In a bid to foster a stronger community and incentivize its members, MasterDEX has recently announced its maiden airdrop, termed as the “First Loyalty Package”. This initiative is specifically tailored for the LCX Community, where the holders of LCX tokens are set to be rewarded with MDEX tokens. MDEX is poised to be the universal ecosystem utility token, central to MasterDEX’s operations. A total of 300 million MDEX will be minted at genesis and will become accessible over the course of 5 years. A substantial 51% of the total tokens, amounting to 153,000,000 MDEX (153 million MDEX), are allocated for the community. The First Loyalty Package comprises 17% of the total supply, translating to a whopping 51,000,000 MDEX tokens (51 million MDEX).
The eligibility for this exclusive Loyalty Package is simple yet precise. Holders of LCX tokens on or before 10th October 2023 are set to be the beneficiaries of this airdrop. The holding can be either in a non-custodial wallet or directly on the LCX platform, which is also facilitating the distribution of MDEX tokens to all eligible LCX token holders.
As per the announcement, the distribution of MDEX tokens is scheduled for 12th December 2023. On this date, the Community Allocation will be made available for claim, adhering to the vesting schedules applied to each allocation. MasterDEX is not only aiming at distributing the tokens but is also working towards a synchronized listing of MDEX on various centralized and decentralized exchanges on the distribution day itself. This move is in collaboration with multiple ecosystem partners and market makers to ensure a seamless listing on numerous trading venues immediately post-distribution.
The distribution process is to be conducted on-chain, where all eligible LCX token holders will receive MDEX tokens as rewards on a pro-rata basis, in line with the token economics.
Here’s a breakdown of how to be eligible and claim your MDEX tokens:
Eligibility: Hold LCX tokens on or before 10/10/2023 in a non-custodial wallet or on the LCX platform. It’s worth noting that at the moment, other centralized platforms like Coinbase and Kraken do not support this Airdrop, although discussions are underway to garner their support.
Claiming MDEX Tokens:
- For LCX token holders on the LCX platform: Come 12/12/2023, MDEX tokens will automatically appear in your main wallet, requiring no further actions from your end.
- For LCX token holders at Non-Custodial Wallets: Users are required to visit the claim page at MasterDEX.xyz on or after 12/12/2023 to receive their MDEX tokens on-chain, pro-rata in accordance with the token economics.
To avoid any scams or phishing attempts, holders are urged to ensure they are connecting their wallets only to https://masterdex.xyz/ and to stay vigilant against any clones or fake websites.
Furthermore, MasterDEX has developed an MDEX airdrop calculator to provide a clear picture of 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. Details about the Airdrop are published here.
This airdrop signifies MasterDEX’s commitment to building a robust community and rewarding the early supporters and believers of the LCX and MasterDEX ecosystem. With the upcoming distribution and listing of MDEX tokens, MasterDEX is surely setting a strong foundation for its future endeavors in the DeFi space