To enable more users to participate in DeFi yield mining and enjoy the profit from the development of DeFi industry, MXC rolls out the 1st session Margin DeFi Yield Mining without staking assets. That is, users can make loans of specific coins on MXC margin trading to participate in DeFi yield mining and receive mining yield. Besides, the loaned assets will not be locked, which can be used for margin trading.
In this session, the project for the Margin DeFi Yield Mining is Filecash (FIC). There will be USDT, BTC, ETH mining pools. In addition to the mining yield reward, miners who join margin trading during the yield mining period can share 50% margin trading fees, additional FIC token reward and 100 USDT margin trading voucher.
I. Introduction of the project for yield mining
As the first forked coin of filecoin, Filecash hopes to form a balanced system with developers, miners, and communities interacting closely and sharing benefits.
II. Yield mining period:
00:00, October 24 - 24:00, October 27 (UTC+8); a total of 4 days
Users who want to participate in the Margin DeFi Yield Mining shall register first via the form link below:
Note: MXC reserves the right to set the cap of registrators or close the form based on the number of participants and the amount of mining yield.
IV. How to participate?
Registered users who make loans of specific coins (in this session, it's USDT, BTC or ETH) on MXC margin trading during the yield mining period will be deemed to have joined yield mining activity successfully. The system will record participant's loan position randomly, and the yield will be based on the proportion between user's loan amount and the total loan amount of all participants in the day.
V. Mining Pool and Yield Allocation
USDT margin mining pool: no hard cap; total yield pool of 80,000 FIC, 20,000 FIC per day.
BTC margin mining pool: no hard cap; total yield pool of 20,000 FIC, 5,000 FIC per day.
ETH margin mining pool: no hard cap; total yield pool of 20,000 FIC, 5,000 FIC per day.
Note: The daily loan cap for a user is 3 million USDT or 60 BTC or 2,000 ETH.
VI. Mining Yield Calculation and Additional Reward
In addition to the mining yield reward, participants who join margin trading during the yield mining period can share 50% margin trading fees, additional FIC token reward and 100 USDT margin trading voucher.
1. Daily Mining Yield Calculation
Take USDT margin mining pool as an example. Suppose miner's loan is (n), total loans of the mining pool is (m), and the FIC yield pool of the day is (a), then the miner's per day mining yield: y1 = (n/m)*a
2. Daily margin trading fee reward calculation
Miners with margin trading volume no less than 1,000 USDT of the day during the yield mining period are eligible to share 50% of the margin trading fee from all miners based on the proportion between the miner's loan amount (n) and the total loan amount (m) of the mining pool. The formula is:
The miner's fee reward of the day: y2 = (n/m) * i * 50%
3. Additional FIC token reward
All miners who have joined margin trading during the yield mining period can share an additional prize pool of 10,000 FIC in proportion to their margin trading volume respectively.
4. 100 USDT margin trading voucher
All miners can get a margin trading voucher with face value of 100 USDT. The 100 USDT voucher can only be exchanged to 100 USDT prize providing that the user join margin trading with trading volume no less than 100,000 USDT within 7 days after the mining activity concludes, i.e. from 00:00, Oct.28 - 24:00, Nov.3. Please note that users shall add MXC staff's telegram (username: @celinemxc) to get the voucher.
VII. Loan fee discount
All miners can enjoy 40% loan fee discount for USDT, BTC, ETH loans during the yield mining period. (excluding the users who have already enjoyed special loan fee rate)
1. Any repaymenet of loan during the yield mining period will be deemed as giving up the yield mining qualification. The mining yield and fee reward of the day will be disqualified, and the user is unable to participate in the yield mining anymore.
2. Loan amount refers to the cumulative loan amount in the yield mining period.
3. If the loan period does not reach 4 hours in a day, the loan will not be counted in yield mining of the day.
4. Users can participate in USDT, BTC, ETH yield mining pools at the same time.
5. The FIC yield will be calculated daily, and will be distributed on the next day.
6. To ensure fairness, MXC has the right to require cheating suspicious users to complete KYC verification.
7. MXC reserves the right to cancel the whole activity or amend the rules at our sole discretion.
Find us on:
MXC trading: https://t.me/MXCtrade
Register an account of MXC here:
Enjoying your trade on MXC.
The MXC team
October 23, 2020