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 Contract DeFi Yield Mining without the requirement of staking assets. That is, users who deposit USDT in contract account and trade an order of BTCUSDT perpetual contract will be deemed as participanting in the Yield mining successfully and can earn yield of WOO and RAK tokkens. The Contract DeFi mining will be lasted for 3 days.
In addition to the mining yield reward, users who register successfully can receive 10 USDT contract bonus. Besides, 50% of the contract trading fees during the mining period will be returned in the form of contract bonus. Last but not the least, deposit assets in contract account can win up to 100 USDT contract bonus.
I. Yield mining period:
00:00, October 30 - 24:00, November 1 (UTC+8); a total of 3 days
II. Introduction of the project for yield mining
1. Wootrade is incubated by the top quantitative fund Kronos Research, which aims to solve the pain points of the diversified liquidity of the cryptocurrency market, and provides sufficient trading depth for users such as exchanges, wallets, and trading institutions with zero fees.
2. RAKE is a deflationary token that is designed to maximize yield farming, while the protocol builds a vault with locked liquidity forever, and 90% of all yields from liquidity mining will be used to buy back RAK on active Uniswap market, and pay the reward on RAK tokens. The total supply is 7500 RAK tokens.
III. Mining Yield Allocation
Total mining yield of WOO is
IV. How to participate the yield mining?
Users who want to participate in the Contract DeFi Yield Mining shall register first via the form link below:
Users who registers by the above form before the end of the mining date and whose total assets in contract account no less than 3,000 USDT are eligible to be a miner.
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.
2. How to mine?
Users who registers successfully before the end of the mining date and trade no less than 2,000 cont. BTCUSDT perpetual contract of the day will be deemed as participating in the yield mining successfully for the day.
The yield will be calculated in proportion to user's asset amount in the contract account of the day.
Note: The assets in contract account will be recorded at 24:00 (UTC+8) each day. Please ensure your asset is no less than 3,000 USDT to be qualified.
3. Invalidity of mining eligibility
1. Any assets transferring out of the contract account during the mining period will be deemed as giving up the yield mining. The user can no long participate in the yield mining of the day, and there will be no yield for the day.
2. The trading volume of BTCUSDT contract shall not be less than 2,000 cont. of the day, or there will be no yield for the day
V. Mining Yield and Other Rewards
1. Reward for registration
Users who register successfully can receive 10 USDT contract bonus.
2. Miner's daily yield = (a miner's total assets in contract account / the total assets in contract accounts of all miners) * Daily WOO/RAK yield amount.
*eg. Suppose the total contract assets of all miners on October 30 is 100,000 USDT, miner A has 10,000 USDT in his contract account, and the yield amount of WOO, RAK on the day is 40,000 and 9 respectively. If miner A trade BTCUSDT perpetual contract with trading volume no less than 2,000 cont. on the day, he can receive the mining yield of 400 WOO + 0.9 RAK.
3. 50% trading fee refund
50% of the contract trading fee by all the miners during the mining period will be refunded to miners in the form of contract bonus. Each miner can receive up to 100 USDT contract bonus.
4. Deposit reward
Users with net transfers no less than 5,000 USDT in contract account can receive 50 USDT contract bonus, and 10,000 USDT receive 100 USDT contract bonus.
*Please note that if the user transfers the assets out of the contract account before the distribution of the contract bonus, the prize will be invalid.
1. Trading volume = Opening cont. + closing cont.; Total assets in contract account = balance + unrealized PnL; Net transfer = transfer in - transfer out
2. Prize distribution time: the mining yield will be distribute on the next day. The contract bonus of registration reward, trading fee refund, deposit reward will be distributed within 3 days after the mining ends.
3. Introduction of contract bonus:
- The bonus will be distributed to your contract account. You can log in to the official website via https://www.mxc.com/ and check it in "Derivatives" - "Swap Orders" -"Capital Flow".
- The bonus can only be used for contract transactions, and the earning part can be withdrawn; the bonus itself cannot be withdrawn.
- The bonus can be used as a margin for trading, and can also be used for trading fees, losses, and funding costs.
- Any asset transfer out of the contract account will result in the bonus being cleared.
- The bonus is valid until 24:00(UTC+8) on November 30th. If the user has not used the bonus for a long time after receiving the bonus, MXC reserves the right to reclaim the bonus. Please pay attention to the risk of liquidation during the period.
4. Contract API users are not valid for the yield mining activity. MXC reserves the right to require the winner to complete KYC verification. Washing trading and any other rule-breaking behaviors are prohibited, or MXC has the right to deprive user's prize. MXC reserves the final explanation right of the activity.
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MXC trading: https://t.me/MXCtrade
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Enjoying your trade on MXC.
The MXC team
October 29, 2020