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MDEX, launched in January 2021, has surpassed the popularity of Ethereum’s Uniswap and SushiSwap, Binance Smart Chain’s PancakeSwap, and 1Inch exchanges. As of March 2021, it dethroned Uniswap on CoinMarketCap as the number one DEX in a decentralized transaction protocol.
What is Mdex (MDX)?
MDEX operates on a concept of funding pools, sharing similarities with standard DEXs but differentiating itself through a dual-chain model implemented both in the Ethereum network and the Huobi Ecological model. This allows it to benefit from both HECO’s super low transaction fees and the Ethereum ecosystem’s deep liquidity.
As a trading platform built on HECO, MDEX outperforms Uniswap in terms of cost and speed. The estimated cost for token swaps can drop to as low as 0.001 USD per transaction. Additionally, the transaction speed in the DEX hosted by HECOChain can reach certainty in as short as three seconds.
At the time of writing, MDEX dominates the DEX market’s transaction volumes, holding approximately 38-40% of the total market share. Moreover, Mdex has a 24-hour volume of around 1.7 billion USD, which is about double that of the previous leader Uniswap. This comes as the governance tokens of leading DEX protocols are reaching new record levels.
On the other hand, the majority of DeFi projects live on the Ethereum network as ERC-20 assets, but considering the status quo of expensive transaction fees and slow transaction speeds, the world’s second-largest blockchain might soon accelerate its game or risk the migration of DEX projects.
Most newly developed protocols significantly consider scalability factors in blockchain network selection if they desire rapid adoption rates. Uniswap had at least the advantage of early movement before the Ethereum network became heavily congested.
However, if second-layer solutions are not timely implemented and fail to deliver expected results, Uniswap’s market majority could indeed change very quickly. Meanwhile, Huobi is aggressively expanding its reach in the field, committed to further developing the HECO ecosystem.
How to Buy Mdex Coin?
Mdex Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by transaction volume.
To buy Mdex Coin, one must first register on Binance and then send fiat money. After sending a fiat currency like Turkish Lira or USD, Mdex Coin can be bought by purchasing Tether (USDT), Bitcoin (BTC), Binance Coin (BNB), and BUSD in the Mdex trading pair.
Additionally, on Binance, users can place a purchase order at a price lower than the market value. To do this, use the Limit tab and enter the amount you want to buy and the price at which you want to buy.
