🔔Recap AMA BC Blue Sky Ventures & Mdex

On September 28th 2021, our community had a chance to Kiko – Marketing Of Mdex to join in an AMA to give fruitful information about the key features and roadmap of Mdex – A composite DeFi ecosystem that integrates DEX, IMO, and DAO.

🗓Time: 13:00 PM UTC / 20:00 PM UTC +7 Tuesday, September 28th, 2021

🏠Venue: https://t.me/BCBlueSkyVentures

🎁Reward: 100 USDT

Question for Part 1- Project overview

Question 1. Firstly, can you give me brief introduction about your management team and MDEX ?

Kiko:

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.

Question 2: Please share a few major milestones of MDEX during its development process

Kiko: He future landscape of DEX is inevitably multi-chain deployment and interoperability, because for both DEX and CEX, the core is value exchange. If users can only interact on one chain, then the token can not flow smoothly. Value hub then is out of the question! Therefore, it is the inevitable trend to have multi-chain deployment in DEX.

MDEX was officially launched on January 19, 2021 for transaction mining and liquidity mining, and on June 5, 2021, MDEX implemented its first halving. In the past six months, MDEX has successfully deployed on both chains (i.e., HECO and BSC). The highest TVL on dual chain exceeded $5.7 billion, and the cumulative transaction value exceeded $340 billion.

On February 6 2021, MDEX opened the Boardroom repurchase and burn pool to automatic execute MDEX repurchase and burn when the repurchase price (72-h average price) is triggered.

Otherwise, the funds will keep going into the repurchase pool. Up till now, MDEX has burned 59.93 million MDX tokens and the total repurchase funds used has exceeded $160 million. MDEX Boardroom has distributed a total of $220 million rewards.

To enrich MDX application scenarios, the first “Burning Black Hole” burned more than 464,000 MDX. Deducted by the MDX rewards distributed, the final actual burning exceeded 417,600 MDX; the first IMO (Initial Mdex Offering) attracted more than 8,874 people with the total amount of assets of more than $387 million.

Question 3: Could you share with us your plan to expand locally as well as globally?

Kiko: 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

Part 2: 5 questions pre-collected by Twitter

Question 1: Many don’t talk about the great risk associated with staking and liquidity Minning. I have been affected badly by Impermanent Loss (IL). What features does MDEX Platform have safeguarding assets of traders / investors from impermanent loss in token pools?

Kiko:

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.

Question 2: @LukasDuong1

I read from your Medium MDEX aims to lay a foundation for accelerating the ecological construction of DEFI from HECO, as i know DEFI also covers many things like lending and borrowing, insurance, NFT… Which one do you plan to add in next development?

Kiko:

MDX owners are the most loyal builders of MDEX. MDX will be the only core token of MDEX ecology, and the only beneficiary of all the growth dividends of MDEX. Next, MDEX will implement the plan at three levels:

 (1) Launch DAO plan: return all the power to the community. MDEX will initiate the Boardroom member election plan to select 21 super directors through MDX voting. Candidates selected have the right to initiate proposals 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.

Question 3: @JohnHick23

Mdex enables asset cross chain bridges and has implemented dual chains (BSC+HECO). Could you perhaps explain why you chose dual chains and why you chose BSC and HECO? Could you explain the advantages of having two chains in a platform?

Kiko: The support by HECO and BSC is definitely the factor for MDEX’s leading position. But apart from that, the distinctive strengths of its products also play a key role in its popularity in the market.

Excellent product design, the handsome revenue for early miners, etc., all contribute to the concentration of traffic to MDEX. With the iteration of the product, MDEX will have more and more functions, provide better user experience and enable more profit opportunities. When deployed on public chains, I think MDEX will receive popularity from their users as well.

Multi-chain deployment, cross-chain protocols, the burning mechanism, the new market function, IMO, etc., all these innovative features have received welcome in the market.

MDEX has never ceased to explore a broader space where it will make further growth.

As the saying goes, “If the flowers bloom, the butterflies will come”. MDEX upholds the principle of prioritizing users’ benefits and firmly believes that as long as there is a wealth effect, people will join MDEX.

Question 4: @Jaki73364096

What kind of partnerships with different projects/platforms/protocols can we expect from MDEX in the future? Could you give us some examples of how other projects can leverage MDEX?

Kiko: Partnership is more improtant for the development of a project.

We focus on expanding Mdex and our future development can not be separated from the significant support.

We already have some partnerships and also working on more collaboration and partnerships with some valuable firms. You can check our website to find our existing cooperative partners https://mdex.com/#/

Partners can realize resource sharing and ecological construction, so they can bring more traffic to MDEX and provide more innovative ideas, which is conducive to making MDEX more successful.

Question 5: @LuckySkow5

Is $MDX a deflationary coin? I noticed one of your use cases is “Rebuy and destroy $MDX”, can you share with us why? Do you have a burning and staking system for $MDX, what are your rates?

Kiko: 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.

As of August 31, 2021, MDEX dual-chain (Heco&BSC) had repurchased and burned totaled 83 million MDX, with an average daily repurchase and burn volume of 370,000 MDX and a total repurchase amount of more than $186 million.

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.

These functions of MDEX, such as “smart contract’s automatic repurchase and burn mechanism” and “market information function” mentioned above, rank No.1 in DEX industry in the world.

Besides, there are more products such as “IMO”, “Burning Black Hole” campaign, “Invitation Reward Mechanism”, and “DAO”,etc. Each function of them endows MDEX new “tricks”, which truly realizes the re-innovation of product functions in the course of decentralization.

Part 3: Guests will chose 5 best live questions from members to answer directly in the group

Question 1: Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously? @msessi

Kiko: Yes, we agree with you, NFT is a hot topic now, MDEX probably will introduce them in the future to enrich the ecology but it needs to be done step by step. If there is any adjustment or enhancement of the operation strategy, we will announce it through official channels as soon as possible. Stay tuned with our official account.

Project Links to share with audience:

Official website: www.mdex.com

Discord: https://discord.gg/3TYDPktjqC

New Medium account: https://medium.com/@MdexOfficial

New Twitter account: https://twitter.com/Mdexswap

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

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

MDEX Russia: https://t.me/MDEXRUSSIA

Question 2: Partners are very important for every project today, may I know which  partners you have now? and which partners in the future you will be heading to? @Woo66677

Kiko: Yes, partnership is more improtant for the development of a project. We focus on expanding Mdex and our future development can not be separated from the significant support.

We already have some partnerships and also working on more collaboration and partnerships with some valuable firms. You can check our website to find our existing cooperative partners https://mdex.com/#/

Partners can realize resource sharing and ecological construction, so they can bring more traffic to MDEX and provide more innovative ideas, which is conducive to making MDEX more successful.

Question 3: What are the main features of the Project that make it easy for users to see the difference in the way it works and what novel features are better than other projects?  What advantages and competitive factors make you confident to dominate the DeFi market in the near future? @bonnava

Kiko: As the data ecology on the public chain Ethereum continues to expand, the problems of high gas fees, slow block confirmation, and high transactions slippage on dex transactions, as represented by UniSwap, receive increasing criticism users. By taking the advantage of high TPS performance of HECO and BSC, MDEX greatly solves the problems of high gas fee and long confirmation time. When flowers are fragment, butterflies will come. Since Mdex’s launch on  BSC on April 8, the excellent BSC ecology has given Mdex a huge boost to realize further development, which is why Mdex’s transaction volume, lock-up volume and the number of users reached record high.

Question 4: Cryptocurrencies are not so popular in Southeast Asia market, some countries like Vietnam, Philippines, Indonesia, etc. Do you have any plan to reach these potential crypto countries? @Rolling562

Kiko: MDEX is the world’s leading DEX and has enthusiastic users all over the world. This is because we provide innovative products that no other DEX has, and we will continue to evolve our products to provide a better user experience for our users. We believe that providing a good user experience will naturally increase the number of users, and we will continue to focus on the development part. We are also running a local language community in  Southeast Asia, where we can quickly respond to feedback from users and provide a place where everyone can have fun and deepen their understanding of MDEX.

Question 5: Do you have a Token Burning plan to increase Token value and attract Investors to invest? @yoajib129

Kiko: On February 6 2021, MDEX opened the Boardroom repurchase and burn pool to automatic execute MDEX repurchase and burn when the repurchase price (72-h average price) is triggered. Otherwise, the funds will keep going into the repurchase pool. Up till now, MDEX has burned 59.93 million MDX tokens and the total repurchase funds used has exceeded $160 million. MDEX Boardroom has distributed a total of $220 million rewards.

To enrich MDX application scenarios, the first “Burning Black Hole” burned more than 464,000 MDX. Deducted by the MDX rewards distributed, the final actual burning exceeded 417,600 MDX; the first IMO (Initial Mdex Offering) attracted more than 8,874 people with the total amount of assets of more than $387 million.

For the next step, MDEX will expand its brand influence overseas so that more and more users can learn about MDEX’s transaction mining, liquidity mining and more upcoming application scenarios

For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:

Telegram: https://t.me/MdexEN

Twitter: https://twitter.com/Mdexswap

Website: https://mdex.co/#/

Medium: https://medium.com/@MdexOfficial

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

MDEX Russia: https://t.me/MDEXRUSSIA

Trả lời

Your email address will not be published. Required fields are marked *.

*
*
You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>