MDEX cryptocurrency exchange is a decentralized platform that facilitates cross-chain transactions and operates across multiple blockchains, such as BSC, HECO, and Ethereum. It was founded in January 2021 with its headquarters in Singapore.
MDEX crypto exchange strives to join the benefits of multiple chains together in order to form a high-performance composite DEX ecosystem. Besides, through the dual mining mechanism that combines liquidity mining and transaction mining, participants of the exchange are provided with high rewards.
Being a decentralized platform, it is open to users all over the world. However, users from Canada, China, Hong Kong, Taiwan, Macau, Singapore, and North Korea are not allowed on the platform due to restrictions surrounding cryptocurrency trading and exchange in these countries. However, there are no strict KYC policies for new and existing users. To gain access to the platform, a user just needs to connect his or her existing cryptocurrency wallet. Supported wallets include MetaMask, Math Wallet, Ledger, Trust Wallet, and more.
Markets
There are over 350 MDEX trading pairs available for swaps. Alongside the MDEX spot trading option, the platform supports futures and margin trading options for its users. It also supports major cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and more.
In terms of MDEX exchange fees, the cost of each transaction is 0.30%, and this amount is split up in different ways: 0.10% goes to benefit the project, 0.14% goes toward miners' rewards, and 0.06% is set aside for a Repurchase-and-Burn system. Furthermore, there is no MDEX crypto price attached to withdrawals or deposits. Any charges paid during this process are determined by the cryptocurrency network in question and these fees are called “gas fees”. Furthermore, it only supports crypto deposits and withdrawals.
MDX, the platform’s utility and governance token, is a significant element of MDEX's strategic plan. The team has been increasing the number of scenarios in which it can be used and creating an entire value system. MDEX's tokenomics are based on a Repurchase-and-Burn system, which decreases the amount of MDX tokens in circulation, thus raising their worth. In addition to this, there is also a Repurchase-and-Reward policy in place. It encourages people to keep hold of their MDX tokens by providing them with rewards for doing so. Moreover, holders can use their MDX tokens to participate in the governance process of MDEX. They can present suggestions or take part in voting regarding listing new coins on MDEX or deciding the collateral value of any other asset.
Other Services
Since its launch, the MDEX cryptocurrency exchange has offered a wide range of services and products, such as trading, swapping, mining, boardrooms, and the Burning Black Hole game (with several prizes). As of writing this article, it also provides single token staking, cross-chain asset services, and transaction mining.
Burning Black Hole is a fun interactive game that offers advantages to MDX owners. If you invest in the burning pool and acquire a participation number, it could match up with the pre-announced winning number and you would be rewarded. To make sure that the game is fair and open, MDEX has created an algorithm that ensures that each time users obtain their numbers they are random, verifiable, and not able to be manipulated.
Moreover, the MDEX cryptocurrency exchange allows users to stake MDX in the Boardroom, enabling them to obtain more of the token. Additionally, during specific time frames, people who have staked MDX may also be able to mine other tokens such as HT and BNB from the platform.
Furthermore, MDEX has created an Ecology Fund with the goal of furthering the advancement of blockchain and DeFi technology, as well as enlarging the MDEX network and taking care of its resources. The Fund offers an array of assistance, including blockchain base technology and ecosystem components, to DeFi projects that promote the enduring growth of decentralized applications. The fund has invested in many high-caliber projects, such as O3, Coinwind, Westarter, Booster, Converter, Syn, Open Leverage, and so on.
If you care to see the live MDEX trade volume, take a look at the chart above.
About the Company
Nate Flanders and Anant Handa created the concept of the MDEX crypto exchange in late 2017, however, it was not launched until late January 2021. Today, Flanders is the CEO of MDEX while Handa serves as its CSO.
Nate achieved his Bachelor's degree in Business Administration, Management, and Operations from Florida State College, Jacksonville. He has been the leader of multiple ventures, such as establishing ResQ, partnering to create Crypto Coin Trader, and being at the helm of Bitwatch. Anant's educational background includes a Bachelor of Science in Chemical Engineering from Purdue University and an MBA from Columbia University Business School. His professional experience is varied, having been the Projects Control Engineer at ExxonMobil Development Company, a product manager for Apple, and finally the advisor and COO for Panda Analytics.
In 2021, the MDEX crypto exchange enabled its users to transfer their assets across different chains by combining the management of Heco and BSC. This integration brought billions worth of trades and assets to the platform while also providing services and transactions through smart contracts across its foundational chain as well as the Binance Smart Chain. Furthermore, MDEX eventually intertwined with the Ethereum blockchain as well.
On May 15, 2021, the MDEX crypto exchange activated the IMO (Initial MDEX Offering) activity statements, inciting great excitement amongst users. This V1 version of the decentralized online exchange system brings a fundamental open-exchange feature (the excess formula), providing ample liquidity for projects and allowing users to participate more equitably. Everyone who is part of the public exchange function can join in. Assets have specific rules and times for exchanging them, and customers may request exchanges within that time frame. Once exchanged, tokens are allocated based on the ratio given by the exchange rate. Any funds left over after subtracting from the amount used for exchanging are sent back to their original address. Users can use either MDX or LPs from the MDEX platform.
Don't forget to check the aforementioned MDEX volume chart.
