CRYPTO NEWS AGREGATOR
Mon, Nov 1, 2021 6:33 PM by Valte

Defying Gravity: Mdex Crypto — Hidden Power of the Amm Protocol

mdex crypto

We continue our DeFying Gravity series, talking about new, both weird and exciting projects in the crypto community that appear out of nowhere as mushrooms after the rain. Our new article sheds light on the already known and appreciated by the community cross-chain exchange protocol MDEX Crypto. We will see what the project is about, what MDEX coin price prediction is and if it deserves to pay close attention to. 

What is MDEX Crypto?

MDEX is an automated market making (AMM) decentralized exchange protocol working on the concept of fund pools, similar to the usual DEX, but unlike others it is using dual-chain protocol created on both Ethereum Network and Huobi Ecological Chain, thus getting an access to the Ethereum network liquidity. It also supports cross-chain transaction protocols on BSC. 

The project was launched in January, 2021 and aims to establish a composite DeFi ecosystem, integrating DEX, IMO and DAO and to offer a one-stop liquidity services for the high quality assets, thus providing users with more secure, trusted and profitable trading experience.

Its main goal is to create a new business ecology with full application scenarios covered and multiple chains integrated.

MDEX is planning to achieve it through steadily expansion of the application scenarios and lowering the usage threshold to grant the users convenient, high-performance, cheap and integrated crypto financial services and thus providing fair assets’ prices, instant settlement of transactions and easy flow of the funds. 

Since the launch the development team was discovering what are the best protocols to build on. Now the transactions are available for all types of tokens. Confirmations take no more than 3 sec and the average transaction fee is $0.1 compensated by the transaction mining. Moreover, with the increase in transaction depth the slippage reduces to 0,01% — and it makes MDEX Crypto attractive for the users as centralized exchanges can barely provide the same. 

More details about MDEX

MDEX project has 5 major sectors:

  • Swap (together with transaction mining) — the project allows to make fast, deep and diversified transactions and receive transaction fee subsidies (but not for all the pairs).
  • Liquidity Mining — after adding the liquidity on HECO and BSC users can stake LP and get the rewards (for some of  the trading pairs).
  • Boardroom — supports staking for both Liquidity Pool and a single token; the project party buys and redistributes the rewards through the secondary market. 
  • Initial MDEX Offering (IMO) — is based on the MDEX decentralized initial offering swap mechanism. Right now it’s going through V1 and aims to achieve basic public swap functions for the sufficient liquidity and the fair users’ participation. 

The innovation of MDEX is in combining multiple advantages of the various public blockchain networks to provide a well-rounded and composite DEX ecosystem with high performance. The HEO chain is designed to avoid scalability problems such as slow transactions and high gas fees. 

The platform has a dual mechanism of liquidity mining that leads to always lower and sometimes even negative transaction fees. It happens when the users receive more rewards for the successful mining and trading than the transaction fee amount which is also reduced according to the participants’ actions. 

In February 2021 the project also initiated a “purchase and burn” program. So it provides a transaction fee of 0,3% of the transaction volume. From this 0.1% goes for the ecological projects promotion, 0.14% is directed to the users pledging MEX in boardroom in the form of rewards, 0.06% goes for repurchasing and destroying the tokens to keep the deflation. 

Those funds appear as a closed and self-driven loop for value capture. From the day of launch thousands of dollars were spent on this mechanism to support the trust of the participants. There is also kind of a lottery for  the users contributing to the burning pool. 

Tokenomics 

The total supply of the MDEX coins is about 1 billion. 10% of this amount is used to reward the team for the network operation, development and technical research. This part of the coins was unlocked a month after the launch and the unlocking is being performed during 12 months.

7% of the total supply is used to pay back (in rewards) to the early investors who brought the funds that helped in the project development. 3% is assigned for the marketing campaign and brand awareness expansion. Those two categories will also be available only after a year after the launch. 

As for the rest 80% they are divided into two parts:

  • 49% is used for the liquidity and transaction mining on HECO;
  • 31% — liquidity and transaction mining on BSC. 

The roadmap and the progress 

10 months after the launch the project doesn’t seem to give its positions away and keeps achieving new heights. According to MDEX Coinmarketcap data and charts the token has surpassed daily transaction volume of $2.7 billion and went to the top of the DEX lists of Coinmarketcap and CoinGecko. 

The first IMO also went quite successful attracting over 8 thousands participants and having $387 million funds taking part in it. According to the recent data, in one week MDEX transaction volume on Hecko was over $1.3 billion and on BSC more than $1.2 billion. 

Other than that, the project’s Ecological Fund partnered with multiple other projects such as Coinwind, Open Leverage, Syn, Booster, etc. The token itself got listed on most of the major decentralized exchanges, including, Huomi Global, Binance, Gate.io

And it's not the point for the team to stop. The future plan is to build more innovative initiatives,  decrease the transaction fees even more and create more value. Among the goal for the nearest future:

  • implement M-USD plan for the realize of the unlimited liquidity;
  • launch of the new one-stop  derivatives (leveraged transactions, option transaction and market oracles);
  • collaboration with other crypto projects in creation of a new DeFi ecology by launching supporting innovative programs for the developers and projects all over the world;
  • returning the governance to the community through Boardroom elections;
  • development of the long-term staking plans.

And according to the MDEX crypto Twitter activity the project team doesn’t stop the work on the project since the first day and keep showing that the dreams can be achieved through steady and focused hard work. Many community members are surprised by both the project utility and modesty. The project overperforming Uniswap is not widely known and lacks some wider social media presence. 


The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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