MDEX is a new decentralized trading protocol that was only launched in January 2021, but which has already usurped Ethereum’s Uniswap and SushiSwap, Binance Smart Chain’s PancakeSwap and the 1inch exchange in popularity, flippening Uniswap as the number 1 ranked DEX on CoinMarketCap as of March 2021.
MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO). This allows it to benefit from both the super-low transaction fees of HECO and deep liquidity of the Ethereum ecosystem
