MEXC Eexchange The 14th Session “Voting to Extend the Assessment Periods and Share Trading Fee” Event Goes Live
MEXC will launch the 14th session of “Voting to Extend the Assessment Periods and Share Trading Fee” activity at 09:00, April 24, 2021 (UTC+8). Users can vote for their supported projects in the Assessment Zone through MX to extend the assessment periods, and share the trading fee. The details as follows:
1. Voting for: POOL, OPIUM, QI, BASV2 & BAKE
2. Voting Period: 09:00–17:00 (UTC+8) on April 24, 2021
3. Calculation of Extended Days
Every 10,000 MX means 10,000 votes, which can extend for 1 day, and the method of rounding up is adopted. After the voting ends, the number of extension days is calculated based on the cumulative votes of all users’ MX amount.
For example: Project A receives a total of 865,340 MX votes, the number of days that can be extended is:
865340 / 10000 = 86.534 days. After rounding up, the number of extension days for Project A is 87 days.
4. Rules of Voting
a. Users can vote by MX token. During the voting period, users can vote as many times as you want and there’s no voting caps.
b. The MX token used for voting will be frozen until the end of the extended periods. During the frozen time, the MX can not be traded and withdrawn but is eligible for Space-M and M-Day.
5. Rewards for Voting
Users who participate in the voting event can share 50% of the total trading fee of the supported project during the extended periods in proportion to the number of votes.
5a. Calculation of the Rewards
Suppose the number of MX votes that User A has voted for the project is a, the total number of MX votes for the project is b, the total trading fee during extended days period is c, and the reward for User A is m, then m=c*50%*a /b
The total trading fee of a project within 7 days is 10000 USDT, the total number of cumulative MX votes of the project is 865340, and the total number of votes of User A is 59800 MX. Then the reward shared by User A is:
5b. Rewards Distribution
After the voting, the rewards will be distributed every 7 days, and the rewards of this week will be distributed in the following week.
Rewards will be issued to your spot account in the form of USDT, and the trading fee for ETH trading pairs will be converted into USDT at the average closing price within 7 days.
6. Unlocking Rules
User are able to unlock the voted MX token before the agreed date. The details are shown below:
- Unlocking entrance: Website homepage > Activity > Assessment Zone Voting > My Vote
- Unlocking rules: Users can unlock the MX token in different batches based on real need. There will no processing fees when unlocking, but the USDT fee reward during the freezing period needs to be returned. Deduction will be made by deducting MX with the equivalent value of USDT.
- Unlocking MX will influence the extended days of the project. Every 10,000 MX unlocked, 24h extended time will be reduced. The round up method will be used to update the extending period.
For example: If Project A has a vote of 361,987 MX token, and 59,403 MX token will be unlocked. The remained extending days of Project A is: (361,987–59,403) /10,000 = 31 days
4. When unlocking MX token causes the extended period of a project less than 24h, MXC will hide & delist the project or perform N+1 voting.