Surpassing Uniswap Volumes, MDEX CMO Reveals How

SINGAPORE - Feb. 25, 2021 - PRLog -- Dubbed the "DeFi Golden Shovel" in Chinese cryptocurrency circles, MDEX (https://mdex.com/) is a brand new DEX (decentralized exchange) which launched only a month ago on January 19 2021.

Their spectacular numbers at DeFiBox (https://www.defibox.com/) have certainly been raising eyebrows:

• Highest daily transaction volume – USDT 5 Billion (latest update) https://twitter.com/Mdextech/status/1364448234387632130
• Total Volume Locked (TVL) – USDT 2.060 Billion
• Over USDT 100 Million Transaction Mining fee subsidies for users
• Over USDT 40.5 Billion in total transaction volumes
• Over USDT 15.7 Million in total repurchases of MDX tokens with a real-time deflation rate of 5.96%
• Over USDT 13 Million in total rewards paid out
• Total market value of MDX mining output is USD 628 million
• MDX token value has risen from USD 1 to USD 6.5

We speak to MDEX.COM CMO Kiko to get the lowdown on these statistics.

Q. You have managed to overtake Uniswap as well as Sushiswap in your recent daily transaction volumes and generally maintained daily trading volumes in excess of USD 1.5 billion. How is it possible for such a new DEX to generate such high trading volumes?

I do believe our platform is a quality product. MDEX has differentiated itself from the market with our unique "dual mining mechanism", where we implement both transaction mining and liquidity mining. The user experience was designed to be excellent for both projects and users. Furthermore, our low handling fee of only 0.1 cent per swap means that 1 USDT of HT can support nearly 1,000 swap transactions. This is combined with low slippage, good depth and high APY for transaction and liquidity mining. In transaction mining, the MDX platform tokens mined can subsidize the handling fee and there is room for appreciation, another benefit.

An important point is our 'chemistry' with the Huobi Eco-Chain (Heco). Operations between Huobi Exchange and MDEX.COM are configured to be user-friendly and simple.

In a nutshell, I would say there are three winning factors: the "dual mining" issuance mechanism of liquidity and transaction mining; the value of the MDX tokens through our mechanism of repurchasing, destruction and rewarding (liquidity providers); and community governance, with regards to any major decision-making in the community.

Q. Please tell us more about the "dual mining" mechanism of MDEX. Why is this design advantageous and is the high APY (Annual Percentage Yield) sustainable?

MDEX.COM is the first "dual-chain dual-mining" DEX on the Huobi Eco-Chain. Based on the Huobi Eco-Chain and Ethereum, we implement both transaction mining and LP (liquidity pool) mining.

To read more, visit: https://thebitcoinnews.com/surpassing-uniswap-volumes-mde...