The Fetch.ai and Mettalex teams are excited to announce the launch of the first Phoenix Program, a rewarding initiative designed to distribute MTLX tokens to users who stake their FET tokens. This collaboration marks a significant step in bridging decentralized finance (DeFi) with real-world commodity markets through innovative blockchain infrastructure.
Over a three-month period, 250,000 MTLX tokens—valued at $2 million based on current pricing—will be distributed to active FET stakers. Whether you're already staking FET or planning to begin, this is your opportunity to earn high-yield rewards without lock-in periods or complex requirements.
How the Phoenix Program Works
This incentive program is built for accessibility and transparency, offering a seamless way for FET holders to boost their returns while supporting network security and decentralization.
Key Details at a Glance
- Program Duration: February 19, 2021 – May 19, 2021
- Total MTLX Rewards: 250,000 tokens ($2M value)
- Daily Distribution: Over $22,200 worth of MTLX per day
- No Lock-Up Period: Claim your earned MTLX anytime
- Daily Snapshots: Rewards calculated daily at 12:00 UTC
- Simple Enrollment: One-click registration via the staking dashboard
👉 Start earning MTLX by staking FET today—maximize your crypto returns with ease.
Step-by-Step Guide to Participate
To take advantage of this opportunity, follow these straightforward steps:
- Ensure You Have FET Tokens
Hold FET in your MetaMask wallet. If you don’t own any yet, you can acquire them on major exchanges like Binance, Bitfinex, or decentralized platforms such as Uniswap and Balancer. - Verify the Correct Token Contract
When purchasing FET on DEXs, confirm the contract address:0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85
Using an outdated contract may result in receiving legacy tokens that aren’t compatible with staking. - Connect Your Wallet
Visit the official staking portal at staking.fetch.ai and connect using MetaMask. For enhanced security, consider linking a hardware wallet like Ledger or Trezor. Top Up and Approve Your Stake
- Click “Top-up” to initiate the process.
- The first transaction approves the amount you wish to stake (requires ETH for gas).
- After confirmation, click “Top-up” again to complete the deposit—this second step incurs no additional fee.
- Enroll in the Phoenix Program
Once your FET is staked, navigate to the "Phoenix Program" section on the dashboard and click "Enroll". Confirm the transaction in MetaMask to begin earning MTLX rewards immediately.
⚠️ Important: Never send FET directly to the staking smart contract address. Doing so bypasses the protocol entirely, making your funds unreachable. Always use the official staking interface.
Frequently Asked Questions (FAQ)
1. Can I unstake my FET at any time?
Yes, you can initiate an unstake request whenever you choose. However, there is a 21-day unbonding period before your tokens are released back to your wallet. Only staked FET qualifies for MTLX rewards during the program.
2. I sent my FET directly to the smart contract—what should I do?
Tokens sent directly to the contract are technically unrecoverable. To avoid this issue, always interact with the staking platform through the official web interface. If you’ve made this error, contact Fetch.ai support via their Telegram channel for guidance.
3. Why don’t I see my staked balance in MetaMask?
Due to Ethereum network congestion, there may be delays in front-end updates. Wait for the first transaction (approval) to confirm on-chain before expecting the second (deposit) to trigger automatically. Avoid refreshing the page, as this won’t speed up processing.
4. Are more MTLX distribution programs planned?
Yes—this is just the beginning. An additional 750,000 MTLX tokens will be distributed in similar incentive campaigns over the coming months, giving long-term stakers continued earning potential.
5. I have old FET tokens—how do I upgrade?
If you hold legacy FET tokens, visit the token migration guide for instructions. Users who purchased via Primablock must submit withdrawal details (transaction hash) to [email protected]. Exchange users typically receive automatic updates—contact your platform if issues arise.
6. Someone claiming to be a Fetch.ai admin DM’d me offering free tokens—should I trust them?
No. Official administrators will never message you first. Any direct message asking for ETH transfers or personal information is a scam. Report suspicious accounts immediately within the Fetch.ai Telegram community.
About Mettalex: Decentralizing Commodities Trading
Mettalex is a decentralized commodity derivatives exchange built on Fetch.ai’s advanced agent-based architecture. Its mission is to bring the $20 trillion global commodities market into DeFi, enabling transparent, permissionless access for traders, liquidity providers, and physical asset holders worldwide.
By integrating autonomous economic agents from Fetch.ai, Mettalex ensures secure and reliable price feeds for commodities like gold, oil, and agricultural products. These agents operate independently, reducing reliance on centralized oracles.
MTLX serves as the platform’s governance token, empowering holders to vote on critical decisions such as:
- Selecting automated market makers
- Launching new trading markets
- Adjusting fee structures
- Setting interest rates for lending and borrowing
- Allocating spread percentages to liquidity pools
With mainnet integration on the horizon, Mettalex will fully leverage Fetch.ai’s infrastructure for smarter, self-optimizing financial mechanisms.
About Fetch.ai: Powering Autonomous Economic Agents
Fetch.ai is a Cambridge-based AI lab developing a decentralized machine learning network where autonomous software agents perform complex economic tasks. These agents facilitate coordination across industries—from supply chains to energy grids—using secure data and predictive analytics.
The Fetch.ai blockchain supports AI-driven applications like Mettalex, enabling real-world use cases in DeFi, IoT, and digital twins. As one of the earliest major dApps built on this stack, Mettalex exemplifies how AI and blockchain converge to solve real economic challenges.
👉 Discover how AI-powered staking can transform your investment strategy—join the future of DeFi now.
Final Thoughts
The Phoenix Program represents more than just a staking reward—it’s a gateway into next-generation decentralized finance powered by artificial intelligence and autonomous systems. By staking FET, users not only earn MTLX but also contribute to a growing ecosystem that’s redefining how value is created and exchanged.
Whether you're new to crypto or a seasoned DeFi participant, this is an ideal opportunity to engage with cutting-edge technology while earning competitive yields.
👉 Unlock high-return staking rewards—join the Phoenix Program and grow your crypto portfolio today.
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