MDEX.COM Holds Top DEX Ranking on Coinmarketcap and Coingecko

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For most of 2020, the catchphrase in the cryptosphere was “DeFi”. The extensive movements and burgeoning growth in the decentralized exchange space in the last few months are now crying out for ‘DEX’.

And when the past month is over, the spectacular steps taken by DEX MDEX.COM, based in Heco, seem to have cemented its leading position as the current DEX king at both Coinmarketcap and CoinGecko.

Shorten a year’s trip to a month

The young DEX (decentralized exchange), which was recently launched on January 19, 2021, a month later on February 20, reached a 24-hour trading volume of more than USD 5 billion, which is the cumulative volume all other DEXs amazingly surpassed this day.

Compared to the leading DEX Uniswap, which took 840 days to exceed its cumulative trading volume of USD 100 billion, MDEX only took 50 days! How did a relatively unknown DEX accomplish such a feat?

Favorable DEX environment

We should of course well remember that decentralization is at the core of the entire crypto movement. Satoshi’s vision for Bitcoin as an alternative to mainstream economies was at the center of his creation a currency that would facilitate decentralized peer-to-peer exchanges.

While CEXs are, of course, necessary intermediate platforms, even Binance CZ’s top CEO Binance admits that DEXes will eventually overtake its own centralized exchange.

Another factor to consider is the tightened regulations for CEXs, which impose many restrictions. These moves lead to project stoppages, relocations or standstills. For DEXes, however, this offers an opportunity to take over the market.

As early as the end of 2020, the rise of Uniswap showed that DEXes were ready to enable decentralized business. In 2021, with even better technologies and mechanisms, more and more DEXs will gain in importance and reach the coveted 24-hour trading volume of USD 1 billion.

DEXes offer cheaper transaction fees, data protection and fewer incentives for hackers

For users who prefer to trade anonymously, DEXes are the answer. DEXes offer privacy, lower transaction fees, and little incentive for hackers as funds are traded peer-to-peer rather than deposited in the massive honeypots on CEXes that hackers can target.

MDEX.COM: Dual mining, zero fees, fast transactions and community-oriented

Uniswap has long been the undisputed leader, offering the kind of liquidity only found on CEXes. However, Uniswap is located on Ethereum’s main network, and the increasing congestion and the resulting high gas charges have put many users and projects off.

It is no coincidence that MDEX has taken the leading position from Uniswap and gained important market shares. An important factor is his Zero-to-negative fee offersmade possible by the implementation of a unique “dual-chain-dual-mining” mechanism on the platform.

Most DEXs implement liquidity pool mining, while MDEX implements both liquidity and transaction mining. As MDEX CMO KiKo explains:

“For liquidity mining, also known as yield farming, MDX tokens are generated for the users who make liquidity available to the pool. In transaction mining, users can harvest MDX by trading the specified pairs. A 0.3% transaction fee is charged for transaction mining. Of the 66% transaction fees charged, 30% will be used to buy back and destroy MDX. The rest of the 70% is used to buy HT from the secondary market to reward MDX / USDT, MDX / WHT, and MDX stakers. All of these transactions are published in the chain. This “dual mining mechanism” consisting of transaction mining and liquidity mining completes an ecological “closed cycle” that is intended to support the liquidity of an AMM-based DEX. “

Under MDEX, the low processing fee of just 0.1 cents per swap means that 1 USDT HT can support nearly 1,000 swap transactions. Combined with With little slippage, good depth and high APY for transaction and liquidity depletion, trading on MDEX can generally achieve zero and even negative transaction fees Because without any slippage, the MDX rewards generated by the users of the MDEX platform for trading and mining are much higher than the transaction fees required for the transactions.

In terms of transaction speed using the Huobi Eco-Chain (Heco), The confirmation times for MDEX transactions are only 3 seconds.

In addition, platform User experience was designed to be simple and easy to use, and the MDX token was designed with Community governance in the head.

MDEX.COM: All about maintaining excellence and innovation

Currently, MDEX.COM is the DEX with the lowest transaction fees, with the platform having paid transaction fee subsidies of more than USD 310 million. The premiums for the cumulative liquidity pool are USD 210 million, with the LP yield being the highest in the entire ecosystem.

As the first DEX to implement the use of transaction fees for token buybacks and burns, MDEX believes that innovation will continue to be part of its overall vision. The DEX has stated that its goal is to create a comprehensive DeFi ecosystem that integrates DEX, IMO (Initial Membership Offering) and DAO (Decentralized Autonomous Organization) and continues to provide excellent services and high quality trading experiences.

As always, the focus of the community will be paramount in all upcoming developments.

To learn more about MDEX.COM, it is Official website is https://mdex.com/#/