Token Overview
The MLL token has not yet been deployed. The token contract is finalised and audited. Deployment on MetaLedger Chain (native), with bridged representations on Ethereum and Polygon, is scheduled before the end of 2026. This document reflects the current token specification and is published in advance of the public launch.
MLL will be the native token of the MetaLedger protocol ecosystem. It serves three primary functions: utility (fee payment, staking, and ecosystem participation), governance (protocol parameter voting and grant allocation), and value accrual (fee capture from protocol revenue). MLL is not a game token — it is infrastructure-layer currency that game studios and players will interact with indirectly once the token goes live.
Token Utility
Protocol Fee Payment
Studios holding a minimum MLL stake receive a 40% discount on MetaLedger Chain transaction fees and Marketplace API settlement fees. At scale, this discount represents significant operational savings for high-volume studios. Fee payment in MLL routes through a burn-and-mint mechanism that creates deflationary pressure proportional to protocol usage.
Sequencer Staking
MetaLedger Chain's 12 sequencer nodes each require a minimum stake of 500,000 MLL. Sequencer stakes are slashable for liveness failures and for confirmed malicious behaviour. Stakers earn 60% of sequencer fees distributed proportionally to stake weight.
Ecosystem Grants
5% of total MLL supply is allocated to the Studio Ecosystem Fund, disbursed quarterly by governance vote. Grants fund studio integrations, hackathons, developer tooling, and community initiatives.
Tokenomics
- Total Supply: 1,000,000,000 MLL (fixed, no further minting)
- Token Standard: ERC-20 on MetaLedger Chain (native); bridged ERC-20 on Ethereum and Polygon
- Inflation: Zero post-launch. Protocol rewards are funded from fee revenue, not new issuance
- Burn Mechanism: 20% of all protocol fees denominated in MLL are burned permanently
Distribution Schedule
- Team & Advisors — 18%: 12-month cliff, 36-month linear vest from launch
- Investors — 22%: 6-month cliff, 24-month linear vest
- Ecosystem & Grants — 20%: Controlled by governance, no lockup on disbursement
- Public Launch — 15%: No lockup; sold via fair launch mechanism
- Protocol Treasury — 15%: Multi-sig controlled, released by governance vote
- Staking Rewards — 10%: Distributed over 5 years to sequencer and protocol stakers
Staking
MLL staking is available through two mechanisms:
Protocol Staking
Any MLL holder can stake a minimum of 1,000 MLL into the protocol staking contract to earn a share of protocol fee revenue. Current APR fluctuates between 8–15% depending on protocol activity, with higher yields during peak gaming seasons. Unstaking has a 14-day unbonding period.
Studio Sponsorship Staking
Studios can stake MLL on behalf of their player base to subsidise gas fees. Studios earn a 0.05% rebate on all transactions sponsored through their staked position. This creates a natural incentive for studios to hold MLL proportional to their player activity.
Governance
MLL holders vote on protocol parameter changes, bridge additions, fee structure updates, and ecosystem grant allocations. Voting power is proportional to staked MLL balance (1 staked MLL = 1 vote). Key governance parameters:
- Minimum proposal threshold: 100,000 MLL staked
- Quorum requirement: 5% of circulating supply
- Voting period: 5 days
- Timelock on execution: 2 days (upgrades), 7 days (parameter changes)