Announcement on destruction of MDEX team lock-up rewards and the schedule of DAO launching
The boardroom lock-up function has been recognized and supported by communities since the first date it launched. Thank you so much for your trust and company! In order to reduce the circulation of MDX in market, the MDEX teams decided to destroy all the rewards locked in the boardroom with an interval of 365 days on a regular basis for MDEX teams themselves. In the future, new products will focus on creating added value and reduction the circulation of MDX.
The first destruction time is scheduled on 4th Aug 2021 and 2363991 MDX will be destroyed with a value of about 2.75 million USDT. The destruction hash address is as follows: https://hecoinfo.com/tx/0xa42c33e9ad684ddb1cc7ef34cd138fa7eab0bde450ae1dcd2e31fe6562c8ff2e The subsequence destructions of rewards for the previous month are scheduled on the first day of coming month.
In order to more effectively implement the plans on the Q3 roadmap, MDEX team intends to implement the DAO governance within 3 months to give MDX holders the governance authority of the platform. By then, issues such as the destruction of team rewards after unlocking, the proportion and usage of income distribution, the form of buyback & destruction and the adjustment of tokenomics will be decided by DAO.
August 4, 2021