Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from MDEX and our guests were @mdexKiko2021 – representatives of MDEX. The AMA took place on the 8th of September.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
MDEX:
Hello everyone!
Gold Rocket | Satoshi Club:
Dear Satoshi Club community! We are pleased to announce AMA with MDEX
Andrés M. | Satoshi Club:
@mdexKiko2021 welcome to Satoshi Club. It’s a pleasure to have you here.
MDEX:
Thanks!
Gold Rocket | Satoshi Club:
We are very happy to see you again. 😍
Thanks for joining.
MDEX:
Glad to be here again 😊
Gold Rocket | Satoshi Club:
How are you doing😍
MDEX:
I’m good. Thanks.
Gold Rocket | Satoshi Club:
I really hope you brought us a lot of news 😁
Andrés M. | Satoshi Club:
@mdexKiko2021 please tell us, what is new in MDEX since past AMA?
MDEX:
Haha. Yes 😅
Gold Rocket | Satoshi Club:
But to start, make a small intro about yourself and the project😁
I see both your and our TG communities have grown since then 🚀🚀🚀
MDEX:
Many things have taken place after the last AMA. I’ll mention only few.
MDEX ushered in the second halving in September. The second halving of MDX, combining with the existing trident – repurchase and burn mechanism, Burning Black Hole campaign, and Boardroom lock-up product, will bring MDX into the era of low inflation, which is good news for MDX.
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.
We have also launched our referral program. Here are the details https://mdexdoc.gitbook.io/doc/gong-gao-1/mdex-bsc-referral-system-rules
Also, we are about to launch the DAO governance page to ensure effective implementation of the Q3 roadmap on September 2, 2021.
MDEX:
Many other things also 😂
Thank you 😊
Gold Rocket | Satoshi Club:
You didn’t waste your time! it’s great, what you did in such a short time👏👏
Andrés M. | Satoshi Club:
Yes, the great growth you have had is incredible.
MDEX:
Ok. 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.
The concept of DeFi was proposed in 2018, but it wasn’t widely recognized by people. It was not until Uniswap began to have a wealth effect and completed a sensational DeFi user education that many people gradually pay attention to DEX. 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 are to start from trading, commit itself to build 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.
Done.
Andrés M. | Satoshi Club:
An excellent introduction for those who lost past AMA
Let’s proceed.
Q1 from Telegram User @Jamesxmen
I tried MDEX chart’s Beta Version & It’s looking good since it includes multiple trading tools. When will your Chart’s Mainnet go to live? Will you integrate drawing tools in your Mainnet for the chart analysis? But I couldn’t see depth chart in MDEX Chart Beta version. Why is that? Will you update depth chart integration into your Mainnet? Which range of time intervals will you add in Mainnet of the charts?
MDEX:
Even though MDEX has already attracted a lot of users in the DEX industry, MDEX will keep exploring the future direction of the DEX market, and continue to provide users with a better experience. MDEX launched the Market Information Function in July. Therefore, the users can quickly understand the updated information in the market, easily do transactions and gain more transaction opportunities. This function is a new product in the DEX industry and will continue to improve and iterate in the future.
The aforementioned Invitation Rebate Mechanism is also a measure taken by MDEX to benefit users, aiming to better bring more rights and interests to users. MDEX will plan to launch the Order Book Function soon. By then, it will support the users to use limit orders, market prices and other functions for transactions. All pending orders are stored in the order book of blockchain, and the orders in the order book will be matched, transacted and settled accounts according to the conditions of the order. This is a highly decentralized model. After launching this function, it will greatly reduce the gap in transaction experience with centralized exchanges.
Done.
Gold Rocket | Satoshi Club:
Clear answer 👌 thanks
So… When will your Chart’s Mainnet go to live?(c) 😉
Andrés M. | Satoshi Club:
Excellent answer.
MDEX:
It is expected to launch in few months. Update will be released.
Thank you.
Gold Rocket | Satoshi Club:
Many thanks for sharing
Ready to proceed to the next question?😊
Q2 from Telegram User @Asela1112
You have announced a $MDX trading Carnival from 07th of September to 14th of September. Is the purpose of this trading Carnival to bring the price of $MDX to a higher point from the Dumping point since yesterday’s Market Crash? And also you categorized this trading competition into three events called Event 1- New $MDX traders, Event 2- Trade $MDX, Event 3- Trade more, Win more. What are the unique Specialties of each event? How much is the prize pool for each event? What is the minimum value, I should trade to grab some Extra $MDX? Can I trade $MDX on Binance to enter this Trading Carnival or should I trade only on Huobi Global to be eligible for this trading Contest?
MDEX:
My pleasure.
In total, US$100,000 MDX token prize pool.
Event I. New MDX Traders:
US$40,000 in MDX Tokens to be Won!
Rules:
Users who haven’t traded MDX (spot trading) on Huobi Global yet can get an
equal share of our US$40,000 MDX token prize pool by reaching minimum spot
trading volumes of 100 MDX during the promotion period.
Additionally, the first
2,000 users who complete the above trading task will each win US$20 in MDX
tokens.
Event II. Trade MDX for a Share of Our US$30,000 MDX Token Prize Pool
During the event period,
all users with minimum spot trading volumes of 200 MDX are eligible for a share
of our US$30,000 MDX token prize pool.
200 eligible users will
be selected to win US$100 in MDX tokens, according to the Lucky Draw Rules
Based on HECO Block Hash Value.
Other eligible users will get an equal share of our US$10,000 MDX token prize
pool.
Event III. Trade More, Win More: US$30,000 MDX Prize Pool to be Won!
Rules:
During the promotion
period, all users with minimum spot trading volumes of US$300 in MDX tokens can
stand a chance of winning a share of our US$30,000 MDX token prize pool.
The user with the highest
MDX spot trading volumes during the campaign period will win a prize equivalent
to US$9,000.
Users ranking 2nd and 3rd will get a share of our US$10,000 MDX token prize
pool, based on the proportion of each user’s MDX spot trading volumes over the
duo’s total MDX spot trading volumes.
Users ranking 4th and 5th will get a share of US$8,000 in MDX tokens, based on
the proportion of each user’s MDX spot trading volumes over the duo’s total MDX
spot trading volumes.
Other eligible users will earn an equal share of a US$3,000 MDX token prize
pool.
Details are here: https://www.huobi.com/support/en-us/detail/104885327411440
Andrés M. | Satoshi Club:
Is any level of KYC needed for newbies to join the contest?
MDEX:
Yes,
Andrés M. | Satoshi Club:
Great opportunity Satoshiclubbers🥳
Gold Rocket | Satoshi Club:
So many wonderful activities👏👏👏
Andrés M. | Satoshi Club:
I hope our 90k members take advantage of this opportunity😁
Gold Rocket | Satoshi Club:
Thank you very much for preparing so well 🤩
MDEX:
My pleasure.
Andrés M. | Satoshi Club:
Could you share your roadmap? What big events could we expect for next year?
MDEX:
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.
Andrés M. | Satoshi Club:
Innovative features, great job👏
MDEX:
Done.
MDEX:
Thank you!
Gold Rocket | Satoshi Club:
Amazing 👏👏👏
Thanks for your answers! Ready to proceed to the next question?
Q3 from Telegram User @victorogb
In a bid to acquire more community numbers, increase trading activities, and general adoption, MDEX launched its referral program on BSC in late August. This program gave all users the opportunity to invite friends and receive rebates and commissions on such actions. Can you carefully emphasize this, how has the program been so far since it was first launched, what are the necessary rules and guidelines that guarantee successful referrals, rebates, and rewards, and since users can also function as influencers, what are the requirements? Finally, as this program was launched on BSC, will there be a similar program for your HECO & ETH support chains?
MDEX:
The Invitation Mechanism is not an innovative product of MDEX. At present, several leading CEXs in the industry have this mechanism for a long time, and some other DEX platforms have also launched the functions of invitation with good feedback. People who invite friends to do transactions on MDEX not only enjoy platform commission but also save service fees for their friends. This is in line with the original intention of providing users with a cost-effective transaction experience and giving users benefits at the beginning of MDEX’s establishment. This Invitation Mechanism achieves a lower cost of centralized transactions and meets users’ demands.
After the functions of invitation are launched, the MDEX team may hold similar activities such as team transaction competitions in the follow-up operation plan. This can effectively promote the activity of the platform and allow more people to learn about MDEX. The more the transactions on MDEX: the more transaction fees, and the more the number of MDX repurchased and burned, creating a benign closed loop.
Done.
Andrés M. | Satoshi Club:
Thanks for the detailed answer, now, could you tell us more about the token HMDX?
Which benefits it provides for holders?
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.
Andrés M. | Satoshi Club:
Thanks for the detailed answer, exactly what we want😁
Gold Rocket | Satoshi Club:
This is an incredible opportunity
Andrés M. | Satoshi Club:
Let’s proceed with the next question if you are agree
Q4 from Telegram User @JaviSuBs™
MDEX has a mobile or PC-only version, which is the most recommended for users, what is the best advice for novice users like me, to start mining, which would be more recommended the web version or the mobile version? What differences therebetween, liquidity mining and mining, can you explain to us about these mining functions and their correct use? Finally, how important are the communities globally for MDEX, and how do they plan to expand?
MDEX:
Here are the instructions and differences between mobile and PC version
Boardroom Lockup Tutorial: https://mdexofficial.medium.com/boardroom-lockup-tutorial-861321288264
Instruction for mining on MDEX: https://mdexofficial.medium.com/instruction-for-mining-on-mdex-9881e3dbb37a
How to conduct trade mining in Mdex (Mobile Version): https://mdexofficial.medium.com/how-to-conduct-trade-mining-in-mdex-mobile-version-c988e269a699
How to conduct liquidity mining (Mobile Version): https://mdexofficial.medium.com/how-to-conduct-liquidity-mining-mobile-version-405d0c88b0cf
How to conduct liquidity mining (PC Version): https://mdexofficial.medium.com/how-to-conduct-liquidity-mining-pc-version-b74fe6c2e13c
How to cross-chain MDX to BSC: https://mdexofficial.medium.com/how-to-cross-chain-mdx-to-bsc-14a3ec0a07a5
You can search for more guides in our gitbook https://mdexdoc.gitbook.io/doc/yong-hu-zhi-nan
Done.
Andrés M. | Satoshi Club:
What about staking and farming services? Are they different depending of the device?
Gold Rocket | Satoshi Club:
Good guides! Please study, Satoshi Clubbers 👍
MDEX:
We have some Operational Guides on our staking and farming.
How to join the liquidity mining on MDEX
https://www.youtube.com/watch?v=_Int6d6exgg
How to join the liquidity mining on MDEX（smart phone）
https://www.youtube.com/watch?v=G9PAgd9qWoI&t=17s
How to get MDX reward by long term staking in boardroom sector on MDEX
https://www.youtube.com/watch?v=YH6kLSb5PBM
How to perform trade mining, mobile version: https://www.youtube.com/watch?v=XFHC4dIlSqM
How to perform liquidity mining, mobile Version: https://www.youtube.com/watch?v=F-2EunsnNLg
Andrés M. | Satoshi Club:
Thank you, personally, staking and farming are my favorites features
Gold Rocket | Satoshi Club:
Thanks for your answers.
Let’s proceed to the next question.
MDEX:
Same here 😅
Q5 from Telegram User @Jonahapagu**
MDEX decided to launch Boardroom on February 3, 2021, and on April 11, 2021 MDEX launched boardroom for Binance Smart Chain(BSC)..I see that the boardroom has features such as; rewards, repurchase and burn, and the burning black hole…. So what are these features of the Boardroom in MDEX all about, how do the features work, and how can users participate in the gain rewards from the boardroom….
MDEX:
MDEX launched the Boardroom Lock-up function on July 17, marking another step towards DAO. Up to now, the MDEX’s double-chain lock-in market capitalization has exceeded $600 million, MDX lock-in rate of 89.62%, MDX with more than 30-day lock-in volume accounting for 62.93% of the total circulation, and only 6.4 % of actual circulation of MDX.
MDEX has been maintaining outstanding performance because of its premium products. On the one hand, it creates differentiated liquidity mining and transaction mining functional value for its users. On the other hand, the Boardroom staking lock-in gives users more rights and interests, allowing MDX holders to enjoy long-term ecological benefits and governance rights
For the 365-day lockup of MDEX boardroom, the APY is over 500%, and users can choose to lock up their assets for 30 days, 90 days, 180 days, or as a demand deposit. Although the lock-up APY might fluctuate, it is still ranking on top among its peer products on the market.
Done.
Gold Rocket | Satoshi Club:
Wow! Great APY😁🚀
Andrés M. | Satoshi Club:
A great reason to buy the token. Btw, which other exchanges can we find MDX? Do you have partnerships with other exchanges and projects?
MDEX:
You can buy MDX on Huobi and Binance 😊
Andrés M. | Satoshi Club:
Excellent😁
Thank you so much for your answers, 6th question is knocking the door 🥳
Q6 from Telegram User @Lestmarisv13
The Hunter Plan is the MDEX Foundation for Global Ecology’s development support plan. The Hunter plan totals $ 10 million, prioritizing funding projects that share the MDEX philosophy, including high-quality projects like Metaverse, DeFi, GameFi, and NFT. What are the objectives to be achieved by the Hunter plan? How does the Hunter plan work? Who is this plan aimed at? Can you briefly introduce us to the Hunter plan?
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: https://mdexdoc.gitbook.io/doc/announcement/mdex-foundation-releases-usd10-million-hunter-program-to-help-ecological-projects.
Andrés M. | Satoshi Club:
Very noble cause👏👏
Is there a deadline to submit the application?
MDEX:
No.
Thank you 😊
Gold Rocket | Satoshi Club:
Thanks for your great answers!
MDEX:
My pleasure 😊
Part 2 — live questions from the Telegram community
Q1 from Telegram user @MdLuffyo
Is $MDX a deflationary coin? I noticed one of your use cases is “Rebuy and destroy $MDX”, can you share with us why? Do you have a burning and staking system for $MDX, what are your rates?
MDEX:
We do allocate some Mdex of our daily platform income into the repurchasing and burning pool, the allocated funds are used for repurchasing 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.
Q2 from Telegram user @Rakshitx5
Is there any Ambassador program going on? Or any other way to contribute to the Mdex. I am also a strong Hodler of MDEX.
MDEX:
We launched our M-angle recruitment program which is same as Ambassador Program to help us create awareness in other regions.
M-Angel is a long-term personal partner of MDEX community, helping MDEX to build and care for an 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:
https://mdexdoc.gitbook.io/doc/activity/mdex-is-launching-its-second-round-of-m-angel-recruitment
Q3 from Telegram user @nitrogenpower
Are there any plans for MDEX to create an NFT marketplace in the platform?
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.
Q4 from Telegram user @sweetdoge
How can I join the liquidity mining on MDEX with my smartphone is it possible to join with phone?
MDEX:
Here is the guide on how to perform liquidity mining on mobile devices
How to join the liquidity mining on MDEX（smart phone）
https://www.youtube.com/watch?v=G9PAgd9qWoI&t=17s
How to perform liquidity mining, mobile Version: https://www.youtube.com/watch?v=F-2EunsnNLg
Q5 from Telegram user @Ratash97
Is the MDEX Bug Bounty Campaign still running and how can we join?
MDEX:
Yes. We have our bug bounty campaign. Developers participating in the bug bounty campaign will receive MDX rewards ranging from 60,000U to 6,000U, making a total of over 120,000U. All rewards will be distributed in the form of MDX tokens.
In addition to severity evaluation, the impact of the vulnerabilities found and the difficulty level of finding such vulnerabilities will also be considered when deciding reward levels. You can visit our website www.mdex.com for more details on our bug bounty campaign.
Q6 from Telegram user @Nonerlike
A good project has a good use case and utility. What is the use case of $MDX, can you mention some??
MDEX:
MDX token is a utility token which is the core medium of exchange token of MDEX, MDX can be used as Governance tokens. It’s 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.
Q7 from Telegram user @Einsteinyl
People always check about safety and security from DEX because much hack issues right now, I would like to know-how if the safety from MDEX project? How did you make sure that you are secure?
MDEX:
Mdex smart contract is safe and well audited by a reputable auditing firm such as codeSafe, certik. User’s 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 www.mdex.com .
Q8 from Telegram user @Indomiekuy
I think MDEX is a great and good project but can you explain what makes MDEX special from a similar Decentralized exchanger? What feature can attract people into MDEX?
MDEX:
Mdex has a very low transaction fee to compare to other Decentralized exchanges and currently we have some unique features which make mdex an outstanding Dex from its competitors. Some of the features are Transaction mining, repurchase, and destruction, board of directors, and annualization remain very high.
Q9 from Telegram user @Zohaya
Is there a minimum amount to stake in MDEX?
MDEX:
No. There is no minimum amount, you can join the staking with any amount.
Q10 from Telegram user @tatarrama
PARTNERS are the most important stakeholders that strengthen the ecosystems of all projects. Could you tell us about MDEX’s partners and the partnership strategy it has adopted?
MDEX:
Yes, I agree with you about cooperation and partnership are important for the success of the project and this is one of our priorities. We already have some partnerships and also working on more collaboration and partnerships with some valuable firms that will provide long-term sustainability for the project. You can check our website to find our existing cooperative partners https://mdex.com/#/
Part 3 – Quiz Results
In the final part, we tested your knowledge in terms of MDEX. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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