LaunchBlock Will Launch A Session Of MX DeFi On MEXC Global
The LaunchBlock will launch a session of “MX DeFi” to enable mining on LBP tokens from April 29 to May 01.
Throughout the campaign, users can stake MX and LBP to earn liquidity yield on LBP. The staking period will last 3 days. Details are as follows:
Details are as follows:
- Campaign start time: 2022-04-29 03:00 (UTC)
- Staking period: 2022-04-29 03:00 – 2022-05-01 16:00 (UTC)
Hard cap and allocation details are as follows:
- The total yield pool includes 2,500,000 LBP tokens.
- MX: no hard cap; a total of 2,000,000 LBP liquidity yield (80% of the yield pool)
- LBP: no hard cap; a total of 500,000 LBP liquidity yield (20% of the yield pool)
Ways to participate:
a). Through MEXC.com: Login into MEXC.com > select “Earn” > “MX DeFi” > find “Stake to mine LBP” to join
b). Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine LBP” 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 LBP, the yield supply of T day is 666,666.66 LBP 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) * 666,666.66LBP = 13,333.33 LBP
Note:
- Minimum Entry Requirement: 10 MX and 800 LBP 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 Launchblock
Launchblock, the decentralized Launch Pad which provides all users with the ecosystem to access early stage projects whilst maximizing the benefits of decentralized finance (De-Fi). Decreasing expense and providing significant opportunity, Launchblock is the one-stop-shop for all projects launching and users accessing a Launch Pad.
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.
