Question 1

What is MVRK?

Accepted Answer

MVRK is the native coin of Mavryk Network—the base asset used at the network protocol layer. It is used for network functions including transaction fees, validation and staking, and governance; these uses differ from those of a token issued independently by an application. Native MVRK can directly perform network-layer functions. When interaction with decentralized applications requires the MRC token interface, its wrapped form, wMVRK, can be used.

Question 2

Why is MVRK used to pay transaction fees?

Accepted Answer

MVRK can pay transaction fees when a transfer is submitted or an application is called on Mavryk Network. The fee is the cost of the network processing and recording the operation, so users need to hold native MVRK to complete the relevant on-chain operation. Transaction fees are not a fixed percentage of the transfer amount; actual cost depends on the specific operation and network rules. Even when operating other MRC assets, users should retain MVRK as the fee asset.

Question 3

How is MVRK related to validation and staking?

Accepted Answer

MVRK is used for staking and validation. Validators participate in network validation and transaction confirmation, and staking links their network role with economic participation; the network uses block rewards as part of validation-related incentives. Holding MVRK does not automatically generate validation rewards. Participants must complete valid participation under the network’s staking and validation rules; whether rewards arise and who receives them depend on the rules applicable at the time.

Question 4

What role does MVRK play in governance?

Accepted Answer

MVRK is also used for governance voting. Governance concerns participation in network- or treasury-related decisions, which is distinct from paying transaction fees and performing validation work. Voting eligibility, weight, duration, and execution outcomes for particular proposals are subject to the formal rules of the relevant governance process. “Usable for governance” should not be understood to mean that every token-holding address has identical rights in every matter.

Question 5

Why does MVRK need to be wrapped as wMVRK?

Accepted Answer

Native MVRK is the chain’s base asset, but OpenMavryk documentation states that it does not conform to the MRC standard. Some decentralized applications process assets through the MRC interface, so MVRK must be wrapped as wMVRK to interact with other token contracts through that interface. Wrapping changes the asset’s interface and composability within contracts; it does not permanently exchange MVRK for an unrelated new asset. wMVRK is a wrapped representation corresponding to native MVRK.

Question 6

How can wMVRK be converted back to MVRK?

Accepted Answer

To wrap, a user deposits MVRK into the wrapping smart contract, and the contract mints an equal amount of wMVRK to the user, establishing a 1:1 correspondence. To unwrap, the user submits wMVRK; the contract burns that wMVRK and returns an equal amount of MVRK. Wrapping and unwrapping convert between the native asset and the MRC interface; they are not secondary-market trades. If wMVRK is sold on a market, the execution price and counterparty are determined by that market. Recovering MVRK through the equal-amount mechanism requires unwrapping through the wrapping contract.

Question 7

Will MVRK’s supply remain fixed?

Accepted Answer

Mavryk lists a base supply metric of 1 billion MVRK, but this does not mean supply is fixed at every point in time. Block rewards form an issuance mechanism that creates new MVRK, while burn mechanisms reduce token quantity. Therefore, base supply, block rewards, and burns should be distinguished: the first is an economic-model metric, while the latter two respectively increase and decrease supply. The quantity available to circulate at a particular time also depends on distribution, locks, and holding status, and cannot be determined from the figure of 1 billion alone.

Question 8

How should these uses be distinguished when using MVRK?

Accepted Answer

MVRK’s different uses are not interchangeable: transaction fees pay for specific on-chain operations; staking and validation relate to network security and block rewards; governance relates to decision-making participation; and wrapping makes the native asset compatible with MRC application interfaces. Before acting, users should determine whether their goal is to submit a transaction, participate in a network mechanism, or interact in an MRC application, then select native MVRK or wMVRK accordingly. They should also retain native MVRK to pay fees when submitting on-chain operations.

Question 9

What should be considered before transferring or wrapping MVRK?

Accepted Answer

Before transferring or wrapping MVRK, confirm that the correct wallet and contract on Mavryk Network are being used, and retain MVRK to pay for on-chain operation fees. Wrapping must interact with the corresponding wrapping contract; assets sent to an incorrect address or incompatible contract may not be recoverable through the 1:1 mechanism. After wrapping, wMVRK can be used in MRC-compatible applications. When a native asset is needed, wMVRK should be burned through the corresponding unwrapping process to recover MVRK; selling on any platform should not be assumed to be equivalent to unwrapping.

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