MCDEX

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Discover MCDEX's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is MCDEX?

MCDEX (MCB) is a governance token for a decentralized trading platform that offers perpetual swaps and futures on Ethereum. It aims to make DeFi more accessible by providing financial services for users with different risk appetites. The platform features an Automated Market Maker (AMM) and off-chain order book hybrid model, allowing traders to long and short assets with up to 10x leverage. The token is highly volatile and not suitable for all investors, requiring thorough research and understanding of the risks involved.

How is MCDEX used?

MCDEX (MCB) is a governance token issued by the MCDEX community. It is primarily used for governance purposes within the MCDEX ecosystem. The token allows holders to participate in decision-making processes and vote on proposals that shape the future of the project.

How do I store MCDEX?

To store MCDEX (MCB) tokens, you have several options:

  1. Exchanges' Wallets: You can store your MCDEX on exchanges like Binance Wallet or other exchanges that support MCB trading.
  2. Crypto Wallets: You can use crypto wallets like Trust Wallet, Atomic Wallet, or other wallets that support MCB. These wallets offer features like private key encryption and 24/7 support.
  3. Cold Wallets: For long-term storage, you can use cold wallets, which are offline and more secure than hot wallets.

Regardless of the wallet you choose, make sure to follow best practices for securing your private keys and keeping your wallet software up to date.

How to buy MCDEX?

To buy MCDEX (MCB) tokens, follow these steps:

  1. Create an account on a cryptocurrency exchange:

    • Choose a reputable exchange such as Coinbase, Binance, or MXC.
    • Register with your email address, a secure password, and complete any required identity verification steps.
    • Research the exchange's reputation, read user reviews, and compare different exchanges to find the most suitable one for you.
  2. Fund your account:

    • Use a payment method such as a credit/debit card, bank deposit, or peer-to-peer trading.
    • Some exchanges offer third-party payment channels; refer to the exchange's FAQ section for available options.
  3. Buy MCDEX (MCB):

  • Navigate to the Buy & Sell section and select MCDEX (MCB) as the cryptocurrency you want to purchase.
  • Choose the order type: market order, stop order, limit order, or TWAP order, depending on your trading strategy.
  1. Transfer MCDEX to your wallet:
    • You can hold the tokens in your exchange account or transfer them to a personal cryptocurrency wallet such as Metamask for additional security and trading flexibility.

For more detailed instructions and specific exchange procedures, refer to the guides provided by BitScreener, CoinCarp, and Bitget.

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History of MCDEX

MCDEX (MCB) is a governance token issued by the MCDEX community. The token was introduced as part of the community's governance work, aiming to enhance the decentralized perpetual aggregator protocol. The protocol is known for its high capital efficiency, permissionless market creation, and composability, allowing developers to build various ecosystem projects.

Historical Data and Tokenomics

The token's history began on June 1st, 2021, when 2,193,177 MCB tokens were issued. The distribution included 1 million tokens for the team, advisors, and investors, and 1,174,036 tokens for liquidity providers. Additionally, 19,141 tokens were allocated to community contributors.

Trading and Market Performance

MCDEX can be traded on various cryptocurrency exchanges, allowing users to buy, sell, and hold the token. The token's price is highly volatile, and investors are advised to do their own research and understand the risks associated with investing in cryptocurrencies.

Community and Resources

The MCDEX community is active on several platforms, including Twitter, Reddit, Medium, and Telegram. These channels provide updates, news, and discussions about the project and its developments.

Smart Contract and Total Value Locked

The MCDEX smart contract address is 0x4e352cf164e64adcbad318c3a1e222e9eba4ce42. The protocol's Total Value Locked (TVL) is tracked and recorded, providing insights into its historical performance and market trends.

Overall, MCDEX (MCB) is a governance token that plays a crucial role in the decentralized perpetual aggregator protocol. Its history, tokenomics, and market performance are essential aspects to consider for investors and users interested in the project.

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How MCDEX works

MCDEX (MCB) is a decentralized exchange that allows users to trade perpetual contracts without the need for permissions. Here's how it works:

Key Features
  • AMM Technology: MCDEX utilizes Automated Market Maker (AMM) technology, which is highly capital efficient, resulting in low slippage and costs for traders. The AMM is over 1,000 times more efficient than standard XYK AMM for the same liquidity in the pool.

  • Decentralized Oracle Services: MCDEX uses decentralized Oracle services such as Chainlink and Band to ensure high protection and consensus. This helps eliminate the "price manipulation issue" caused by short-term capital fluctuations in centralized trades, leading to increased credibility for perpetual contracts.

  • Market Diversification: The platform allows anyone to create any market, leading to significant market diversification.

  • Maintenance Margin: MCDEX recommends a maintenance margin of 6.7%, and the marked price of the unchanging contract is used only to compute the contract position value, thereby specifying the liquidation price.

  • Native Token: The MCB token is the native token of the MCDEX platform and plays a crucial role in governance and incentivizing community participation.

Trading Process

To trade on MCDEX, users need to follow these steps:

  1. Choose a Wallet: Select a reliable and reputable crypto wallet that supports MCDEX (MCB). Download the wallet application and create a new wallet address or import an existing one.

  2. Buy Base Currency: Purchase the base currency (e.g., ETH or BNB) from a secure centralized exchange or through fiat-to-crypto purchases.

  3. Transfer Base Currency: Transfer the base currency to your self-custody crypto wallet address.

  1. Connect to DEX: Connect your wallet to the decentralized exchange (DEX) that supports MCDEX (MCB).

  2. Swap for MCDEX: Swap the base currency for MCDEX (MCB) on the DEX.

Governance and Community
  • MCDEX DAO: The MCDEX DAO is the heart of the MCDEX community, and its mission is to continuously develop the MCDEX ecosystem. The DAO provides governance incentives for MCB token holders who participate in community governance.

  • Governance Token: The MCB token is the governance token of the MCDEX platform, and it has completed a series of governance work.

Security and Consensus
  • Decentralized Oracle Services: MCDEX uses decentralized Oracle services to ensure high protection and consensus, eliminating the "price manipulation issue" caused by short-term capital fluctuations in centralized trades.

  • Maintenance Margin: The platform recommends a maintenance margin of 6.7% to specify the liquidation price.

Overall Functionality

MCDEX provides a decentralized exchange platform that enables perpetual contracts trading without the need for permissions. It utilizes AMM technology and decentralized Oracle services to ensure a more efficient and credible trading experience. The MCB token and MCDEX DAO play crucial roles in governance and incentivizing community participation.

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MCDEX's strengths

The token MCDEX (MCB) has several strengths that make it a notable player in the cryptocurrency market:

  1. High Capital Efficiency: MCDEX's Automated Market Maker (AMM) is highly capital efficient, providing lower slippage and costs for traders. This efficiency is over 1000 times better than traditional XYK AMMs, making it an attractive option for traders.

  2. Fully Permissionless: The protocol allows anyone to create any market, which dramatically increases market diversification and opens up opportunities for a wide range of trading options.

  3. Composability: MCDEX is an infrastructure protocol, enabling developers to build ecosystem projects like stable coin protocols and basis trading protocols on top of it. This composability makes it a versatile and powerful tool for the development of decentralized finance (DeFi) applications.

  1. Governance Token: The MCB token serves as a governance token, allowing holders to participate in the decision-making process of the protocol. This ensures that the community has a say in the direction and development of MCDEX.

  2. Decentralized Perpetual Aggregator: MCDEX is the first decentralized perpetual aggregator, offering deep aggregated liquidity, optimized trading costs, and up to 100x leverage. It also integrates with leading perpetual liquidity sources like GMX and Gains, further enhancing its capabilities.

These strengths position MCDEX as a robust and innovative player in the DeFi space, offering a range of benefits to traders and developers alike.

MCDEX's risks

MCDEX (MCB) is a decentralized exchange that operates on Arbitrum and Binance Smart Chain, allowing users to trade perpetual contracts and set up markets for these derivatives. The platform has undergone several versions since its launch in 2019, with the fourth version released in September 2022. MCDEX has attracted significant investment, including over $6 million from major investors and $1 million from the community.

Financial Risks

MCDEX faces several financial risks, primarily related to its decentralized nature and the use of smart contracts. These risks include:

  1. Market Risk: The platform is exposed to market risk due to changes in the value of assets and liabilities resulting from market variables such as interest rates, foreign exchange rates, and equity prices. This risk is managed through a framework that identifies, assesses, monitors, controls, and reports market risk exposures across trading and banking books.

  2. Funding Risk: MCDEX is also exposed to funding risk, which arises from a relative lack of availability of funds or the risk that a maturing liability may not be refinanced within a designated timeframe. This risk is mitigated by maintaining sufficient liquidity buffers and diversifying funding sources.

  3. Liquidity Risk: The platform faces liquidity risk due to insufficient readily realizable financial assets to meet financial commitments as they fall due. This risk is managed by operating within strict risk frameworks and limits, conducting stress tests, and maintaining liquidity buffers.

  1. Counterparty Credit Risk: MCDEX is exposed to counterparty credit risk, which arises from the potential default of counterparties in trading activities. This risk is managed through a framework that segregates market risk origination, settlement, and control.

  2. Currency Fluctuations: The platform is also exposed to currency fluctuations, which can impact its financial performance. This risk is managed by properly managing net open positions and detecting the impact of currency fluctuations.

Overall, MCDEX has implemented various measures to mitigate these financial risks, including a robust risk management framework, daily limit monitoring, and stress testing.

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Did MCDEX raise funds?

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MCDEX’s team

  • Developers: 484,000 MCB tokens were allocated to the developers of MCDEX.

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The fundamental analysis assistant for crypto value investors.

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