Newsletter #2 - Liquidity Mining and much more

We hope you enjoyed reading our first newsletter. In this second newsletter, we focus on key developments that took place at MCDEX.

Excited? You better be!

Liquidity Mining Launched

MCDEX launched Liquidity Mining on July 8th. Get MCB by providing liquidity to the AMM!

- Total supply for this round: 410,000 MCB
- 2 MCBs allocated per block
- MCBs to be airdropped to users’ wallets every Monday

Here’s the official announcement: https://medium.com/@montecarlodex/mcdex-will-launch-liquidity-mining-on-july-8th-8084691f8d6e

Updated our Liquidity Mining Guide

Our guide for liquidity mining is now up to date. Access it here - https://medium.com/@montecarlodex/mcdex-liquidity-mining-guide-d928f3383b7b

It focuses on:
- What is Liquidity Mining
- Participating in Liquidity Mining
- Risk Exposure

Prepare yourself for Yield Farming on MCDEX!

New Proposal for Liquidity Mining

The team provided a default Liquidity Mining strategy (50/50 strategy), with a risk exposure of 50% ETH+50% USD. We changed the liquidity mining rule of XIA to incent the miners to not only provide liquidity but also to rebalance their portfolio.

Check out the new rules for the distribution of mining rewards - https://github.com/mcdexio/liquidity-mining/issues/25

The proposal was implemented on Thursday, 16 July 2020. Ready to mine MCB by providing liquidity to the AMM? Start here.

Implementation of Rebalance Button

We implemented the "Rebalance" button in our product this week using which you can now rebalance your portfolio with a single click!

Reference - https://github.com/mcdexio/liquidity-mining/issues/25

How to rebalance - https://medium.com/@montecarlodex/how-to-rebalance-20ba98f62a66

Total Value Locked

As of July 18, $5.66M is locked in our project. It has been a steady increase over the past few weeks. Thanks to every member of the community.

Podcast Session with Kerman Kohli

MCDEX’s Head of Business Development, Gareth (aka DaoChemist) launched his podcast named “Trading #DeFi 101".

The guest for the first episode was Kerman Kohli, the founder of DeFi Weekly. Hear them talk on the potential of liquidity mining and derivatives, and the usefulness of the AMM!

Link to the episode - https://www.buzzsprout.com/1198643/4430771

AMA with Chainlink China

MCDEX’s co-founder Jean Miao was the guest for the AMA with Chainlink China on July 8th. I hope you enjoyed the session! Stay tuned for more such sessions!

ETH-PERP Trading Competition Results

The results of the ETH-PERP trading competition were announced this week. Congratulations to all the winners. The winner of the community engagement prize will be announced in the coming week.

Join us on Discord

We set up our discord server this week for you to join. Let’s get to know each other better. Share your suggestions with the MCDEX team. We like to keep things organized.

JOIN MCDEX'S DISCORD SERVER

Video Creation Competition on Liquidity Mining Tutorial

Win 50 MCB tokens by creating a quality tutorial video on our "Liquidity Mining". Submit your entry in the #competitions channel of our discord server before 24 July 2020, 12 PM UTC

Liquidity Mining Guide - https://medium.com/@montecarlodex/mcdex-liquidity-mining-guide-d928f3383b7b

Liquidity Mining FAQ - https://medium.com/@montecarlodex/liquidity-mining-faq-54d0b5e8a904

How to Rebalance - https://medium.com/@montecarlodex/how-to-rebalance-20ba98f62a66

For any queries, join our Discord server or our Telegram Group.

Special Mentions

MCDEX’s co-founder Jean Miao was a guest at DeFi Dad’s Ethereal Summit. Waiting for the release of the session!