How did it work?
This is an explanation on how MAXX will deploy
Last updated
This is an explanation on how MAXX will deploy
Last updated
The Amplifier phase for MAXX Finance, lasted 40 days, successfully provided an safe token distribution, safeguarding against whale manipulation. Each day during this phase, participants had the opportunity to claim a share of the 20 billion tokens. The daily allocation of $MAXX varied, influenced by the number of deposits and participants. Users could observe the current day's allocation and the amount of MATIC deposited, deciding when to contribute their MATIC to reserve a share. The exact amount of $MAXX reserved was revealed only at day's end, creating a gamified experience as users strategized on when to contribute to maximize their allocation.
Following the completion of the 40-day Liquidity Amplifier period, there was a brief pause of 2 to 3 days. After this intermission, MAXX Finance launched the token on the mainnet and deployed liquidity to a QuickSwap DEX. Subsequently, users were able to access the portal to claim all their reserved tokens, which they then had the option to stake or trade on the market
This is a very basic example of how the distribution works, before accounting for any referral or NFT Bonuses used. Let's say there are 1,000,000 MAXX tokens available for each of the first few days.
If a total of 10,000 MATIC is deposited into the contract on day 1, users will get 100 $MAXX Tokens for each 1 MATIC they deposited.
(1,000,000 MAXX / 10,000 MATIC = 100 MAXX per MATIC)
If a total of 12,000 MATIC is deposited into the contract on day 2, users will get 83.33 $MAXX Tokens for each 1 MATIC they deposited.
(1,000,000 MAXX / 12,000 MATIC = 83.33 MAXX per MATIC)
The same continues for the rest of the 40 days. Some days may see a low amount of MATIC deposited, meaning people entering on those days are going to get a better price. Other days may be 'oversold', meaning people get slightly less MAXX per MATIC.
At the end of this phase, users will have the ability to claim the reservations they made and then start interacting with the main staking contract.
These examples show how the Amplifier will really distribute tokens, accounting for referral bonuses.
We will use what we call 'Effective Matic' to measure exactly how much each user should get. This is the amount of Matic they deposited, plus any bonuses. Let's say there are 1,000,000 MAXX tokens available on Day 1.
If a total of 10,000 MATIC is deposited into the contract on this day, but some users use a referral code, they will be getting a 10% boost on their 'Effective MATIC'. For simplicity, let's say that only 5 people enter:
Users 1, 2 & 3 all deposit 2,000 MATIC. Their Effective Matic is 2,000. Users 4 & 5 both deposit 2,000 MATIC, but use a referral link from User X, gaining a 10% boost. Their Effective Matic is 2,200. User X gets a 5% referral bonus from both User 4 & 5, giving him 200 Effective Matic
There is a total of 10,600 'Effective Matic' which is used to calculate how much people get.
(1,000,000 MAXX / 10,600 EffectiveMATIC =94.3396226 MAXX per MATIC)
Users 1, 2 & 3 all get 188,679.245 MAXX for their 2,000 MATIC Deposits. Users 4 & 5 both get 207,547.17 MAXX for their 2,000 MATIC Deposit plus bonus for using a referral. Users X gets 18,867.92 MAXX as his referral bonus.
The total distributed for that day is still 1,000,000 MAXX.
