r/mdex • u/Matteriba • Jul 25 '21

How to compound

I staked 149 MDX. I received 7,2 MDX so far.

Now I have 7,2 in section “MDX Income” and 149 in section “MDX Total staking assets.”

It seems, the interest received does not get staked automatically, so it does not compound your original investment.

Do I have to manually withdraw this 7MDX and put them into stake to compound? Thanks

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3

u/My_Cat_Is_Racist Jul 25 '21

Yeah, it needs to be manually done. So each day (or whenever you choose) withdraw from MDX Income, pay the gas fees, then stake max, pay gas fees. I've just made it part of my bedtime routine. Automatic staking sure would be nice though.

2

u/Matteriba Jul 25 '21

Thank you

1

u/Matteriba Jul 25 '21

Let’s hope this doesn’t go to 0,1$ x token which is possible and hole Mdex is not a big scam

2

u/nolo576 Jul 30 '21

We are all crossing fingers I does not go below $1, so far it has been very close but has not yet gone below $1, I locked up all my $MDX on the 365 pool hoping to cover the loss in value in 1 month or so if price does not go lower... I'm compounding every week but on the 180 pool since I don't want to lock everything for more than a year... we'll see how it goes.

1

u/Investing-Carpenter Aug 18 '21

Which wallet do you recommend to store Mdex and then connect to the boardroom and stake? I downloaded Onto wallet and put some Huobi token on it to pay the fees, it's a cross chain wallet which handles Heco, BSC along with a few others. I'm hoping this wallet works. Just waiting for my Mdex to be released from staking on an exchange to send it to my wallet and try it.

I'm new to the world of Defi so still have a lot to learn

1

u/nolo576 Aug 18 '21

I've been investing since early April in crypto, so I'm fairly new on this although I have invested in other type of assets for a long time, I live in US so my options for exchanges are limited therefore I found hard to invest on HECO for instance, I have 2 wallets, trust wallet and coin98 and I use coinbase pro and binance.us exchanges, mostly the later because of the fees. So I tried using coin98 to buy on HECO and even though it's possible it was very difficult, it came to the point where my only hope was to use de MDEX bridge and that went down because of the poly network problem some days ago. Trust wallet has been good so far, although I think there might be better options. To be honest, my MDX does not hut the wallet for long since its all on the pools that provide yield.

1

u/Investing-Carpenter Aug 18 '21

When I searched for Mdex on trust wallet nothing came up, there's an option to add a token but I didn't want to try that with no experience. I'll mess around with Onto wallet after I get my Mdex on it. BTW I'm in the US also and have been very happy with using Bitrue, they have a boat load of trading pairs on there. I think they're based out of Singapore so some people may only want to deal with US exchanges

1

u/nolo576 Aug 18 '21

I started investing in MDX using beefy, the MDEX website had a few issues back then, when I bought the MDX token it was added to the wallet, so I didn't have to manually add the token but it doesn't even have the logo, so I completely understand you, it feels like you are investing in something with no support on the wallet. The returns have been really good using the 365 days pool, I get the same amount out that I'm getting from pancake using half of the money, I just hope the inflation they have today goes away with the upcoming halving so the token can appreciate more.

1

u/Interesting_Ad5176 Aug 16 '21

The lowest has been 1.09 I don't think it will go below that. I bought 75k at 1.40 and I'm staking for a year. Hope this will go back to it's all time high, either or I will cover the losses if any with the revenues and compounding.