supported asset

Each synthetic asset is minted when a user deposits collateral exceeding the minimum collateralization ratio. The synthetic token can be traded freely on the DEX, used as collateral in lending protocols, or held as a price exposure instrument. When the user wishes to close their position, they return the synthetic token and receive their collateral back, minus any debt or fees.

Price feeds for synthetic assets are provided by a decentralized oracle network that aggregates data from multiple independent sources. Each price feed is updated at regular intervals and on significant price movements. Oracle providers stake MPCQ as collateral and are subject to slashing if they submit inaccurate data.

The oracle network implements a median-based aggregation mechanism, where the median of all submitted prices is used as the canonical price. This protects against individual oracle manipulation and ensures price accuracy even if a minority of oracles are compromised.

The synthetic DEX uses a constant product automated market maker (x*y=k) with concentrated liquidity extensions. Liquidity providers deposit pairs of assets into pools and earn trading fees proportional to their share of the pool.

Primary pools

Protocol fees are 0.3% per swap, with 0.25% distributed to liquidity providers and 0.05% to MPCQ stakers.

The synthetic DEX includes an integrated lending protocol that allows users to borrow synthetic assets against their collateral. Interest rates are determined by utilization-based curves, with kinked parameters that discourage 100% utilization. Liquidation occurs when a position falls below the minimum collateralization ratio, with a Dutch auction mechanism designed to be MEV-resistant.

Accepted collateral

Each collateral type has its own risk parameters, including collateral factor, liquidation threshold, and liquidation penalty.

The synthetic DEX includes native stablecoin issuance for MPCQ-USD and MPCQ-EUR, both pegged 1:1 to their respective fiat currencies. Stablecoins are minted when users deposit MPCQ or other accepted collateral at a minimum 150% collateralization ratio. Stability fees accrue on outstanding debt, and undercollateralized positions are liquidated through the same Dutch auction mechanism.

Both stablecoins are natively integrated into the MPCQ ecosystem, accepted for DePIN service payments, tradeable on the DEX, and redeemable through the licensed exchange and neobank.