MEXC allows you to earn profits by depositing your currency in DeFi. This feature is still relatively unknown, but it is a solid and profitable trade. Users use MX tokens or project tokens and receive tokens as a yield.
What is MX-DeFi?
MX-DeFi allows traders to use tokens to earn annual interest. To get token rewards, you must stake MX tokens or project tokens for at least one day. Select the tokens you want to stake and choose the ones you want to hold. However, the currencies that can be staked are limited. You can participate from the platform with the service provided while watching the price in the same way as spot trading. There are many risks, so be sure to protect your funds. You can also proceed while checking the products from the app.
liquidity mining
Liquidity mining usually lasts for 3 to 7 days. However, users can rest assured that they can unlock it at any time. Yield distribution will be T+1 units.
Stakeable currency
Current staking currencies are USDC, BTC, LOOKS, STETH, ETH, USDT and X2Y2.
Reward acquisition condition
In order to get the profit of the token, the token holding period must be at least 1 day or more.
daily yield
Daily Yield = (User’s Staking Volume / Total Staking Volume) * Yield Supply Volume for that day
What is DeFi?
DeFi is an abbreviation for Decentralized Finance. DeFi refers to decentralized (decentralized) financial services based on blockchain. Unlike existing financial services, it is attracting a lot of attention because it is set up as a system that allows users to conduct transactions directly with each other without going through an administrator such as a bank or company. Support is also sending out information right now on Instagram, community, news, and blog, so check it out now. You can invest in coins listed on global exchanges.
admin does not exist
DeFi has no administrators because it is not centralized. It is a mechanism that distributes and records information among multiple network participants instead of collecting and recording information on a single server.
Open Source
DeFi protocols are often open source. However, it is not a copy and paste, most of the changes are made differently from the original, and the system is such that the better projects survive.
no geographic restrictions
With DeFi, basically everyone can use the same services equally, regardless of nationality or place of residence, as long as they have an environment that allows them to connect to the internet. It’s not like a bank saying you can’t do anything unless you go to the place.
Available 24/7
Financial services have fixed business days and business hours, and you can only receive services within the set hours, but DeFi does not need the help of a third party to record transactions or transactions. , available 24 hours a day, 365 days a year.
Need virtual currency
DeFi, which is built on the blockchain, needs to be a cryptocurrency because it requires payment of network fees when making transactions. You must open an account on the virtual currency exchange in advance and purchase the virtual currency that can be used in DeFi in advance.
How to trade MX-DeFi
To start using MX-DeFi, you will first need to open an account. If you have not yet created an account, please refer to the article below. Explains how to set up and procedures. There are also many events such as kickstarter, so let’s try it out. The service has been improved and has received good reviews. Please check the terms of use from the menu before using.
Please log in after creating an account. Select “MX-DeFi” from “Activity” on the home screen.
Displays the currencies that can be staked. Choose your favorite currency.
Enter the amount to be staked and click Check to enable staking.
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