Proposal 5: Let MCB holders have higher mining efficiency

The farmers holding MCB or providing Uniswap MCB/ETH liquidity will have a higher mining efficiency

  1. Every liquidity farmers have a mining effective factor of 1 initially.
  2. If the farmer holds MCB directly in the wallet or indirectly in MCB/ETH pool, his mining effective increases linearly. The maximum mining effective is 3 (M)
  3. To achieve the maximum mining effective factor, the farmer needs to hold 102,500 (N) blocks (the same time as this round) mining rewards.

Assuming the farmer could mine T MCBs every block if every farmer holds no MCB. The mining effective factor F is as follows if he holds X MCBs (we can convert the MCB/ETH pool share into some relevant MCB).

F= 1 + Min(\frac{X}{ T * N},1)* (M-1)

And the real mining reward R is:

R = F*T

And F in this round is:

F= 1 + Min(\frac{X}{T*102,500}, 1) * 2

This feature costs time to implement. If the proposal is approved, this feature may not ready at the beginning of the round ZHOU and the team will add this feature ASAP.

Vote Quorum: 10,000 MCB.

The team and foundation will abstain from voting on this proposal.

Please vote at:
https://vote.mcdex.io/mainnet/proposal/4

1 Like

I know voting is closed, but I want to say this is actually a cheap and efficient solution to incentivise holding MCB.

I am also interested to hear how this will be implemented, in terms of snapshot frequency.

The liquidity mining program watches the state of the block chain at every block and calculates the mining reward for every liquidity providers.

If my math works out correct, this incentive will correlate higher LP pool share with higher MCB held to ensure maximum mining efficiency.

I like this idea even more then, because whales will want to keep a portion of MCB for maintaining efficiency or risk a smaller LP with 300% efficiency out-earn them.

@jie - is this roughly correct?

yes, I think you are right

I think it’s a good solution too. Now that the vote is passed, when would you expect it to be implemented? Also what will be the formula to account for MCB in the unipool?

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It is alreadly online in the ZHOU round. The MCB in the Uniswap pool is also accounted.