Place/Date: Grand Cayman, Cayman Islands - November 8th, 2022 at 6:30 pm UTC · 4 min read
Contact: Dione Chen, Marketing & Communications Lead, Source: MarginX
MarginX, the world’s first community-based decentralized exchange (DEX), launches on the Function X blockchain today. It runs on a first-of-its-kind multi-chain and on-chain infrastructure that allows investors to trade with close to zero gas fees, ultra-high throughput and liquidity, and full ownership and transparency.
During its beta test in August this year, the DEX accumulated a total transaction volume of more than 45 billion USDT. Currently, with a small group of invited users, the number of transactions on MarginX continues to steadily climb past 48 million, with the most updated numbers found on the Function X StarScan.
Dr. Danny Lim, Core Contributor of MarginX, said:
“Today marks a milestone for not just MarginX but the DeFi ecosystem, as we push forth the notion of true decentralization, and uphold the values of community and ownership through our unique DEX infrastructure. We are thrilled to be building on the Function X blockchain, as it provides us with the multi-chain architecture and EVM compatibility that sets the right DeFi environment for MarginX and its future DeFi protocols.”
As the world’s first community-based DEX, MarginX is committed to being a contributor-driven, fully decentralized blockchain infrastructure. To further elaborate, the DEX can be defined by the following key features:
In addition, in never-before-seen DEX style, MarginX offers a paper trading platform that runs parallel to its live trading platform. This is to allow new users to learn with ease using test tokens, in order to trade confidently in the real world.
Dr. Shin Liang Chin, Core Contributor of MarginX, said:
“Our goal is to have people think about MarginX as more than just a DEX — it is an entire infrastructure on which DeFi protocols can be built upon. The sky is the limit when it comes to future partnerships and developments, and we are excited to be at the helm of such a direction for the industry. We hope to make finance more accessible, more transparent and more secure for everyone through the use of blockchain technologies.”
Currently, MarginX facilitates the trading of cryptocurrency-based perpetual contracts for BTC, ETH and FX. In keeping consistent with the values of community and ownership, MarginX will not involve any ICO, IEO, token sale or NFT sale, so as to level the playing field for all.
For more information, please refer to our media kit or our website.
MarginX is the world’s first community-based decentralized exchange built on the Function X network, and running via a multi-chain and on-chain infrastructure. It aims to bridge the traditional financial markets and cryptocurrency world by providing a platform where investors can buy, sell and create derivative products of any financial asset, and where every stakeholder has a say in the future of the platform.
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