Announcement on unlocking of assets before maturity for time deposit in boardroom
Dear MDEXers,
Many users have staked their MDX to mine MDX in boardroom in the form of a current deposit or time deposit with a lockup period of 30 days, 90 days, 180 days or 365 days since MDEX started the long-term lock-up plan on July 19th 2021.
A proposal "allow unlocking before due" (proposal no. 211207001) was initiated and passed the referendum thru DAO on 10th Dec 2021 after the APY dropped drastically with adjustment of transaction fee structure. According to DAO, MDEX team executed this proposal. The details are as follows:
Assets under time deposit with a lockup period of 30 days, 90 days, 180 days or 365 days can be unlocked after the maturity as scheduled (shown below) or anytime before maturity providing the number of xMDX users provided to unlock is 1.5 times to the number he needs to unlock after maturity.
Lockup Interval | Weight Coefficient |
|---|---|
30 days | 1.3 |
90 days | 1.9 |
180 days | 3.25 |
365 days | 6.475 |
For example, Bob locked 1000 MDX for 365 days. according to previous rules, the number of xMDX he needs to unlock MDX after maturity is 1000 * 6.475 = 6475. Thus, according to new proposal, the number of xMDX he needs to unlock MDX remains 1000 * 6.475 = 6475 after maturity, while increase to 1000 * 6.475 * 1.5 = 9712.5 anytime before maturity.
MDEX Team
13 Dec 2021