The Planet team will launch a session of “MX DeFi” to enable mining on AQUA tokens from May 07 to May 09.
Throughout the campaign, users can stake MX and AQUA to earn liquidity yield on AQUA. The staking period will last 3 days. Details are as follows:
- Campaign start time: 2022-05-07 12:00 (UTC)
- Staking period: 2022-05-07 12:00 – 2022-05-09 16:00 (UTC)
The total yield pool includes 109 AQUA tokens. Hard cap and allocation details to each staking crypto asset are as follows:
- MX: no hard cap; a total of 87.2 AQUA liquidity yield (80% of the yield pool)
- AQUA: no hard cap; a total of 21.8 AQUA 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 AQUA” to join
- Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine AQUA” 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 AQUA, the yield supply of T day is 29.067 AQUA 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) * 29.067 AQUA = 0.5813 AQUA
- Minimum Entry Requirement: 10 MX and 0.01 AQUA 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.
AQUA is a deflationary governance token for Planet. AQUA has a MAX supply of 100,000 which has been reached. No more AQUA will ever be created. AQUA sits at the center of value creation on Planet, about 50% of all fees generated buy & burn AQUA increasing its scarcity.
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