MDEX CTO SKY talks about how to capture the value of dual-chain deployment
Original title: "MDEX CTO SKY: How to capture the value of dual-chain deployment"
On April 13th, the largest application of HECO was MDEX CTO SKY. From HECO to BSC, MDEX occupied the first place in the transaction volume of DEX. What on earth attracts so many funds to MDEX?
Sky shared the content of "the way to capture the value of double-chain deployment", introduced the current development of MDEX and the future plan to users in detail, and finally answered some users' questions in the community.
Host: Could you please explain in detail what kind of project MDEX is?
SKY: MDEX supports the decentralized cross-chain trading protocols of BSC,HECO and ETH, ranking first in the list of CoinMarketCap and Coingecko DEX, aiming to integrate the advantages of multi-chain and create a high-performance and complex DEX ecology. The "double mining incentive" of liquidity mining and transaction mining is used to give maximum feedback to participants, and a self-driven ecological closed-loop of value capture is realized through the commission repurchase and destruction mechanism. MDEX has now landed in HECO and BSC, and users can use MDEX Bridge to realize cross-chain exchange of assets between HECO, Ethereum and BSC.
MDEX is committed to building DEX, IMO and DAO as one of the DEFI platform, to provide more high-quality assets with one-stop liquidity services, to provide users with more safe and reliable, diversified assets, cost-effective trading experience. For cryptocurrency trading, choose MDEX as fast and as cheap as possible. MDEX is the core hub of value exchange in HECO ecology, and it is an important attempt to open up the market of CEFI and DEFI. MDEX has recently deployed the BSC, which will usher in greater ecological integration and growth.
Host: According to Coingecko data, Mdex is currently a decentralized trading platform with a large volume of transactions. How did MDEX achieve so much in less than four months?
SKY: From HECO to BSC, MDEX has gained two advantages: on the one hand, it expands the service scope, which is conducive to making the "cake" bigger; On the other hand, with the help of the development opportunity of DEFI, it will open the channel of upgrading from technology to market to ecology. At 10:00 on April 10th, less than two days after MDEX launched Binan smart chain (BSC), the total locked position value (TVL) had reached 2.765 billion US dollars, and the total TVL of HECO and BSC in Huobei ecological chain had reached 4.975 billion US dollars. This indicates that MDEX has good user experience and high wealth effect.
This is inseparable from our core advantage, just as our Slogan advertises: full ecological currency exchange, as fast as it is good to save.
More: The transactions provided can meet the basic transaction needs of users, and there will be more currencies with more value and consensus in the future.
Fast: the transaction can be confirmed in 3 seconds.
Good: The projects that go live are relatively selective, with a balance between decentralized governance and efficiency.
Economy: the transaction fee is as low as 0.1 US cents (note that it is US cents, not US dollars), and the transaction mining itself will erase the cost, zero commission, and the improvement of trading depth will further reduce the slippage point. At present, many transactions can achieve less than 0.1% slippage point, which is a trading experience that cannot be achieved by centralized exchanges in many cases.
Host: The early development of MDEX cannot be separated from the support of Huobi ecological chain HECO, so why does MDEX now deploy to BSC of Binance, a competitor of HECO?
Sky: HECO should be different from BSC in terms of user groups, and MDEX is positioned as a DEX with multi-chain layout, not just the DEX on HECO. MDEX launched Binance smart chain BSC, officially entering the multi-chain era. This is a major milestone for the entire DEX circuit.
There is a saying in the coin circle that "the Internet is the information superhighway and the block chain is the value superhighway". As we all know, in the blockchain world, each public chain is a large or small economy, and the assets and dApps on the chain cannot interact smoothly with each other. In other words, only after the completion of cross-chain, value can be transferred at high speed. The multi-chain deployment of MDEX and the creation of a full ecological transaction protocol are the due meaning of the development of blockchain. In the DEFI domain, DEX is an important infrastructure in the DEFI ecosystem in the public chain. Today, most Dex live around a single chain, each occupying a single mountain, and their development is increasingly limited.
There are also several reasons for this:
First, MDEX's total warehousing volume has reached 2.3 billion US dollars, and the capital on the Huobin ecological chain HECO is about 8 billion US dollars. The TVL of MDEX has taken up more than a quarter of HECO, so it is necessary to further expand its ecology.
Second, MDEX aims to create a multi-chain and high-performance composite ecological DEX. Starting from HECO, it will launch BSC, followed by ETH, OKExchain, DOT and other public chains.
Third, MDEX itself has the advantages of low sliding point, transaction mining commission subsidy, zero commission and rich asset types.
Therefore, it is natural to cross the chain to Binance smart chain BSC.
Host: The largest DEX on the BSC is Pancakeswap. How does Mdex compete with it? What's the advantage of MDEX?
Sky: The BSC of MDEX's online Binance smart chain will welcome three advantages again. First, the number of users will increase, and the transaction volume will also increase significantly. Second, the multi-chain deployment of MDEX is more convenient for both the users and the project, which is conducive to increasing the stickiness of the project parties and cultivating the loyalty of the users. Third, the wealth opportunities on MDEX will continue to increase, and the value of MDX will be further recognized by the market.
In fact, a lot of people are under the misconception that MDEX will compete with Pancake for traffic when it goes into BSC. I don't agree with such a statement. According to the current data, it is indeed not the case. MDEX's TVL has reached 2.7 billion US dollars, and Cake has not been affected at all, so there is still a great space for the development of the whole ecology.
In addition, it is normal for an ecosystem to have multiple Dex. For example, in the field of Ethereum ecological Dex, there are Uniswap, Sushiswap, 1Inch, Curve and other Dex, which have their own characteristics and develop in a coordinated way. There is Pancakeswap and MDEX on BSC, and our relationship is both cooperation and competition to develop ecology in synergy. In addition to the above mentioned "how fast it is, how good it is to save", MDEX has another advantage that it coordinates the flow resources of Huobi Ecology and the flow of Binan Ecology.
Host: MDEX was successfully deployed in the first 12 hours of the BSC, the transaction volume was close to $2 billion, and the total lock volume was also over $2 billion. How can MDEX achieve such a result? Is the market overheated?
SKY: Excellent product design, the early involvement of mining profit effect, all to flow to Mdex concentration, however, short-term high is not our purpose, according to the iec Heco fire currency on past experience, $2 billion is a normal phenomenon, also is not a market overheating, not cold or hot market, the product we had no winter, as long as consideration for the user, As long as there is a wealth effect, there will be people to come, more people gathered, the market will look hot.
Host: After MDEX is deployed to BSC, it will also start liquidity mining and trading mining at the same time. Could you give us some information about the rate of return of mining?
SKY: Single currency pledge mining ranges from 30 to 100%, LP liquid mining annualized rate of return is more than 50% for stable currency trading on LP mining, while other LP mining is basically above 300%. Trade mining is currently high, between 150% and 6000%.
Host: Many users are concerned about halving the price 45 days in advance. Will this behavior have an impact on the MDX price? Are investors and team shares unlocked early?
Sky: Shares of investors and teams will not be unlocked in advance, which is equivalent to dilution of shares of investors and teams.
The MDEX economic model is also described here:
The total supply of MDX, MDEX's platform token, is about 1 billion, of which 10% is used as a team reward for team operation, technology research and development, etc. It will be unlocked in a 24-month smart contract after one month of launch. 7% as the early investor share, to provide more sufficient and favorable capital and resources for the development of MDEX; 3% for marketing and brand building; All are unlocked in 12 months after going online. The remaining 49% and 31% are used for liquid and trade mining on HECO and BSC, respectively.
49% HECO Liquidity and Transaction Mining
31% BSC Liquidity and Trading Mining
10% Team Bonus (Unlocked 2 years after 1 month)
7% Early stage investor & NBSP; (Unlock in 12 months after launch)
3% Market operation (unlock in 12 months after launch)
Host: Now MDEX has completed the deployment of BSC, what are the other plans in the future?
Sky: In Q2, MDEX will gradually realize the following four functions:
1. Multi-chain deployment
Gradually support ETH (two-layer network), BSC, OKExchain, DOT, NEAR and other public chains to achieve asset exchange and create a full ecological transaction agreement.
2. Assets cross the chain
Set up cross-chain protocol to realize one-key asset switch for users.
3, Orderbook
Provide more convenient, more abundant booking strategy, users can enjoy CEX trading experience.
4, IMO
To provide project parties with transparent, open and customizable financing services.
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