MC²Fi builds the Liquid Locker protocol and deploys it on-chain. The contracts run autonomously and permissionlessly — MC²Fi never takes custody of assets and is not a counterparty to any position.
View the live protocol →The Liquid Locker protocol is live in alpha on Monad and Base and has not been audited. The Base (Hydrex) deployment holds our own capital only and is not open to public deposits. Positions are permanently locked and non-redeemable — holders exit by selling on the secondary market. Yields are produced by the protocol on-chain; they are variable and are not guaranteed by MC²Fi. See what the contracts do and do not permit →
Vote-escrowed locks earn real protocol revenue. The Liquid Locker contracts compound it automatically on-chain, so the effective rate compounds far beyond a manual stake.
The headline rate is the current veDUST reward rate read on-chain and annualised as a linear APR (not compounded); rates above 999% are shown as “999%+”. A trailing estimate derived from Neverland protocol revenue (DefiLlama) is used only as a fallback — it divides revenue by the current veDUST value (voting power × DUST price), so it overstates the rate sharply while the DUST price is depressed. The auto-compound figure is an APY; the manual figure is a simple APR — the gap is the compounding edge, not extra emissions. Yields are variable, not guaranteed, and depend on protocol revenue, the DUST price and lock conditions — past performance does not predict future results. External benchmarks (lending, liquid staking) are illustrative. Liquid Locker is alpha, unaudited software and positions are non-redeemable. Not financial advice.
Auto-compounding turns weekly USDC revenue into a far higher effective APY than holding or staking by hand.
Compound, buyback-burn and premium-capture are each accretive to DUST backing per token by construction. USD value still moves with the DUST price.
One liquid ERC-20, bridgeable anywhere. An adapter per protocol means new veNFTs in ~50 lines.
A thin adapter (~50 lines) plugs each ve-protocol into the same core — two are deployed and live today, on Monad and Base. We prioritise which adapters to build by revenue durability, lock mechanics and liquidity — our own engineering assessment, not a rating agency's, and not investment advice.
| Protocol | Asset | Revenue source | Revenue stability i | Build priority i | Status |
|---|---|---|---|---|---|
| HydrexBase | veHYDX | DEX swap fees + vote bribes + rebase | Early / growing | Live · Alpha Own capital — no public deposits | |
| NeverlandMonad | veDUST | Lending interest + liquidation fees, paid weekly in USDC | Early / growing | Live · v2 Beta | |
| AerodromeBase | veAERO | DEX swap fees + vote bribes | High / proven | Next — post-merger | |
| PharaohAvalanche | vePHAR | Concentrated-liquidity swap fees + vote bribes | High / proven | Planned — Q3 2026 | |
| BlackholeAvalanche | veBLACK | DEX swap fees + 100% of vote bribes | Moderate / new | Evaluating |
704 lines of Solidity across vault, oracle and adapters — small surface, fully documented. Tests are not a substitute for an audit.
Security model →The vault is non-redeemable by design — the underlying veNFT is locked permanently so it can never be drained. Your liquidity is the wrapper token, not the lock.
No deposit fee. The contracts route 10% of claimed revenue to the protocol treasury, by construction — applied on-chain to claimed revenue only.
Your exit price depends on secondary-market liquidity and can sit below NAV. Directing all yield to buybacks below NAV supports the price but does not guarantee a peg.
Straight answer: it's alpha, unaudited software, so smart-contract risk is real. Here's exactly what the deployed contracts do and do not permit — including the one privileged keeper role.
The contracts have not been through a formal audit. Today the keeper key is a single signer; a multisig is planned for public launch. Interact only with value you can afford to lose, and verify every address on-chain yourself.
A dedicated rug-resistance write-up is in progress in the docs. Until an audit is complete, treat this as experimental.