How to redeem MAO by MDT?

MAO Introduction

MAO, or Mixin Autonomous Organization, is primarily aimed at promoting the long-term decentralized development of the Mixin ecosystem. Through XIN voting, it supports teams and individuals who are beneficial to the development of Mixin.

Note that before the minting of MAO tokens begins (8:00 PM NTC+8 on August 1, 2024), you cannot exchange MDT for it, as the MAO token does not yet exist. After the minting starts, you can then proceed with the exchange.

Method 1: Exchange through Mixin Messenger

Step 0: Update Mixin Messenger to version 1.10.0 or above
Download or update Mixin Messenger to the latest version from the official website.

Step 1: Enter the swap interface
Open Mixin Messenger and switch to the wallet page, then click the swap button to enter the swap interface.

Step 2: Enter the exchange amount
Select the MDTu, MDTb or MDTe currency for payment, then enter the amount you want to exchange. The interface will automatically display the amount you can exchange.
The price will be displayed as 1 MDTu ≈ 6,000 MAO. Note that there will be no loss of precision, as each MDT can be fully exchanged for 6,000 MAO.

Step 3: Confirm the exchange
After reviewing and confirming the exchange information, enter your PIN to complete the exchange. Please be patient, and if it takes more than 10 minutes, contact the 7000 customer service through Mixin Messenger to report the issue.

Method 2: Exchange through the MAO website

Step 0: Update Mixin Messenger to version 1.10.0 or above
Download or update Mixin Messenger to the latest version from the official website.

Step 1: Access the MAO website
Open the MAO website at https://mao.observer using your mobile phone or computer. The exchange interface will be visible on the homepage.

Step 2: Enter the exchange amount
Select the MDTu, MDTb or MDTe currency for payment, then enter the amount you want to exchange. The interface will automatically display the amount you can exchange.
Step 3: Confirm the exchange
Click the redeem button, then open Mixin Messenger to scan the QR code for payment. After the payment is made, please be patient. If it takes more than 10 minutes, contact the 7000 customer service through Mixin Messenger to report the issue.

FAQ

What are the advantages of exchanging MDT for MAO?
Compared to MDT, exchanging MDT for MAO provides MDT debt rights, XIN node revenue sharing, MAO investment dividends, and better liquidity (better liquidity provided by Swap, and collateralized lending of stablecoins).

When will the MDT to MAO exchange stop?
The exchange service will continue until all MDT has been exchanged for MAO or the debt has been fully repaid unless otherwise specified.

Is it mandatory to exchange MDT for MAO?
No, it is entirely voluntary.

After exchanging MDT for MAO, can I exchange it back?
No, the exchange of MDT for MAO is a one-way process.

Updated on: 01/08/2024