AMA Recap Crypto Library with MDEX


On 15th September 2021, MDEX conducted an AMA in the Crypto Library Community. Our guest is Kiko. Lots of questions as usual from the Community about MDEX progress. The MDEX team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into MDEX.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Kiko (MDEX) : Hi, 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. 
Crypto Library Team : What is MDEX? and how your team can create this great project?

Kiko (MDEX) : The concept of DeFi has already launched in the market in 2018. But at that time, DeFi did not arouse huge attention from people and many users did not understand the actual benefits DeFi can bring. Until the popularity of Uniswap rising fast in a short time in 2020, a large number of users began to pay attention to DEX, and then have deep impression on DeFi. However, the skyrocketing price of Ethereum has caused congestion in transactions and high transaction fees. Thus, it is difficult for ordinary investors to bear the transfer fees of tens of hundreds of dollars for a single transfer, which gives other public chain opportunities. With the large-scale promotion of BSC public chain and HECO public chain, MDEX was born under such an opportunity with the high-performance advantages of HECO and BSC. MDEX.COM is a decentralized cross-chain transaction protocol that supports BSC and HECO, long ranking No.1 on the DEX rankings of CoinMarketCap and CoinGecko. It combines the advantages of low transaction fees on the Huobi ECO Chain and prosperity of Binance ecosystem, aiming at creating a high-performance composite DEX ecosystem, providing maximized rewards for participants with the "dual mining mechanism" of liquidity mining and transaction mining. It also manages to realize a closed and self-driven loop for value capture through using its transaction fees to repurchase and burn MDX. The original intention and vision of MDEX is to start from trading, commit itself to building a DeFi platform integrating DEX, IMO, and DAO. In this way, it provides one-stop liquidity services for more high-quality assets, and offers users with safe, reliable and cost-effective transaction experience with diverse and high-quality assets. 

Crypto Library Team : Why should we choose xMdx than other Exchange out there?

Kiko (MDEX) : As the data ecology on the public chain Ethereum continues to expand, the problems of high gas fees, slow block confirmation, and high transactions slippage on dex transactions, as represented by UniSwap, receive increasing criticism users. By taking the advantage of high TPS performance of HECO and BSC, MDEX greatly solves the problems of high gas fee and long confirmation time. When flowers are fragment, butterflies will come. Since Mdex's launch on BSC on April 8, the excellent BSC ecology has given Mdex a huge boost to realize further development, which is why Mdex's transaction volume, lock-up volume and the number of users reached record high. These are the advantages of MDEX:

1. Mdex has deployed dual chains (BSC+HECO) and supports asset cross chain bridges, which is convenient and fast for ordinary users;
2. Complete product functions: liquid mining, transaction mining, Boardroom , IMO, repurchase and destruction, etc., to meet the various transaction needs of users.
3. MDX will be rewarded for any transaction mining, and ordinary users can experience transactions with a handling fee of about 0, with almost no loss.
4. The trading depth of mainstream currencies is always in the top 3 of the entire network, and users can experience transactions with the lowest slippage loss to protect users' interests.
5. As the leading exchange in the defi industry, MDEX is safe and stable, and trading with confidence is the core demand of ordinary users.

Crypto Library Team : Please tell us about $xMdx token! What are the token use-case, distribution, and where we can buy it?

Kiko (MDEX) : 

The total supply of Mdex’s platform token MDX is about 1 billion, of which 10% is used as a team reward for team operation, technology research and development, etc., and it will be unlocked in 24 months after being launched by smart contracts. 7% is used as an early investor share to provide more sufficient and beneficial funds and resources for the development of Mdex; 3% is used for market promotion and brand building; these two shares are unlocked in twelve months after going online. The remaining 49% and 31% are used for liquidity mining and trading mining on HECO and BSC respectively. MDX application scenarios. As the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used in the following scenarios.
1. Governance tokens
MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and destruction of tokens. The list is as follows:
1.1 Voting
The comprehensive evaluation is made according to the transaction volume and total value locked of the project, and the MDX users vote for the decision.
1.2 Repurchase and destruction
MDX will charge 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.

2. Standard fundraising tokens
MDX is also a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used.

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Kiko (MDEX) : MDEX has announced the latest roadmap when it exercised its first halving. Since then, it has been planning for the future according to the latest roadmap. The long-term lock-up function of the Boardroom has been launched so that more MDX holders and users can get gain more benefits. In return, it also fired the first shot of DAO. At the same time, MDEX will launch more IMOs to provide users with more air-drop benefits. In addition, MDEX will launch three plans in the follow-up to create more potential benefits for users. The first is the M-USD plan, which is to launch a multi-collateral method to mint stable cryptocurrency MUSD, and provide suitable application scenarios and liquidity rewards in the ecology so as to offer token in liquidity for MDX holders; The second is the M-MEX plan, which is to launch a series of derivatives tools to provide users with ways and paths to create multiple benefits; The last is the M-League plan. On the basis of the existing Hunter plan, more funds will be injected into a series of supporting projects such as IMO, ecological fund investment and start-up project incubator, so as to better invest and serve global development and to bring benefits to users with high-quality projects and ecology. These series of measures are all MDEX's visions. The players of decentralized transactions are all expecting these new ways.
Crypto Library Team : I believe that lately many mining platforms are emerging, and currently there are many interested users but also many become scams, so how does MDEX guarantee trust and security to its users?

Kiko (MDEX) : MDEX has been committed to becoming a compound DeFi ecology that integrates DEX, IMO and DAO. Since its launch, it has been prioritising security and correctness of its smart contracts and blockchain-based protocols. Up till now, it has passed the audits by three major auditors, namely Fairyproof, SlowMist and CERITKS. MDEX has been operating safely and smoothly for 5 months since its launch, and as the functions of MDEX are gradually improved, it has expanded from HECO to BSC and ETH. In future, it will incorporate more underlying assets in the MDEX ecology. While growing steadily, MDEX has been protecting the asset security and transaction security of users. MDEX has launched a bug bounty campaign which serves as a bridge for more blockchain security researchers to safeguard users asset security and joint lybuild a better MDEX ecology. Meanwhile, for projects to enter MDEX whitelist, they must be compliant projects that have audit reports from authoritative auditing agencies.

Crypto Library Team : What is the DAO model developed by MDEX? How will you manage to provide MDEX holders with long-term ecological benefits and governance rights that make them part of your project and feel committed to its growth? What are the requirements to be a member of your DAO?

Kiko (MDEX) : The development of MDEX follows the essence of blockchain-DAO autonomy. The core charm of DAO is that the benefits and value created in the community will be shared by all contributors fairly. The enabling of DAO autonomy by MDEX provides MDX holders with the chance to have a stronger sense of belonging to MDEX, making MDEX truly enter the era of community autonomy and win-win. This, will further allow the community to have more rights to make independent decisions and platform operations to be more transparent and decentralized. MDEX's upcoming DAO governance rules are as follows:

1. All holders of Boardroom Lock-up MDX will receive the official DAO governance voucher tokens issued uniformly. The governance voucher can be used in the following scenarios:

1)Voting for favored Directors and community proposals
2)Participate in the IMO;
3)Running for Director.

2.With the governance voucher, you will get the right of DAO governance:

1) Stake a certain amount of governance vouchers, so as to participate in the Director Elections. The users can vote for their favored directors. From the beginning of each natural month to the end of the month, 30 days, and according to the order of an average number of votes, the 9 address holders with the highest number of votes become the 9 directors. After all directors are successfully elected, the election stays valid for one natural month.
2) All users who hold governance vouchers can initiate community proposals, and further submit them when staking a certain amount of governance vouchers.
3) Directors can choose the community proposals they support. Proposals supported by no less than 5 directors can enter the community referendum.
4) All users vote on the proposals. During the voting period, the proposal with the most votes will be approved and finally executed by the MDEX team.

Crypto Library Team : Could you share some big achievements that you get in this year?

Kiko (MDEX) : MDEX officially launched transaction mining and liquidity mining on January 19, 2021, with safe and smooth operation for more than half a year. During this period, MDEX successfully implemented Dual-Chain Deployment and launched on the Huobi Ecological Chain (Heco) and the Binance Smart Chain (BSC). As of August 31, 2021, MDEX transaction mining subsidies and liquidity mining rewards have produced a total of 646 million MDX, worth over $900 million, and the MDEX boardroom has completed a total of about $480 million in rewards; MDEX daily transaction volume ranks No.1 in CoinMarketCap and CoinGecko of the global DEX rankings, and still keep topping the list; the cumulative transaction volume of last six-month has exceeded $400 billion. MDEX Dual-Chain Deployment (Heco&BSC) TVL exceeds US$2.5 billion. On February 6, 2021, MDEX launched the Boardroom Repurchase and Burn Pool, the world's first smart contract that automatically executes the repurchases and burn mechanism. As of August 31, 2021, MDEX dual-chain (Heco&BSC) had repurchased and burned totaled 83 million MDX, with an average daily repurchase and burn volume of 370,000 MDX and a total repurchase amount of more than $186 million. In order to give MDX more ecological application scenarios, MDEX has launched a number of product functions:
1.In the first phase, the number of participants of IMO (Initial Mdex Offering) exceeded 8,874, with a total transaction amount of $387 million;

2.Up to now, 13 "Burning Black Hole" campaigns have been launched, with more than 1.91 million MDX being burned. Global expansion will be a focus of MDEX's operations in the near future. It will expand MDEX's brand influence in the entire DEX industry, so that more and more users can understand the use of MDEX transactions, namely mining, liquidity mining, and subsequent ecological scenarios. This is the data performance of MDEX in August, let's take a look! 

Crypto Library Team : 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?

Kiko (MDEX) : Another difference between MDEX and other Swaps lies in the "repurchase and burn" mechanism and "Boardroom reward pool". It is through them that MDEX returns the fees contributed by users to users. MDEX's platform revenue comes from the 0.3% transaction fee, of which, 0.1% will be used to promote the development of the MDEX ecology, 0.14% to reward miners through the Boardroom reward pool, and 0.06% to repurchase and burn MDX. MDEX will inject a corresponding percentage of the daily platform fees into the repurchase pool. The repurchase and burn will be automatically executed by the smart contract when the repurchase price (72-hour MDX average price) is triggered. Otherwise, MDEX will continue to accumulate the platform income into the repurchase pool.

Crypto Library Team : MDEX released the Hunter plan in August - 10 million US Dollars to Support Ecological Projects. Can you give us a detailed introduction to it?

Kiko (MDEX) : The Hunter plan is the MDEX Foundation's development support plan for the global ecology. The Hunter plan has a total of $10 million, giving priority to fund projects that share MDEX's philosophy, including high-quality projects like Metaverse, DeFi, GameFi, and NFT. The main goal of the Hunter plan released by the MDEX Foundation this time is to continuously consolidate the platform business, enrich the platform transaction diversity, provide financial support for high-quality projects, and assist project parties to expand broader ecological resources, and fundamentally promote the entire ecosystem develop. The MDEX Foundation released the latest information on September 1. It announced that on the basis of the Hunter plan of 10 million US dollars to support ecological projects, an additional 20 million US dollars will be used to support the high-quality ecological projects in the initial issuance stage, like the Huobi Ecological Chain (Heco) and the Binance Smart Chain (BSC). These ecological projects in the initial issuance stage supported by the MDEX Foundation will have an opportunity to be issued on the MDEX IMO (Mdex initial offering) sector. At that time, the users who hold MDX on the MDEX platform can receive air-drop of the project tokens through the lock-up MDX mechanism at 0 cost. The project parties can submit an application to MDEX. After review being passed, they will gain as follows:

(1) MDEX Ecological Foundation will increase $50,000 liquidity to the project on MDEX;

(2) If TVL is greater than or equal to $50 million for 7 consecutive days, MDEX Ecological Foundation will increase $150,000 in liquidity to the project;

(3) After projects attain over $2 million in liquidity and $3 million transaction volume, there will be a chance to open liquidity mining rewards, and the platform will increase another $300,000 in liquidity to the project.

You can also check the specific plan details in the official website announcement: 
Crypto Library Team : Can you tell us what are the security elements that make a MDEX a safe place to any type of investor?

Kiko (MDEX) : Mdex smart contract is safe and well audited by a reputable auditing firms such as codeSafe, certik. Users funds are secured and users don't store their funds on our platform, they have control of their funds. You can check our audit report on our website

Crypto Library Team : Is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?

Kiko (MDEX) : Yes, NFT business will be carried out about Mdex mascot in the future. For more information, please pay attention to our group notice which will keep you informed of the whole progress.

Crypto Library Team : Can you give an overview of your tokenomics? Also tell us the use cases of your Token!? Share your ROADMAP if it is possible!

Kiko (MDEX) : Mdx token is a utility token which is the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used as Governance tokens. MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and burn of tokens. Also MDX is a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used. Mdx holders will be able to participate in our IMO.

Crypto Library Team : Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?

Kiko (MDEX) : 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.

Crypto Library Team : Have you developed or are you planning to develop a program for ambassadors so that Mdex project can attract more people?

Kiko (MDEX) : We launched our M-angle recruitment program which is same as Ambassador Program to help us create awareness to other regions. M-Angel is a long-term personal partner of MDEX community, helping MDEX to build and care for a MDEX brand that continuously transcends the past, challenges the future, and focuses on the present details. M-Angels can contribute any valuable resource to MDEX could be rewarded with MDX tokens or other forms of incentives for their contributions. According to the monthly score, M-Angel ranks Navy Blue, Sky Blue, and Blizzard Blue in order, and the ranking rises or falls according to the monthly activity and contribution value. You could apply to be our M-angels, if you could contribute content output, publicity channels, user cultivation, technical cooperation, or you are an influencer. By doing so, MDEX will give you reasonable token returns, and you have the chance to become a project ambassador, get special invitations for online and offline activities or participate in DAO governance. If you are interested, please check out the details here: