SINGAPORE, Feb. 11, 2021 (GLOBE NEWSWIRE) — The new kid on the block, MDEX is causing a stir in DEX (decentralized exchange) waters. Launching mining on January 19th, in 8 days the MDEX total liquidity pool (LP) pledge amount exceeded USD 1 billion, and the 24-hour transaction volume exceeded USD 1.4 billion, surpassing the market’s most popular DEX duo, UniSwap and SushiSwap. Currently the TVL (Total Value Locked) on MDEX is USDT 1.055 billion.
Low Fees on HECO and Access to Ethereum’s Extensive Ecosystem
As an automatic market-making (AMM) DEX based on the concept of fund pools, MDEX implements a mix-chain model on Ethereum and HECO (Huobi Eco-Chain). It effectively leverages on the low transaction fees of the HECO chain and the broad, far-reaching Ethereum ecosystem.
MDEX Dual Mining Innovation: Liquidity and Transaction Mining
MDEX supports the “dual mining mechanism” of DEX-based AMM liquidity and transaction mining.
At the base of dual liquidity mining, transaction mining is equivalent to adding a layer of “leverage”. The deposits of all funds not only increases the AMM liquidity but supports trading activities.
Regardless of DEX or CEX (centralized exchange), the battle of the exchanges has always been one for liquidity. Both liquidity and transaction mining methods have proven to be tried-and-true methods in helping exchanges gain liquidity in a short period of time.
The total supply