MBTX Token Whitepaper

Table of Contents

1. Abstract

MBTX is a native proof-of-work blockchain secured by the RandomX algorithm. To bring MBTX value into the DeFi ecosystem, WMBTX (Wrapped MBTX) is issued on Polygon PoS (chain ID 137) as a standard ERC-20 token, minted strictly 1:1 against MBTX locked on the L1 by an authorized bridge relayer.

The WMBTX contract is open source, verified on Polygonscan (solc 0.8.35), deploys paused with zero supply, and is designed around the WBTC/WETH-class wrapped-asset model: role separation, rate limits, replay protection, and timelocked privilege escalation.

2. Native MBTX (L1)

• Consensus: Proof-of-Work, RandomX (CPU-friendly, ASIC-resistant)
• Purpose: Decentralized value transfer with permissionless mining
• Bridging: Native MBTX locks on the L1 with a unique transaction reference; the bridge relayer mints the equivalent WMBTX on Polygon

3. WMBTX on Polygon

WMBTX gives MBTX holders access to Polygon DeFi — DEX trading, lending, and composability with any ERC-20 application — while preserving a 1:1 peg to the underlying L1 supply. Because WMBTX is a plain ERC-20 (no proxy, no hidden upgrade logic), it is auditable and interoperable by default.

• Network: Polygon PoS (chain ID 137)
• Standard: ERC-20 + ERC-2612 Permit (OpenZeppelin 5.x)
• Compilation: solc 0.8.35, verified on Polygonscan
• State at deploy: Paused, zero total supply

4. Token Specification

• Name: Wrapped MBTX
• Symbol: WMBTX
• Decimals: 18
• Initial Supply: 0 (minted only via bridge, against L1 locks)
• Standard: ERC-20, ERC-2612 Permit
• Proxy: None — direct implementation, non-upgradeable
• Mint: Restricted to BRIDGE_ROLE, rate-limited
• Pause: GUARDIAN_ROLE / ADMIN_ROLE only

5. Bridge Design

WMBTX follows the lock-and-mint wrapped-asset model:

1. A user locks native MBTX on the L1, generating a unique l1TxRef.
2. The bridge relayer (holder of BRIDGE_ROLE) submits the lock proof to the WMBTX contract.
3. The contract verifies the reference is unused, mints WMBTX 1:1 to the recipient, and marks the reference processed.

Redemption works in reverse: WMBTX is burned with a unique l1RedeemRef, and the equivalent native MBTX is released on the L1.

6. Rate Limits

To bound damage from a compromised relayer signer, all bridge mints are subject to two rolling limits:

• Per-transaction cap: 500,000 WMBTX per mint
• Daily cap: 5,000,000 WMBTX per rolling 24 hours

Limits are enforced on-chain and can only be changed by the admin role. If a single mint exceeds a cap, or the daily window is exhausted, the mint reverts.

7. Security & Role Model

No single key controls the contract. Privileged operations are split across three different roles:

• ADMIN_ROLE — role management, rate-limit configuration (multisig)
• GUARDIAN_ROLE — pause / unpause (multisig)
• BRIDGE_ROLE — bridge minting only (relayer)

A compromised relayer key can mint up to the daily cap but cannot pause the contract, change limits, or grant itself more power. Admin and guardian roles are held by a Gnosis Safe multisig — no EOA controls any privileged role.

8. Governance & Timelocks

• Timelocked role grants: granting BRIDGE_ROLE requires a 48-hour timelock (proposeRoleGrant → wait → executeRoleGrant), giving the community time to react.
• Multisig control: ADMIN_ROLE and GUARDIAN_ROLE are held by the same Gnosis Safe multisig, ensuring no single signer has unilateral control.
• Transparent state: pause state, limits, and all role grants are visible on-chain.

9. Roadmap

• WMBTX deployment & verification on Polygon mainnet — completed
• Bridge role configuration via timelocked multisig grant — in progress
• Bridge relayer enablement & first mint — pending
• DEX liquidity & trading on Polygon — pending
• Cross-chain expansion — future

10. Disclaimer

This document is provided for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency and token investments carry significant risk. Nothing in this whitepaper is a solicitation to buy or sell MBTX, WMBTX, or any other asset. Always do your own research and consult a qualified advisor.