Introduction of Mdex
Ranking first on the CoinMarketCap and CoinGecko DEX, MDEX.COM is a decentralized cross-chain transaction protocol that supports BSC, HECO and ETH. It aims to integrate the advantages of multiple chains to create a high-performance composite DEX ecosystem and to maximize the rewards of participants with the “dual mining incentives” of liquid mining and transaction mining. Through the mechanism of using transaction fees for token repurchase and burn, it successfully realizes to create a self-driven ecological closed loop for value capture. MDEX is now available on Heco and BSC. Users can use MDEX Bridge to realize cross-chain interoperability between Heco, Ethereum and BSC.
MDEX is committed to building a DeFi platform that integrates DEX, IMO, and DAO, providing one-stop liquidity services for more high-quality assets and providing users with a more secure, reliable, diverse, and cost-efficient trading experience. In doing so, we offer users the best trading experience, most economical trading cost and fastest trading speed.
Achievements and Outstanding Advantages
Mdex came into existence on 19th January 2021 when it first launched mining and its LP (liquidity pool) pledge amount exceeded one billion US dollars within eight days. Moreover, the one-day transaction volume of Mdex went over 1.4 billion US dollars which is more than the most popular DEXes available in the market such as SushiSwap and UniSwap. Currently, Mdex’s TVL (Total Value Locked) is well over one billion US dollars.
On 21st January 2021, it was announced by Huobi mining pool that it’s going to invest 1.5 billion US dollars HTP not only to support the HECO mining projects but also the MDEX platform’s HTP/USDT liquidity as well as transaction mining. It didn’t even take one week for Mdex to surpass one billion US dollars of daily TVL after its launch. Moreover, the maximum recorded 24-hour transaction amount was 1.4 billion US dollars. Most impressively, the platform managed to reach 6 billion US dollars of cumulative transactions.
Later on, 1st February 2021 MDX became the fourth-biggest liquidity mining pool after (BTC, HT, ETH) on the MDEX platform. The total amount of MDX/WHT and MDX/USDT liquidity pools surpassed 100 million US dollars.
One of the biggest advantages of Mdex is it’s based on a HECO chain which offers a block creation time of only three seconds. It’s staggering 32 times faster than Ethereum. Additionally, because of the transaction mining financial support, the fee of trading on MDEX is negative. The MDX reward (excluding slippage loss) from the transaction mining is way bigger than the required transaction fee. That’s why MDEX has provided a subsidy of more than 120 million US dollars to its users for the transaction fees.
It’s just the tip of the iceberg because currently, the numbers that Mdex flaunts are more than impressive.
Currently, the highest transaction volume of the platform is more than five billion US dollars
The TVL (Total Volume Locked) currently is 2.060 billion US dollars
More than 40/5 billion US dollars of transaction volumes
More than 100 million US dollars subsidies on transactions mining for the users
More than 13 million US dollars paid out in the form of rewards
More than 15.7 million dollars of MDX tokens were repurchased with a live deflation rate of 5.96 percent.
Currently, the MDX mining output market value is 628 million US dollars.
The initial value of the MDX token was one US dollar which has now increased to 6.5 US dollars.
We also can’t ignore the number of MDEX on BSC:
After launching on Binance Smart Chain 5 seconds, the TVL of MDEX has exceeded $0.5 billion. After launching on Binance Smart Chain 20 minutes, the TVL of MDEX has exceeded $0.8 billion. After launching on Binance Smart Chain 40 minutes, the TVL of MDEX has exceeded $1 billion.
After launching on Binance Smart Chain 1 hour, the TVL of MDEX has exceeded $1.3 billion.
After launching on Binance Smart Chain 2 hours, the TVL of MDEX has exceeded $1.5 billion, and the total transaction volume has exceeded $268 Million.
The total price of the overall Mdex project has increased 51 times. Here are some of the advantages of using Mdex.
Stable trading system with trading pairs in abundance (about 3,000)
Fast transaction processing time (only three seconds)
Cost-effective as the fee can be refunded via transaction mining
Highly rewarding platform (more than 210 million US dollars of rewards for LP (Liquidity providers)
The trading Slippage of Mdex is low and you can see it in the following link. Moreover, you can also observe that the platform is very good in the depths of BTC, ETH, DOT, LTC, etcetera.
Determination and Ambition of the Cross-Chain in the Future
The future plans of the Mdex platform are impressive and according to critics and experts, this project is bound to transform the current landscape. It’s an excellent idea that had an amazing start with a highly qualified team and it all seems too good to be true. The future belongs to such innovative projects which carefully meet the modern requirements. In order to attract more people and to make the community even stronger the platform plans to:
Docking more multi-chain assets
Expanding the encrypted asset products’ category
Developing more user-friendly models
Strengthening the community governance
Consolidating the community consensus
Mdex aims to become the single-stop value exchange solution in the encrypted world. Moreover, the future plans of the platform are not limited to a single public chain. Mdex will bring a better DEX experience by deploying multiple chains to connect the platform to multi-chain assets. Mdex has already achieved notable partnerships such as CoinMarketCap, CoinGecko, Huobi ECO Chain, Binance Smart Chain, Token Pocket, Meta Mask, and more.
Mdex not only offers pending-order trading services but also provides its users with a seamless and smooth user experience as CEX does.
Source: cryptodaily.io
