Announcing the brand new trading mining V2 on BSC. The objective is to incentivise all traders to use MCDEX and accelerate overall product usage.
The period of the first epoch is from UTC 00:00 October 4th to 00:00 October 18th.
Total rewards in the first epoch: 95,000 MCB
The trading rewards will be distributed to traders based on the formula that rewards a combination of fees paid, open interest and staking score. MCB will be distributed on a 14-day epoch basis and is not subject to any vesting or lockups. The number of MCB of each epoch is determined by MCDEX DAO governance.
The function below is used to compute how much MCB is awarded to each trader during each epoch:
A trader can obtain the Staking Score by locking MCB in the staking smart contract. The lock time of staking is 100 days.
More info regarding Lock Time
If the trader stakes multi times, the remaining lock time is the weighted average value derived during each staking.
Supposing a trader has n staked MCB and the remaining lock time is t, if he stakes another m MCB, the remaining lock time t is updated as follows:
The initial value of T is 100 days, which can be changed by MCDEX DAO governance.
We will distribute the rewards on the fifth day after the previous epoch ends. The rewards of the first epoch will be distributed on Oct. 22nd.