Announcement on matters after the maturity of the lock-up positions in the boardroom on MDEX
Many users have participated in the single token mining with a lock-up period of 30-day, 90-day, 180-day or 365-day since the start of the long-term lock-up plan in the boardroom sector on July 19, 2021. The current rules stipulate that the pledged MDX will be automatically converted to demand deposit after the mature of the lock-up and can continue to enjoy rewards as demand deposits.
A proposal of "MDX that is not unlocked after the mature will no longer be rewarded for mining" initiated by community users passed the referendum. MDEX team will execute this proposal according to DAO. Subsequently, MDX pledged will no longer be automatically converted to demand deposit after maturity, nor enjoy the rewards. Users need to redeem MDX with XMDX after which, users can restake those redeemed assets.
In the fierce competitive environment where new products appear and disappear rapidly, MDEX keeps its initial intention in mind as a DEX, mitigating impermanent loss for liquidity providers, maintaining low slippage and transaction fees for traders and gradually becoming a decentralized autonomous organization (DAO) for the community to make the platform work more transparent and efficient. Thank you very much to all participants who have made suggestions for the ecological development of MDEX.
Oct 22 2021