Summary:
In relation to Epoch 3 (Pool Loss for Maker LP), we will no longer accept new deposits/participants for the “Maker Liquidity Pool USDT” (ERC20 & FXCore) starting from Epoch 6.
This change is necessary to implement a new calculation formula for the future “Maker Liquidity Pool” program, which will be based on individual losses rather than a collective pool.
Existing participants from Epoch 5 of the Maker Liquidity Pool (“Maker LP”) will continue to receive rewards equivalent to 60% of MarginX’s net platform (trading) fee, unless they submit a withdrawal request. These rewards will be distributed in $FX at the end of each Epoch, with each Epoch lasting for 28 days.
Currently, the following amounts are available for withdrawal:
Here's how the program will operate starting from Epoch 6 and onwards:
Duration: From 8 June 2023 onwards (No Expiry Date)
APY and Rewards Entitlement Report: Tentatively scheduled for 10 July 2023
Rewards Distribution: Tentatively scheduled to commence on 11 July 2023
Withdrawal Request Window: From 8 to 25 June 2023 (every 14 days window)
Duration for Each Epoch: Each Epoch will last for 28 days until all previous deposits are fully withdrawn.
Existing Pool losses will be recorded as debt until a third party recovers all the losses completely.
If there is a shortage in the withdrawal requests, the difference will be manually reimbursed separately based on individually calculated losses.
Once the third party recovers the losses, any withdrawal request will no longer be entitled to any repayment. Participants will be considered as taking the losses based on their individual percentage.
Summary:
Epoch 6 has come to an end and as mentioned at the beginning, we will no longer accept new deposits/participants for the “Maker Liquidity Pool USDT” (ERC20 & FXCore).
Here’s some important updates regarding our platform:
Withdrawal Notice: We are inviting all current participants to consider withdrawing their stakes within the upcoming 14-day window. This is not mandatory, but we wanted to offer the opportunity for those who wish to do so.
Deadline for Withdrawals: The final date for initiating a withdrawal is the 20th of July, 2023 (Thursday). Please ensure to submit your withdrawal request by 12 noon GMT+8.
Migration of Remaining Participants: If you choose not to withdraw your stakes, your participation will be seamlessly transitioned into our new liquidity maker pool beginning from Epoch 7. Details about this new and improved pool will be announced as soon as it is ready to be unveiled.
Change in Reward Structure: Please note, starting from Epoch 7, we will discontinue the distribution of rewards that constituted 60% of MarginX’s net platform trading fees. This change is being implemented as part of our ongoing efforts to enhance the overall efficiency and sustainability of our platform.
Continued Profit Sharing: Despite the changes, rest assured that all existing participants will continue to share in the Profit and Loss (PnL) for Epoch 7 and beyond. This means that your participation continues to be a valuable part of our community.
Reward Distribution: Rewards for Epoch 6 will be available for redemption from 12 July 2023, 12 noon (GMT+8) onwards.
We thank you for your understanding and cooperation during this transition period.
If you have any questions or require further assistance, please do not hesitate to reach out to our support team.
Hello here,I made a withdrawal request and only a fraction of my requested withdrawal is available.Someone should help out before I start losing my mind
Hello there,there has been a little adjustment but over 15 percent of my deposit is still missing from the available deposit ? What calculation is used to arrive at this or do they want to say the maker pool lost 15 percent of the pool because I am not understanding this.
The mathematics behind this whole thing is really complex and barely anyone understands it because it keeps changing.Exactly this was one of my concerns because this market makers will likely gamble with with peoples money and not be liable for any loss.Ever since this pool started it has not posted any profit but big loss margin,also I have noticed anytime anyone makes a big withdrawal it’s followed by a big loss in that Epoch.I think this pool is specifically designed to work against you and lose you money.At this rate all the money in the pool will become debts in no time and all the deposits become thin air.Shalom
13 a percent loss in three months is too much and I hope other participants can see this and get out before their cumulative loss is 100 percent.This market makers are professionals at losing money and nothing about them is known so they are just going to keep gambling your money till they lose everything.
What is the reasoning behind not sharing the 60% of MarginX fees with future Epoch(s). Considering the system is not yet profitable, removing the fee sharing will leave no incentive for liquidity providers?
Remarks: Total deposited amount is larger than opening balance amount (as of 8 Jun) It is because total deposited amount is the cumulative deposited amount and less the total withdrawal amount.
I’m just shaking my head at how piss-poor this pool is lol.Rules keep changing every Epoch and the loss just keeps getting higher.I will be surprised if this survives another Epoch.
hi Drillz, the team is well aware of the performance issue. However, the rule remains the same - ie all participants share the loss of the pool. As of now, the pool loss is -13.23%, hence all participants share the loss together.
The losses of the marker liquidity pool will be converted a ‘debt’ to you - so technically, you are the creditor of the maker liquidity pool.
the current maker liquidity pool is run by third party
the team is aware of the performing issue and developing an automated market making algorithm that can populate the order book without human intervention. (just like UNISWAP AMM)
Today is the last day to withdraw our stakes and the details about Epoch 7 we still dont know. It would be nice to know the details before we jump into Epoch 7.
Epoch 7 is finish and till yet there is no rewards to claim. We cant deposit more liquidity to the MM-Pool. The pool is shrinking and thats not the idea of the pool, right? Till yet no details released for epoch 7 which are announced 1 month ago.
Since there are less participants, I feel like my investment is jailed. Im afraid to pull out my investment because the loss can be big, which I (nobody) cant predict.
Sorry for my concern and im happy to receive positiv news/update from your side.
