Announcement on upgrade of the repurchase and burn mechanism

Dear MDEX users,

MDEX achieved a closed loop for its ecological value through the repurchase and burn by handle fees. A proposal states "change the repurchase and burn mechanism" (proposal number: 211017001) initiated by community users passed the referendum recently. MDEX team will execute this proposal according to DAO

The proposal is adjusted accordingly as following:

  1. When the price ratio of MDX to xMDX ≥10, XMDX will be repurchased and burned.

  2. When the price ratio of MDX to xMDX <10, MDX will be repurchased and burned.

Trigger conditions remain unchanged. That is, when the repurchase price (the average price of MDX in the passed 72 hours) is triggered, the smart contract will automatically execute the "repurchase and burn" command. Otherwise, transaction fees will continue to accumulate in the repurchase pool.

MDEX Team

Oct 25 2021

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