What Is Mdex?

About Mdex (MDX)

Mdex is a decentralized exchange platform (DEX). Automated market maker (AMM) technology which is at its core, means that there’s a set of protocols that allow users to trade their coins using liquidity pools. These are digital supplies of crypto locked in smart contracts. Liquidity allows for quicker transactions and helps avoid slippage (the discrepancy that occurs if the token price changes while the transaction is being executed). Participating in creating liquidity reserves allows Mdex users to get rewards.

Mdex deploys several blockchains, including Ethereum, HECO, and BSC. The team’s goal is to create a complex DeFi ecosystem that would be cost-effective and safe.

Moreover, the project uses a “dual mining system”: the users can get rewarded when they provide tokens’ liquidity (liquidity mining) and for particular transactions the list of which can be found on the website (transaction mining). Users get their rewards in the platform’s native cryptocurrency MDX.

Another interesting feature of the project is called “repurchase and burn”: they use 0.06% of the transaction fee to buy MDX and then destroy it to avoid deflation and stabilize the price of the token.

Where did Mdex (MDX) come from?

The DEX was launched in January 2021, and on the same day introduced a dual mining mechanism. In February 2021, the team started the “repurchase and burn” function.

In June 2021, MDX went through its first halving reducing the daily output from 4.6 million to 2.3 million in the hopes of stabilizing the token price.

The project’s main goal is to create a complex DeFi ecosystem and provide its users with a technologically advanced, reliable, and affordable means for crypto trading.

What are the advantages of Mdex (MDX)?

1. Fast
   
   HECO chain, which Mdex runs on, has a reputation for fast implementation of transactions.
2. Cost-effective
   
   Liquidity pools system lowers fees. What’s more, customers can mine MDX through some transactions. 
3. Engaging
   
   There are many activities for the users to take part in, such as giveaways, opportunities to win gifts, etc. 

What are the disadvantages of Mdex (MDX)?

1. Mdex does not operate everywhere.
   
   It is not available in some regions (for example, Canada, Singapore, China, etc.) 
2. Might be complicated for some users.
   
   From the visual perspective, the site might appear not very beginner-friendly.

How to buy Mdex (MDX)?

Plan to purchase an MDX token? It is very easy and convenient to do with SimpleSwap. Visit our homepage and then follow these instructions to buy MDX:

1. For example, you want to swap BTC for MDX. First, select the currency you want to exchange (BTC) in the first drop-down list. Then enter the quantity you want to swap.
2. Select MDX in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address, where MDX will be sent. Please, be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the Bitcoin deposit address. You should transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.