After tech-connection with the project party, MXC now supports DZI rebase mechanism. Users shall arrange DZI deposit, withdrawal and trading time properly. The following are the details:
1. What is the meaning of rebase ?
Rebase refers to the adjustment of supply. When Rebase occurs, the amount of DZI in the entire network will change. When the price is higher than 1.05 or lower than 0.95, the supply of DZI will change, making the price approach 1 USDt as closer as possible. You can get the specific information from our white paper: https://medium.com/@definitionnetwork/definition-network-whitepaper-a592995c8e24
2. When does rebase start? Is it a fixed time?
Starting from 4th, September, Rebase will be fixed at 10:30 UTC every day. The reference price will still be the median price from 00:00 to 24:00 UTC the day before. During the rebase period, the depsosit, withdrawal and trading for DZI will be paused. If you have open orders, please cancel them in advance, or the system will cancel them automatically and relevant assets will be returned to the owner's spot account. They will be resumed once the rebase complete (The rebase process is estimated to last 40 min.)
Note: Users can login on MXC official website and go to Fund history->Other records->Rebase to check the rebase details.
3. Are there upper and lower limits for the increase and decrease in the number of tokens?
There is no upper limit, the lower limit is 0
4. Is there no token dividend between 0.95–1.05U?
We cannot call rebase as dividends. If the reference price of the previous day is within this range, then no rebase will be performed on that day.
5. How is the reference price selected?
We will get the current price of DZI from the Oracle and record it. At 24:00 UTC, the price of the whole day will be sorted from low to high, and the median price of the ranking will be used as the reference price of the day.
6. Will the price change after rebase?
After occurrence of Rebase, the amount of DZI held by everyone will change, but the market value and proportion of DZI held will not change.
Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. MXC Exchange will make best efforts to choose high quality coins, but will not be responsible for your investment losses.
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Enjoying your trade on MXC.
The MXC team
September 4, 2020