Dear xExchange Team,
We, the loyal members of the MultiversX and xExchange community, reach out to you with respect and hope. Since the platform’s inception, we have believed in your vision to build an innovative and accessible DeFi ecosystem. We have supported the project, invested in MEX, and actively participated in its growth through staking, liquidity provision, and governance on the Agora. However, we cannot ignore the painful reality: MEX’s value has plummeted by nearly 99%, leaving our community wounded and disheartened.
Despite this ordeal, we have remained steadfast. We continue to believe in MultiversX’s technology, xExchange’s efficiency, and the promise of the energy system that rewards our long-term commitment. Yet, we also observe a decline in momentum and enthusiasm around MEX. We believe a bold initiative could reignite interest and breathe new life into our ecosystem.
This is why we propose launching an energy-based trading competition. Such an initiative could not only boost activity on xExchange but also reward the most engaged users and attract new participants. Here’s a suggested framework for its implementation:
- Objective: Encourage active trading, energy accumulation through XMEX, and participation in governance to energize the ecosystem.
- Mechanism:
- Participants would be ranked based on their generated energy (via XMEX locking) combined with their trading volume on xExchange.
- Monthly leagues could be established, with rewards (in EGLD, locked XMEX, or exclusive xLaunchpad/NFT access) for top traders in each league.
- A boosted period could be introduced, where actions like adding liquidity or converting LKMEX to XMEX generate a temporary energy multiplier.
- Rewards: Attractive prizes, such as a higher share of trading fees, allocations in xLaunchpad projects, or collaborations with partners (e.g., xPortal Mastercard).
- Visibility: Promote the competition through the Agora, x.com, and official channels to mobilize the community and attract new users.
We believe such a competition could:
- Revive interest in MEX by incentivizing users to engage with the platform.
- Reward loyalty for those who have continued to lock their tokens despite challenges.
- Attract new users, showcasing xExchange as a vibrant and innovative ecosystem.
We understand that the current situation with MEX is complex, influenced by market dynamics and external challenges. However, our community remains united in its desire to see xExchange thrive. We humbly ask you to consider our proposal as a way to restore hope and energy to those who have believed in you from the start.
With all our support and trust,
The loyal xExchange community
