Newsletter #2 - Liquidity Mining and much more
|Jul 18, 2020||2|
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!
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".
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.
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.
MCDEX’s co-founder Jean Miao was a guest at DeFi Dad’s Ethereal Summit. Waiting for the release of the session!