The Maiar exchange and MEX token: Snapshots and Claiming
he MEX token is coming. This will be the native fuel and governance token of the Maiar exchange. Every EGLD holder will be able to claim this new token, and be part of the Maiar exchange ecosystem.
The distribution of MEX is a complex process, and we will detail all aspects below.
The short version is this:
The best action to get more MEX is to have EGLD staked
Weekly average EGLD staked & holdings considered based on daily snapshots
Daily random snapshots begin April 19
MEX is claimable in the first half of May
Here are the answers to the most important questions:
Who is eligible to claim MEX?
All Elrond addresses that stake or hold EGLD will be eligible to claim MEX. Exceptions to this rule apply to exchange addresses, and a few other cases mentioned below.
Eligible EGLD holdings:
• Staked as Validators (also queue) 1.5x
• Delegated to Staking Providers 1.5x
• Delegated in legacy Active Delegation 1.5x
• Delegation Legacy Waiting List 1.25x
• Held in Maiar w/ 5+ referrals 1.25x
• Held in Web Wallet, Ledger 1x
• Unbonding 1x
NOT eligible EGLD:
- EGLD on exchanges
- tokens managed by the Elrond Foundation: Protocol treasury
- tokens that are locked for vesting
- ERC20 & BEP20 EGLD
- old ERC20 ERD
Note for TrustWallet users: your EGLD balance is theoretically eligible, but the claim mechanism is not available via the TrustWallet app. The optimum strategy would be to move the EGLD to Maiar or a Web Wallet, and stake it for additional MEX.
What is a snapshot and how will it be done?
By “snapshot” we mean a record of all the available EGLD balances, in all the eligible Elrond addresses, at a specific point in time. Snapshots will occur on a daily basis, with one complete snapshot cycle average happening every week.
The first snapshot cycle will begin on Monday, April 19th, finalizing on Sunday, the 25th. The daily average EGLD holdings over this week will be considered for MEX distribution calculations.
The first snapshot cycle will bring the highest MEX reward, with several snapshots cycles done in the weeks that follow.
More detail, please check:
https://elrond.com/blog/maiar-exchange-mex-distribution/