MCDEX Trading Mining Program Round 1

Published on: 19.09.2021

MCDEX announced that the trading mining program will be live shortly to attract more traders to test V3 Beta.

🔹Trading Mining

Total incentive: 13650 $MCB
Duration — The program will start on UTC 1pm, Sep. 16th, and will last until all the incentives are depleted
They will rebate 120% of the transaction fees paid by traders. For instance, If you pay $10 transaction fees, you will receive $12 worth of MCB as rebate

🔹Incentives Distribution

Distribution frequency: Daily

The daily cutoff is set at 6:00 pm UTC and users will receive their incentives between 6:00 am and 9:00 am UTC on the next day.

Price of $MCB used: TWAP price of $MCB in Uniswap V3 for the past 1 hour prior to trade

🔹No Wash Trading

Although the rebate rate is 120%, it doesn’t mean we encourage wash trading. There is a spread in the AMM pricing, even taking the rebate into account, so opening positions and closing instantly makes no profit. Furthermore, they reserve the right to deduct the MCB reward to wash trading volumes.

🔹Trade at your own risk

Please pay attention that both MCDEX and Arbitrum are in Beta. They have been working relentlessly to make sure that the V3 protocol stays robust after launching on the mainnet.