The Round X Team To Launch A MX DeFi Mining Session On MEXC Global
The Round X team will launch a session of “MX DeFi” to enable mining on RNDX tokens from May 27 to May 29. Throughout the campaign, users can stake MX and RNDX to earn liquidity yield on RNDX. The staking period will last 3 days. Details are as follows:
- Campaign start time: 2022-05-27 10:00 (UTC)
- Staking period: 2022-05-27 10:00 – 2022-05-29 16:00 (UTC)
The total yield pool includes 3,000,000 RNDX tokens. Hard cap and allocation details to each staking crypto asset are as follows:
- MX: no hard cap; a total of 2,400,000 RNDX liquidity yield (80% of the yield pool)
- RNDX: no hard cap; a total of 600,000 RNDX 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 RNDX” to join
- Through MEXC App: Login through MEXC App’s homepage > find “MX DeFi” > find “Stake to mine RNDX” 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 RNDX, the yield supply of T day is 800,000 RNDX 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) * 800,000 RNDX = 16,000 RNDX
Note:
- Minimum Entry Requirement: 10 MX and 500 RNDX 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 RNDX
RNDX will be functioning as the right to speak out not just a currency on the platform. If a user with a certain amount of RNDX wants to set a vote for a suggestion of a new service, user competition in a specific sector, or even other ideas, the user can suggest a vote within a qualified user group for DAO. The qualification standard will be set by the team at the first stage, but it can be adjusted by DAO’s operation later.
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.
