What is MAG？
MAG is generated by trading on MagnEx protocol, MAG will be the governance token of MOV MagnEx protocol.
MAG total supply & distribution Plan
The total supply of MAG limited to 1,000,000, 15% of total supply is used for airdrops, it’s 150,000; the remaining 850,000 are distributed through mining, and the number of MAGs mined in the phase one is 100,000.
Airdrop plan
Who can get Airdrop？
1, SUP Holders: SUP holders will share 5% of MAG total supply, it will depend how many SUP you hold compare with other holders, the more you hold, the more you get. The amount of SUP will be decided by the snapshot on Jan 1st, 2021.
2, User who did trading on MagnEx before: The address that did trading on MagnEx before Oct 1st, 2020 will get the MAG airdrop, and the address of SUP will get the MAG airdrop.
3, Additional airdrops based on the trading volume: For previous MagnEx users, in addition, share 5% MAG, there are additional airdrops calculated by weight based on trading volume. The weight of the BTM purchase transaction is 2 and the rest is 1. This part of the airdrop accounts for 5% of the total MAG
3, Users need to claim MAG, The starting time for the claim is 2:00 am (UTC), January 4, 2021
How to claim airdrop?
Users need to claim MAG through Bycoin wallet(bycoin.im/en), The starting time for the claim is 2:00 am (UTC), January 4, 2021
Finally, we need to reminds everyone to pay attention to risks:
1. MAG has never raised any funds, everyone can participate in cost-free mining;
2. MAG has no investment value and is a MOV MagnEx protocol governance token.
If you have more suggestions and comments on these rules, please feel free to put forward your valuable comments in Bycoin-Settings-Feedback (Bycoin download link: bycoin.im/en)
