Toobcoin Will Launch A MX DeFi’ Mining Session On MEXC Global
The Toobcoin team will launch a session of “MX DeFi” to enable mining on TOOB tokens from April 23 to April 25.
Throughout the campaign, users can stake MX and TOOB to earn liquidity yield on TOOB. The staking period will last 3 days. Details are as follows:
- Campaign start time: 2022-04-23 07:00 (UTC)
- Staking period: 2022-04-23 07:00 – 2022-04-25 16:00 (UTC)
The total yield pool includes 200,000 TOOB tokens. Hard cap and allocation details to each staking crypto asset are as follows:
- MX: no hard cap; a total of 160,000 TOOB liquidity yield (80% of the yield pool)
- TOOB: no hard cap; a total of 40,000 TOOB 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 TOOB” to join
- Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine TOOB” 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 TOOB, the yield supply of T day is 53,333 TOOB 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) * 53,333 TOOB = 1,066 TOOB
Note:
- Minimum Entry Requirement: 10 MX and 20 TOOB 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 Toobchain
Toobchain is the general name of the network that Toobemi will create with its sidechain technology. We call the currency that will be used over this network as Toobcoin, or TOOB for short. Users can securely store or transfer crypto funds on Toobwallet. It can also be used as a cold wallet.
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.
