No^, I calibrated my party mmr first like 2 months ago ( i got 3k flat archon 4) , then I calibrated my solo (3.2k archon 5) . Then today i played lost a match then i got promoted to legend 3 ( my mmr is still 3.2k) .
Medals are calculated based on your skill relative to the % of players. the top ranks are the 1% 0.5% .. legend is somewhere in the 60-70% range. (look it up, don't quote the numbers)
Basically, you calibrated some time ago when there was less people calibrating.
The majority of the 'higher skilled' players (immortals, Divines, Ancients) rushed their calibration games and instantly started playing rank in order to climb the leaderboards. Because alot of high ranked players were calibrating above you, dota would of positioned you lower than it should have.
In turn, dota decided that your 3k was in the 50th percentile, or the average of all the players that had calibrated so far etc. This however was sqewed because of all the higher ranked players that had already calibrated.
Since you didn't play ranked for a month, and Alot of players with less skill than you calibrated, Dota then realised that 3k was better than the average player and you got bumped up from the 50th percentile of players, to the 60-70percentile.. therefor dota gave you the badge resembling your skill level relative to everyone else.
My numbers will be off, you'll have to look at the meta stats for what badge gets allocated at what %.
I'm 99% sure this is the case here.
it essentially means your medal is based on your mmr as a % of the average mmr, not just a static number mmr.. Medals scale accordingly.
Congrats, you got promoted.
no probs man, hope it made sense.
Heres a link to the actual percentages that should be up to date,
https://dota.rgp.io/mmr/
Valve changed mmr now if it knows your team dog shit but you played well it will give you a lot of mmr even if you lose .
some kind of error i think. this smurf reached ancient 4 with just 4.3k mmr but i reached ancient 5 around 4850
Litterally explain the reason..
people still speculate and come to their own conclusions... 
Medals are on a sliding scale people... Its based on how many people are above you and how many people are below you.
Where your MMR (static points, Fits compared to the average of the other players)
The link above will tell you what percentile you need to be in to recieve the next badge.
I have another question, so medal is still adjusting because of players who havent calibrate yet , so people with 3k+ mmr will be promoted to higher medal as it goes on? ( even without increase in mmr?) cause i have been match to legend 2 where he has 3.5k mmr, so soon this player will have higher medal even with the same mmr?
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Explain??