MIP #1: LINK Token Listing Proposal Passed

Proposal from Multiplier Governance has passed.

LINK token will be whitelisted on MCL in the coming few days!

11.79k stbMXX voted “FOR”

0 stbMXX voted “AGAINST”

bMXX token holders voted in favor of adding LINK token as a collateral type on the Multi-Chain Lend platform, with 11.79k “For” votes.

What’s next?

1. Once a governance proposal is passed successfully, the proposed token will be whitelisted for depositing (but not available for lending and borrowing). Collateral can be withdrawn at any time.
2. If the proposed token reaches $200,000 in collateral deposited within 1 month, the pool will be officially opened for lending and borrowing. If the minimum collateral deposit is not met, the suggested token may be delisted.
3. Proposer will be rewarded when the token is opened for lending and borrowing.
4. Initial seeders will be rewarded after 2 weeks from the date the token is opened for lending and borrowing (a snapshot will be taken of all initial seeders). The initial seed must remain as collateral during these 2 weeks, failing which the apportioned rewards will not be distributed.

Listing Incentives

1. $2,000 bMXX for proposer.
2. $10,000 bMXX shared between initial seeders (seeding up to $200,000) of the suggested token.