MEXC Global Launching “MX DeFi” With Drops Ownership Power

MEXC launch a session of “MX DeFi” to enable mining on Drops Ownership Power DOP tokens from December 2 to December 5. Throughout the campaign, users can stake MX and BIT to earn liquidity yield on DOP. The staking period will last 4 days. Details are as follows:

  1. Campaign start time: 2021-12-02 13:00 (UTC)
  2. Staking period: 2021-12-02 13:00 – 2021-12-05 16:00 (UTC)

The total yield pool includes 24,400 DOP tokens. Hard cap and allocation details to each staking crypto asset are as follows:

MX: no hard cap; a total of 17,080 DOP liquidity yield (70% of the yield pool)

BIT: no hard cap; a total of 7,320 DOP liquidity yield (30% of the yield pool)

Ways to participate:

a). Through MEXC.com: Login into MEXC.com > select “Finance” > “MX DeFi” > find “Stake to mine DOP” to join

b). Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine DOP” to join

 

Liquidity yield calculation (daily):

User’s daily yield amount = (User’s staking value / total staking value) * Yield supply of the day

For example: Suppose user A stakes 10,000 MX to earn DOP, the yield supply of T day is 4,270 DOP for MX pool, and the total staking value of T day (snapshot taking on T+1 day) is 500,000 MX, then, User A can earn a yield of:

(10,000 / 500,000) * 4,270 DOP = 85.4 DOP

About Drops

Drops DAO provides loans for NFT and DeFi assets, supplying them with much-needed utility.The protocol uses lending pools that enable any type of NFT asset to be  used as collateral — from collectibles and metaverse items, to financial NFTs. Users can leverage their idle NFTs and DeFi tokens to obtain loans and earn extra yield.

About MEXC

MXC Exchange is an exchange platform focusing on cryptocurrency assets, founded by some senior practitioner in blockchain industry and specialists from Wall Street, Japan, and Europe. MXC offers safer, smarter, and more convenient exchange services, together with selected blockchain asset, safety insurance, dedicated to building a world-leading cryptocurrency exchange platform.

Source:
https://support.mexc.com/hc/en-001/articles/4410923542681-MEXC-will-List-Drops-Ownership-Power-DOP-launch-a-Session-of-MX-DeFi-

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