How to Gain Return from DeFi Projects under the ‘MXC Effect’
On August 19, within one day, 5 of MXC Global projects have been listed by the three major exchanges. Binance listed Terra (LUNA), OKEx listed Kleros (PNK), COMP (Compound), SNX (Synthetix) and LEND (Aave). Then, affected by this, LUNA, PNK, COMP, LEND immediately rose 26.8%, 45.6%, 20.4%, 17.6%.
Almost all of the projects firstly listed by MXC Exchange have skyrocketed, and after the surge, they have been listed by the three major exchanges. Thus, the circulation makes ‘MXC effect’ intensified.
LUNA, PNK, COMP, SNX, LEND were listed on either innovation board or assessment board on August 12, July 3, June 15, June 30, and July 4, respectively. Compared to the opening price, LUNA, PNK, COMP, SNX and LEND have skyrocketed 2.19, 14, 166.7, 8.21 and 8.98 times respectively.
As of August 19, during this ‘MXC effect’, 18 projects firstly listed by MXC Global have then also been listed on Huobi, Binance and OKEx.
MXC Exchange trading data show that apart from COMP which has surged for 166 times, other projects all have achieved 3–48 times high return before being listed by the three major exchanges. Among them, the highest return of NEST is 48 times, BAL is 14.6 times, and DEXT is 37.5 times.
‘Not making money is worse than losing money.’ ‘MXC effect’ leads to a kind of FOMO feeling. How to gain return from DeFi projects under the ‘MXC effect’?
First, to have a thorough understanding of the trading platform, such as the meaning of each board. Second, to pay attention to the announcements. Third, to operate DeFi DEX.
For the crypto exchange of MXC Global, apart from mainstream cryptocurrencies boards, it also has an assessment board and an innovation board. The innovative projects with potentials are listed on these two boards, and that is where the ‘wealth’ lies.
The projects require a certain amount of deposits to be qualified for the assessment board.
So, we can regularly log in MXC official website and search the key term ‘deposit for listing’ to know in advance what projects may be listed.
For example, BarterTrade (BART), DeFis Network (DFS), Numerai (NMR), Lamden (TAU) have been listed after users’ deposits. Compared to the opening price, the highest increase amount reached 2.85 times, 4.71 times, 2.46 times, 4.72 times, respectively.
Users who deposit have a certain quota, which can be bought through DEX and the price would normally be lower than the opening price of the secondary market.
Taking TAU as an example, before MXC Global puts it into the ‘deposit for free listing’ activity, we can buy some ETH, then transfer it to DEX (preferably DEX aggregator, because most aggregators can cater most DeFi project trade) and buy TAU in advance. Deposit TAU when it is in the MXC Global deposit campaign. Lastly, just wait for its listing.
On August 17, TAU was listed on the assessment board with the opening price of 0.036 USDT. Then, it immediately increased to 0.129 USDT, which jumped 3.58 times. You would earn return without effort if you had deposit TAU in advance.
So, if you want to obtain a return, you have to pay close attention to the latest information on the trading platform, as well as the rules of each board. Also, to observe which projects have potential in the DeFi market.
Most importantly, the increasing amount after being listed on the assessment board is not the final one. If the numbers of traders or comprehensive performance is outstanding, the project can be transferred to the innovation board.
And this is time to locate other good projects on these two boards based on their own understanding. Interestingly, most of the projects listed by MXC Global have achieved more than expected gains, including the ChainX (PCX), Kusama (KSM), and Edgeware (EDG), which were listed in 2019.
The market may rise affected by the break out of DeFi projects. DeFi and Polkadot projects all increased on the day of listing by MXC Global, followed by a greater increase amount in the following days.
When we are seeking and waiting for cryptos with potential, the exchange actually has done the market research as the exchange emphasizes on the project’s long-term value. The exchange has filtered low-quality projects for users. That’s why the projects firstly listed on MXC Global were also listed by three major exchanges later.