MX-Defi Event is a staking opportunity for users to stake MX/Project Tokens to receive more tokens as the yield. Here you will find event step-by-step participation guide and if you are looking for the detailed product description, please visit this article.
Participation method
There is usually a staking time of about 3 days, and the user needs to stake MX tokens or project tokens for at least 1 day to get the project token reward. First, you need to hold MX Token or Project Token to join MX-Defi. You can buy them through the MEXC Spot market.
Then, go to the MX-Defi Event page from the top menu bar and select any project that is at stake.
Then enter the amount of MX token you would like to stake and also read the risk notice. By agreeing to it, you will finally participate in the round.
If you join staking on day T, then you can unlock the staking token on day T+1;
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 Project Token ABC, the yield supply of T day is 1,000,000 ABC Token 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) * 1,000,000 ABC = 20,000 ABC Token
Benefits of MX-DeFi
MX-Defi will usually give a high return (APY more than 100%) to users who hold the project token and meanwhile give benefits to MX holders. For specific rules, please pay close attention to the announcements of each event.
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