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The guide provides details on Mdex, which is the optimal way to create cross-chain compatibility between leading chains to create a composite DEX ecosystem. Find out more about its benefits here.
Mdex (MDX) is the decentralized exchange (DEX) platform based on Heco, the Huobi exchange blockchain. It is strategically positioned as the optimal choice for eco-token transactions and the largest DeFi ecosystem with trio features, DEX, IMO, and DAO integration. It also allows a dual mining mechanism of liquidity and transactions for users. Besides, Mdex ensures a secured transaction and guaranteed liquidity process. It aims to create cross-chain compatibility between leading chains to create a composite DEX ecosystem.
In late 2017, Nate Flanders and Anant Handa co-founded Mandala as a revolutionary cryptocurrency and blockchain-based digital asset exchange. It also became a catalyst for the marketplace and driver of mass adoption. According to SEC regulation guidelines, the Mandala project is developed, simplifying how digital assets are traded through a user-friendly interface. They also intended to tackle security by offering an exchange integrated hardware wallet.
The internet welcomed the Mandala Exchange project, Mdex, on January 6, 2021. It was accessible for liquidity and trading two weeks later, precisely on January 19. The Mdex project got positive reception, judging by the value of $275 million and the $521 million transaction volume in its daily liquidity. Three weeks after its launch, its daily transaction volume spiked above $1 billion.
By February, Mdex had attained new feats, with its liquidity and single-day transaction exceeding $1 billion and $2 billion, respectively. The Boardroom mechanism was launched in that same month, and the MDEX ecological fund, worth $15 million in MDEX, was established. Towards the end of February, CoinMarketCap ranked Mdex first in global DEX rankings. It accounted for 53.48% of the global DEX trading volume. The daily transaction volume reached a whopping $5 billion.
By March, the record set was significant. Mdex TVL and the cumulative amount of burnt and repurchased MDEX token rose to $100 billion and $10 million, respectively. In that same month, the daily transaction volume, which initially stood at $2 billion in February, spiked above $2.2, with its TVL exceeding $2.3 billion. The month saw the launch of MDEX version 2.
MDEX was launched on a platform known as the Binance Smart Chain (BSC). This happened on April 8 to support the mining of single currency, assets cross-chain, trading, and liquidity mining. MDEX TVL exceeded USD 1.5 million within 2 hours of launching on BSC.
Mdex protocol has several features that make it special.
MDX is the cryptocurrency token of Mdex, highly valued for the uniqueness and success of the blockchains on which its project is running. The token can be mined and traded. It has a total supply of 1 billion. A block appears every 3 seconds based on the HECO chain with block rewards of 80 MDX per block. The halving happens after every six months. Out of the total token in supply, 80% of it goes to liquidity and transaction mining on Heco. Further, team rewards for operations and development account for 10%. At the same time, the remaining 10% of the token in supply is shared between users as early investors’ share to provide more sufficient funds and resources and used for market promotion and brand building, receiving 7% and 3%, respectively.
In addition to representing the rights of holders, MDX has some practical application value. Some of its use cases include:
Mdex is an efficient platform for digital trading, offering users speed, security, low transaction fees, and other benefits. Its multi-chains have proven to be excellent. Thus, it is the optimal way to create cross-chain compatibility between leading chains to create a composite DEX ecosystem.
MDEX is an automatic market-making (AMM) and DEX based on a mix-chain model on HECO (Huobi Eco-Chain) and Ethereum. It effectively leverages the wide, far-reaching Ethereum ecosystem and the low transaction fees of the HECO chain.
It was co-founded in late 2017 by Nate Flanders, CEO, and Anant Handa, CSO, as a revolutionary cryptocurrency and blockchain-based digital asset exchange and a catalyst for the marketplace and driver of mass adoption. Mandala decentralized exchange was launched in 2021.
Mdex is a multi-chains platform. It offers a decentralized exchange service, enabling users to trade and mine.
Mdex key components are automated market maker, dual mining mechanism, decentralized autonomous organization, reward incentives, a fundraising platform, trading mining, cheaper and faster transactions.
MDX token is used for trading and fundraising. It is also used to compensate its holders.
MDX is a cryptocurrency token of Mandala decentralized exchange, which utilizes multi-chains on its platform. You buy, trade MDX token, and also earn a reward for holding it.