MDEX

History of MDEX

After the initial release of the project, MDEX quickly raised the liquidity value to $275 million and a transaction value of $521 million. During the initial stages, MDEX had not integrated with the Binance Smart Chain and still managed to gather a huge volume. Within 18 days of its release, the daily transaction reached a billion dollars. Soon after the liquidity reached a worth of one billion USD. Moving on with its expansion plans, MDEX integrated with BSC on April 8, 2021, and instantly saw a surge in the various finances of the platform.

MDEX has transformed the concept of fund pools in the sense that it is able to maintain unparalleled guaranteed liquidity and still provides a seamless platform for instant trading and low transaction fees. Being based on the Heco chain, it works with a dual mining mechanism that increases the safety of the finances and makes them more immune to attacks. The individuals can easily stake or trade on the platform and choose from thousands of trading pairs, provided by smart contractors.

Features of MDEX

MDEX is one of those platforms that are able to bring in a lot of users, by the sheer power of features and functionalities, even if they are not linked on the biggest chains by market cap. This MDEX review covers the following features:-

MDEX also comes with a feature through which individuals can bridge their asset cross-chain, for instance, trade MDX token from Heco chain to Binance smart chain. This is one of the most elite functionalities/tools that the platform offers for advanced traders.

The decentralized platform is also a market maker which lets individuals stake their assets and gain returns on their assets. The crypto exchange also has functionality for swapping assets. The swap transactions can take place within 5 seconds while it might take several minutes on other platforms.

The swap interface is also user-friendly. This adds to the attractive nature of MDEX. The Huobi eco chain is able to provide various benefits to individuals for liquidity mining as the generation of more MDX tokens means faster growth for the exchange.

Each token gives users the power to cast votes and make decisions for the decentralized exchange as the governance is community-driven. Large pools are always an advantage for any platform and the 24-hour transaction volume for HECO and BSC has been consistently reaching a combined total in the range of $750+ Billion.

Services and Products Offered by MDEX

MDEX has introduced numerous services and products to the marketplace ever since its inception and these cover the domains of trading, swapping, mining, boardrooms, and a burning black hole game (with several rewards). Currently, the platform offers single token staking, cross-chain asset services, and transactions, transaction mining, trading, etc. It might seem to beginners that the platform provides the same services as other Defi and Cefi mediums, but the scale and simplicity of MDEX are undisputed.

This MDEX review offers the following Services:-

Cross-Chain Services

Earlier this year (2021), the cryptocurrency exchange platform integrated with the Binance Smart Chain (BSC). This integration not only brought in assets and trades worth billions to the platform but also enabled it to provide services and transactions across its foundational chain and the smart chain. The combined management of Heco and BSC is how MDEX enables its users to transfer their assets across the different chains through smart contracts. In addition to these, it also intertwines another gigantic chain, i.e. Ethereum.

Swapping

In the domain of blockchain and cryptocurrency, swapping is defined as the process of exchanging one crypto asset for another through a trading platform. This can be done through both centralized and decentralized exchanges and each has its own benefits and drawbacks, for example, varying trading volume across the marketplace. Through an intuitive swap interface, MDEX has simplified the swapping of assets. There are thousands of swapping pairs that are supported by MDEX.

What Is MDEX?

Based on a decentralized trading protocol, MDEX is a platform that serves as an exchange and interface between investors and the crypto marketplace of the Heco chain. The platform has a large variety of features and services that contributes to its popularity. This exchange (community-led) offers up to 0% trading fees through mining and also provides incentives for users who hold over $100 Million MDX.

The platform has an ongoing bug bounty where developers can report any software glitch/bug or vulnerability to the team and get rewarded for the same. This serves as a measure to increase the security of the platform by having it tested by the public.

How Does the MDEX Exchange Work?

MDEX generates its revenue through transaction fees that are charged from users. In addition to the fee, the platform gives out rewards for mining its own MDX tokens. These tokens can be exchanged with a 1:1 ratio on the platform and are used as gas fees or burning fees for the various transactions that take place on the trading platform.