Announcement of Community referendum on Community proposal on MDEX

A total of 51 proposals have been raised up by the community since the launch of the community proposal function on September 25, among which, community proposals such as "Plan of Cross-chain to ETH chain" and "order book function" are supported by no less than 5 directors and will be show in the proposal referendum section on the DAO interface after the start of the first referendum at 21:00 (UTC+8) on September 27th, 2021 and will last for three days. By then, community users can vote on the proposals they support.

MDEX strives to make the best decision for the development of MDEX ecology through the power of the community. The proposal of "Plan of Cross-chain to ETH chain" has always been a strong demand of community users. The contents of the proposal of "Plan of Cross-chain to ETH chain" are published as follows:

“Plan of Cross-chain to ETH chain: MDX are migrated to ETH chain in the form of IMO in a 2:1 ratio and there will be making 150 million mdx on ETH. IMO participants will receive half of the MDX (for instance, a user who has 10,000 MDX will obtain 5,000 MDX after the migration). The 75 million MDX will be locked and unlocked within 10 months with 10% for every month.

The rest 75 million tokens will be used to reward miners. If the current block maintains its output rate, 75 million mdx will be enough to support the mining pool. Otherwise the MDEX team will inject tokens to make it 75 million. Once the plan is implemented, the total amount of MDX on ETH chain is 150 million and the number of MDX burnt on HECO and BSC should be 150 million too which may push the price to soar.”

MDEX Team

Sep 27 2021