{"id":49579,"date":"2021-09-16T14:37:41","date_gmt":"2021-09-16T11:37:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49579"},"modified":"2025-09-02T13:21:48","modified_gmt":"2025-09-02T10:21:48","slug":"mdex-the-defi-locomotive-of-the-huobi-eco-chain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mdex-the-defi-locomotive-of-the-huobi-eco-chain\/","title":{"rendered":"MDEX: The DeFi Locomotive of the Huobi ECO Chain"},"content":{"rendered":"<p>In December 2020 <a class=\"tracking_link\" href=\"https:\/\/u1f987.com\/tvl-5-mlrd-za-vosem-mesyatsev-kak-razvivaetsya-huobi-eco-chain\/\" target=\"_blank\" rel=\"noopener noreferrer\">the launch of the Huobi ECO Chain mainnet (HECO)<\/a> took place, and a month later \u2014 the decentralized exchange MDEX on this blockchain.<\/p>\n<p>According to <a class=\"tracking_link\" href=\"https:\/\/defillama.com\/chain\/Heco\" target=\"_blank\" rel=\"noopener noreferrer\">DeFi Llama<\/a>, HECO currently hosts 20 DeFi protocols with a total value locked (TVL) of $1.2 billion. Meanwhile, the dominance of <a class=\"tracking_link\" href=\"https:\/\/mdex.com\/#\/\" target=\"_blank\" rel=\"noopener noreferrer\">MDEX<\/a> reaches 70% ($872 million).<\/p>\n<p>We highlight the features of the decentralized exchange, the platform for Initial MDEX Offering, and the MDX governance token.<\/p>\n<h2 class=\\\"wp-block-heading\\\">MDEX Features<\/h2>\n<p>MDEX operates on the EVM-compatible HECO blockchain: developers can use the libraries <a class=\\\"tracking_link\\\" href=\\\"https:\/\/github.com\/web3j\/web3j\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">web3j, web3js<\/a> to create dapps and DeFi protocols on this network.<\/p>\n<p>In April 2021, MDEX added support for Binance Smart Chain (BSC) and launched a cross-chain bridge between HECO, BSC and Ethereum. The exchange&#8217;s smart contracts were audited by <a class=\\\"tracking_link\\\" href=\\\"https:\/\/www.certik.org\/projects\/mdextech\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Certik<\/a>, <a class=\\\"tracking_link\\\" href=\\\"https:\/\/www.slowmist.com\/en\/security-audit-certificate.html?id=819910d8deae79d973c1f24e008f6463648499438f0060b05171c0cad90695ae\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">SlowMist<\/a> and <a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/fairyproof.pdf\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Fairyproof<\/a>.<\/p>\n<p>The crypto exchange provides users with several services:<\/p>\n<ul>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/ht.mdex.co\/#\/swap?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Swap<\/a> \u2014 token swaps on HECO and BSC using MetaMask, WalletConnect, and Coinbase Wallet;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/ht.mdex.com\/#\/pool?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Pool<\/a> \u2014 creating MDEX liquidity pools;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/liquidity?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Liquidity<\/a> \u2014 adding liquidity to existing pools. Liquidity providers earn rewards in MDX tokens;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/trading?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Trading<\/a> \u2014 monitoring trading-pair yields on MDEX. Selecting a pair takes the user to the Swap section;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/boardroom?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Boardroom<\/a> \u2014 staking MDX and other project tokens;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/bridge?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Bridge<\/a> \u2014 token transfers between HECO, BSC and Ethereum;<\/li>\n<li><a class=\\\"tracking_link\\\" href=\\\"https:\/\/dao.mdex.com\/#\/?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">DAO<\/a> \u2014 voting with MDX tokens on community proposals for MDEX.<\/li>\n<\/ul>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"944\\\" height=\\\"1024\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-449-944x1024.png\\\" alt=\\\"The DeFi locomotive of the Huobi ECO Chain: exploring the decentralized exchange MDEX\\\" class=\\\"wp-image-149522\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-449-944x1024.png 944w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-449-276x300.png 276w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-449-768x833.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-449.png 1056w\\\" sizes=\\\"auto, (max-width: 944px) 100vw, 944px\\\" \/><figcaption>Swap interface. When exchanging tokens, MDEX automatically calculates the trade fee (Trade Fee) and the most favorable route for token swaps (Route). <br \/><\/figcaption><\/figure>\n<p>As of this article&#8217;s publication, the MDEX team is beta-testing the <a class=\\\"tracking_link\\\" href=\\\"https:\/\/trade.mdex.com\/#\/?lang=en\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Charts<\/a> module. It will allow users to track trading volumes, liquidity, and recent transactions on the platform.<\/p>\n<p>The developers plan to implement a liquidity aggregator and <a class=\"tracking_link\" href=\"https:\/\/u1f987.com\/kontsentrirovannaya-likvidnost-i-optimism-udastsya-li-uniswap-uderzhat-liderstvo-sredi-dex\/\" target=\"_blank\" rel=\"noopener noreferrer\">Range Limit Orders<\/a>. In addition, the project team will add support for crypto derivatives, NFTs, and blockchains OKExChain, Polkadot and NEAR.<\/p>\n<h2 class=\\\"wp-block-heading\\\">Platform Token<\/h2>\n<p>MDX is the token of <a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">MDEX<\/a> with a total supply of 1 billion, performing the following functions:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li><strong>Governance:<\/strong> MDX holders vote on proposals for the exchange&#8217;s development;<\/li>\n<li><strong>Fundraising:<\/strong> projects raise funds in MDX tokens.<\/li>\n<li><strong>Reward payouts:<\/strong> the exchange distributes MDX to users for providing liquidity and making trades on the platform.<\/li>\n<\/ul>\n<p>The platform distributes rewards in the following proportions:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>49% and 31% \u2014 to MDEX users for providing liquidity on HECO and BSC respectively;<\/li>\n<li>13% \u2014 to the MDEX team in the two years after the exchange launch;<\/li>\n<li>7% \u2014 to early MDEX investors one year after the launch of the exchange.<\/li>\n<\/ul>\n<p>MDX is currently traded on 31 exchanges, including Huobi, Binance, Gate.io and CoinEx.<\/p>\n<h2 class=\\\"wp-block-heading\\\">Initial MDEX Offering<\/h2>\n<p>In May 2021, MDEX introduced a platform for fundraising on the decentralized exchange \u2014 Initial MDEX Offering (IMO).<\/p>\n<p>The first IMO on MDEX took place on May 25, 2021. The yield-aggregator CoinWind (COW) sold 3 million COW worth $1.5 million in 10 seconds.<\/p>\n<p>To participate in the token sale, users stake MDX. The minimum stake size is determined by the IMO organizers.<\/p>\n<p>The exchange team also created a fund to support new projects \u2014 <a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdexdoc.gitbook.io\/doc\/mdex-lightpaper#2-4-1-vision-of-the-mdex-ecology-fund\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">MDEX Ecology Fund<\/a>. In the near future, the fund will be moved under the governance of a decentralized autonomous organization.<\/p>\n<p>MDEX Ecology Fund has already invested in the O3 wallet, the crowdfunding platform Westarter, the lending protocol Open Leverage, and yield aggregators Booster, Converter and CoinWind. <\/p>\n<h2 class=\\\"wp-block-heading\\\">Conclusions<\/h2>\n<p><a class=\\\"tracking_link\\\" href=\\\"https:\/\/mdex.com\/#\/\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">MDEX<\/a> \u2014 a young decentralized exchange that ranks first among DeFi projects in the HECO ecosystem and sits in the Top 10 by TVL on Binance Smart Chain. The MDX token is traded on leading centralized exchanges \u2014 Binance and Huobi.<\/p>\n<p>The exchange provides services for token swaps, liquidity provision, governance, and cross-chain transactions. In the near future, the MDEX team will add support for new blockchains and NFTs to broaden the platform\u2019s audience.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In December 2020 the Huobi ECO Chain mainnet launch took place, followed a month later by the decentralized exchange MDEX on this blockchain. Here we discuss MDEX&#8217;s features, its Initial MDEX Offering platform, and the MDX governance token.<\/p>\n","protected":false},"author":1,"featured_media":49580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"2","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1093,787,230],"class_list":["post-49579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-defi","tag-dex","tag-huobi"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"2","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49579"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49579\/revisions"}],"predecessor-version":[{"id":49581,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49579\/revisions\/49581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49580"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}