MXC has upgraded the "DeFi Yield Mining" to "MX DeFi" program. Users can stake MX, USDT, ETH or other designated coins on MX DeFi to earn liquidity yield. The yield amount will be calculated based on the proportion between user's staking value and the total staking value.
In the 4th session of "MX DeFi", users can stake MX or USDT to earn liquidity yield of Chicken Finance (KFC). The details are as follows:
1. Staking period: 4 days from Oct.13 to Oct.16
2. Staking coins and yield allocation:
- MX: no hard cap; a total of 1,200 KFC liquidity yield (60% of the yield pool)
- USDT: no hard cap; a total of 800 KFC liquidity yield (40% of the yield pool)
3. Login MXC website > "PoS Pool" > "MX DeFi" > find relevant product to join
4. 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 KFC, the yield supply of T day is 300 KFC, and the total staking value of T day (snapshot taking on T+1 day) is 50,000 USDT, then, User A can earn a yield of:
(10,000*0.1572 / 50,000) * 300 KFC = 9.432 KFC (1MX = 0.1572 USDT)
1. Entry standard: 10 MX, 1USDT respectively
2. If a users join staking on T day, he/she can unlocking the coin on the T+1 day;
3. The yield is calculated daily, and will be distributed to user's account on the next day.
4. User's MX staking value will be converted into USDT at the price upon taking the snapshot.
Circulation Supply: 142,420 KFC
Amount for MX DeFi yield mining: 2,000 KFC
Official website: https://chickenswap.org/#/
Project profile: ChickenSwap is completely distinguishable from the existing DEX’s on the market. While adopting the brilliant model of automatic market maker (AMM) and staking mining mechanism from Sushiswap , ChickenSwap is a more simplified, fair, secure, and profitable version of SUSHI that will launch in multiple phases to ensure sustainability.
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MXC trading: https://t.me/MXCtrade
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Enjoying your trade on MXC.
The MXC team
October 13, 2020