The Mandala team has listened to our community feedback. While our current token utility creates a super competitive advantage against other exchanges, it only really benefits a niche group of traders.
But what about the little guys, or the hodlers? Well, we listened and after many brainstorming sessions we found a solution that benefits all of our token hodlers.
We are pleased to introduce an entirely new MDX utility that we think you all will really enjoy.
Introducing Mandala Madness.
We listened and after many brainstorming sessions we found a solution that benefits all of our token hodlers. If you’ve been paying attention you may have seen us bragging about our volumes exponential growth over the last few months. “So what?”, you may be thinking…but what if we told you we want to share some of those profits with you?!
Along with our new trading fee rebate tier restructuring that you will see coming out shortly, we will be giving back some of those fees to the community in the form of a Lottery.
The new Mandala Madness prize pool uses a percentage of trading fees accrued from the exchange to generate yield for prizes that will be drawn from every month.
Meaning, instead of these trading fees going directly to the exchange, that yield will go directly into the pot for one big reward for three lucky Mandalarians to take home. Plus, the beauty of it is that the prize pool continuously grows with increased volume on the exchange.
With the integration of our algo trading bots and some additional added utility coming to MDX, you will quickly see how these prize pools can stack up into the tens of thousands of dollars!
How do I enter?
To enter Mandala Madness, all you have to do is a lock a minimum of 1,000 MDX (Our Level 1). For every 1,000 MDX you lock, you get an entry.
10,000 MDX Locked = 10 Entries
1,000,000 MDX Locked = 1,000 Entries
There is no limit on entries. Tokens locked on the exchange as of December 31st, 2021 are now being tracked for Mandala Madness. If you've already locked your tokens, make sure to relock them on the date of your expiry to be entered into the draw. Everyone will be able to relock their tokens prior to the first draw being completed. You will be required to relock your tokens each time they expire to be entered into each months draw.
What are my chances to win?
Size doesn’t matter…or does it? Your chances to win are directly proportional to the amount of MDX you have locked. Your MDX level or tier is equivalent to the number of entries you will have with each drawing. The more MDX you stack, the better chance you have at winning the Mandala Madness Pool!
How do I know if I win?
The tokens are automatically transferred to the winners wallet upon random selection!
What will my prize be distributed in?
Take your pick! MDX or USDT, the choice is yours... But hey, you might want to start staking…I mean stacking your MDX with the additional added utility we plan to implement ;)
How big will the prize pools be?
Let us break it down for you all.
At 10M Volume a Day
$10mil volume a day x 30 = $300mil/month
Lottery Pool = 0.005% of total volume
0.005% of $300mil = $15,000
At 100M Volume a Day
$100M volume a day x 30 = $3B/month
Lottery Pool = 0.005% of total volume
0.005% of $3B = $150,000
We are incredibly excited to bring you guys the first ever exchange trading fee share lottery. In the coming weeks we will add a page to our website where you will be able to track the total prize pool as it accumulates, daily.
So, what are you waiting for?! Go lock those tokens… we might even take a snapshot of locked token holders for our first prize sooner than you might think :)
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Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Mandala Exchange will make best efforts to choose high-quality coins but will not be responsible for your trading losses.