XMEX Transferable, or Rewards paid in MEX

This I think is the appropriate place to talk about this topic.

In the last time MEX has gone in a direction that many people did not like, including me.
I was much happier when I could trade LKMEX or use it to do operations, NFT etc.

Reflecting these days, I think giving users the ability to use XMEX as a transferable token increases more usage, adoption and helps to add value to this token.

I have 2 proposals:
1 - Make XMEX transferable, so that the tokens will run, and make it have more use-case.
2 - Pay every reward from farms in unlocked MEX. Sure we will take less, but we are not forced to have tokens locked for years.

These two proposals can be taken together or separately, either way I think either or both can only bring happiness within the community.

You’re more expert than me, so i would like to understand what’s your opinion on this.

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the goal of xMex and its energy is not there,

for this you can farm XMEX and unlock it for 80% fees and it will come back to the same.

50% APR becomes 10% by being unlocked

Everyone can uses their own farming strategy but the goal of MEX is growth and there is no better way than to block tokens for 4y and increase the burn rate for every unlocking for a constant growth

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I think that putting xmex transferable will totally kill he’s huge utility

Mex is built to bring adoption and liquidity on the dex we dont want the most part of the liquidity being moved none stop

We want it to stay on the dex to manage many defi tools behind it

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I think we should allow users providing liquidity to choose between locked or unlocked rewards.

If locked rewards are chosen, users would receive the normal fully locked XMEX over 4 years. However, if unlocked rewards are chosen, users would automatically receive the unlocked portion, subject to the 80% tax (burn and token redistribution).

Choosing unlocked rewards, even if they are not locked, should contribute to a beneficial outcome for XMEX holders through burn and token redistribution.

Even though users can manually unlock their rewards later, I believe that due to psychological bias, the average or new user might assume that rewards are always locked for a 4-year period and may hesitate to provide liquidity.

What are your thoughts on this?

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Very interesting point @nlaronch !

From the discussion, it seems clear that not everybody seems aware they can unlock their XMEX rewards after receiving them.

We should either better communicate that XMEX can be unlocked or give the option to claim rewards and unlock at the same time. And show the APR with unlocked rewards.

What do you guys think?

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Very interesting idea based on psychological point. Glad I’ve raised this discussion.

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Yeah, for sure better communication will help. But also the option to claim the rewards unlocked and show the APR with unlocked rewards can make the difference, not only for new people but also for existing one.

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Hi Lucas,

Yes it actually greatly fit in the simplification process of the revamping of xExchange,

Users do not understand that they can actually get unlocked rewards with the actual interface, even myself as i saw the 80% loss on liberating xMex i feel biased towards not liberating it,

Simplifying the process and permitting people to choose unlocked rewards without having to click onto their xMex unlocking, choosing the amount, etc … would greatly simplify the process.

In the end it would just came back as xExchange V1 but with the redistribution process going to the xMex holders in the background.

Way fairer and better to understand.

Concerning the issue raised by bnistor4 for moving xMex, you can already do it but with the unbonding period of 30 days it’s kinda also unrealistic to be efficient in the long term.

Falicitating the transactions between holders farmers traders should be the way to go.

Good day to all.

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Yes it will be better,

maybe some will see the can unlock and they will unlock them every day or week to increase the weekly rewards of strong holders and increase the burn rate of MEX at the same time.

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@angie44120 Fair point! Great discussion raised :pray: Please feel free anybody to add your thoughts here.

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I will be honest, I no longer have any idea why xMEX was made nontransferable.
Being able to transfer it 30 days late is something that can be done sure, but it has so little application this thing that I have NEVER in months and months taken advantage of it.

So at the end of the day I just know that it can’t be transferred and that’s it. I learned this information and I live with it.

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@bnistor4 XMEX was made slow-transferable to prevent selling and marketplaces.

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Dear Icswillems,

So, here is my question;

Why would anyone hold xMex? We lock it for energy(for rewards and governance power) but we only had 1 or 2 vote on the dex. We can’t transfer it, we can’t sell it. We just have small metabonding rewards and there are no new projects to receive rewards from it recently. I mean, nothing to create a new hype.

Unlocking rewards is not a good idea, I love the idea of receiving locked tokens to keep serious investors. There must be a flow or an action on the currency for investors to see the glow in it. I mean its price just moves together with EGLD, I would just buy EGLD (because it is the real core of everything) and sit on my back.

What utilities will be added to xMex and where will it be ? Beni was saying it was very important for MultiversX but recently I didn’t hear any update for it and no sign of moving it closer to the center of the ecosystem. Will it be listed at another dex/cex, will there be any new utility?

Please don’t take my complains as harsh because I’m a strong believer to the ecosystem and I only invest here. I love your vision and follow every project you’re working on.

Just want to learn more, see the vision in it and of course as a strong believer and investor, want to get rewarded at the end.

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Hi @tanashuky !

First, welcome on the Agora :partying_face:

Regarding the utility of MEX:

  • Boosted APRs
  • Metabonding rewards
  • EGLD-MEX farm
  • xLaunchpad elligibility
  • Governance (a vote will come)
  • Trading fees
  • Energy removal fees

Depending on how you use the exchange (e.g. if you provide liquidity or not), you might benefit more from some utility than others.

Also, we are actively working on improving xExchange with the upcoming xExchange v3 and we are also working on improving many other aspects in parallel (e.g. the Metabonding program).

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Hello Lucas!

Congrats for all the amazing work you are doing.

Regarding the topic of receiving locked XMEX I think that first of all people are indeed not aware of the possibility to unlock it. Besides that, the most important thing that must be taken into account is that the overwhelming majority of people do not understand delayed gratification and actually have a mental bias against it. Moreover for most people the idea of “losing” 80% of their tokens to get the 20% they can use now, is most likely another powerful negative bias. No matter how strong the game theory behind the XMEX model is, or how good the benefits there are, most people do not think in these terms, but rather go for the YOLO. My opinion is that the paradigm should be reversed. Get unlocked MEX and be allowed to opt in to lock it and get 80% more in 4 years. In the backend thing stay the same.

Thank you.

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I love the idea. That in my opinion chance completely the game related xMEX.

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I really like this idea too! Thank you very much for sharing :pray:

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tecnically, you are gonna get five times more, which is 500% inrease then (100%, which is those “unlocked” 20% and the rest 80%…which is another 400)

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I agree with the 2nd point. Locking will feel like a reward vs unlocking feels like a punishment

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yup. which lead us again to those 80%. if it is a lot or not… i am not in will to unlock with such fee. imho most people as well (don’t want to be rude) unless they have mental condition… or maybe just cannot count.

or maybe only do not believe in mvx (but then unlocks are not depend on percentage)