All traders on Morpher are also Morpher token (MPH) owners. This short overview covers the basics of MPH tokens and the overall token economy. You’ll find more detailed information on distribution, supply, and demand in Token Economics.
Usage
Every trade on Morpher is placed using MPH tokens, and all gains/losses are paid out in MPH. Even with fiat-stable trading planned in a future release, MPH will always be the settlement currency. This is because MPH uniquely enables the entire Morpher Protocol.
Token Structure
MPH is an ERC20 token, built on top of Ethereum like many Decentralized Finance (DeFi) tokens. Some of the most popular cryptocurrencies are ERC20 tokens. Following the ERC20 token standard makes MPH natively compatible with nearly all crypto wallets and crypto exchanges.
Buying and Selling
MPH tokens are available for buying and selling on several crypto exchanges. A user's ability to convert MPH into other currencies and vice versa, as well as the currencies available, will vary by exchange. Support for more exchanges and easier buying and selling is always in development.
Price
The MPH token's price is free-floating, not fixed. Instead the price is determined by trading activity on crypto exchanges where MPH is listed. This is directly analogous to most major currencies such as $ Dollars, £ Pounds, or € Euros. All of these currencies have an external price that is set by traders on foreign exchange markets.
The reason MPH should increase or