Mdex (MDX), which rose 186% on a week basis, managed to see ATH by rising to $ 10.11. So what are Mdex and MDX tokens?
The Mdex (MDX) price rose 186% on the weekly chart and hit an all-time high of $ 10.11 on Feb. 22. The increase rate of the MDX token within two weeks was 239%.
The MDX token reached a market value of $ 1.2 billion, placing 63rd in the market capitalization rankings. MDX saw a trading volume of $ 859 million in the 24-hour time frame.
What are Mdex and MDX tokens?
Founded in China, Mdex is a decentralized exchange that works with an automatic market maker (AMM) algorithm. The exchange uses a Huobi Eco Chain and an Ethereum-based DEX model. Mdex; Huobi benefits from Eco Chain’s low transaction fees while taking advantage of the efficiency and diversity offered by the Ethereum ecosystem. The platform allows mining of two tokens at the same time thanks to its dual mining feature.
Mdex; DEX wants to create a new platform by combining IMO / ICO and DAO components on Huobi Eco Chain and Ethereum. With this platform, it is aimed to create a safer ecosystem and increase the rate of return.
MDX, the token of the Mdex ecosystem, is used for in-network financial operations and is also awarded on the platform. In addition, MDX tokens are used for community-based transactions such as voting. While the total supply of MDX is stated as 1 billion, 10% of this supply is reserved for Mdex developers. The current circulating supply is about 124 million. Exchanges where MDX tokens are listed include Huobi, LBank, MXC, Gate.io.