MDEX forges ahead with determination on its 2nd Birthday
Dear global MDEX’s users:
How fast time goes by and we are now in the new year. Looking back to 2022, the crypto world has been plunged into a period of upheaval. We are so grateful for the love and support along our two-year journey and we wish you all the best in the new year.
In the unpredictable year of 2022, the crypto industry has evolved and iterated at a rapid pace, presenting us with a difficult test to answer as market participants.From Layer 2 to DeFi, NFT, GameFi and Metaverse to Web 3, every word represents the epitome of fast-moving, and also shows the ultimate innovative charm of this industry. We, MDEX, have accepted and embraced the challenges during this turbulent times while consistently working on our product functions, perfecting technical solutions, enhancing brand value, and improving service quality.
Although we’re still in a deep bearish market currently, MDEX adheres to its original mission and vision by working on a long-term strategy without making radical leaps forward. For us, putting user asset safety first is the irreplaceable spiritual core of our business philosophy.
We follow the rules of time and trends, crises and opportunities, competition and cooperation, and implement the concepts of safety, convenience, high performance, and low cost from day one.In particular, we have made significant efforts to resolve issues encountered during trading procedures, liquidity issues, slippage issues, and interactive conflicts among our users. At the same time, we’ve also launched a new function like perpetual trading. In the midst of this difficult times, we even become a better version of ourselves in terms of products and services!
In 2022, we actively build connections with many GameFi projects to provide strong support to our incubated NFT marketplace. other than that, we have held many activities jointly with Binance, OKX, Coinmarketcap(CMC), and other influential brands in the industry. Where, MDEX sponsored Binance BBW Paris Conference 2022, World Blockchain Summit-Dubai 2022, Nexttype X Huobi Tech Metaverse Hackathon partner, and other well-known global blockchain conferences through online and offline.
This year, MDEX has worked with more than 74 great projects, with a total TVL of more than $600 million and a cumulative annual transaction volume of more than $460 billion. As of now, it has more than 1.3 million users, as well as more than 330,000 MDX holders and the annual buyback and destruction of MDX and xMDX has reached 43 million.
In terms of brand value, MDEX was highlighted by well-known overseas media agencies like The Block, the Associated Press, and Yahoo!, as well as a number of influencers. Furthermore, we’ve received great marketing support and reports from many media agencies on Twitter, such as BSC News, BSC Daily, BSC Scan, BSC Project, and other well-known agencies on the BNB Chain.
In the long-term development strategy, MDEX aims to create a new full-scale coverage, full-ecological deployment, and full-chain connectivity business ecosystem. The original mission and vision of MDEX will never change, we will continue to innovate in multi-chain asset cross-chain, Lending, Futures, Leverage etc. However, given the unstable condition of the current market, which leads to frequent company collapses and hacker attacks, it reminds us to be extremely vigilant in making any decision and keep the safety of our users' assets as our top priority.
Throughout the turbulent crypto year of 2022, everyone faces a stern challenge, and with MDEX, we're keeping our own pace in realizing and striving to be the best version of ourselves in terms of product innovation and user experience optimization, aiming to become as comprehensive a DEX as possible over time. And we are confident that we will become an influential industry leader in the field of decentralized finance.
In the new year, the crypto market is in the transformation stage of the digital space, and the new era of Web 3.0 is full of opportunities and challenges. We will continue to seek out global potential developers and build a multi-integrated value ecosystem.
We take the transaction as the starting point, and ensuring the security of user assets is our top priority as a basis. Next, MDEX will:
1. Work towards to multi-chain and multi-dimensional development, building a complex ecology that can adapt to more users
At present, DeFi, NFT, GameFi, Metaverse, and Web 3 are still the main themes of the crypto industry. As the leading DEX and liquidity infrastructure for the innovation of the decentralized financial industry, we will look at the performance of other public chain ecosystems for insights and enlightenment. It is clear that the new generation of public chains has higher performance advantages and can bring better services to users. Therefore, the deployment to the new public chain is the breaking point of MDEX.
Multi-chain deployment means the diversification of ecology. It can accommodate users' various trading needs and also provide balanced products to users with various transactions, allowing users to participate in high-quality projects with promising benefits at a lower cost.
2. Improve automatic market maker (AMM) capabilities, continue to develop AMM technology, and explore scalable solutions
From traditional exchanges, centralized exchanges to decentralized exchanges, we have witnessed the rapid development of the cryptocurrency trading market and the evolution of the entire process. The AMM model has fundamentally changed the way users trade cryptocurrencies and provided users with more convenient services. However, the impermanent risk of loss and low capital efficiency faced by liquidity providers have become industry propositions that we urgently need to solve .
As an important part of decentralized finance, we are thinking about the future growth and value of MDEX. Next, we will put more efforts in granular control of aggregated liquidity, range orders, multi-level rates, advanced oracles, etc., to improve automatic market-making capabilities, maximize capital efficiency, and allow liquidity providers to obtain higher returns on capital.
3. Improve the interactive experience as well as the UI interface of our product to a different level
MDEX will carry out all-round upgrades in terms of architecture layout, UI vision, functional services, interactive experience, etc., and make corresponding optimizations in detail for UX operations such as banners, switching, sliding, etc..Giving our users a more concise, and smoother overall interactive experience.
4. Reconstruct the functional and technical structure of the order book and optimize transaction efficiency.
The demand for price-limited transactions in the crypto field is extremely high, but due to the immaturity of blockchain infrastructure, the experience of DEX's order book function has not been comparable to that of centralized products. Through research, we found a more innovative way to optimize the order book function. Therefore, next, we will reconstruct the order book technical architecture that will greatly reduce transaction slippage losses and provide a more friendly order book transaction front end while ensuring 100% security and composability on the chain for our users.
5. Provide more channels of users access and support multiple Web3 wallet login methods
In the future, we will usher in the great development and prosperity of Web 3.0 and the entire DApp ecology. In the blockchain ecosystem, wallets will serve as gateways to the mainstream. We have found different needs among users for wallets than the current market popular spot, so we will seek more cooperation with wallets in order to facilitate users' access to the Web 3.0 world.
6. Research and develop innovative solutions such as aggregation transactions to provide users with deeper transaction depth and optimal transaction paths
In the DeFi ecosystem, the scattering of liquidity leads to an increase in the overall transaction cost for users. At the same time, a single DEX will not be able to provide the right services for users that with special transaction needs or a larger volume. Therefore, aggregating transactions becomes important. To align with that, we will develop innovative solutions such as aggregating transactions, use more liquidity around interoperability and security, provide users with efficient and low-cost transaction services, thus to form a better trading platform for all users.
Time keeps moving. Looking back on the past two years, we have had many moments of unremitting exploration and belief in facing difficulties in the turbulent market. But we are determined to move forward amidst the upheaval. MDEX will embrace the changes and progress toward Web 3.0 era, Thanks again for the trust. We wish you nothing but the best.
MDEX team
January 19, 2023