This is the 1259th issue of the original
author of the
Vernacular Blockchain | Produced by Bob | The Vernacular Blockchain (ID: hellobtc)
The hot DeFi ecosystem continues to expand, and the high-quality ecological projects on the Huobi ecological chain Heco have performed very well, although we expected in the early stage that with the support of the entire ecosystem of the Huobi platform, a batch of competitive ones may be born. DeFi of the project , but did not anticipate that a number of projects, such as the rate of progress MDEX.COM so fast, can be described as a "dark horse" on the already hot track ...... DEX.
01
Dark Horse MDEX.COM
If UniSwap is the "dark horse" of the DeFi ecosystem in 2020, then MDEX.COM is the "dark horse" on the DEX track in 2021. Before the deadline, we observed MDEX.COM performance data on the Heco chain:
Total amount of one-day liquidity pledges: up to more than US$1.33 billion
The highest transaction volume in a single day: more than 2.32 billion US dollars
Cumulative transaction volume: exceeded 38.6 billion U.S. dollars
Single-day transaction fee: over 6.9 million US dollars
Cumulative transaction fees: exceeded 115 million US dollars
Liquidity mining: over 35 million MDX
Transaction mining subsidy fee: over 100 million USDT
According to the performance data of UniSwap, the current DEX leader, we can also see that UniSwap TVL has reached 4.77 billion U.S. dollars and the transaction volume is approximately 960 million U.S. dollars.
The above multiple data indicators indicate that MDEX.COM has rapidly grown into a top DEX in just one month, and the trading volume is more than twice that of Uniswap. MDEX.COM is already the world's largest DEX by volume.
When it comes to DEX , everyone is already very familiar with it. As the most important infrastructure for asset transfer in the DeFi ecosystem, it has attracted users' attention and the value of capture is also very high. MDEX.COM running on the Huobi ecological chain Heco achieves lower handling fees and higher efficiency. As the DEX of the AMM mechanism , MDEX.COM innovatively integrates the different advantages of multiple basic public chains to create a high-performance composite DEX ecosystem . While the "dual mining" mechanism brings greater returns to participants, through The fee repurchase has realized a self-driving value capture closed loop.
Of course, the reason why MDEX.COM is so popular in the market lies not only in its positioning, but also in many shining points to be explored...
02
What does MDEX.COM bring?
On February 19th, MDEX.COM has just been mining for a month. We saw on the third-party DeFi project analysis platform that the daily activity of MDEX.COM has reached 32.43K, which is far more than all except UniSwap. Ethereum DeFi ecological project. What makes users flock to? Let's take a look at what MDEX.COM has brought to the participants, and maybe there will be an answer.
1. Wealth effect
Remember that only 6 days after MDEX.COM went online for mining, the TVL (total lock-up amount) has exceeded 1 billion U.S. dollars, the total liquidity pool (LP) pledge has exceeded 1 billion U.S. dollars, and the 24-hour transaction volume has exceeded 1.3 billion U.S. dollars. Exceeds the sum of UniSwap and SushiSwap's daily transaction total. The crypto world can continue to attract users and funds, certainly because of the "wealth effect."
a. Liquidity mining continues to be stable and high-yield
When we open MDEX.COM's real-time APY (annualized rate of return) statistics, there are at least 10 mining pools with more than 1000% APY in sight. This is common in MDEX.COM with high liquidity and dual mining mechanism. The "dual mining" mechanism that can bring sustained high APY is unique to MDEX.COM, that is, MDEX.COM's liquidity mining and transaction mining. The two mining mechanisms are given to participants, not just adding liquidity Obtaining rewards in a sexual way is also rewarding when trading.
b. The first stop of Heco Divine Mine
As a representative project in the Heco ecosystem supported by the centralized resources of the Huobi platform, the MDEX.COM ultra-high APY "sacred mine" among community users not only has a large number, but also continues to be stable and high-yield. According to statistics, MDEX.COM’s 30-day cumulative rewards for LP have exceeded 1.75 billion U.S. dollars, and this is still a number in the early growth period. It is expected that the subsequent increase will accelerate with the growth of TVL and the number of users.
At this stage, DeFi players basically go wherever there is a "sacred mine", no one will refuse the return rate of "true fragrance", and the high liquidity and high transaction volume brought by the "sacred mine", plus the repurchase mechanism. Being able to MDX, these virtuous cycles are transformed into the moat of MDEX.COM products, which is also a very attractive point of MDEX.COM.
c, MDX-DeFi world's first golden shovel
MDEX.COM's governance Token MDX carries the value of motivating users and funds to continue to participate in the platform. The platform also empowers MDX through the repurchase and destruction mechanism, which means that the rewards for users who participate in mining are more valuable. At the same time, users as the "shareholders" of the platform can also participate in community proposal voting through MDX, determine the direction of the MDEX.COM platform, and realize community autonomy.
Some time ago, the founder of Yuchi, the founder of the Bitcoin mining pool and the DeFi giant whale player Shenyu, commented on MDEX.COM on Weibo: "The mechanism is awesome, and there is currently no opponent on heco."
It is clear that Shenyu greatly appreciates the mechanism of MDEX.COM, that is, the “dual mining”, “repurchase and destruction” and governance mechanisms that we mentioned earlier that can bring high APY, using MDEX.COM CTO Sky In the words of “MDEX.COM”, on the one hand, MDEX.COM integrates the excellent governance of DEX on the market. On the other hand, it also uses smart contracts to transparently and automatically use the operation ideas of centralized exchanges to repurchase and destroy and trade mining. Execution may not be so original in these two aspects, but for MDX, a governance token, it can achieve a certain balance between its output and deflation."
MDEX.COM also integrates the asset HT on the Heco chain into the governance of MDX. Sky emphasized that MDEX.COM is trying to continuously push "incentive-asset-liquidity" into a positive cycle.
In the future, with the deflation of MDX and the development and growth of the MDEX.COM platform, it will bring more and more benefits to participants and become a veritable "DeFi world's first golden shovel."
2. Experience "silky", low-cost high-speed
As we all know, many DEXs on Ethereum, including UniSwap, have the problems of high transaction fees and slow transactions, which is very "persuaded" for most users, especially retail investors.
The recent trend of UniSwap's sharp decline in trading volume is in sharp contrast with the trend of MDEX.COM's sharp increase in trading volume. Why would users start to avoid trading on UniSwap?
Give a simple example:
We now need to exchange 1900 USDT for 1 ETH. When we exchange in UniSwap, we need to pay a 0.3% transaction fee of 6 USDT, and then pay an average gas fee of 30-50 USDT, and then wait at least tens of seconds, or even 3 , 5 minutes or more time to arrive, and on UniSwap, many small transactions are very uneconomical, each transaction, gas fees will occupy a large proportion.
And if you choose MDEX.COM, you will pay a transaction fee of 6 USDT (this fee can usually be refunded through transaction mining), as well as almost negligible gas fee, which will arrive after a few seconds. For retail and high-frequency users Traders are very friendly.
In other words, on MDEX.COM, not only can you get the experience of timely trading, you will not miss the market and cannot be traded because of the slow trading efficiency, but also greatly save the transaction cost, even a small transaction can be completed easily.
MDEX.COM provides a low-latency, high-concurrency system, and the high performance of 500+TPS ensures a "silky" user experience. Coupled with a full range of currencies and high liquidity, it brings better depth At the same time, the slippage is reduced to an excellent slippage as low as 0.1%, and the gas fee for each transaction is less than 1 cent. At the same time, the handling fee is refunded through transaction mining, and eventually even the handling fee will be negative.
03
challenge DEX leading UniSwap
From the various data of MDEX.COM above, we can already see that MDEX.COM can already compete with DEX leaders UniSwap and Sushiswap, such as the current MDEX.COM’s $1.4 billion lock-up and $2.3 billion The daily transaction volume shows that its capital efficiency has exceeded 1.5.
In other words, the current MDEX.COM is much higher than UniSwap in terms of daily trading volume and capital efficiency. Capital is profit-seeking. In MDEX.COM's representative wealth effect, such as HBO, which has increased by more than 600 times, coupled with the high APY of more than 1000% at every turn, it is attracted by the "two-pronged approach", whether it is a large family or Retail investors are beginning to diverge in gradually.
MDEX.COM's lock-up volume is about 1/4 of UniSwap and 1/3 of Sushiswap, and the circulating market value of MDX is only 1/15 of UNI and 1/5 of SUSHI. Relatively speaking, it is still in the value discovery stage.
Take the data on February 19 as an example:
UniSwap's $4.7 billion TVL generated approximately 960 million transactions and generated a handling fee of less than $3 million, but users paid an additional $5 million in gas fees.
MDEX.COM’s $1.4 billion TVL generated approximately 2.3 billion transactions and generated 6.9 million commissions (the commission is 0.3% of the transaction volume, of which 0.1% is used for the development of ecological fund projects, and the remaining 0.14% is LP rewards, 0.06%) It is used for repurchase and destruction), transaction mining and liquidity mining generate 14 million U.S. dollars in revenue.
In the past 30 days, MDEX.COM liquidity mining has generated nearly 200 million U.S. dollars, and transaction mining has generated 240 million U.S. dollars in revenue.
For a simple analysis of data, on the 19th, the overall value of Uniswap, which excludes the gas fee, is still negative to the user's product. Compared with all users in UniSwap, all users of MDEX.COM transactions not only save more than 4 million U.S. dollars in gas fees, but also get mining rewards plus the double benefits of transaction mining, which brings users profit at the same time. Surplus to support ecological development and repurchase back-feeding platform Token. MDEX.COM allows participants to "open source and reduce expenditure" to a greater degree through lower lock-up funds, and promote the platform itself to enter a virtuous circle of sustainable development.
Of course, objectively speaking, it is certainly not a problem for high APY to continuously attract users and funds, but the fact is that high APY is gradually declining. At this time, it may be how to retain users and funds for a long time. MDEX.COM will challenge UniSwap. The real problem facing the leading position.
We know that UniSwap's biggest capital or "moat" is the huge number of users brought by long-term high liquidity, but this is not indestructible, because Sushiswap has tried to "suck blood" UniSwap to gain development opportunities, although it has not successfully replaced it. UniSwap, but also through community governance in the later period, took the second place, which is also a start.
And as mentioned earlier, Shenyu’s comments are also very thorough. MDEX.COM’s awesomeness lies in its mechanism, which motivates users through “dual mining ” to bring high returns, manages the repurchase and destruction of Token MDX and realizes a closed loop of value capture. The more abundant liquidity forms a positive cycle, and the cohesive community governance promotes its continuous growth . In this way, if MDEX.COM can continuously attract new users and new funds through a unique "mechanism", and retain them.
04
Summary
The progress of DeFi is very fast, so fast that many people can't even keep up with the basic rhythm. In 2020, we ushered in the DeFi dark horse UniSwap. In 2021, MDEX.COM will bring the extremely tempting "god mine" and silky "experience", and also bring a unique innovative mechanism, making it a DEX game. Tao is a veritable dark horse.
In the future roadmap of MDEX.COM, it is not limited to one public chain of Heco. MDEX.COM will deploy multiple chains to link multi-chain assets while bringing better DEX experience and more sustainable development to mainstream public chains. Mobility incentive circulation mechanism to strengthen the community. MDEX.COM not only has the ability to directly compete with the Ethereum DEX leader UniSwap, but its goal is to become the DEX king in the future blockchain ecosystem.
END
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"Disclaimer: This article is the author's independent point of view, and does not represent the vernacular blockchain position. This content is only for the popular science learning and exchanges of encryption enthusiasts, and does not constitute investment opinions or suggestions. Please take a rational view, establish a correct concept, and increase risk awareness. The copyright of the article and the final interpretation right belong to the vernacular blockchain. 』
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