Binance Smart Chain’s PancakeSwap and MXC Create a Joint Mining Venture

MXC is a cryptocurrency-focused exchange and will partner with the leading decentralized exchange PancakeSwap on Binance Smart Chain (BSC) to conduct mining activities.

Everyone is welcome to join in providing liquidity for the MX/BUSD trading pair on PancakeSwap to yield farm cakes, which is another big step in the expansion of MX use cases.

PancakeSwaps FARM will provide a new syrup pool from the MXC exchange, by adding MX/BUSD LP-Mining CAKE it can provide MX/BUSD liquidity for mining CAKE. At the same time, the PancakeSwap POOL will join the CAKE Single Currency Mining MX.

CAKE holders can mortgage their tokens to earn MX, with a token reward of 0.27777 MX per block. The specific output amount of each block is subject to the official website activity page. Syrup Pool will be distributing a total of 480,000 MX over 60 days and will be completed on August 3rd around 9 am UTC.

This is How the Process Works

As an MX holder, you can earn CAKE by providing liquidity for MX/BUSD pairs on PancakeSwap.

First, visit the PancakeSwap Pool and click “Add” to add liquidity for the MX/BUSD pair. Then, as shown in the figure below, enter “BUSD” in the first column and “MX” in the second column. Finally, the user should unlock their wallet and confirm the transaction.

To host the MX Syrup Pool, PancakeSwap DEX must provide an MX/BUSD farm, provide 2x CAKE rewards and then 1x CAKE rewards within the first 48 hours. This strategy will allow as many CAKE holders as possible to earn some lucrative mining pool rewards of up to 120% APY.

DEX sets a limit of 100 CAKE tokens per wallet for the first 48 hours and then unlimited CAKE collateral.

Trade on PancakeSwap and Earn MX Token

PancakeSwap is the largest DEX on BSC and is used to exchange BEP-20 tokens. Decentralized exchanges use automated market makers (AMM) to enable users to trade digital assets on the platform.

PancakeSwap’s move to welcome the MXC exchange on its platform will encourage the diffusion and transmission of BEP-20 MX on the BSC when the Syrup Pool is launched. Interested participants can soon harvest their MX tokens and trade on PancakeSwap at any time.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.