We just finished our AMA with MDEX

Q1: Kindly Introduce yourself and MDEX project to our community !

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.

Q2: What is mdex all about and what kind of problems are you trying to solve?

The concept of DeFi has already launched in the market in 2018. But at that time, DeFi did not arouse huge attention from people and many users did not understand the actual benefits DeFi can bring. Until the popularity of Uniswap rising fast in a short time in 2020, a large number of users began to pay attention to DEX, and then have deep impression on DeFi. However, the skyrocketing price of Ethereum has caused congestion in transactions and high transaction fees.
Thus, it is difficult for ordinary investors to bear the transfer fees of tens of hundreds of dollars for a single transfer, which gives other public chain opportunities. With the large-scale promotion of BSC public chain and HECO public chain, MDEX was born under such an opportunity with the high-performance advantages of HECO and BSC.

MDEX.COM is a decentralized cross-chain transaction protocol that supports BSC and HECO, long ranking No.1 on the DEX rankings of CoinMarketCap and CoinGecko.

It combines the advantages of low transaction fees on the Huobi ECO Chain and prosperity of Binance ecosystem, aiming at creating a high-performance composite DEX ecosystem, providing maximized rewards for participants with the "dual mining mechanism" of liquidity mining and transaction mining. It also manages to realize a closed and self-driven loop for value capture through using its transaction fees to repurchase and burn MDX.

The original intention and vision of MDEX is to start from trading, commit itself to building a DeFi platform integrating DEX, IMO, and DAO. In this way, it provides one-stop liquidity services for more high-quality assets, and offers users with safe, reliable and cost-effective transaction experience with diverse and high-quality assets.

Q3: Can you tell us about your best achievements right now and also your main focus at the moment?

MDEX officially launched transaction mining and liquidity mining on January 19, 2021, with safe and smooth operation for more than half a year. During this period, MDEX successfully implemented Dual-Chain Deployment and launched on the Huobi Ecological Chain (Heco) and the Binance Smart Chain (BSC).
As of August 31, 2021, MDEX transaction mining subsidies and liquidity mining rewards have produced a total of 646 million MDX, worth over $900 million, and the MDEX boardroom has completed a total of about $480 million in rewards; MDEX daily transaction volume ranks No.1 in CoinMarketCap and CoinGecko of the global DEX rankings, and still keep topping the list; the cumulative transaction volume of last six-month has exceeded $400 billion. MDEX Dual-Chain Deployment (Heco&BSC) TVL exceeds US$2.5 billion.
On February 6, 2021, MDEX launched the Boardroom Repurchase and Burn Pool, the world’s first smart contract that automatically executes the repurchases and burn mechanism.

In order to give MDX more ecological application scenarios, MDEX has launched a number of product functions:

1. In the first phase, the number of participants of IMO (Initial Mdex Offering) exceeded 8,874, with a total transaction amount of $387 million;

2. Up to now, 13 "Burning Black Hole" campaigns have been launched, with more than 1.91 million MDX being burned.

Global expansion will be a focus of MDEX’s operations in the near future. It will expand MDEX’s brand influence in the entire DEX industry, so that more and more users can understand the use of MDEX transactions, namely mining, liquidity mining, and subsequent ecological scenarios.
This is the data performance of MDEX in August, let’s take a look!

Q4: Can you give us an overview of the mdx tokenomics?

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.
1. 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 MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used.

Q5: I read through an announcement that you did a second halving for mdx, can you tell us a bit about this event?

The second halving of MDX, combining with the existing trident - repurchase and burn mechanism, Burning Black Hole campaign, and Boardroom lock-up product, will bring MDX into the era of low inflation, which is good news for MDX.
MDEX governance token MDX halved for the second time at a block height of 7925600 on HECO and 10592800 for BSC on September 3, 2021.

After this halving, the number of rewards per block is cut by 50%, from the previous 40MDX per block to 20MDX per block, thus the daily output of MDX reduces from 2.3 million to 1.15 million on both HECO and BSC

Q6: Can you explain to us the boardroom lock up function ?
How its work and its benefits for the dex and the users?

MDEX launched the Boardroom Lock-up function on July 17, marking another step towards DAO. Up to now, the MDEX’s double-chain lock-in market capitalization has exceeded $600 million, MDX lock-in rate of 89.62%, MDX with more than 30-day lock-in volume accounting for 62.93% of the total circulation, and only 6.4 % of actual circulation of MDX.

MDEX has been maintaining outstanding performance because of its premium products. On the one hand, it creates differentiated liquidity mining and transaction mining functional value for its users. On the other hand, the Boardroom staking lock-in gives users more rights and interests, allowing MDX holders to enjoy long-term ecological benefits and governance rights.

For the 365-day lockup of MDEX boardroom, the APY is over 500%, and users can choose to lock up their assets for 30 days, 90 days, 180 days or as a demand deposit. Although the lock-up APY might fluctuate, it is still ranking on top among its peer products on the market.

Q7: As i understand mdex launch a plan to support ecological projects, can you tell us the reason behind this plan and what is the progress on that matter?

The Hunter plan is the MDEX Foundation’s development support plan for the global ecology. The Hunter plan has a total of $10 million, giving priority to fund projects that share MDEX’s philosophy, including high-quality projects like Metaverse, DeFi, GameFi, and NFT.
The main goal of the Hunter plan released by the MDEX Foundation this time is to continuously consolidate the platform business, enrich the platform transaction diversity, provide financial support for high-quality projects, and assist project parties to expand broader ecological resources, and fundamentally promote the entire ecosystem develop.
The MDEX Foundation released the latest information on September 1. It announced that on the basis of the Hunter plan of 10 million US dollars to support ecological projects, an additional 20 million US dollars will be used to support the high-quality ecological projects in the initial issuance stage, like the Huobi Ecological Chain (Heco) and the Binance Smart Chain (BSC).

These ecological projects in the initial issuance stage supported by the MDEX Foundation will have an opportunity to be issued on the MDEX IMO (Mdex initial offering) sector. At that time, the users who hold MDX on the MDEX platform can receive air-drop of the project tokens through the lock-up MDX mechanism at 0 cost.

The project parties can submit an application to MDEX. After review being passed, they will gain as follows:

(1) MDEX Ecological Foundation will increase $50,000 liquidity to the project on MDEX;

(2) If TVL is greater than or equal to $50 million for 7 consecutive days, MDEX Ecological Foundation will increase $150,000 in liquidity to the project;

(3) After projects attain over $2 million in liquidity and $3 million transaction volume, there will be a chance to open liquidity mining rewards, and the platform will increase another $300,000 in liquidity to the project.

You can also check the specific plan details in the official website announcement .

Q8: Can you tell us a bit about governance in mdex platform?
What is its mechanism and what determine the voting power?

the development of MDEX follows the essence of blockchain-DAO autonomy. The core charm of DAO is that the benefits and value created in the community will be shared by all contributors fairly. The enabling of DAO autonomy by MDEX provides MDX holders with the chance to have a stronger sense of belonging to MDEX, making MDEX truly enter the era of community autonomy and win-win. This, will further allow the community to have more rights to make independent decisions and platform operations to be more transparent and decentralized.

MDEX’s upcoming DAO governance rules are as follows:
1. All holders of Boardroom Lock-up MDX will receive the official DAO governance voucher tokens issued uniformly. The governance voucher can be used in the following scenarios :
1)Voting for favored Directors and community proposals
2)Participate in the IMO;
3)Running for Director.

2.With the governance voucher, you will get the right of DAO governance
1) Stake a certain amount of governance vouchers, so as to participate in the Director Elections. The users can vote for their favored directors.
From the beginning of each natural month to the end of the month, 30 days, and according to the order of an average number of votes, the 9 address holders with the highest number of votes become the 9 directors.
After all directors are successfully elected, the election stays valid for one natural month.
2) All users who hold governance vouchers can initiate community proposals, and further submit them when staking a certain amount of governance vouchers.
3) Directors can choose the community proposals they support. Proposals supported by no less than 5 directors can enter the community referendum.
4) All users vote on the proposals. During the voting period, the proposal with the most votes will be approved and finally executed by the MDEX team.

Q9: I just read that recently you launched something called "Invitation Mechanism", how does it work and how can it benefit your users ?

The Invitation Mechanism is not an innovative product of MDEX. At present, several leading CEXs in the industry have this mechanism for a long time, and some other DEX platforms have also launched the functions of invitation with good feedback. People who invite friends to do transactions on MDEX not only enjoy platform commission but also save service fees for their friends.

This is in line with the original intention of providing users with a cost-effective transaction experience and giving users benefits at the beginning of MDEX’s establishment. This Invitation Mechanism achieves a lower cost of centralized transactions and meets users' demands.

After the functions of invitation are launched, the MDEX team may hold similar activities such as team transaction competitions in the follow-up operation plan. This can effectively promote the activity of the platform and allow more people to learn about MDEX. The more the transactions on MDEX, the more transaction fees, and the more the number of MDX repurchased and burned, creating a benign closed loop.

Q10: Smart contracts are still, prone to bugs. How secure, is your smart contract? so that we believe, Your project is safe and good for the future of investors???,"

MDEX has been committed to becoming a compound DeFi ecology that integrates DEX, IMO and DAO. Since its launch, it has been prioritising security and correctness of its smart contracts and blockchain-based protocols. Up till now, it has passed the audits by three major auditors, namely Fairyproof, SlowMist and CERITKS.
MDEX has been operating safely and smoothly for 5 months since its launch, and as the functions of MDEX are gradually improved, it has expanded from HECO to BSC and ETH. In future, it will incorporate more underlying assets in the MDEX ecology.
While growing steadily, MDEX has been protecting the asset security and transaction security of users. MDEX has launched a bug bounty campaign which serves as a bridge for more blockchain security researchers to safeguard users asset security and joint lybuild a better MDEX ecology. Meanwhile, for projects to enter MDEX whitelist, they must be compliant projects that have audit reports from authoritative auditing agencies.

Q11: Can you list 1-2 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

These are the advantages of 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: liquid 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.

Q12: Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?

Another difference between MDEX and other Swaps lies in the "repurchase and burn" mechanism and "Boardroom reward pool". It is through them that MDEX returns the fees contributed by users to users.

MDEX’s platform revenue comes from the 0.3% transaction fee, of which, 0.1% will be used to promote the development of the MDEX ecology, 0.14% to reward miners through the Boardroom reward pool, and 0.06% to repurchase and burn MDX. MDEX will inject a corresponding percentage of the daily platform fees into the repurchase pool. The repurchase and burn will be automatically executed by the smart contract when the repurchase price (72-hour MDX average price) is triggered. Otherwise, MDEX will continue to accumulate the platform income into the repurchase pool.

Q13: Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?

Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?

Here are some guides:

Boardroom Lockup Tutorial:

Instruction for mining on MDEX:

How to conduct trade mining in Mdex (Mobile Version):

How to conduct liquidity mining (Mobile Version):

How to conduct liquidity mining (PC Version):

How to cross-chain MDX to BSC:

You can search for more guides in our gitbook https://mdexdoc.gitbook.io/doc/yong-hu-zhi-nan

And videos are in our Youtube channel: https://youtube.com/channel/

Q14: Your project has great features. Do you have an AUDIT certificate or are you working to AUDIT your project to make project security more secure and reliable?

Up till now, MDEX has passed the audits by three major auditors, namely Fairyproof, SlowMist and CERITKS.

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