Is Mdex (MDX) a Good Investment?

tl;drMdex is an automated Market make and decentralized exchange protocol that operates on the concept of found pools, sharing some similarities with the standard DEXes.However, unlike other DEXes, it uses a multi-chain model. Mdex Operates on Ethereum, Binance smart chain, and Huobi Echo chain. Like Uniswap on Ethereum and Sushiswap on the Binance Smart chain, users can utilize Mdex to swap any pair of assets using its automatic market-making system. They also receive rewards in the platform token, called MDX. Its price today (October 17, 2021) is $1.24 and trading volume within the last 24-hour was $34,722,983. MDX price is down -5.1% in the last 24 hours. The circulating supply of MDX is 715,614,525.38 MDX tokens. MDX started to trade on the market on 01/27/2021. So, it's too soon to talk about Mina's annual Return On Investment (ROI). However, the data is sufficient to calculate its monthly ROI which is reported -27%. Moreover, MDX outperformed compared to the top 1500 projects of the market, which saw an average ROI of 11,763%. Talking about market capitalization, at the date of writing this post (10/17/2021), MDX is ranked 107 among all crypto projects in the market, with an approximately $806 million market cap. Also, its liquidity score is 48% below the market's average score, which means that you might face challenges selling your Mdex if the market is falling.
Is Mdex (MDX) a Good Investment?
Is Mdex (MDX) a Good Investment?
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Introduction

Mdex is an automated Market make and decentralized exchange protocol that operates on the concept of found pools, sharing some similarities with the standard DEXes.However, unlike other DEXes, it uses a multi-chain model.

Mdex Operates on Ethereum, Binance smart chain, and Huobi Echo chain. Like Uniswap on Ethereum and Sushiswap on the Binance Smart chain, users can utilize Mdex to swap any pair of assets using its automatic market-making system. They also receive rewards in the platform token, called MDX. There are a few interesting things about MDX that caught my attention as somewhat rare features:

  • Mdex is interested in the concept of repurchase and burn; similar to Bitfinex's LEO token, Mdex could buy MDX on the open market and burn tokens it purchases. This reduces supply, making any leftover coins more rare.
  • Mdex is also interested in the purchase and reward mechanism. This means that end Mdex could purchase MDX tokens on the open market And reward users with those tokens instead of uncirculated MDX.

Mdex is primarily used for staking, governance, and liquidity mining. For governess, MDX holders participate in community voting to determine transaction fee ratios and review other essential rules. Rules like implementing purchase and burn Or purchasing and reward mechanisms are part of the voting process. Liquidity mining is the suit-and-tie version of the term yield farming. An interesting fact about Mdex is that its code has been audited by the security audit firm CodeSafe. 

How does Mdex work?

One of the best platforms in the ETH blockchain over Uniswap and SushiSwap is the Mdex platform. There are many outstanding features in this platform that users benefits from, including:

  • Switching in pools

In the flexible Mdex pooling system, users can migrate one pool to another. However, because of gas fee increment, this is costly on other DEx platforms.

  • High-speed transaction

The Mdex platform is designed on the Heco chain. Therefore, there is no delay in transactions and its speed is higher in comparison to Unisawp. Transaction confirms within 3 seconds in the Mdex platform.

  • Low fee transaction

The transaction fees are very low on the Mdex platform. For example, a transaction worth 1000 USDT, charges 0.3%, which can be earned back through mining. Moreover, in Mdex, the transaction fee for members with a number of tokens above $100 million is zero due to the subsidized transaction fee.

Financial Analysis

MDX's price today (October 17, 2021) is $1.24 and trading volume within the last 24-hour was $34,722,983. MDX price is down -5.1% in the last 24 hours. The circulating supply of MDX is 715,614,525.38 MDX tokens. MDX started to trade on the market on 01/27/2021. So, it's too soon to talk about Mina's annual Return On Investment (ROI). However, the data is sufficient to calculate its monthly ROI which is reported -27%. Moreover, MDX outperformed compared to the top 1500 projects of the market, which saw an average ROI of 11,763%.

A capable marketing team and brand awareness have a direct impact on the success of any project. According to our data, MDX's Twitter account saw an exponatial decrease of 62% in the number of followers in Jun 2021. Moreover, its Reddit channel users had zero growth over the same period. However, the Telegram channel users increased by 84%. You can follow MDX's popularity using our report, which is accessible in our website's popularity.

Talking about market capitalization, at the date of writing this post (10/17/2021), MDX is ranked 107 among all crypto projects in the market, with an approximately $806 million market cap. Also, its liquidity score is 48% below the market's average score, which means that you might face challenges selling your Mdex if the market is falling.

You are saying that Mdex (MDX) is the best cryptocurrency to invest in?

We are here to help you make smarter financial decisions by freeing up your intelligence through making it easy to compare thousands of coins. We do all the hard work for you and help you remove emotions from your decisions. However, making an investment decision requires considering your own financial situation and comparing your investment options.

To see our reports and easily compare the available investment options, check out our website.

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