In a landmark move, MasterDEX has unveiled its much-anticipated “First Loyalty Package”, marking its inaugural airdrop designed to foster community cohesion and reward its dedicated members. This program is meticulously tailored for the LCX Community, with holders of LCX tokens being on the receiving end of $MDEX tokens. $MDEX is destined to serve as the quintessential ecosystem utility token, pivotal to the operations of MasterDEX. An initial minting of 300 million $MDEX is set at genesis, with a structured release over a 5-year timeline. A notable 51% of the total tokens, translating to 153,000,000 $MDEX (153 million $MDEX), are allocated for the community’s benefit. The First Loyalty Package is allocated 17% of the total supply, amounting to a substantial 51,000,000 $MDEX tokens (51 million $MDEX).
The eligibility criteria for this exclusive Loyalty Package are clear and concise. LCX token holders, as of 10th October 2023, are earmarked to benefit from this airdrop. The holdings can be in a non-custodial wallet or directly on the LCX platform, which is also spearheading the distribution of $MDEX tokens to all eligible LCX token holders.
As per the official announcement, the distribution of $MDEX tokens is slated for 12th December 2023. On this milestone date, the Community Allocation will be available for claim, in line with the vesting schedules attributed to each allocation. MasterDEX’s ambition transcends mere distribution; it is eyeing a synchronized listing of $MDEX on a variety of centralized and decentralized exchanges on the distribution day. This initiative is in concert with several ecosystem partners and market makers to ensure a seamless listing on multiple trading venues immediately following the distribution.
The distribution mechanism is orchestrated to be conducted on-chain, wherein all eligible LCX token holders will receive $MDEX tokens as rewards on a pro-rata basis, in harmony with the token economics.
Here’s a delineation of how to qualify and claim your $MDEX tokens:
- Eligibility: Retain LCX tokens on or before 10/10/2023 in a non-custodial wallet or on the LCX platform. It’s crucial to note that currently, other centralized platforms like Coinbase and Kraken are not supporting this Airdrop, although dialogues are ongoing to secure their support.
- Claiming $MDEX Tokens:
- For LCX token holders on the LCX platform: On 12/12/2023, $MDEX tokens will automatically materialize in your main wallet, with no further actions required.
- For LCX token holders at Non-Custodial Wallets: Users are necessitated to visit the claim page at MasterDEX.xyz on or after 12/12/2023 to receive their $MDEX tokens on-chain, pro-rata in alignment with the token economics.
To mitigate the risk of scams or phishing endeavors, holders are urged to ensure they are connecting their wallets exclusively to https://masterdex.xyz/ and to remain vigilant against any fraudulent or cloned websites.
Additionally, MasterDEX has engineered an $MDEX airdrop calculator to illuminate the amount of $MDEX tokens one would receive. For instance, holding 0.1% of LCX tokens (950,000 LCX) would entitle you to 51,000 $MDEX. Further details about the Airdrop are expounded here.
This airdrop exemplifies MasterDEX’s unwavering commitment to cultivating a robust community and reciprocating the early supporters and believers of the LCX and MasterDEX ecosystem. With the imminent distribution and listing of $MDEX tokens, MasterDEX is decisively laying down a robust groundwork for its forthcoming ventures in the DeFi landscape.
As a writer, Johnny is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.