What is MDEX (MDX)? Everything you need to know about MDX Token

What is MDEX? 

MDEX is the leading decentralized exchange (DEX) protocol built on the Huobi Eco-chain (HECO), Binance Smart Chain, and Ethereum. MDEX is committed to being the best option for eco-token transactions and the largest DeFi ecosystem integrating DEX, IMO, and DAO.

It also enables a dual/mixed mining mechanism of a guaranteed liquidity procedure and secured transactions for users. Furthermore, MDEX aims to promote cross-chain compatibility between chains to create a high-performance compound DEX ecosystem.

Ever since the launch of Binance Smart Chain, MDEX’s on-chain performance has been amazing. MDEX now ranks No.1 in all Binance Smart Chain DEX by 24h volume.

What is MDX Token?

MDX is MDEX’s governance token, contributing to the success of the blockchains on which its project is being built. The token can be mined and traded with 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 every six months.

How does MDEX work?

MDEX earns revenue by charging transaction fees from its users. In addition, the platform rewards users who mine their own MDX tokens. These tokens are used as gas fees or burning fees for different transactions that occur on the trading platform.

MDEX platform has emerged as the best platform over SushiSwap (SUSHI) and Uniswap (UNI) in the ETH blockchain. Its users benefit from many outstanding features as below:

• High Transaction Speed: The MDEX’s transaction speed is higher than that of Uniswap. As the MDEX platform is designed on the Heco chain, which can confirm a transaction within a short time of 3 seconds. In comparison with Uniswap of about one minute, MDEX does not have any delays which mainly causes the congestion found on the Ethereum Mainnet.
• Transaction Fees are extremely low: A transaction worth 1000 USDT on Uniswap, for instance, charges 0.3% ($3.0). But for similar transactions on the MDEX platform, the transaction fee, though still 0.3%, can be earned back through mining. Also, due to the subsidized transaction fee for members with a number of tokens above $100 million in MDEX, the transaction fee is equivalent to zero.
• Users can Switch Pools: The MDEX pooling system is flexible which allows users to migrate from one pool to another. This can be more costly on other DEX platforms since the gas fee rate increases.

Detailed information about MDX token

MDX Token Metrics

• Token Name: MDX Token.
• Ticker: MDX.
• Blockchain: Huobi Eco Chain.
• Token Standard: HRC-20.
• Contract: 0x25d2e80cb6b86881fd7e07dd263fb79f4abe033c.
• Token type: Governance, Utility.
• Total Supply: 1,000,000,000 MDX.
• Circulating Supply: 490,065,330 MDX.

MDX Token Allocation

• Heco Liquidity & Transaction Mining: 80%.
• Team Reward: 10% for technology development, etc.
• Early Investor: 7% to provide more sufficient funds and resources for MDEX.
• Market Operation: 3% for market promotion and brand building.

MDX Token Release Schedule

The total amount of MDX is 1 billion:

• Reward Team: Unlocked in 24 months after one month since launch.
• Early Investor: Unlocked in 12 months after launch.
• Market Operation: Unlocked in 12 months after launch.

MDX Token Use Cases

Some of the token use cases of MDEX include the following:

Standard Fundraising Tokens: MDEX can be used as a standard fundraising token by decentralized protocols involved in fundraising. HT-IMO - a decentralized fundraising protocol, for instance, runs on the MDEX platform. This use case is very similar to using ETH in ICOs on the Ethereum platform.

Governance: MDEX is a community-led decentralized project which means that any crucial and outstanding issues involved in the MDEX projects will be mainly governed by the MDEX community.

MDEX holders participate in communal governance through voting to establish the transaction fee ratios, get the decision for achievement through destruction and repurchase, as well as revise essential rules patterning to MDEX.

Security: MDEX is entirely secure, which is displayed through the top-notch features of the project that keep it outstanding. In addition, the protocol is audited by some leading blockchain security audit firms such as Certik, Slow Mist, and Fairyproof. Its operation is aimed at creating a robust Defi platform.

Fee: MDEX charges a 0.3% transaction fee where 66% of the daily income is split in the ratio of 7:3.

The first part is used for compensating the MDX token users and for purchasing HT in the secondary market, while the remaining ratio of the split is deployed to raise deflation through the repurchase and burning of MDX. The repurchasing and burning of MDX, and buying HT to airdrop to MDX pledgers take place daily with transparency.

How to get MDX Token

Users can get MDX Token by:

• Receiving Airdrop from the exchange when using the collateral MDX.
• Buying MDX on supported MDX exchange.

How to buy MDX Token

Coin98 Exchange

You can use Coin98 Exchange to swap other tokens for MDX.

Step 1: Connect Coin98 Extension Wallet.

Step 2: Search MDX.

Step 3: Adjust the amount you want to swap.

Step 4: Adjust the gas fee, then click Approve.

Coin98 Wallet 

Users can trade MDX Token with Swap feature directly on the Coin98 Wallet.

Step 1: At the main screen of Coin98 Wallet, click Swap.

Step 2: Click MDEX.

Step 3: Select the token to trade and fill in the necessary parameters for the transaction.

Step 4: Adjust the gas fee and slippage rate according to demand.

Step 5: Click Approve and complete the transaction.

How to store MDX Token

You can receive and store MDX Token on Coin98 Wallet with a few single steps as follows:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search MDX Token.

Step 3: Click on the correct result, copy the wallet address and send MDX to this address.

MDEX Roadmap

Excellent transaction experience

MDEX will continue to improve itself to provide the best transaction experience that is more efficient, convenient, and free for users.

Boundless future

MDEX will expand its ecology horizontally by building more innovative products and creating more value. In the near future, MDEX will:

• Implement the M-USD plan to fully release the unlimited liquidity.
• Implement the M-MEX plan to create a one-stop derivatives solution.
• M- LEAGUE plan to create a new DeFi ecology.

Unlimited returns

As the dev team insists that MDX holders are the most trustful MDEX supporters, MDX will be the only beneficiary of all MDEX growth dividends.

Partners

Currently, MDEX has collaborated with numerous well-known exchanges, including Huobi, Binance, CoinmarketCap, Coingecko, and so on.

Is MDEX a good investment?

The platform is a relatively young DEX, compared to the most Top rank DEXs such as Uniswap, SushiSwap, and PancakeSwap. Its initial explosive growth in terms of trading volumes, its expansion over to the BSC networks, its continuing development to be a multi-chain ecosystem encompassing DEX, DAO, and IDO/IMO capabilities, are definitely strong indicators for the booming potential of the project.

MDEX is pooling its strength from Ethereum, Binance Smart Chain, and Heco Chain, thereby ensuring a better user experience. The exchange is soonly evolving to be a diverse asset cosmos across different chains. Also, the exchange is expected to integrate more DeFi services such as option contracts, lending, futures contracts, insurance, plus other decentralized finance services.

Uniswap's overall trading volume has already surpassed $5 billion with huge orders, while that number of MDEX is only at approximately $1,7 billion. This will have a significant impact on slippage while engaging in transactions.

The exchange is currently boosting the HECO chain’s recognition, which may soon attract more projects to be developed on the chain.

It is always important to undergo your research and perform your own due diligence when making financial decisions.