CryptoBooster x MDEX AMA Recap on July 9th

Updated: Jul 27, 2021


Part 1 — introduction and questions from the Twitter retweet

Car Marz | CryptoBooster:

Hello, everyone! We are happy to announce our AMA session with MDEX! Welcome to Multi-Chain Booter Community.

Hope you are all very excited as I am..

This is the first AMA in our community.

And we have an amazing one for you

Now let’s get going 😃😃🔥🔥🌪🌪🙌🙌

A pleasure to have you here Madam @mdexKiko2021

How are you doing today 😃

Ready for this AMA

MdexKiko2021 | MDEX:

Hello everyone

Glad to be here today

Let’s go

Car Marz | CryptoBooster:

So let’s start… Now there’s a lot of people with questions for MDEX, would you please introduce yourself before the chat and share a quick overview of MDX? What milestones have MDEX achieved?

MdexKiko2021 | MDEX:

Hi, I am Kiko, the CMO of Mdex. I have been in the crypto market for 3 years. I have extensive experience in the Crypto industry particularly in DeFi. MDEX is an exciting and innovative project on the market that has made significant strides over a short period of time compared to its peers. After getting into the crypto industry, I never looked back and my goal is to explore as much about this field as I can.

MDEX.COM is a decentralized cross-chain transaction protocol on BSC, HECO and ETH, and occupies the first in the DEX rankings of CoinMarketCap and CoinGecko. It aims to integrate the distinct advantages of a variety of basic public chains to create a high-performance compound DEX ecosystem. Using the “dual mining incentives through liquidity mining and trading mining”, it maximizes the returns for participants. The transaction fees charged is utilized to repurchase and burn the platform token, which contributes to materializing a self-driving closed loop for value capture.MDEX is now available on Huobi Eco-Chain (Heco) and Binance Smart Chain (BSC). Users can use MDEX Bridge to realize cross-chain interoperability between Heco, ETH and BSC.

MDEX is committed to building a DeFi platform that integrates DEX, IMO, and DAO. In doing so, it seeks to provide one-stop liquidity services for more high-quality assets, and at the same time offers users a more secure, reliable, diverse, and cost-effective transaction experience.Choose MDEX.COM for best trading experience, most economical trading cost and fastest trading speed.

Website: https://www.Mdex.com/

Global Telegram: https://t.me/MdexEN

Official Channels: https://t.me/MixDexAnn

Launchpad:

https://launchpad.binance.com/en/subscription/MDX_BNB

Whitepaper:

https://www.Mdex.com/cdn/pdf/MDX%20Litepaper%20V2.0.pdf

Research Report:

https://research.binance.com/en/projects/Mdex

On January 19, liquidity mining & trading mining were open; the liquidity of the day reached US$275 million; and the transaction volume amounted to US$521 million.

On January 24 (18 days after its launch), the single-day transaction volume exceeded US$1 billion.

On February 1 (26 days after its launch), the liquidity exceeded US$ 1 billion.

On February 3, the Boardroom (Board of Directors) mechanism was launched, and the MDEX ecological fund, worth $15 million USD in MDEX was established.

On February 19, the single-day transaction volume exceeded US$2 billion.

On February 25th, MDEX ranked first in the CoinMarketCap global DEX rankings. It accounted for 53.48% of global DEX trading volume. The daily transaction volume reached a whopping $5 billion USD.


March 10 marked 51 days of MDEX being live. The cumulative transaction volume exceeded $100 billion USD.

The transaction fees over the first two months were over US$340 million. The platform’s 7-day transaction fees rank 3rd, only after Bitcoin and Ethereum.

Within two hours of launch on Binance Smart Chain, the TVL of MDEX exceeded $1.5 billion. The total transaction volume exceeded $268 Million and the TVL on HECO and BSC is now over 5 billion.


Now we have more than 188,800 daily visits from all over the world


And on May 25th, MDEX has launched its 1st phase of IMO, and you can see some highlight data.


Now you can save your MDX on Binance for a 30% APY.

https://twitter.com/Mdexswap/status/1405758019963478019?s=20

Done

Car Marz | CryptoBooster:

Wow very impressive numbers, which show the achievement of MDEX so far..

It is amazing, it is our honour to have an AMA with such a great project. Thanks for your kind introduction, now let’s move on.

Let’s go to the Twitter Questions! We have 5 twitter questions for you, are you ready?

5 users questions from Twitter have been selected

Q1. How did the idea of building a product like MDEX come about? What is MDEX’s difference from other platforms? @colorful_cassie

MdexKiko2021 | MDEX:

The current processing speed of the Ethereum network is about 15 transactions per second. A Swap operation on Uniswap takes about 20 seconds on the condition that the internet works smoothly. Once the Ethereum network is congested, users generally need to wait for more than 1 minute, and may even encounter a transaction failure.

MDEX is backed by the Huobi ecological chain Heco. Taking advantage of Heco’s public chain performance, MDEX’s Swap operation time takes about 3 seconds, so users have almost no sense of delay. The trading experience can almost catch up with centralized exchanges.

Transaction fees are critical to user experience. The levels of fees charged directly determine users’ revenue from each transaction.

According to data from EthGASStation, Uniswap users have spent a total of 31,500 ETH on GAS in the past 30 days. A transaction on Uniswap may cost the users 3 to 5 US dollars. The speed of the transaction is undesirable. If you want to complete a Uniswap transaction faster, the GAS fee may be as high as 20 to 30 US dollars, which are rather expensive for ordinary DeFi users.So in order to solve the problem on ethereum, we start to launch on HECO, BSC and other chains.

If the future, we will deploy on more public chains, this will allow our users to experience multi-chain transaction.

Done

Car Marz | CryptoBooster:

Thank you for this great reply 🙏

Let’s move to the next Twitter question

Q2. What’s the benefits of using MDEX to normal traders? Would you kindly give us a detailed introduction? @Casey

MdexKiko2021 | MDEX:

1. Mdex has deployed dual chains (BSC+HECO) and supports asset cross chain bridges, which is convenient and fast for ordinary users;

2. Complete product functions: liquidity mining, transaction mining, Boardroom , IMO, repurchase and destruction, etc., to meet the various transaction needs of users.

3. MDX will be rewarded for any transaction mining, and ordinary users can experience transactions with a handling fee of about 0, with almost no loss.

4. The trading depth of mainstream currencies is always in the top 3 of the entire network, and users can experience transactions with the lowest slippage loss to protect users’ interests.

5. As the leading exchange in the defi industry, MDEX is safe and stable, and trading with confidence is the core demand of ordinary users.

Done

Car Marz | CryptoBooster:

Thanks another great one, certainly many good reasons to use MDEX 💪🏽💪🏽🙌🙌

Let’s go for another one 🔥🔥

Q3. Can you please tell us more about your tokenomics? @zhang01644224

MdexKiko2021 | MDEX:

The total supply of Mdex’s platform token MDX is about 1 billion, of which 10% is used as a team reward for team operation, technology research and development, etc., and it will be unlocked in 24 months after being launched by smart contracts. 7% is used as an early investor share to provide more sufficient and beneficial funds and resources for the development of Mdex; 3% is used for market promotion and brand building; these two shares are unlocked in twelve months after going online. The remaining 49% and 31% are used for liquidity mining and trading mining on HECO and BSC respectively.

MDX application scenarios


As the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used in the following scenarios.

Governance tokens

MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and destruction of tokens. The list is as follows:

1.1 Voting

The comprehensive evaluation is made according to the transaction volume and total value locked of the project, and the MDX users vote for the decision.

1.2 Repurchase and destruction

MDX will charge 0.3% of the transaction fee, and 66% of the total fee income will be used to repurchase and burn MDX and buy HT to airdrop to users who mortgage MDX. Among them, 40% of the above allocation ratio is used to repurchase and destroy MDX, and the remaining 60% is used to purchase HT for airdrops to MDX pledgers, and the chain is transparent.

2 Standard fundraising tokens

MDX is also a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on the MDEX platform. It’s similar to use ETH to do ICOs on the Ethereum platform and will have greater value as IMO is widely used.

Done

Car Marz | CryptoBooster:

Thanks, many use cases for the token.. For sure great for the holders to have all these benefits 💪🏽💪🏽

Another one is coming 🌪🌪

Q4. Will multi-chain deployment and multi-chain interoperability become the new DEX development direction? What do you think is MDEX’s core competitiveness among DEX in the future?@kangkan61270989

MdexKiko2021 | MDEX:

The development direction of DEX must be the one that provides good user experience, guarantees benefits, protects investment. Any project that does not live up to these expectations will surely fail. DEX’s competitive landscape is inevitably multi-chain deployment and interoperability, because for both DEX or CEX, the core is value exchange. If you can only interact on one chain, it is nonsense to dream of value hubs where tokens flow freely. So multi-chain deployment is a major trend in the development of DEX.

The core competitiveness is as follows: transaction mining subsidies (0 fees), low slippage, depth of mainstream tokens, which can be boiled down to good user experience. Mdex will keep forging ahead, expanding the boundaries for the platform and also for the DeFi industry.

Done

Car Marz | CryptoBooster:

Thanks a lot, as you know we like Multi-chain too 💪🏽💪🏽 😃

Let’s move to the last Twitter question

Q5. What are the future development plans for MDEX? @AirCar10

MdexKiko2021 | MDEX:

The core competitiveness is as follows: transaction mining subsidies (0 fees), low slippage, depth of mainstream tokens, which can be boiled down to good user experience. Mdex will keep forging ahead, expanding the boundaries for the platform and also for the DeFi industry.

(1) Launch DAO plan: return all the power to the community. MDEX will initiate the Boardroom member election plan to sel and obtain high income dividends, while normal users can participate in governance and receive corresponding rewards through MDX voting.

(2) Start long-term lock-up plan: to encourage MDX holders who are optimistic about MDEX’ long-term development. We will start long-term lock-up plan and invest more money and equity for rewards.

(3) Develop more products to bring users more income: share the dividends from MDEX’s growth. Transaction fees will only be one of the many platform sources in the future. Despite that, we will reward MDX holders with any product income through rewards/repurchase and burn, and so on.

The iterative development of MDEX once again demonstrates the innovation that DeFi brings to the blockchain industry. From the original intention at the beginning of the project to the future development MDEX will always prioritises users’ interests. Taking the transaction as the starting point, our broader vision is to build a composite DeFi ecology that integrates DEX, IMO, DAO. On June 4, MDEX released the latest Roadmap. In the third quarter, we will expand the ecological map horizontally, by building more innovative products, and supporting the minting of stable coin MUSD in various ways such as overcollateralization, liquidity certificate LP collateralization, and Boardroom MDX collateralization. In this way, MDEX will gradually launch a series of innovative derivatives such as leveraged transaction, option transaction, and market prediction, etc.. MDEX will continue to prioritize the development of IMO, MDEX Foundation and M-Accelerator to create a new DeFi ecology for MDEX. At the same time, MDEX will implement the DAO plan, and return all the rights to the community; start long-term lock-up plan to bring high returns to the core supporters.

MDEX will build a new business ecology that covers all application scenarios and has lower the usage threshold but is connected to all other chains to provide global users with more convenient, high-performance, low-cost and non-discriminatory financial services. This will also allow MDEX to realize fair asset pricing, instant transaction settlement, and free flow of value.

Link to the roadmap announcement:

https://mdexcom.zendesk.com/hc/zh-cn/articles/4401790369812

Done

Car Marz | CryptoBooster:

Thank you so much, this is massive news for all of us, it is clear that MDEX has already achieved a lot.. but we can expect much more to come 💪🏽💪🏽

now let’s move on to the next part of our AMA

I know you all like this a lot 💪🏽💪🏽😃😃🌪🌪🔥🔥💥💥

Part 2 — live questions from the Telegram community

Q1 from telegram username @Lucy_OG

Can you please share about the MDEX Community M-Angel Plan program. What is the goal of this program? What is the benefit and mission of being a M-Angel? How can I register?

MdexKiko2021 | MDEX:

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 could be 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 could apply to be our M-angels, if you could contribute content output, publicity channels, user cultivation, technical cooperation, or you are an influencer.

By doing so, MDEX will give you reasonable token returns, and you have the chance to become a project ambassador, get special invitations for online and offline activities or participate in DAO governance.

If you are interested, please check out the details here: https://mdexdoc.gitbook.io/doc/activity/mdex-is-launching-its-second-round-of-m-angel-recruitment

Q2 from telegram username @starshades007

Security is the most important thing to consider want starting up a project, how secured is this project for users and investors?

Mdex smart contract is safe and well audited by a reputable auditing firms such as codeSafe, certik. Users funds are secured and users don’t store their funds on our platform, they have control of their funds. You can check our audit report on our website www.mdex.com (http://www.mdex.com/)

Q3 from telegram username @emiliatan3

Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?

MdexKiko2021 | MDEX:

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. 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.

Q4 from telegram username @Ameya5

I think many people here are quite interested in the $Mdex token, both utility and structure… how does $Mdex work as a utility token for the network and how does it benefit for both the network and the owner

MdexKiko2021 | MDEX:

Mdx token is a utility token which is the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used as Governance tokens.

MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and burn of tokens.

Also MDX is a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used. Mdx holders will be able to participate in our IMO.

Q5 from telegram username @zr19991113

Will you have NFT exit in the future, and in what form?

MdexKiko2021 | MDEX:

Yes, NFT business will be carried out about Mdex mascot in the future. For more information, please pay attention to our group notice which will keep you informed of the whole progress.

Part 3 — Quiz Results

For the third part, Multi-Chain Team asked the chat 5 questions about the MDEX crypto project.

Q1:

Which is the maximum daily transaction amount of MDEX since its launch?

A.4.25 billion B.4.85 billion C.5.05 billion

Q2:

When did mdex launch on Binance Smart Chain?

A. April 2th B. April 6th C. April 8th

Q3:

Which token will be used for the gas fee when swap on mdex.com (BSC Version)?

Q4:

When did mdex smart contract get triggered and the repurchasing and burning will be automatically executed?

A: Whenever the market price is lower than the 3 days average price

B. Whenever the market price is lower than the 2 days average price

C. Whenever the market price is lower than the 24 hours average price

Q5:

For the mdex 1st phase of IMO, how many funds over raised?

A. 25,726.00%

B. 10,726.00%

C. 20,726.00%



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