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Đecentralized Člub

AmA with Mdex

Mdex AMA Summary with Decentralized Club ✔️

Dear, Community,

Welcome to the recap of our AMA with Mdex. 
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Mdex is about, we are sure this recap is gonna help you. So without further ado,continue reading 😉

✔️Introduction with Knit Mdex : 👉

BILLY:
Q1. Can you provide a brief introduction to the core team behind Mdex? @MdexKiko @justnow09

Kiko:
Our core team has rich experience in cryptocurrency, most of them have the experience on working for some famous project in cryptocurrency industry.So we have a strong team in Technology,Market,Business and Communities.

Thanks

BILLY:
Good experience means great products 👍

Q2. Can you talk a bit about what innovations has Mdex brought to the table? @MdexKiko

Kiko:
Yes, for the innovations MDEX brought, I will give a introduction as belowing

1st, MDEX uses “dual mining mechanism”: liquidity mining and transaction mining;which will provide the user more revenue return.

2nd, MDEX is the global pioneer of automatic repurchase and burn mechanism.We lunched a repurchasing and burning pool weeks ago.

BILLY:
Oh thats cool. So you mean tokens will be purchased automatic based on some criteria?

Kiko:
The smart contract allocates the corresponding proportion of daily platform income into the repurchasing and burning pool.

When the market price is lower than the three-day average price, the smart contract will be triggered, and the repurchasing and burning will be automatically executed.

BILLY:
Understood!

Q3. What is that one significant milestone Mdex has achieved which you are proud to share ? @MdexKiko

Kiko:
If the actions are not triggered, the tokens will continue to accumulate into the repurchasing and burning pool.

Thanks

1st, the cumulative value of transactions has topped $100 Billion since mdex.com launched.

BILLY:
Holy moly . That’s beyond incredible

Kiko:
2nd, for the cumulative value of transactions of $100 billion, MDEX just took only 51 days.And uniswap took 840 days. So we sincerely thank everyone who participated in the MDEX transaction.

3rd,MDEX has launched for 50 days, the rewards for liquidity mining and trading mining has been exceeded more than 120 million MDX, which is equivalent to $5.4billion.

BILLY:
Mdex beats Uniswap. Boom !

Proud to host you guys!

Kiko:
4th, MDEX has reaped 18 different top rankings since its launched 45 days ago.

BILLY:
Q4. What is Mdex gunning for further in 2021 ?

Kiko:
Thanks

Taking trading as the starting point, our broader vision is to create a composite DeFi ecosystem that integrates DEX, IMO, and DAO. In order to provide services to more ecological users and provide the best quality trading experience, MDEX will continue to upgrade and iterate to unlock new development routes.

In Q2, MDEX will gradually realize the following four functions:

BILLY:
What do you mean by integration of dex with IMO and DAO ?

Kiko:
1.Multi-chain deployment
Gradually support public chains such as ETH(Layer 2 ), BSC, OKExChain and DOT to realize asset interoperability and create a full ecological DEX.

2.Asset cross-chain
Build a cross-chain agreement to realize one-step asset switching for users.

3.Orderbook
Provide a more convenient and richer pending order strategy, and users can enjoy trading experience like CEX.

4.IMO
Provide project parties with transparent, open and customizable financing services.

BILLY:
I see your plans are packed.

Kiko:
MDEX will create a new business ecosystem with full-scene coverage, full-ecological deployment, and full-chain connectivity.

BILLY:
All the best !

Seeing your determination it will be done I am sure!

Kiko:
Thanks, II wanna share more about the fourth question

BILLY:
Sure

Kiko:
It will continue to expand application scenarios, lower the threshold and provide global users with more convenient, high-performance, low-cost, and undifferentiated financial services. Ultimately realize fair pricing of assets, instant settlement of transactions, and free flow of value.

Thanks,done

BILLY:
Thanks for the introduction!

We all learnt a lot about Mdex

🌍 Community ask question by Twitter 👨‍💻

BILLY:
Twitter Questions

Twitter question no 1.
From : @y1sus_afp

For a DEX that uses liquidity mining, can users transact at any time and withdraw the reward without their mining capital being affected? Or are fees charged at the time of withdrawal? Could you clarify this for us? Thank you.

Twitter question no 2.
From : @MesutGunerri

What do you think is the biggest problem #MDEX will solve, where other projects have not been solved yet, and why is it important to solve this problem?

Twitter question no 3.
From : @JinJrx

in the MDEX medium I read a new generation of DEX that emerged as a threat to CEX (centralized exchange), is this a system that belongs to MDEX, and why did you choose DEX as your project building system?

Kiko:
№1 questyion.You can transact and withdraw at anytime. You can withdarw the reward at any time,

Kiko:
After you finish the SWAP, you can get your trading mining rewards. The button “Withdrawable Rewards ” shows your total trading mining rewards.

When the colour of the button “Withdrawal Reward” changes to GREEN, you can withdraw your rewards.

Note: The trading mining formula is,
Current transaction amount you have not withdrawn/ Current total transaction amount not withdrawn * Remaining reward tokens in the pool.

For the transcation fee when you withdraw your reward, it is just a small part.Because on the Huobi ecological chain where MDEX is located, the transaction fee could be as low as US$0.001, thanks to Huobi’s HPOS mechanisms and meta-transaction.

he figure generated by empirical studies suggests that the actual fee of each transaction on MEDX is basically between US$0.03–0.06, which means that one HT can pay more than 100 transaction fees.

For 2nd question

First of all, Mdex.com focuses on the user experience, very low or even negative transaction fees (due to high transaction mining), confirmation time of 3 seconds, and overall smooth usage.

Second, MDEX offers a wealth of Boardroom rewards and mining opportunities. In the next step, we will continue to promote innovative models to allow customers to have higher returns.

For example, at present, MDEX will continue to deploy more ecological projects and cross-chain assets of Star public chain, and continue to expand the boundary of trading ecology and community, which will be a broader blue ocean market, while MDEX is just beginning to compete with Uniswap, Sushiswap and other leading Dex players.

At present, the MDEX platform only provides trade mining and liquidity mining. In the near future, it is expected to introduce decentralized derivatives trading such as options/futures contracts, trade insurance, lending and so on.

This will continue to increase the revenue of the whole platform, and the revenue of the platform will also power the MDX token.So we will provide better user experience, higher return on investment, thus changing the market landscape of DEFI.

For 3rd question

The industry is brand new and has a lot of opportunities. We see unexpected innovation everyday.

Firstly, Mdex is a new type of Dex, with the dual-chain mechanism of Heco and Ethereum.

Our platform is the first trading platform on HECO, which is a decentralized trading product based on AMM of capital pool concept.

It combines the advantages of low transaction cost of HECO chain and the prosperity of Ethereum ecosystem to build the concept of Mdex and this has been very attractive to many users and it has made so many people drive away their attention from Cex to Dex where they own the custody of their assets with low transaction fee and adequate liquidity.

BILLY:
Thanks for the well explained answers !!

Kiko:
From the traders’ comment, Mdex low transaction fee and nice UI which provides smooth trading on the platform is a big threat to Cex and so many of them are now using our platform and this has helped the trading volume to grow so big.

Sorry, I wanna share more about the no.3 question

BILLY:
Go ahead 🙂

Kiko:
Thanks

In fact, Mdex hopes to build a dex+cex exchange.

The advantage of Cex itself is that the pure DeFi project has a higher risk and a greater chance of running off. Besides, the mature kyc model of Cex filters the identity of traders.

Kiko:
The advantages of Cex encourage MDEX to be a dex+cex combination project in the future.So welcome to trade on MDEX.com

That’s all,thanks,everyone

BILLY:
Your determination to answer everything perfectly is really inspiring

🌍 Community ask question by Website 👨‍💻

BILLY:
Website question no 1.
From : Carlos (@chzrles)

What are the steps to take to make a proposal using your DAO system? How transparent is your community voting mechanism and how can users participate on it?

Website question no 2.
From : Marian (@meml97)

I read on your twitter that a few days ago you said you will be adding new pools to liquidity mining. Could you tell us which and how many will you add? Do you have plans to add even more pools in the future?

Website question no 3.
From : Pepensando (@costurera3000)

On the website can be seen that MDEX has already audited their codebase. However, can you talk about Fairyproof and explain the background of the company that was in charge of conducting this audit?

Kiko:
For first question

This will be announced in the future, our governance will be launched in future. The DAO will be able to make decisions on the platform. When we start to open the DAO, you can find more useful information on twitter or medium,pls stay tuned.

For 2nd question

Yes, we have added some new pools for liquidity, you can check on our official website now:

Kiko:
In the future, we will open more pools in liquidity mining pools, as you all know, MDEX is dploying on the BSC,okexchain,and other public chain, so there will more and more pools added in the future.

For 3rd question

Mdex smart contract is safe and well audited by some reputable auditing institude. Users funds are secured and users don’t store their funds on our platform, they have control of their funds.

For more details about Fairyproof, you can vist: http://www.fairyproof.com/, then click:about us.

✍️ Telegram live Questions answered by Mdex ✔

Alikaa Azzahra:
where is the $MDX token listed on the exchange and is #MDEX supported by HECO for future developments?

Dantes Stan | DON’T PM FOR ETH/$$:
Mdx is listed on Mdex, huobi, gate.io, mxc and some other exchanges. You can find more details on where mdx is listed here https://www.coingecko.com/en/coins/mdex#markets.

Secondly, heco is showing great support to mdex and we built on Hecochain network.

Marian Merheb:
🧨 On your medium article about MDEX Angels, you said they will be separated into categories, what do I need to do if I want to join MDEX Angels program? Which categorie will I be put in and how do I upgrade from one categorie to the other one?

Dantes Stan | DON’T PM FOR ETH/$$:
Yes. M-Angel is a long-term personal partner of MDEX community, helping MDEX to build and care for a MDEX brand that continuously transcends the past, challenges the future, and focuses on the present details.

M-Angels can contribute any valuable resource to MDEX and are rewarded with MDX tokens or other forms of incentives for their contributions.

According to the monthly score, M-Angel ranks Navy Blue, Sky Blue, and Blizzard Blue in order, and the ranking rises or falls according to the monthly activity and contribution value.

You can apply to join m-angel. There are applicants like YouTuber, community manager, developer who showed high interest in Mdex and have already paid a lot of attention to us before the recruitment. We have gladly received several applications these days.

We sincerely welcome anyone who has passion for helping our team build a great brand and letting more people know Mdex. If you want to participate in the construction of MDEX community, no matter what advantages you have, now you can apply for the M-angel of MDEX community.

To find the access, here is the information you may need:
https://twitter.com/Mdextech/status/1358733226085257216?s=20

Willy Wilian:
What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like Your project play in this?

Dantes Stan | DON’T PM FOR ETH/$$:
Our main goal is to provide users a platform with low transaction fees where they can exchange different digital assets. The transactions on Mdex are mainly executed on Hecochain. Hecochain is more developer and user friendly and it’s cost efficient public chain.

Kenan Yılmaz:
What is the total supply of the token and do you think about the token burning process?

Dantes Stan | DON’T PM FOR ETH/$$:
The total supply is 1 billion. We do allocate some Mdex of our daily platform income into the repurchasing and burning pool, the allocated funds are used for repurchacing and burning the MDX. MDX is deflationary. Whenever the market price is lower than the 3 days average price, our smart contract gets triggered and the repurchasing and burning will be automatically executed. If the actions are not triggered, the tokens will continue to accumulate into the repurchasing and burning pool.

✔️Thanks to all of our Community Fans✔️

Have a Great Day

Edited by : 🌿DK✍️

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