FAQ
1. Unable to view wallet assets, network latency, pending and relevant problems? Try to switch nodes.
Open your wallet, My--System Setting--Node Setting, and then change the node.
Access 1 in China:
https://http-mainnet-node.huobichain.com
Access 2 in China:
https://http-mainnet-node1.hecochain.com
https://http-mainnet.hecochain.com
2.How to deal with problems such as transfer latency/delays, data display failures?
1) Huobi Wallet
Set the gas fee in advance on the [Transfer] page, and set the gas fee higher through the slider.
2) METAMASK
Use the expanded view of the plug-in to have a full-screen display, which is more stable;
Select "Accelerate" to increase gas limit and gas price.
3)TokenPocket
On the [Transfer] page, click on [Setting gas fee] to increase the gas limit and gas price to speed up the transaction.
If the transaction is delayed, refresh the page to make sure whether the page is updated in time.
If the delay happens to only one transaction, you can use the acceleration function or cancel function;
When Metamask has multiple transaction delays and cannot initiate a transaction, go to Set-- Advanced --Reset the account.
4. Why did the swap fail?
There are many reasons, such as price errors caused by node latency, or the price fluctuations causing an error between the current quantity and the quantity when the swap application is submitted. There may also be an optimal path, but the user has already submitted it.
5. Other issues like “approve” failure, withdrawal failure, etc.
You can try to increase the gas fee or try to switch nodes.
To switch Metamask nodes: setting--network--original BSC main network--RPC. To complete the process on mobile ends: settings-node settings.
6. Delays in receiving assets through the bridge
If the delay occurs, please try to change the node and check whether the wallet link works. And if the delay persists, please contact the MDEX team and provide the transaction hash to find the cause of the delay.
7. Imtoken mainnet switch
Under normal circumstances, the DAPP will automatically pop up and connect the corresponding mainnet. If the connection is unsuccessful, you can complete the switch by following the instructions: "My"-"Using Setting"-"Node Setting"-"ETHEREUM"-"Add Node"-"Custom", and then input the corresponding parameter of the mainnet. Click "Save".
8. Zero transaction fee
(1) In essence, the reward of transaction mining is a subsidy to users who have transaction needs. Compared to other decentralized exchanges that charge 0.3% transaction fees, transactions on mdex are almost for free.
(2) Transaction fees generated in trading token pairs will be directly reserved in the corresponding LP pools. Only when users create or withdraw liquidity will the transaction fee be transferred to the smart contract address as LPs.
9. Why is the HMDX supply on the BSC chain 1 billion? Users can see it through the contract address.
HMDX is a cross-chain token of MDX issued on BSC. It corresponds to the MDX on HECO. The volume of HMDX is equal to the MDX locked in the contract. After HMDX returns to HECO, it will be burned and the same amount of MDX on HECO will be unlocked. The total amount of HMDX is the same as the MDX on HECO, but as MDX output reduces ahead of schedule, the total amount of MDX on HECO is no more than 700 million.
10. What is the relationship between HMDX and MDX? Why isn't the swap ratio 1:1?
MDEX needs to ensure the MDX output on HECO and BSC are the same (80 MDX per block), which means that it needs BSC native tokens. The cross-chain token HMDX on BSC belongs to users and cannot be used to reward miners. And there is still a gap between the amount of HMDX and the amount of MDX mined on BSC, which leads to a price difference when users buy and sell tokens. But as the liquidity of HMDX on BSC increases, the price difference will narrow down. HMDX will become MDX when it comes back to HECO.
11. Is the MDX on BSC and the MDX on HECO the same token?
The MDX on BSC is part of the 1 billion MDX supply. Since the mdx output on BSC in the early stage is small, its price differs from that of HECO. We will try our best to adjust the price difference through the Boardroom, repurchases, rewards, and the proportion of future output, etc., to achieve the goal of 1:1 swap ratio.
12. Does MDEX plan to introduce NFT and other contracts?
MDEX probably will introduce them in the future to enrich the ecology but it needs to be done step by step. If there is any adjustment or enhancement of the operation strategy, we will announce it through official channels as soon as possible. Stay tuned to our official account.
13. For the same LP, why do the LPs of the Boardroom and those of the mining pool have different rates of return?
The liquidity mining pool rewards users by blocks, while the Boardroom LP gives transaction fee rewards. The sources of the rewards are different.
14. What is the repurchase mechanism after listing on BSC?
MDEX will inject the corresponding proportion of daily income into the repurchase fund pool. When the repurchase price (72-hour MDX average price) is triggered, the smart contract will automatically execute the repurchase and burn. Otherwise, it will continue to accumulate in the repurchase fund pool. Note: Repurchases from the marketplace prefer HMDX or MDX with a lower price.
15. Why does MDEX adjust the repurchase time from 9 seconds to 90 seconds?
Due to the recent congestion of the BSC network, MDEX adjusts the repurchase time and Gas fee setting, and optimizes the repurchase-burning scheme. None of these changes will affect the total amount of MDEX for repurchase and burning. The contract will continue to repurchase and burn according to the amount of MDEX in the repurchase pool.
16. Why does the address 0x2f7ac9436ba4b548f9582af91ca1ef02cd2f1f03 have 900 million hmdx?
About the cross-chain bridge and contract address of MDEX
1). Since the initial issuance, HMDX has been directly transferred to the cross-chain lock-up agent contract address. Users can check the token issuance and lock-up status through the following address:
HMDX contract address:
0xaee4164c1ee46ed0bbc34790f1a3d1fc87796668
Lock-up agent contract address:
0x2f7ac9436ba4B548f9582af91CA1Ef02cd2F1f03
2). About MDX cross-chain mechanism
When the MDX on HECO network is transferred to the LOCK contract and the lock is confirmed, the same amount of HMDX will be unlocked from the lock-up agent contract;
When the HMDX on BSC is transferred to the lock-up agent contract, the LOCK contract of the HECO network will be triggered to unlock the same amount of MDX. Users can view the LOCK contract on HECO through the following address:
0x020c15e7d08A8Ec7D35bCf3AC3CCbF0BBf2704e
17. Latency in receiving assets through the bridge
If the latency occurs, please try to change the node and check whether the wallet link is normal. And if the delay persists, please contact the MDEX team and provide the transaction hash to check the cause of the delay.
18. Is the annual MDX APY compounded?
No, the APY displayed on MDEX website is simple yield.
19. Problems related to incorrect MDX APY in the Boardroom (caused by not adding mining pool rewards).
MDEX repurchases MDX in the marketplace and distributes the MDX through the Boardroom. Therefore, the calculation of APY should be in real time, so there will be a price difference between the APY on display and the actual APY.
20. MDX wrongly sent to the contract address
All the tokens that were mistakenly transferred to the contract address cannot be recovered by the MDEX team. The contract does not allow any asset withdrawal.
21. How can the MDX price on BSC be lower than that on HECO, as the MDX amount on BSC is less than that on HECO?
Since the circulated MDX is produced by mining, MDEX does not reserve tokens, and therefore cannot accept MDX in a short time. We will adjust the amount of MDX in the Boardroom reward pool, the repurchase mechanism, and the way tokens are produced on different chains in the future. In this way, we aim to adjust the swap ratio on the two chains close to 1:1. At present, MDX is used on HECO and BSC, and the APY is quite different. Please invest your assets according to your risk preference.
21. Why is the repurchase suspended on BSC when MDX reaches the average price?
This is related to the insufficient repurchase amount. Specifically, only when a certain amount of repurchase assets is accumulated will it trigger the smart contract to start the burning. Since the amount to be repurchased depends on the system’s regular transfer into the contract, when the current repurchase intensity is greater than the asset transfer frequency, the repurchase will be suspended. As funds are accumulating in the pool, the problem will be gradually solved.
21. Transaction reward calculation
Total reward of the current pool: the sum of the MDX transaction mining rewards that have not been withdrawn since the listing;
Current transaction volume: the transaction volume whose mining rewards are not withdrawn
Weight: the proportion of transaction mining output
Calculation formula: the transaction volume that the user have not withdrawn / the total transaction volume that has not been withdrawn * remaining token rewards in the pool
23. Transaction mining APY
(transaction volume of the user / the total transaction volume of the pool) * pool share x total output of the day * Mdex price / (transaction fee * user transaction volume)
24. User's transaction reward
The transaction volume that the user have not collected / the total transaction volume that has not been collected * the remaining MDX rewards of trading pairs
25. Liquidity mining APR
The staking of the user/total staking*Daily MDX output*MDX price*365*100%
26. Liquidity mining APY
APY = (1+APR/365/100, 365)^*100
27. Boardroom Reward Pool
APY: The user's staking/TVL * reward of the day *100%*365
Number of reward tokens that users can get: (user's staking/TVL * reward of the day)/Unit price of distributed tokens
28. Boardroom Repurchase Pool
If the real-time price of MDX is less than or equal to the average transaction price of MDX in the past 72 hours, the smart contract will execute the repurchase of MDX worth $1,000 every 9s for burning. When the real-time price is higher than the above price, the repurchase and burn will be suspended.
29. Distribution of transaction fees
Of the 0.3% transaction fees charged, 0.03% will be used for Boardroom rewards, 0.2% will be rewarded to LP providers, and 0.07% will be used to repurchase and burn MDX. MDEX will set up a "$15 million MDEX Ecological Fund", and will continue to increase investment in this ecological fund to support Ethereum, Huobi Ecological Chain, TRON, Binance Smart Chain, OKEx Public Chain, Tron More high-quality projects on public chains such as projects.
30. Do I need to pay a transaction fee when creating or withdrawing liquidity?
Transaction fees generated by trading token pairs will be directly reserved in the corresponding LP pools. Only when you create or withdraw liquidity will the transaction fee be injected to the smart contract in the form of LP.
31. Faster bsc nodes in China
1). If your transaction is still pending, please increase your Gas fee (now the average Gas fee has reached Gwei 9-10). You can refer to the fee charged in the latest transaction as a reference for the Gas fee to be paid.
Website: https://bscscan.com/txsPending?&m=&p=6
2) . If you cannot send the transaction (you can't see any transaction confirmed), please change your RPC settings and initiate the transaction again. Currently, online stable RPC nodes can be viewed through https://bscproject.org/#/rpcserver
32.Lockup rules for boardroom
(1)Different lock-up terms
The Boardroom lockup function now supports flexible arrangements for the staking of MDX, i.e. with one click, users can complete the demand deposit or lockups with different terms such as 30 days, 90 days, 180 days, and 365 days in the Boardroom single-token staking pool.
(2) lock-up revenue
Users can choose different lock-up terms to get corresponding returns. Overall, the longer the lock-up period, the higher the yielding rates. That is, with the same amount of stakings, the lock-up income is more generous for longer lock-up periods.
(3)Can I withdraw earnings during the lock-up period?
The user cannot withdraw the principal during the lock-up period from the Boardroom, but can withdraw the lock-up proceeds at any time.
(4) Once the lock-up principal becomes due, it will be automatically turned into current lockup to generate revenue for users. That is, the unlocked assets can be withdrawn at any time; otherwise, the unclaimed principal will generate revenue in accordance with the weight of the demand deposit.
(5) After the lockup becomes due, the contract will automatically transfer the unclaimed proceeds to the user’s wallet address.
(6)Rules for calculating the coefficient of lock-up revenue weight
Basic weight coefficient: 1
For 90 days and below: for each additional day, the coefficient is increased by 0.01.
For 180 days: for each additional day, the coefficient is increased by 0.0125.
For 365 days: for each additional day, the coefficient is increased by 0.015.
Calculated weight coefficients for different cycles:
Demand lockup 1
30 days 1.3
90 days 1.9
180 days 3.25
365 days 6.475
(7) How to look up the original single-token staking pool of the boardroom
The lock-up was launched at 19th July 16:00 (UTC+8), after that, the MDX staking rewards of the boardroom were moved to the lock-up pool. Users in the lock-up pool can choose the lock-up term according to their own preference: current lockup, 30 days, 90 days, 180 days, 365 days.
33. How do I withdraw the MDX after Boardroom lockup expires?
Make sure you have a sufficient amount of lock-up vouchers (XMDX) in your wallet. Enter the Boardroom lock-up interface to unlock your tokens manually and after the unlocking, XMDX will be burned automatically. After that, users can withdraw their tokens.
34.Failed order-placing of Order Book
The order book of MDEX now has the automatic match-making function. If no one responds to the user’s limit order, the order will be automatically matched to trade with DEX, greatly enhancing the trading experience on Order Book. For failures caused by insufficient authorisation, it is recommended to cancel the order and place it again.
35.What are the rules of the repurchase and burn mechanism?
If the price ratio of MDX:XMDX ≥10, XMDX will be repurchased and burned.
If the price ratio of MDX:XMDX <10, MDX will be repurchased and burned.
The triggering condition keeps unchanged, that is, when the repurchase price (72-hour MDX average price) is triggered, the smart contract will automatically execute the repurchase and burn. Otherwise, it will continue to accumulate in the repurchase fund pool.
36. How can I get a higher commission rate for the invitation function?
By filling out an application from the invitation interface or increasing your MDX holdings. For the latter, the commission rate will automatically increase accordingly.
The number of MDX held and commision rate is as follows:
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