Our world is full of different blockchains and projects. Numerous projects have taken advantage of this revolutionary technology to offer quality services and thus rank among the best on the market. The Mdex project was launched to make the entire blockchain economy and the HECO blockchain in particular accessible. It is a decentralized platform, which has already surpassed market leaders like Uniswap and Binance Smart Chain. It is therefore a revolutionary project that is attracting the attention of more and more users. In this article we will tell you what the Mdex project is, how it works and where to buy the MDX token. So handy that you can read it all in one article, isn’t it? But before you do, watch this video below.
What is Mdex (MDX)?
This market-holding protocol distinguishes itself from competitors by using a dual-chain model, based on both the Huobi Eco-chain (HECO) and the Ethereum network. Mdex works on the concept of fund pools and bears many similarities to standard DEX. This project benefits from both the high liquidity of the Ethereum ecosystem, but also from HECO’s very low transaction costs.
In terms of cost and speed, this exchange platform built on HECO is way ahead of Uniswap. For each transaction, the estimated expense can drop to $000.1. Moreover, hosted by HECOChain, the transaction speed can reach finality in as little as 3 seconds.
Most DeFi projects are hosted on the Ethereum network as an ERC-20 token. However, the very expensive Gas costs and slow transaction speed are prompting the network to improve its services because otherwise, it risks losing most of its DEX projects.
The platform has paid more than $320 million in grants on transaction costs. Mdex is therefore currently the decentralized exchange protocol with the lowest transaction fees. The LP return is the highest in the entire ecosystem and the cumulative rewards of the liquidity pool are 215 million. The overall vision of the project is the continuation of innovation in the decentralized exchange sector.
The team behind Mdex
The Mdex platform has already crossed the USD 5 billion mark in trading volume before. According to various sources, the Mdex cryptocurrency platform is currently located in the British Virgin Islands. It was developed by a team of several experts specializing in blockchain. The team behind the project is not yet well known. But that doesn’t mean Mdex isn’t reliable. The true identity of Bitcoin‘s founder is far from known at this point. However, the coin has proven to be a very profitable investment.
To promote growth, the project has established a $15 million seed fund for DeFi. In order to sponsor high-quality DeFi projects on the public channels, MDEX will continue to invest in the foundation.
Not every crypto move goes through a decentralized system. The Mdex crypto fits this logic, but much better. Binance’s CEO was quick to point out that its centralized exchange would eventually be overtaken by the new platform.
The many restrictions imposed by the CEX regulations result in exchanges being moved and many projects being canceled. The DEX project wants to seize this opportunity to capture a larger share of the market. They provide anonymity and confidentiality to the users. Since money is exchanged between equals, transaction costs are lower.
The project is focused on excellence and continuous innovation. The founders’ goal is to create an ecosystem that integrates DAO, IMO and DEX while providing a quality trading experience and excellent services. All these future developments will depend mainly on the attention of the community.
Of course, there is a lot of competition lurking for Mdex. Currently, UniSwap, SushiSwap, and PancakeSwap are even more widely used and well-known DEXs. However, the team behind Mdex hopes to change that soon. And that is possible because the use of the HECO blockchain makes it a unique crypto project.
It is ultimately one of the most important pillars of a successful project; offering a unique solution to distinguish yourself from the competition within the same market.
Other competitors of Mdex are:
Can I mine Mdex (MDX)?
Mdex is the first-ever crypto project to integrate a dual mining mechanism into its ecosystem. It uses both a transaction and a liquidity mining mechanism.
To mine Mdex , the platform has several single stake pairs and LPs. Also one of the largest TVLs in the Heco blockchain is available on the platform. It enables a wide range of LP tokens in the Heco ecosystem.
Compared to other DEXs available on other channels, the Mdex APYs are the largest on the HECO blockchain. By logging into the pool, users gain access to the LP mining process and the APYs.
They are rewarded with crypto Mdex for the trades they do on the platform. In addition, all trading actions performed on DEX will result in a reward. By participating in transactions, users receive MDX governance coins. Thus, by using the Mdex crypto for governance, MDEX manages a DAO structure. MDX holders have the option to initiate a token listing by taking collateral or voting.
The platform also has the fundraising activities facilitated by the IMO platform. The Mdex crypto will be used to create a standard fundraising coin hosted on the HT-IMO. Mdex is therefore a very active platform with pool listings and pairs. Users can stay informed about new pools by interacting with the community. It is also possible to use Mdex to take advantage of token rewards.
Mdex’s MDX Token
MDX is the token of Mdex. It is not clear how large the final number of MDX tokens will be. There are currently 1 billion tokens in circulation. That could therefore change in the future.
This causes itching for various crypto traders. Because it is not clear whether a larger number of tokens will ever come into circulation, they also do not know whether some form of scarcity will eventually arise. For example, Bitcoin is known to eventually have 21 million coins in circulation. This creates a form of scarcity, which is likely to increase the value of Bitcoin in the future.
When the token hit the market in February 2021, it rose with the other cryptocurrencies during the bull run. It reached its all-time high (ATH) of $9.3 around early March 2021. However, the value of the MDX token fell quite hard after this. In August 2021 the value is at $1.33, which is of course a big (negative) difference with March.
Whether the value of the token will increase in the future, of course, remains to be seen. By doing good research into the token yourself, you can determine by means of technical analysis when it is best to buy the MDX token.
Where can I buy Mdex (MDX)?
There are several ways to get Mdex (MDX). It is best to buy BADGER from a centralized crypto exchange, such as Binance, Coinbase , Coinmerce or Bitvavo. You probably also know that there are many crypto exchanges. However, it is not wise to just choose a broker. This is partly due to safety and the costs involved. Some exchanges are not safe enough, and others charge sky-high transaction costs.
We recommend that you buy MDX from Binance or Bitvavo because you can buy this cryptocurrency here for the best price and security. These exchanges are among the largest, so they can always offer high liquidity. This ensures that you as a buyer and seller get the best price for your crypto coins.
It is of course also possible to buy MDX from a decentralized exchange (DEX) such as Uniswap or Sushiswap. However, that is not recommended if you are still a novice crypto trader. This is because you have to go through quite a few steps before you have actually purchased your coins. The chance that things will go wrong is therefore many times greater than with Binance or Bitvavo.
How can I save Mdex (MDX)?
When you buy MDX tokens, you will need to keep them in a wallet that supports MDX tokens. This is in many cases a hot wallet. However, this is not always the best and safest choice. It is much more sensible to store your MDX tokens in a cold wallet, also called a hardware wallet.
Founded in 2014, the Trezor one is a wallet primarily designed to store Bitcoin. It plays an important role in crypto trading. To store your MDX, this is one of the highly recommended wallets. In addition to storage, you can also trade in cryptocurrencies with this wallet. It is a very secure wallet that offers ease of use at the same time. It is regularly mentioned as one of the best hardware out there. It is an ideal wallet for storing your Mdex cryptocurrency.
The main competitor of the Trezor One is the Ledger Nano S. Ledger is the world’s number one in crypto wallets. With its military-grade security, this wallet is nearly impossible to hack. It is the ideal solution to keep all your crypto coins and tokens safe from any inconvenience. The Ledger Nano has a separate screen and chip to mitigate potential security vulnerabilities in certain applications. The Ledger is perhaps the safest wallet to store your Mdex in.
Moreover, the Legder is compatible with Linus, Windows, Chrome OS, Mac, etc. You can connect it to your computer with an OTG cable. Just the fact that you can store your cryptos on this Mdex wallet is enough to make managing your cryptos easier.
What is a DEX?
DEXs are decentralized cryptocurrency exchange platforms that, unlike centralized exchange platforms, can combat cyber-attacks more effectively. In addition, they are safer, private and autonomous.
The majority of DEX (90% of the most active) are hosted on the Ethereum network. In practice, for example, if you want to trade ETH for MDX, the aggregators will compare the different rates charged by the DEXs and proceed to the trade with the one that offers the best rate.
Ultimately, the platform is a simple interface that connects a buyer and a seller. For this you need nothing more than a login, a password and a crypto wallet.
On the other hand, DEXs are slower than centralized exchange platforms, especially in the case of heavy traffic. This is because there are often many other crypto projects running on the platform in addition to the DEX. The best-known DEXs are UniSwap, PancakeSwap and SushiSwap. But Mdex is also among this list, because this DEX is increasingly found by the average crypto trader.
More and more new platforms are becoming available on the blockchain. A large number of these types of platforms is a DEX. This is because crypto is being traded more and more, which means that there is also an increasing demand for a crypto exchange.
By distinguishing yourself as an exchange from the rest, you can take a big lead over the competition. And that’s what Mdex does. Because by combining the Ethereum blockchain with the HECO blockchain, the platform benefits from both advantages. For example, it benefits from the speed of Ethereum, while on the other hand it also benefits from the low transaction costs that the HECO blockchain offers.
Crypto traders who have faith in this project can purchase the MDX token. This is the token of the Mdex platform. By buying the token for a lower price than the selling price, a nice profit can be made. However, we will have to wait and see if the price of the MDX token will actually increase in the future. Because nobody knows for sure!
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com