Philcoin To Launch MX DeFi Mining Session On MEXC Global
The Philcoin team will launch a session of “MX DeFi” to enable mining on PHL tokens from April 21 to April 23.
Throughout the campaign, users can stake MX and PHL to earn liquidity yield on PHL. The staking period will last 3 days. Details are as follows:
- Campaign start time: 2022-04-21 15:00 (UTC)
- Staking period: 2022-04-21 15:00 – 2022-04-23 16:00 (UTC)
The total yield pool includes 30,000 PHL tokens. Hard cap and allocation details to each staking crypto asset are as follows:
- MX: no hard cap; a total of 24,000 PHL liquidity yield (80% of the yield pool)
- PHL: no hard cap; a total of 6,000 PHL liquidity yield (20% of the yield pool)
Ways to participate:
- Through MEXC.com: Login into MEXC.com > select “Finance” > “MX DeFi” > find “Stake to mine PHL” to join
- Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine PHL” 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 stake 10,000 MX to earn PHL, the yield supply of T day is 8,000 PHL for MX pool, and the total staking value of T day (snapshot taking on T+1 day) is 500,000 MX, User A can earn a yield of:
(10,000 / 500,000) * 8,000 PHL = 160 PHL
Note:
- Minimum Entry Requirement: 10 MX and 5 PHL respectively;
- If a user joins staking on day T, he/she can unlock the staking token on day T+1;
- The yield is calculated daily and will be distributed to the user’s account on the next day.
About Philcoin
Philcoin is a philanthropic movement in the blockchain whose purpose is to establish a global Interactive Ecosystem where the daily use of IOT “Internet Of Things”, Social Media, educational, means of communication, become a rail where people can earn while they use the products and services. Given our history of humanitarian support and endeavours, Philcoin’s purpose is to give back while people transact on blockchain.
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.
