The DEX has recently provided users support for the Binance Smart Chain, which serves to improve the reputability and reach of the project.
MDEX is a rising star in DeFi, a decentralized exchange originally built for Huobi Eco-Chain (HECO) and Ethereum, which has since rolled out support for Binance Smart Chain. MDEX supports a “dual mining mechanism” of both liquidity and trade mining, providing miners with far greater flexibility and an unparalleled range of choice.
-Token swaps on three chains – HECO, Ethereum and BSC
-Project launchpad – Initial MDEX Offering (IMO)
-MDX governance token with voting rights (DAO)
-Liquidity and trade mining mechanisms
-Token asset bridge between Ethereum, HECO, and BSC
-Charts and analytics features
-Token buy back and burn
What is MDEX?
MDEX is a decentralized exchange operating on HECO, Ethereum and BSC. It comprises a highly comprehensive suite of DeFi tools and products spanning everything from token swaps, trading, token launchpad (IMO), DAO, and asset bridge. MDEX also has a number of value-generating mechanisms for users, including liquidity and trade mining.
Another benefit of MDEX is that transaction fees on the platform are used to repurchase and burn the platform’s native MDX token, creating a positive feedback loop for token value capture. This maintains the deflationary nature of the token, making sure there is no oversaturation.
Since its launch in January 2021, MDEX has made significant inroads in the crowded DEX marketplace rising to the very top of the 24 volume chart on CoinGecko, grabbing significant market share in the process.
This makes MDEX one of the fastest growing, and most formidable protocols in DeFi. Daily transaction volume on the platform has exceeded $2.7 billion. The exchange is now firmly established at the top of CoinMarketCap and CoinGecko rankings.
The total volume locked in MDEX currently sits at $5.7 billion across the protocol’s HECO and BSC variations.
As a token launchpad the project has also delivered great value. The first Initial MDEX Offering on the platform was conducted on May 25th, attracting 8874 participants attracting assets of $387 million.
Token Ticker: MDX
Total Supply: 1,000,000,000
Circulating Supply: 456,986,520.75 MDX
The 10% for team rewards is held with a vesting period of 24 months. 7% is for early investors, 3% for marketing, promotion and brand building. This is vested for 12 months. The other 80% is for liquidity mining and transaction mining on HECO.
The MDX token has been deployed on both HECO and BSC, and is now listed on as many as 23 exchanges, including Huobi Global, Binance, Gate.io and MXC.
MDEX has a number of significant milestones that it intends to hit in the near future. These milestones will focus on providing the best transaction experience, broadening the horizons of DeFi and financial rewards for users.
Liquidity optimization protocol – MDEX will optimize the AMM mechanism to enable additional functions such as liquidity aggregation, range orders and limit orders.
Cross-chain transactions – the project will build a cross-chain infrastructure connecting multiple blockchain networks for cross-chain asset transfers. This will provide a more convenient asset circulation solution for users of ETH, HECO, BSC, Polygon and other chains.
Improved UI – there will be a number of areas of improvement within the user interface including a quotation display page, order book transaction function, as well as more convenient and richer pending order strategies.
Additional DeFi products
M-USD for unlimited liquidity – The platform will support the minting of stablecoin MUSD in various ways including over-staking and LP staking. This will allow MDEX users to maximize income, and avoid any potential volatility.
Derivatives – The company will launch a series of derivatives such as leveraged transactions, option transactions and market oracles. This will provide users with richer and safer products that are also more convenient.
Support – MDEX further intends to support emerging products and projects within the DeFi economy.
Community ownership – following voting by MDX holders 21 super directors will be elected. The boardroom candidates can initiate proposals and will enjoy high income dividends, while users will vote on governance proposals.
Long term staking – users can maximize their returns with long term staking plans.
Diversification – As the MDEX ecosystem grows the number of opportunities for community rewards will gradually increase.
Since its launch in January of this year MDEX has imposed itself on the DeFi market, rocketing up the charts in terms of trading volume and usage. With the integration of the BSC, MDEX has now provided users with even more reason to try the protocol out. MDEX includes strong incentive mechanisms and a number of means for protocol users to profit including staking and from trading. These forces in combination may lead some observers to conclude that the protocol’s native token MDX is currently undervalued at $2.18. MDEX also recently underwent its first halving, designed to reduce inflation by cutting block emissions. The halving will reduce selling pressure on the token as well, which had caused transactions to momentarily slow down before the halving. MDEX has a more aggressive approach than Bitcoin in that respect, and hopes to prop up the value of their token with these deflationary measures If MDEX can live up to its ambitious roadmap and continue to dominate DEX charts on CMC and CoinGecko there is every reason to believe that MDEX has a bright future ahead of it.
Source : bsc.news
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