DEX Leader MDEX Integrates Binance Smart Chain (BSC)

 
SINGAPORE - April 8, 2021 - PRLog -- In a bid to expand its ecosystem, leading decentralized exchange MDEX has integrated Binance Smart Chain (BSC), officially completing the deployment today April 8 at 8.30 PM (UTC + 8). Five seconds after integration, MDEX reports a TVL (Total Value Locked) of more than USD 0.5 billion.

The BSC integration includes functionality in liquidity mining, single token staking, transaction mining and cross-chain asset services. Users can now use the MDEX Bridge to realize cross-chain interoperability between Heco (Huobi Eco-Chain), and BSC.

BSC and Heco Solve Issues of Congestion and High Fees on Ethereum

According to MDEX CTO Sky, after Heco, BSC integration was always the plan.

"Like Heco, BSC was developed to target the congestion and high fees on the Ethereum network," states Sky. "Both are also supported by CeFi resources."

According to Binance, the Binance Smart Chain was envisioned as something of an extension to Binance Chain. With dual chain architecture, both chains are complementary – Binance Smart Chain caters to decentralized applications (dApps) without congesting the original chain, which is optimized for ultra-fast trading. These features make it efficient and very much optimized for running dApps, and transacting at a lower fee.

Indeed, the advantages associated with the BSC network make this move critical. A recent report announced that Binance Smart Chain overtook Ethereum in daily transaction amount, courtesy of its low fees and fast transaction architecture.

One of the crucial attributes that make blockchain-based transactions unique is reduced costs. The Ethereum blockchain has been unable to live up to its name in this aspect, with current transaction fees above USD 20. It even soared to an all-time high of USD 43 on Feb 23.

MDEX Sets Eyes on Market Expansion with BSC

This makes the current decision a well-calculated one. Being one of the few projects on both BSC and Heco, MDEX is positioning itself in the current move to be a serious contender in the ecosystem.

Dubbed the "Heco golden shovel" in Chinese crypto circles, MDEX has dominated the Huobi Eco-chain, carrying about one-third of the TVL (Total Value Locked) of the asset locked-up value.

Having hit the Heco ceiling, for MDEX, the BSC integration is undoubtedly a move to cover new fertile ground. BSC currently supports more than 100 currencies across the chain with a total market value of more than USD 84 billion. Entering the BSC ecosystem is an opportunity to increase both TVL and trading volumes.

For more details about MDEX, visit the Official Website: https://mdex.com/#/

Read more: https://www.prpocket.com/2021/04/dex-leader-mdex-integrat...
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