MXC and PancakeSwap to Roll Out Joint Mining Venture
SINGAPORE, June 04, 2021 (GLOBE NEWSWIRE) — At 9 AM (UTC) on June 4, 2021, MXC, a crypto-focused exchange, will start mining activities with PancakeSwap, the leading DEX on Binance Smart Chain (BSC).
Anyone is welcome to participate in providing liquidity for the MX/BUSD trading pair on PancakeSwap to yield farm CAKE in what is yet another massive stride for MX use case expansion.
PancakeSwap’s FARM will offer a new Syrup Pool from MXC exchange by adding MX/BUSD LP mining CAKE, which can provide MX/BUSD liquidity to mine CAKE. At the same time, CAKE single currency mining MX will be added to PancakeSwap’s POOL.
CAKE holders can stake their tokens to earn MX with a token reward per block of 0.27777 MX. The specific output quantity of each block is subject to the official website activity page. The Syrup Pool will distribute a total of 480,000 MX over 60 days and finalize at approximately 9 AM UTC on August 3.
How the Process Works
As an MX holder, one can earn CAKE by providing liquidity for the MX/BUSD pair on PancakeSwap.
To get started, visit the PancakeSwap POOL and click “Add” to add liquidity for the MX/BUSD pair. Thereafter, input “BUSD” for the first column and “MX” for the second one as shown in the chart below. Finally, the user should unlock their wallet and confirm the transaction.
To host the MX Syrup Pool, PancakeSwap DEX will need to provide an MX/BUSD farm that offers 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that. This strategy will allow as many CAKE holders to Farm some lucrative pool rewards up to 120% APY.
The DEX will have a 100 CAKE token cap staking limit per wallet for the first 48 hours, followed by unlimited CAKE staking.
Harvest MX and Trade on PancakeSwap!
PancakeSwap is the largest DEX on BSC for swapping BEP-20 tokens. The decentralized exchange tap uses an automated market maker (AMM) that enables users to trade digital assets on the platform.
PancakeSwap’s move to welcome MXC exchange to its platform will facilitate BEP-20 MX to circulate and be transferable on BSC when the Syrup pool launches. Interested participants will soon be able to harvest their MX tokens and trade on PancakeSwap at any time!
About MXC Exchange
MXC is a centralized crypto exchange registered in Seychelles that seeks to provide digital assets enthusiasts globally with secured, fast, and user-friendly crypto trading services.
The exchange was established in April 2018 by a team of blockchain industry practitioners and specialists from Wall Street, Asia, and Europe with vast experience in the FinTech and blockchain sectors.
MXC currently offers over 800 trading pairs and services across 200 countries. Besides focusing on providing safer, smarter, and more convenient crypto exchange services, MXC also brings its users safety insurance and selected blockchain assets.
The trading platform remains dedicated to building an industry-leading exchange that offers its loyal customers the best cryptocurrency offerings.
The exchange reminds its users not to trust any projects in the name of being listed or invested by MXC. All investors are advised to refer to the official announcement of MXC Exchange: https://support.mxc-exchange.com/hc/en-001.
MXC is a top one-stop-shop for crypto exchange services, as clearly seen from its features and statistics. The platform interacts with its community via Twitter, Facebook, Telegram, Instagram, and several other channels. You can visit these pages for further information on the platform.