Team is private
Mdex is a decentralized application founded in 2021. The project team is private. In the decentralized finance space, this project has passed 1 audit. It has not been involved in any incidents. Mdex runs on top of the Binance, Heco blockchains for fast and secure transactions with crypto assets. The project has its platform token called Mdex. The trading volume for 24 hours is $4,770,833.
Users have the ability to contribute their cryptocurrencies to pools which can then be accessed by other users, where providers earn interest on the assets that they bring in. The DeFi Watch platform can be used as a tracker to find the best project pool with high swap fees and yield farming rewards. More details about Mdex are available at mdex.co.
MDEX is an automated market-making (AMM) decentralized exchange protocol that operates on the concept of fund pools. It differentiates itself through leveraging various public blockchains for their low transaction fees in HECO and BSC as well as the deep liquidity of the Ethereum ecosystem. MDEX uses a dual-chain model which is based on the Ethereum network, the Huobi Ecological Chain (HECO), and the Binance Smart Chain (BSC). It brings greater returns to the participants, and the transaction fee repurchase and burn mechanism realizes a closed as well as a self-driven loop for gaining value.
It all started in 2017 when Nate Flanders and Anant Handa co-founded the Mandala as a cryptocurrency and blockchain-based digital asset exchange. It simplified how digital assets are traded through a user-friendly interface as well as an integrated hardware wallet. The Mandala Exchange project or MDEX was launched in January 2021 and became accessible for liquidity and trading two weeks after this launch, on January 19. After three weeks of its initial launch, the daily transaction volume was over $1 billion.
The main way through which MDEX differentiates itself is in the fact that it offers cheap and fast transactions with low fees when compared to Ethereum. It also runs a decentralized autonomous organization (DAO) structure and uses its native token MDX to achieve governance. MDX holders have the ability to propose to initiate a token listing just by voting or collateralizing. This is a DAO system with a high level of transparency. It also offers incentive mechanisms such as LP pools, listings and pairs, and trading mining options which rewards users for every trade they end up making on MDEX.