DekBox:
Hello everyone,our AMA is about to start,and we will mute our community for AMA events,please be patient waiting for our AMA
Here is the details about our AMA today
Section1 :Brif introduce about MDEX
Section2:Topic speach:The amazing performance of Mdex on Heco & BSC
Section3:Community questions from our form
Section4: Candy Airdrop
Kiko:
Hello, nice to meet all of you here.
DekBox:
irst of all, we welcome Mrs Kiko of MDEX to our group and start our AMA today, some of you may have used MDEX before, but do not have a clear idea about MDEX, here shall I give a brief introduction about MDEX to us
Mdex is an automatic market-making decentralized exchange based on the concept of fund pools. Mdex proposes and implements a dual-chain DEX model based on the Heco Chain and Ethereum. Mdex combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem.
And here we are delighted to have MDEX CMO Kiko here today, welcome here, welcome you Kiko.
Kiko:
Thanks, I am Kiko, the CMO of Mdex. Now I will give you a brief introduction about mdex. @justnow09 is our community volunteer, he will join the AMA with me.MDEX.COM is a decentralized cross-chain transaction protocol of BSC, HECO and ETH, and occupies first in the DEX rankings of CoinMarketCap and CoinGecko.It aims to integrate the distinct advantages of a variety of basic public chains to create a high-performance compound DEX ecosystem.
Using the “dual mining incentives through liquidity mining and trading mining”, it maximizes the returns for participants. The transaction fee charged is utilized to repurchase and burn the platform token, which contributes to materializing a self-driving closed loop for value capture.MDEX is now available on Huobi Eco-Chain (Heco) and Binance Smart Chain (BSC). Users can use MDEX Bridge to realize cross-chain interoperability between Heco, ETH and BSC.
MDEX is committed to building a DeFi platform that integrates DEX, IMO, and DAO. In doing so, it seeks to provide one-stop liquidity services for more high-quality assets, and at the same time offers users a more secure, reliable, diverse, and cost-effective transaction experience.Choose MDEX.COM for best trading experience, most economical trading cost and fastest trading speed.
DekBox:
Thanks @MdexKiko ,nice speach,thank you for show us about the details about MDEX,and here today,we prepare some community questions for you,and first of all:
What are some of the major achievements that Your Project has achieved and what milestones are planned ahead in the next 6 months, 1 year and 5 year
Kiko:
Ok, nice question.On January 6, the project went online.
On January 19, liquidity mining & trading mining were open; the liquidity of the day reached US$275 million; and the transaction volume amounted to US$521 million.
On January 24 (18 days after its launch), the single-day transaction volume exceeded US$1 billion.
On February 1 (26 days after its launch), the liquidity exceeded US$ 1 billion.
On February 3, the Boardroom (Board of Directors) mechanism was launched, and the MDEX ecological fund, worth $15 million USD in MDEX was established.
On February 19, the single-day transaction volume exceeded US$2 billion.
On February 25th, MDEX ranked first in the CoinMarketCap global DEX rankings. It accounted for 53.48% of global DEX trading volume. The daily transaction volume reached a whopping $5 billion USD.
March 10 marked 51 days of MDEX being live. The cumulative transaction volume exceeded $100 billion USD.
On March 12, the total amount of repurchased and burnt MDX exceeded 10 million.
On March 16, MDEX Version 2.0 was released.
On March 18, the 24-hour transaction volume exceeded US$2.2 billion.TVL exceeded US$2.3 billion which builds a new record.
On March 19, in total 143 million MDX are distributed in the form of transaction mining subsidies + liquidity mining rewards, worth US$577 million.
Within two hours of launch on Binance Smart Chain, the TVL of MDEX exceeded $1.5 billion. The total transaction volume exceeded $268 Million and the TVL on HECO and BSC is now over 5 billion
And now when you visit mdex.com, you can find the TVL is:
Now we have more than 188,800 daily visits from all of the world.
DekBox:
@MdexKiko :Ok thanks this is really some impressive achievement. The next question is:
Can you list 1–3 killer features of Network that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Kiko:
（1）Lower transaction fees: Compared with Ethereum’s consensus algorithm EthAsh, Huobi Eco-Chain has lower block production costs. The gas fee is about USD0.001 HT.
（2）Higher transaction efficiency: Compared with Ethereum’s TPS, HECO’s TPS can reach up to 500 with transaction confirmation times of about 3 seconds.
DekBox:
Thanks @MdexKiko
We all know that the Ethereum Network has many problems: scalability issues, high gas fees, slow speeds, and many more. So, can you tell us about why you choose heco bsc and other chains
Kiko:
The current processing speed of the Ethereum network is about 15 transactions per second. A Swap operation on Uniswap takes about 20 seconds on the condition that the internet works smoothly. Once the Ethereum network is congested, users generally need to wait for more than 1 minute, and may even encounter a transaction failure.
MDEX is backed by the Huobi ecological chain Heco. Taking advantage of Heco’s public chain performance, MDEX’s Swap operation time takes about 3 seconds, so users have almost no sense of delay. The trading experience can almost catch up with centralized exchanges.
Transaction fees are critical to user experience. The levels of fees charged directly determine users’ revenue from each transaction.
According to data from EthGASStation, Uniswap users have spent a total of 31,500 ETH on GAS in the past 30 days. A transaction on Uniswap may cost the users 3 to 5 US dollars. The speed of the transaction is undesirable. If you want to complete a Uniswap transaction faster, the GAS fee may be as high as 20 to 30 US dollars, which are rather expensive for ordinary DeFi users.
So in order to solve the problem on ethereum, we start to launch on HECO, BSC and other chains.
DekBox:
Nice shot thank you Kiko, and the next question
How does Dex solve the problem of customer stickiness? Will it add the role of customer service to solve the current problem of user stickiness?
Kiko:
1st, we consider the user experience is first, mdex peovide costomer with the best experience, you can visit mdex.com to experience the mining.
2st, secutiry is more important, DEX must ensure the user’s asset safely, as you can see, mdex has passed the certik audit by a high score.
https://mdex.medium.com/mdex-passes-certik-security-audit-with-flying-colors-f0f3d95d780e
3rd, stable and high yield rate, in mdex.com, you can find we not only support liquidity mining which has a high APY, but also we support trading mining, when you complete one transaction on mdex.com, you can get MDX reward.
Now you can find that:https://twitter.com/Mdextech/status/1388084570545926149?s=20
DekBox:
Thanks @MdexKiko Next Question
what’s the relationship between MDEX and DekBox, a simple question but I like it. Kindly tell us
Kiko:
Mdex has reached an strategic partnership with Dekbox, the cooperation between MDEX and DekBox aims to promote the improvement of the DeFi ecological blueprint and the construction of infrastructure. Both parties will work together to improve the implementation of cross-chain deployment in public chain ecosystems such as Ethereum and Binance Smart Chain (BSC).
DekBox:
This is wonderful 👍
The next question:
What do you think about the growth of the liquidity of DEK-USDT LP pool in MDEX
Kiko:
On May 7th, you can find the TVL of DEK/USDT is now rank on the top of MDEX-BSC.So we consider here will have good growth of liquidity.
DekBox:
Thanks Kiko, the next question is about the MDEX token How viable is MDEX token ? Can MDEX token rise again?
Kiko:
Ok, now I will introduce the MDEX tokenomics to you.
The total supply of Mdex’s platform token MDX is about 1 billion, of which 10% is used as a team reward for team operation, technology research and development, etc., and it will be unlocked in 24 months after being launched by smart contracts. 7% is used as an early investor share to provide more sufficient and beneficial funds and resources for the development of Mdex; 3% is used for market promotion and brand building; these two shares are unlocked in twelve months after going online. The remaining 49% and 31% are used for liquidity mining and trading mining on HECO and BSC respectively.
As the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used in the following scenarios.
1 Governance tokens
MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and burn of tokens. The list is as follows:
1.1 Voting
The comprehensive evaluation is made according to the transaction volume and total value locked of the project, and the MDX users vote for the decision.
1.2 Repurchase and Burn
MDX will charge 0.3% of the transaction fee, and 66% of the total fee income will be used to repurchase and burn MDX and buy HT to reward to users who mortgage MDX. Among them, 40% of the above allocation ratio is used to repurchase and burn MDX, and the remaining 60% is used to purchase HT for rewards to MDX pledgers, and the chain is transparent.
2 Standard fundraising tokens
MDX is also a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used.
So for the price, you can have a good answer now.
DekBox:
Did MDEX plan to start NFT DEX bussiness?
Kiko:
Yes, NFT field is a hot spot, for NFT dex businiss, when confirmed,we will announce soon, pls stay tuned.
DekBox:
As a decentralized exchange that spans both HECO and BSC chains at the same time, what significance does MDEX have for future ecological construction after opening cross-chains? Will more intelligent chains be considered in the future?
Kiko:
The current development of MDEX on HECO is very good, mainly due to the low transaction slippage of MDEX itself, transaction mining fee subsidy, basically 0 gas fee, rich asset types and other advantages, as well as the support of Heco. But if we want to make MDEX greater, we need to connect different applications and scenarios across chains, different platforms and different ecosystems. Building a multi-chain, high-performance composite ecological DEX has always been the direction of our efforts, so the current deployment of BSC is imperative. Next step, there will be the layout of public chains such as ETH, OKEXChain, and DOT. Once this cross-chain step starts, it will not stop, until different users from different ecosystems are satisfied.
DekBox:
Thanks Kiko👍
The last question :
Will there be more powerful cooperation between MDEX and DEK in the future, such as joint ecological construction?
Kiko:
Yes, as I said before, Mdex has reached an strategic partnership with Dekbox, the cooperation between MDEX and DekBox aims to promote the improvement of the DeFi ecological blueprint and the construction of infrastructure. Both parties will work together to improve the implementation of cross-chain deployment in public chain ecosystems such as Ethereum and Binance Smart Chain (BSC).
