MDEX Releases Updated Roadmap Packed with Upgrades

The decentralized infrastructure provider, MDEX, unveiled its new roadmap this month. The updated document is packed with upgrades and new features to streamline the platform’s DeFi and crowdfunding protocols. MDEX is unique in the market for many reasons, one being that the system is designed to return all product revenues to MDX holders through rewards, or the repurchase and burn mechanisms.

MDEX has an exciting year planned. The developers intend to continue to make improvements to the platform’s core features. The introduction of these new and innovative services adds value to the network and its native token, MDX.  

Notably, MDEX continues to draw investor’s attention. The platform boasts an average daily transaction volume of +$5.7 billion on HECO & BSC.

Optimization

The network will improve on its DEX features in the coming weeks. Developers are working on optimizing the automatic market making mechanism to provide users with more features. Specifically, the upgrade would enable users to access functions usually only found on CEXs. These features include liquidity aggregation, range orders, limit orders, and more.

Cross-Chain Infrastructure

MDEX will also improve on its cross-blockchain asset exchanges. The developers want to streamline the transfer of assets between ETH, HECO, BSC, and Polygon to start. This strategy will help to alleviate one of the biggest problems facing DeFi users today – compartmentalization.

Updated Interface

Another major upgrade that has helped to entice more users is the updated interface. The new interface will incorporate a user-friendly quotation display page and interactive data charts. In this way, MDEX will start to closely resemble popular CEXs in terms of layout. 

MUSD

Leveraging the power of the network’s native token, MUSD, the team seeks to launch a series of innovative derivatives. These products will enable investors to gain exposure to cryptocurrencies without owning any directly. According to company documentation, these features will include leveraged transactions, options, and the use of market oracles.

Partnerships

MDEX intends to expand its market positioning via strategic partnerships. To accomplish this task, the network will focus on expanding its support groups. Currently, groups such as IMO, the MDEX Foundation, and the M-Accelerator protocol support these functions. These groups will continue to offer their services including launching more infrastructure support systems for Dapp developers. These programs are specially designed to help developers access funding, development assistance, and network promotions.

DAO Integration

Another major upgrade for the network is the introduction of its Decentralized Autonomous Organization (DAO) system. This protocol will serve a vital role in supporting programs such as IMO, MDEX Foundation, and M-Accelerator. The integration means that MDEX holders can now initiate proposals and enjoy high-income dividends

Improve on IMO (Initial MDEX Offering)

The crowdfunding protocols of the network are set to get an upgrade as well. Impressively, the first IMO hosted on MDEX attracted +8874 participants.  The event secured +$387 million in digital assets. Notably, anyone can seed a liquidity pool on MDEX. However, leveraging the power of the IMO feature helps to get the word out to the entire DEX community. 

Continued Listings

MDEX has been deployed on 23 exchanges, including Huobi Global, Binance, Gate.io, and MXC. The developers intend to push more listings as part of their strategy. These listings help to drive demand for MDX and improve the overall liquidity of the network. 

MDEX Exchange Token Halving

MDEX conducted a token halving this month. Interestingly, the halving isn’t for miners, but rather for the platform’s unique Trading Mining feature. Uniquely, this system rewards users for their trading activity. In this way, regular traders gain access to additional revenue streams. 

Staking MDX

The staking features of the network enable regular users to secure passive rewards. Users can participate in liquidity pools and earn rewards based on their level of contribution. Staking is one of the most popular DeFi features in the market today. 

Scalability

One of MDEX’s main concerns is scalability. DeFi users are already too familiar with the havoc that network congestion can wreak on blockchains. Sadly, the world’s top-performing DeFi blockchain, Ethereum, has suffered from extreme congestion as of late. The network’s fees have increased as a direct result of this congestion. This has led many users and developers in search of other platforms. 

HECO

Wisely, MDEX was built on HECO. This next-gen blockchain was designed and built by the Huobi Exchange. The network provides fast and secure transactions globally. Wisely, the developers took extra care to ensure that their smart contracts were secure prior to launch. As part of this strategy, they opted for third-party audits conducted by Certik.

The Burning Black Hole Contest

One of the most original aspects of the MDEX exchange is its entertaining competitions. Currently, the DEX is hosting its Burning Black Hole Contest. This competition pits users against each other in a lottery-style drawing. To enter the competition, you simply need to send MDX to the burning pool. Notably, the first round of the competition saw 464,000 MDX repurchased and 417,600 burned.

The more funds you send to the pool, the higher your chances of winning some of the cool prizes. Every MDX token entry provides you with a select burning number that is composed of your transaction hash. The protocol then utilizes an SHA-256 function to determine the winner randomly. 

Winners can look forward to one of three cool prizes. For example, first prize wins a share of 10% of the burning pool funds. The second tier shares in the 100,000 USDT prize pool. Lastly, there is a 200,000 USDT prize pool for third-place winners. 

MDEX – Improvements and Opportunities

The continual upgrade of the MDEX ecosystem is one of the reasons that the platform is so popular. This protocol combines some popular features with a unique deflationary lottery that helps to bolster the MDX token value. Best of all, all transaction fees go back to the community. Click here for more information on MDEX and its future developments.

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