Mdex MDX

MDEX is a new decentralized trading protocol that launched in January 2021.

MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO), which gives it access to the liquidity of the Ethereum ecosystem.

A trading platform built on top of HECO, MDEX has an estimated cost for token swaps at $0.001 for each trade, with a transaction speed of three seconds.

The vast majority of DeFi projects live on the Ethereum network as ERC-20 assets, but it is facing problems with expensive gas fees and slow transaction speeds during its transition to Ethereum 2.0.

Most newly-developed protocols heavily consider scalability factors in their choice of blockchain networks if they want a fast adoption rate. Uniswap at least had an early-mover advantage, since it launched before the Ethereum network became heavily congested — and some say that Uniswap itself is one of the main reasons for the network’s congestion, However, Uniswap’s market majority could change really fast if second-layer solutions are not rolled out in time and deliver their expected results.

For this reason, the Huobi Ecological Chain-based Mdex claims a unique characteristic of being based on a chain that aims to avoid scalability problems.

Huobi, the Seychelles-based crypto exchange founded in China and listed in Hong Kong, is a cryptocurrency trading platform. Huobi officially launched its eco-chain HECO in December 2020: the new platform claims to have a maximum 500 transactions-per-second (TPS) rate, transaction confirmation time of three seconds and a gas fee of $0.001.

Mdex is trading on markets including Huobi Global, Gate.io and the MDEX exchange, among others.

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