The popular multi-chain DeFi ecosystem, MDEX, conducted its first token halving yesterday. MDEX integrated a proprietary Trading Mining protocol that rewards users for their trading activity. The halving event reduced the number of mining rewards paid out to traders. In most instances, token halvings are followed by an increase in both demand and market value. Consequently, there is a lot of excitement surrounding the event.
MDEX – A More Inclusive Approach to DeFi
MDEX is a next-generation decentralized network that combines some of the most popular DeFi features in an easy-to-navigate protocol. The platform leverages the MDX token to provide a seamless UX between its DEX, liquidity pools, and crowdfunding features. Notably, MDEX functions as an automated market-making (AMM) decentralized exchange protocol that allows traders to fund pools.
The network integrates advanced technologies from both the HECO and Binance Smart Chain (BSC) to accomplish this task. At this time, MDX ranks among the top Binance Smart Tokens by market cap. Additionally, the token often ranks #1 in trading volume on the network averaging over +$1 billion daily.
What Problems Does MDEX Attempt to Fix?
MDEX helps investors and developers avoid some common pitfalls of the decentralized economy. For one, it was built to provide high interoperability throughout the market. The network’s unique multi-chain capabilities make it ideal for traders seeking to swap assets across different networks. Specifically, MDEX users gain access to digital assets on HECO, Ethereum, and the Binance Smart Chain.
The recent rash of BSC-based project coding issues led developers to opt for the HECO blockchain. HECO is the Huobi Exchange’s native blockchain. This fourth-generation decentralized network was built to be scalable, secure, and provide low-cost transactions to users. MDEX was built on HECO with all smart contracts audited by Certik directly.
There are lots of different components that work together to create the MDEX ecosystem. Each of these features integrates the MDX token. This strategy has helped to drive demand up for this coin. Here are some of the top features users enjoy when they enter the MDEX network.
Anyone familiar with DeFi trading can tell you that bringing assets from one network to another is a major pain point in the market. In the past, the market was compartmentalized. That’s why you have exchanges like Uniswap that only services ERC-20 tokens or PancakeSwap which serves BSC users. MDEX does away with these barriers and allows users to seamlessly swap assets from chain to chain efficiently and effectively.
The concept of token bridges was first made popular by Blockstream 4 years ago. Unlike Swaps, which are direct chain-to-chain exchanges, a bridge is a special blockchain made to connect two other networks. The MDEX bridge provides you with another way to convert assets to other networks in a seamless manner.
MDEX investors can earn rewards by providing liquidity to the network’s pools. Liquidity pools were made popular by Uniswap. Unlike Uniswap, MDEX isn’t beholden to Ethereum’s high fees. As such, users can create and participate in liquidity pools for much less on the MDEX AMM. This open strategy enables businesses to gain access to public funding cost-effectively.
One of the coolest features about MDEX has to be its unique Trading Mining option. This new trading protocol rewards users for every trade they make. These rewards help drive more trading activity on the DEX, which results in deeper liquidity and more trading options. Notably, MDEX has over +$5 Billion in locked liquidity at this time.
If you want to stay ahead of the trends, you need to monitor the market. MDEX provides users with an interactive charting display. You can see all relevant information in seconds. You can also see your past trading history and other vital information to help you make an educated investment decision.
MDX users can stake their coins and receive rewards. Staking is a standard option on DeFi platforms nowadays. This protocol became a favorite of users due to its simplicity and consistent ROIs. Unlike trading, you know exactly what your rewards will be when you stake your coins. Best of all, you don’t have to relinquish ownership of your digital assets to earn when you stake.
Initial Market Offering – IMO
Businesses seeking to gain access to public funding can leverage the IMO features of the network. Anyone can seed and launch a liquidity pool on MDEX. Investors can see all the available IMOs in this section as well. You can participate in these events and receive healthy discounts to help drive your ROIs.
Burning Black Hole Contest
Uniquely, MDEX has introduced a Burning Black Hole Contest. This competition provides a fun and exciting way for users to win some serious rewards. To participate, you simply need to contribute MDX to the burning pool. Keenly, the more MDX that gets burnt, the higher the demand for the token rises. In this way, the Burning Black Hole Competition benefits all MDX token holders.
When you send funds to the black hole smart contract, you receive a burning number. The network will take this number and sequence the transaction hash of the MDX burned. The system will then take into account the hash of the block where the transaction takes place, the number of transactions of the block, and a burning number and use the SHA-256 function to calculate a new pre-designated winning number. Currently, there are three unique prizes available to users.
The highest award you can receive is the Jupiter Award. If you are lucky enough to win this prize, you can look forward to a share of 10% of the MDX burning pool. The next level of winners is the Saturn Award group. They receive a share of 100,000 USDT tokens. The exact amount of rewards that the winner receives is based on their total contribution to the black hole. The final reward group is the Pluto Award. These participants receive a share of 200,000 USDT.
MDEX – New Features and More
It’s no surprise to see investors interest growing in MDEX. They have combined a plethora of features and competitions to keep users engaged and earning. Investors that interested in getting in on the MDEX halving can do so here.