MCB Token, Distribution, and ways to get MCB — By Jean Miao, Co-Founder of MCDEX
It’s been a very exciting two months for us and the community since we launched the platform.
Since I have received several questions about our governance and MCB distribution, I feel it’s necessary to talk about it.
Team: 22.75%, vested linearly for 4 years
Early Investors: 2.25%，vested linearly for 2 years
Foundation: 25%, the token sale will ONLY be used to cover the cost of MCDEX (excluding the founding team).
Check out the financial rules and status of Foundation here: https://github.com/mcdexio/foundation
User incentive: 50%, up to 5% per year, distributed in 10 years.
The user incentive is to reward MCB to stakeholders that contribute to the platform. For now, we have enabled the liquidity mining program — to reward liquidity providers with MCB. More will come with the evolvement of MCDE.
1) Governance — live
We successfully held one round of voting one week ago with a more than 20% voting rate. The team won’t participate in the proposals related to liquidity mining, which means that the rules of liquidity mining can be changed via governance voting. But for other proposals, for example, penalty fee as shown in the image, the team will vote since we know the mechanism and how to make it work.
Meanwhile, it’s important to fully discuss every topic before we move to the voting process, that’s why we have built a forum — https://forum.mcdex.io to discuss and share opinions. The forum has been quite active so far. That’s a good sign that we have a robust community.
2) Capture The Value Generated From MCDEX Platform — In progress
MCB holders will enjoy the profit generated from the platform (transaction fee). Unfortunately, right now due to the current high gas fee, the profit is negative. But we are continuously driving the progress and enhancing trading experiences. We hope the MCB holders can join us, shape the future together, and enjoy profits from MCDEX.
3) More to come
I think with the development of MCDEX, we can definitely find more utilities for MCB: collateral for AMM, etc. Many suggestions have been raised by the community which I think is interesting. So use your imagination.
Ways to get MCB
1) Liquidity mining
As of now, we only distribute MCB to liquidity miners apart from the team and early investors (which are vested). I encourage mining to get MCB. The logic is that I hope MCB holders are a group of people who understand what MCDEX is doing and can have a say to shape the future of MCDEX based on their thorough understanding of the project. Being a liquidity miner is one of the ways to learn more about our business. That’s why I encourage you to mine MCB.
As the founding team, what we can do is to continue delivering progress and results to provide value to users and the ecosystem. Whether to invest in MCB or not is one’s personal judgment. I cannot say that I recommend you to buy MCB. Do your own research and make your own calls.
As mentioned, the foundation will cover the cost of operations. We are running several fun programs to expand the influences of MCDEX, like the Ambassador Program, Memes competition, etc. We will reward excellent participants with MCB for their contribution to MCDEX. If you are interested and can add value in any of them, feel free to join.
That’s everything about MCB — designed to empower MCDEX. We are open to criticism, that will make us stronger. If you still have any questions/doubts, feel free to reach out to me on Telegram or Discord, I’m always available for our community.