To celebrate the successful completion of the Cancun upgrade, MYX launched the 0-fee airdrop event "Cambrian Explosion". The event will be held from 7:00 UTC on March 15 to 13:00 UTC on April 1. During the event, users can enjoy a limited-time 0-fee privilege when trading on the main network. In addition, all transaction fees paid by users (excluding execution fees and GAS fees) from the launch of the MYX main network to the launch of this "Cambrian Explosion" will be fully refunded during the event.
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That is to say, currently, MYX has launched a 0-fee trading activity. The main cost of trading is execution fee and gas. With the upgrade of Cancun, gas and execution are greatly reduced by about 80%, basically 0 cost. MYX Cambrian plans to issue 2,000w tokens in 28 days, with an average daily issuance of 72W, calculated based on the use of 1WU principal and 20X leverage
â The transaction amount of the opening order can be 200,000, and GEM can be obtained by completing the opening order.
â Close the transaction and get another 200,000U, and get 20,000GEM.
â This opening and closing operation can earn a total of 40,000 points.
â Based on a daily transaction volume of 50 million, a total of 140 million GEM will be issued; 1 GEM = 0.14 MYX. â 40,000 GEM can be exchanged for 5,600 MYX.
â Based on FDV of 500 million, the estimated single currency is 0.5U; 5600*0.5U=2800U.
â The cost of GAS fee and execution fee is around 1.1U, and the expected rate of return is thousands of times, which is basically 0 cost, so start now!
The following is an introduction to the MYX airdrop plan: TL;DR
MYX has officially launched an airdrop incentive plan with a total of 200,000,000 tokens, codenamed: Origin. The plan will distribute 20% of the total tokens to community members and supporters through multiple rounds of incentive activities. MYX was designed to provide the trading community with a better trading experience by improving capital efficiency. The community is the root of everything at MYX. Therefore, in order to thank early community supporters and to achieve rapid development of the trading ecosystem, MYX has launched the "Origin Plan."
The first phase of the âOrigin Planâ event, âCambrianâ, was launched at 13:00 UTC on March 4 and will last for 28 days. A total of 20,000,000 MYX tokens will be distributed to community users through retroactive airdrops from BMYX and Shells and incentive airdrops from MYX mainnet products. The specific rules are as follows:
Mainnet product 20 million MYX incentive airdrop
During the event, MYX will calculate GEM rewards based on each transaction and LP position of the user on the mainnet product, and settle the MYX airdrop amount based on the number of GEM held by the user on the settlement date. The detailed rules are as follows:
1. Transaction Incentives
MYX will settle GEM in real time in a tiered manner based on the user's cumulative transaction amount during the event. The specific calculation method is shown in the following table:
2. LP Incentives
MYX will settle GEM daily based on the user's average daily LP holdings during the event. The specific calculation method is as follows:
â Users can participate in this event regardless of whether they hold MLP of the BTC trading pair or the ETH trading pair; â Based on the average daily sum of MLP holdings of each trading pair, 1GEM can be obtained for every 10mlp, and settlement is made daily.
3. Fleet Rewards
MYX welcomes KOLs to form their own fleets to gain more benefits, which will increase as the fleet level increases. Team members who join the fleet will also receive an additional 12% settlement bonus, as shown in the following table:
The fleet's operating rules are as follows:
â Fleet captains can apply for registration by clicking on the official link;
â The maximum number of people in a fleet is 50, and each address can only join one fleet;
â Any non-fleet captain user can sign up to join a fleet by submitting their address to the fleet captain. After joining a fleet, they cannot leave the current fleet;
â Fleet level is determined by the highest level of total transaction volume and total LP pledge;
â The fleet captainâs Gem rewards will be distributed in one lump sum on the event settlement day.
4. Coefficient addition rules
â Preheating incentive: From February 27 to March 2, completing a daily transaction volume of 10,000 USDC or holding 10,000 MLP can be regarded as signing in. After signing in for 3 days in total, you can get an additional 10% GEM settlement bonus during the official event.
â BMYX holders: Users who are eligible for BMYX airdrop will receive a 20% GEM settlement bonus at the end of the event.
â Shell bonus: Users who are eligible for testnet Shell airdrops will receive a 15% GEM settlement bonus at the end of the event.
â Fleet bonus: After joining a fleet, fleet members can also enjoy a GEM bonus based on the fleet's activity. Users who join a fleet can get an additional 12% GEM settlement bonus.
â All the above bonuses can be superimposed. After the official event starts, you can view your real-time coefficient on the event page.
5. Settlement Rules
The decentralized derivatives protocol MYX is about to airdrop 20% of the total tokens in phases, which not only gives back to early supporters, but also provides active community members with the opportunity to obtain token rewards. Through this series of innovative incentives and acceleration mechanisms, MYX aims to deepen the participation of community members while promoting the development and prosperity of its ecosystem. We look forward to the active response of community members and jointly promote the MYX protocol to a new milestone.
MYX is a decentralized perpetual contract exchange that uses the original MPM mechanism to achieve 0 slippage transactions and efficiently match long and short positions, making capital efficiency up to 125 times, and is committed to breaking through the bottleneck of on-chain capital efficiency. Previously, MYX had obtained US$5 million in early financing, led by HongShan (formerly Sequoia China), with participation from Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures and others.
For more information, please visit: https://linktr.ee/myxfinance
