Announcement on the optimization of the usage of lock-up incentives of the MDEX team in boardroom
Dear MDEX users,
To make MDX a deflationary token, lock-up incentives of the MDEX team in boardroom were destroyed regularly to date. A community proposal "Optimization of the usage of farming incentives of the MDEX team in boardroom" (proposal no. 211030001) initiated by community users passed the referendum. MDEX team executed this proposal after adjusting accordingly as follows according to DAO at 18:00 on November 3, 2021 (UTC+8):
The lock-up incentives (HECO) of the MDEX team accumulated to 4 million MDX for this round, of which 2 million were cross-chain to BSC to make sure 2 million MDX in the repurchased & burn pool on HECO and BSC separately. When the price of MDX is 10 times greater than that of xMDX, the fund is used to buy back and burn xMDX continuously which is not subject to 5m restrictions.
Nov 3 2021