MDEX AMA Recap

MDEX AMA Recap
MDEX AMA Recap
Cryptodiffer Team
Hello, everyone!😁 We are glad to meet here Kiko, CMO at MDEX, (@MdexKiko)
Hello, everyone!
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
Welcome Kiko, thank you for taking your time today! Our team has prepared 3 questions for you to start with!
Thank you Maks. I'm glad to be here.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
Let`s start with the introduction! Q1: Can you introduce yourself to our community?
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.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
thank you for an answer Q2: Can you briefly tell us what is MDEX in 3-5 sentences?
Yes. Mdex is a decentralized exchange with a double-chain Dex model, powered by Huobi eco-chain and Ethereum public chain. Thus, it has both advantages of Huobi and Ethereum ecosystem, with a low transaction fee, active and supporting dual mining mechanism (liquidity & transaction mining). Mdex is committed to becoming a DeFi platform on Huobi ECO Chain (Heco) and supporting DEX, IMO/ICO, DAO. In this way, Mdex will provide users with decentralized token exchange services that are more secure, more credible and boast more diversified asset choices, and higher expected returns on investments.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
Perfect, great answer! Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
We launched the product in Jan. 2021. After two months, the total supply of MDX is about 1 billion now. The mining reward for each block on HECO is 80MDX, of which liquidity mining and transaction mining account for 50% each, respectively. In addition, daily transaction volume of MDEX continues to grow and we have since exceeded $5 billion which is way above some of our peers. MDX currently trades at $8.32 and has racked over $1 billion in market capitalisation. As the community grows, more users trading MDX continue to increase and on average an aggregate of about $350 million worth of MDX changes hands everyday. Here are some data of our achievements: Cumulative transaction volume: over US$38.6 billion Daily transaction fee: over US$6.9 million Cumulative transaction fees: over US$115 million Liquidity mining: over 35 million MDX Fee for transaction mining subsidy: over 100 million USDT Average transaction fee per user so far (including fee subsidies) — about 0! From these data you could see that on the technical and platform development side, MDEX is positioned to be the market leader in DeFi. Existing decentralized exchanges such as UNI are based on ERC20 and have a wide range of consensus, but the transaction fee is very high, which is too costly for average users. MDEX is based on Heco, and its biggest advantages are low cost and fast speed. In addition, the operation of MDEX has laid a strong foundation for its future development in terms of technology, publicity and operation. Meanwhile, future development can not be separated from the significant support granted by Heco. Part of our ongoing plan includes growing our communities and influencial power to the rest of the world. With commitment and determination, we strive to reach a larger global community as we work towards making MDEX a big success.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
Great, thank you for the answer! It is time to move to the community questions part.
MDEX AMA Recap
Cryptodiffer Community
Where can we find MDEX tokens currently available in the market or on DEX or P2P and is there some kind of a requirement to become an MDEX holder?
Mdx is currently listed on huobi, you can find more exchanges on where you can trade mdx here https://www.coingecko.com/en/coins/mdex
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Do you have any kind of instructions on how to participate in liquidity and trade mining in Mdex?
Yes, we have a comprehensive guide for our liquidity and trade mining here https://mdex.medium.com/how-to-participate-in-liquidity-mining-and-trade-mining-in-mdex-52329cfde91c
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
One of the main use cases of the MDX token is to - Repurchase and destroy MDX - , so that means that your token has a deflationary model associated, so which is your burning rate and how often do you Repurchase tokens?
Yes, mdx is deflationary. We do allocate some Mdex of our daily platform income into the repurchasing and burning pool, the allocated funds are used for repurchacing and burning the MDX. Whenever the market price is lower than the 3 days average price, our smart contract gets triggered and the repurchasing and burning will be automatically executed. If the actions are not triggered, the tokens will continue to accumulate into the repurchasing and burning pool.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Which one is more important for you, token value or technology development? Which one do you prioritize for the sake of your project and why?
Thanks, good question. Mdex regards technology development as the most importance. The name of Mdex is representing our technological features: mix chains and mix mechanisms. We aim to bring the technological advancements from Heco and Ethereum to users. On Mdex, the gas fee is almost only 0.01USD. We are chasing Uniswap and will surpass it in the near future. You could see our trading volume and trading efficiency have showed a good sign that it will happen soon.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Does trading mining connect directly with Metamask or with some another wallet?
You can connect with metamask, huobi wallet and tokenpocket. If you're using metamask, you'll need to connect to hecochain network. Go to metamask setting to change to hecochain network. (1)Set up HECO wallet in advance, example MetaMask as follows, MetaMask download website:https://metamask.io/ Click on the metamask and select ‘Settings’→ ‘Networks’, Add ‘Network’, and set according to the following parameters. After that, click ‘save’. Parameters: Network Name:HEC-Main New RPC URL:https://http-mainnet.hecochain.com Chain ID:128 Currency Symbol (optional):HT Block Explorer URL (optional):https://scan.hecochain.com
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Can you touch a bit on the MDEX community governance, what exactly can the community decide on?
We are still on the stage of growing our communities. Here are the accesses of our communities: MDEX Global Telegram: https://t.me/MdexEN MDEX Russian: https://t.me/MDEXRUSSIA MDEX Philippines: https://t.me/MDEX_Philippines MDEX Turkish: https://t.me/MdexTurkish MDEX Viet Nam: https://t.me/MdexVN MDEX Indonesia: https://t.me/MDEXIndonesia MDEX Japan: https://t.me/MDEXJapan MDEX France: https://t.me/MDEXFRANCE MDEX Bangladesh: https://t.me/MDEXBangladesh Most of the communities are governed by volunteers from communities. After the communities becoming bigger, we will start DAO to give more rights to the communities.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
How to keep motivated to hold $MDX tokens in the long term? How are they used on the MDEX Dual Mining?
Mdx token holders can use their tokens to join our liquidity mining program and earn mdx as reward and we also have a single staking which will allow mdx holders to stake their mdx in the boardroom and earn HT as reward.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
What requirements does MDEX have for people to be part of the M-Angel program? First, you need to understand and believe what Mdex is doing. Secondly, you could like to contribute your personal abilities or resources that could help the team. We sincerely welcome anyone who has passion for helping our team build a great brand and letting more people know Mdex. If you want to participate in the construction of MDEX community, no matter what advantages you have, now you can apply for the M-angel of MDEX community. To find the access, here is the information you may need: https://twitter.com/Mdextech/status/1358733226085257216?s=20
In opposite to that, COVID-19 fostered that we expand faster, since dex section helping users transfer and trade borderless and trustless. What's more, the lower gas fee benefits for more users, which is an economical way for international transactions. Last, along with the emergence of DeFi, liquidity mining or token trading give users a lot of ways to make money at home.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Does your project have features or benefits that make it competitive with peers? Why did you choose AMA on Telegram to advertise your project instead of advertising on other social networks like Facebook, YouTube, Google?
We are not exclusively on telegram, we can hold AMA on any platform which the community decides is better. Holding AMA on telegram is not bad and that's why you see us here with CryptoDiffer community 😉
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
I think 2021 is an important year for cryptocurrencies and blockchain. What are your prospects for this year for cryptocurrencies? What are the benefits of holding and staking #MDEX ?
Yes, with the development of last year, there are many pinpoints that need to be solved such as high gas fee and low TPS, which will be the main focus in DeFi in 2021. MDEX was born at this moment and meant to be the focus in 2021. Mdex leaves 80% of the tokens for liquidity and transaction mining. The platform charges 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.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Can you explain to me what the #MDX platform's main goal is to make your project stand out from the crowd? and can you use the MDX ​​token in real life?
Mdex is an automatic market-making decentralized exchange based on the concept of fund pools. MDEX proposes and implements a mix-chain DEX model based on the Heco Chain and Ethereum. Mdex combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem. With MDEX, users can also await dual mining mechanism of liquidity and transactions.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Why we choose $MDEX and why hold it for long term?
Please visit our website(mdex.com), the high APY will tell it is a good choice to hold MDX.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
How can Mdex minimize the cost of the Ethereum network for users when it is currently at a very high threshold? Besides, how will you plan to gradually shift users from ERC20 to Heco with a strong platform and cheaper cost?
Mdex is using hecochain network and Hecochain is more developer and user friendly and it's cost efficient public chain. So with the low cost fee, we expect more users to our platform because they have the advantage of spending low on transaction fee.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Community
Can members of the MDEX ecosystem get MDX tokens participating in the MDEX programs? What does your member incentive system include?
Our platform users can participate in our liquidity mining and trade mining program and they will earn rewards, we also have single asset staking which our users can stake mdx and earn ht. Here is guide for our liquidity and trade mining program https://mdex.medium.com/how-to-participate-in-liquidity-mining-and-trade-mining-in-mdex-52329cfde91c
Kiko
Kiko
We conduct the transactions on Heco and map the assets of Ethereum to Heco. The features of Heco support us achieve lower gas fee and other advantages. We are educating communities to use Heco and have already see their acceptance of the new ecosystem. We are also planning to produce more kind of tutorial to help users to explore Heco and MDEX.
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
Thanks for your time Kiko 👍🏻 Thank you to everyone who took part!
Thank you for having me here today🙂
Kiko
Kiko
MDEX AMA Recap
Cryptodiffer Team
social media channels of MDEX Official website: www.mdex.com MDEX Global Telegram: https://t.me/MdexEN MDEX Russian: https://t.me/MDEXRUSSIA MDEX Philippines: https://t.me/MDEX_Philippines MDEX Turkish: https://t.me/MdexTurkish MDEX Viet Nam: https://t.me/MdexVN MDEX Indonesia: https://t.me/MDEXIndonesia MDEX Japan: https://t.me/MDEXJapan MDEX France: https://t.me/MDEXFRANCE MDEX Bangladesh: https://t.me/MDEXBangladesh Discord: https://discord.gg/3TYDPktjqC Twitter: https://twitter.com/Mdextech Medium: https://medium.com/@mdex MDEX early-dawn campaign https://medium.com/mdex-official/mdex-is-about-to-start-the-early-dawn-campaign-ba9ffd039835 How to participate in liquidity mining and trade mining in Mdex: https://mdex.medium.com/how-to-participate-in-liquidity-mining-and-trade-mining-in-mdex-52329cfde91c Mdex Operation Guide: https://mdex.medium.com/mdex-operation-guide-a04ba71f2961 thank you everyone, don't forget to join to learn more about MDEX💪
Thanks, it was a great experience with Cryptodiffer.
Kiko
Kiko