On June 5, MDEX officially started its first halving. What changes will the halving bring? And what does it mean for MDX holders?
Before answering these questions, we can take a look at a typical example of cryptocurrency halving.
In 2012, Bitcoin halved for the first time, and its price skyrocketed over 84 times afterward; in 2016, Bitcoin halved for the second time, and rose 29 times afterward; Bitcoin’s most recent halving occurred in 2020, and the price peaked near $65,000 after that, which was also over 7 times higher than the $8,700 at the time of the halving. Investors have reached the consensus that havling means skyrocketing prices. Based on bitcoin’s halving history, we can try to predict how MDX will perform after halving.
MDEX currently produces 80 MDX per block, and each three seconds a new block is generated, which makes MDX’s daily output is 4.6 million (including both BSC and HECO chains). After the first halving, the output per block is reduced to 40 MDX, making MDX’s daily output reduced to 2.3 million.
MDEX adopts a “double mining mechanism” that combines liquidity mining and transaction mining. The advantage of this approach is that it can attract users to actively participate in transactions at the early stage of the project launch and thereby empower the platform with funds and traffic. However, there is also this problem that its token MDX has been facing increasing selling pressure in the secondary market, which is one of the reasons why the price of MDX’s tokens has been sluggish. The most direct effect of this halving is to reduce the selling pressure, making it easier to push up prices. In addition, it will also stimulate demand for MDX purchases.
Similarly, in the early days, Bitcoin production was high and mining difficulty was low, so users could easily obtain a large amount of Bitcoin, resulting in low purchase demand and low price. However, with the halving of Bitcoin, its production decreased, and the rising hash kept pushing up the mining difficulty, making it difficult for users to obtain more Bitcoin from mining. Users then started to choose to buy directly from the secondary market, thus driving up the price of bitcoin.
By the same token, on the one hand, with the halving of MDX, when the accelerated release period of MDX is over, it will become more and more difficult for users to obtain MDX through mining. While on the other hand, the IMO and community governance scenarios of MDEX will continue to expand the application scenarios of MDX. Users will have to buy MDX from the secondary market if they want to participate in MDEX activities, which also gives MDX another potential upward momentum.
The halving of MDX is based on the same logic as Bitcoin, but with a higher frequency– once every six months. Its daily production is reduced by half after each halving. In this way, in the first quarter of 2023 year, basically 80% of MDX will be mined out; with the reduction of production, the growth rate of MDX circulation will further decrease. The official MDEX repurchase and burn mechanism as well as the enhancement of community consensus, MDX will enter a new round of upward price change.
Intrinsic Mechanism Drives Up MDX’s Value
In addition to the halving, MDEX also uses other intrinsic mechanisms to drive up the value of MDX.
According to relevant rules, MDEX injects 30% of the daily platform revenue into the pending repurchase pool and automatically executes repurchase and burn when the smart contract is triggered by the repurchase price (72-hour MDX average price). From MDEX’s official website, MDEX has burned more than 6.4 million MDX on BSC and more than 42 million MDX on HECO, and the total repurchase amount is over $115 million according to the latest price of MDX.
MDEX’s “Burning Black Hole” campaign is another supplementary mechanism to accelerate the MDX deflation and further empower the value of MDX. In the Burning Black Hole campaign, MDEX will set aside 300,000 USDT per round to build a burning prize pool, and the rest pool is investments from MDEX users. There are three prizes set up in the campaign, the first prize Jupiler rewards users with 10% MDX from the prize pool; the second prize Saturn rewards users with 100,000 USDT, and the remaining users will share the 200,000 USDT remaining MDX in the prize pool. 90% of the MDX invested by users in the campaign will be burned.
As there are more transactions on MDEX, the transaction fee may also continue to increase, which means an increased number of MDXs will be burned; according to the data on MDEX’s official website, the first round of the Burning Black Hole capaign has burned a total of over 400,000 MDXs. If the campagin took place on a daily basis, the average daily MDX burn would be doubled. Along with the regular repurchase and burn mechanism. it will enable MDX to enter the deflationary stage in advance. That is, the daily MDX output wil be less than the daily MDX burned. This deflation will in turn increase the speed of MDX appreciation.
A horizontal comparison with DEXs
Let us now horizontally compare MDEX with other mainstream DEX:
Project
lock-up volume
daily transaction volume
Total market value
Uniswap
6.6B
1.12B
27B
Sushiswap
3.9B
0.56B
3.02B
Pancake
8.1B
0.75B
5.61B
MDEX
4.01B
2.50B
2.46B
Data source: DeBank
From the table, it can be seen that, at present, the lock-up volume of MDEX is about 1/2 of Pancake, 2/3 of Uniswap, and basically at the same level as Sushiswap. But its average daily transaction volume of $2.5 billion is far ahead of the other three DEXs, and even higher than their sum. However, in terms of the market cap of MDX in circulation, it is only 1/11 of UNI and less than 1/2 of CAKE. Therefore, if the valuation logic is similar, then MDEX is just beginning to discover its value.
The above comparison of mainstream DEX shows that, in terms of total liquidity, MDEX is still somewhat lagging behind the current DEX leaders. But considering that MDEX has been online for the shortest time, its growth history is not comparable to Uniswap that has been in the DEX mark for years, or to Sushiswap and Pancake that have experienced DeFi hot and a bull market. In this sense, MDEX’s achievements in lockup volume and market capitalization are worth celebrating.
The highlight of MDEX is its transaction volume. With the support of transaction mining, its daily transaction volume has been far ahead of other head DEXs, and its growth is even more breathtaking. With the help of the upcoming halving, MDEX will give full play to the virtuous cycle of the repurchase and burn mechanism and dual-mining mechanism, which will bring MDEX a much broader future.
From the development history of DEX, it took Uniswap 840 days to increase the cumulative transaction volume from 0 to 100 billion, while MDEX accomplished the same result in just 50 days. If MDEX continues its current momentum, it will maintain a steady growth in locked positions with the development of the DeFi market, and enhance its transaction volume with the help of the dual-mining mechanism. The existence of repurchase and burn mechanism and the forthcoming having will further empower MDEX to secure a unique place in leading exchanges. Correspondingly, the value of its token MDX is still estimated to have the potential of more than several times of growth.
The Bitcoin Daily is one of the most reliable and leading portal about Technology News, Latest Updates, Financial News, Business and any all subjects related to technology and blockchain.
Rapidfire Unicorn reveals “Hotshot” Shoot-to-Earn PVP Game at GamesBeat NEXT Industry Event
Hotshot is an online multi-player shooter game where players can make money by shooting each other in the game. Each time a player is shot in the game, in-game tokens are transferred from the balance/score of the play that was shot to the shooter’s balance/score.
Fast transaction gaming (FTG) is a new form of play-to-earn (P2E) gaming involving rapid transactions between players. Player-to-player transactions are based on game events – such as a player being shot by another player.
Hotshot’s first Alpha Play Day will be in November 2024 and will be announced imminently. Players can already register for the Alpha Play Day at https://www.hot-shot.io/
Hotshot is an online multi-player game of skill where each player can shoot other players to earn in-game tokens from them. Each time a player is shot in the game, tokens are transferred from the balance/score of the player that was shot to the shooter’s balance/score.
Players can sign into the game by email or by signing in with their blockchain wallet. To play Hotshot, players need to purchase in-game tokens, with each token representing the right to play. Players can purchase in-game tokens in standard amounts of USD $10, USD $20 and USD $50. In-game tokens can be purchased either by credit or debit card, or, by making a crypto asset transfer. Rapidfire plans to accept crypto asset payments on Ethereum, Polygon, Optimism, Arbitrum and Tron blockchains with the following tokens / base currencies ETH, USDT, USDC, MATIC, TRX, SHIB, LINK, OMG, DAI, BAT, UNI, MANA, SAND, AAVE, PEPE, GRT, APE, CHZ, SUSHI, FTM, 1INCH, STORJ, WBTC, IMX, ARB, OP, LPT.
In Hotshot, players enter one of five playground maps to battle against up to 40 players in total. The battle begins – when a player shoots another player, the hit value of, for example, $1 is transferred from the shot player’s balance to the shooter player’s balance.
Rapidfire Unicorn’s patented Fast Transaction Gaming (FTG) systems enable new types of Play-to-Earn gaming with high earning potential for skilled gamers.
Each available Game playground has an advertised hit value of either $1, $2 or $5 worth of in-game tokens.
Players can take out their winnings, by redeeming their in-game ‘tokens’ for funds and withdrawing such funds from the Game to the credit/debit card or blockchain wallet used initially to purchase in-game tokens and the right to play.
Hotshot can be played in any modern Web browser, both on PCs and on mobile devices. Hotshot will be available in most countries of the World.
A spokesperson for Rapidfire Unicorn commented: “This is the advent of GigE Gaming. Fast Transaction Gaming (FTG) brings a new economic dimension to gaming. We cannot wait to see the reaction of gamers when they get to try Hotshot this November!”
The first Alpha Play Day will be held in November. The actual date will be announced soon on Hotshot’s social media channels. On Alpha Play Day, the first 300 players to play Hotshot will receive USD $20 worth of in-game tokens for free. Hotshot in-game tokens are redeemable for real cash or cryptocurrencies.
Follow news about Hotshot on these social media channels:
For further information please contact the Rapidfire Unicorn Press Office at https://www.rfuni.com/
About Rapidfire Unicorn Ltd.
Rapidfire Unicorn Ltd. is a London-based games studio that develops games, gaming technology and intellectual property focused on fast transaction gaming (FTG). The team behind Rapidfire Unicorn spans from 1980s microcomputer game veterans through to modern online games designers that have been responsible for producing over 40 past games titles.
Trivolve Tech, a blockchain and AI product studio and Quixy, a leader in no-code/low-code enterprise solutions, , have officially partnered to co-develop cutting-edge forensic management systems for state governments across India. This collaboration aims to revolutionize the handling and integrity of forensic evidence by integrating Cardano blockchain technology and Zero-Knowledge Proofs (ZKP) into evidence management systems.
The project will initially focus on the Uttar Pradesh state government, which handles over one million forensic cases annually. The key objective is to enhance the forensic chain of custody—a process crucial for ensuring the authenticity and integrity of forensic evidence presented in court.
Addressing the Challenges in Forensic Evidence Management
Forensic departments in India face significant challenges in maintaining the chain of custody for evidence. Current centralized systems are vulnerable to tampering and unauthorized access, posing risks to the credibility of evidence in legal cases. The joint venture between Quixy and Trivolve Tech addresses these challenges by developing a decentralized solution leveraging Cardano’s smart contracts and Zero Knowledge Proofs. This approach ensures that every step in the chain of custody is immutably recorded on the blockchain, providing an unprecedented level of transparency and security.
Integrating Cardano Blockchain for Enhanced Security and Scalability
Cardano, one of the most decentralized and sustainable blockchain platforms, will be integral to the forensic management system through its cryptographic hashing. Cardano operates on a proof-of-stake (PoS) consensus mechanism, which makes it 99.99% more energy-efficient than Bitcoin and Ethereum. This sustainability, coupled with security, positions Cardano as an eco-friendly option for large-scale projects like this one.
Rahul Konudula, CEO of Trivolve Tech, commented, “By integrating Cardano blockchain with forensic management, we are providing a game-changing solution that improves transparency, accountability, and security for law enforcement agencies. This collaboration could set the standard for forensic evidence management across India’s 28 states and 8 union territories.”
About Quixy
Quixy is a no-code/low-code platform that helps organizations automate business processes and build enterprise applications faster with fewer resources. With over 26,000 no-code apps and 200,000 users, Quixy is one of India’s leading software companies.
About Trivolve Tech
Trivolve Tech is a product development studio solving real-world problems through Blockchain and AI. They integrate blockchain into enterprises and government operations, driving innovation and sustainable growth while enhancing liquidity by tokenizing Real World Assets.
RateX Goes Live on Solana Mainnet on 17th Oct 2024. RateX, the world’s first leveraged yield exchange, has officially launched on the Solana mainnet, marking a significant milestone in the decentralized finance (DeFi) space. Built with innovation at its core, RateX enables users to trade synthetic yield tokens (YT) of various yield-bearing assets (YBA) with leverage of up to 10x. This powerful platform introduces groundbreaking solutions to maximize capital efficiency, while addressing common DeFi challenges, such as impermanent loss and limited yield-trading opportunities.
RateX, a proud recipient of a grant from the Solana Foundation and the first-place winner of the Solana Renaissance Hackathon (MCM), aims to push the boundaries of decentralized finance. The platform’s unique value proposition comes from its use of synthetic yield tokens, which track the yield of different assets and allow traders to take positions with leveraged exposure. This gives users more flexibility and opportunities to capitalize on fluctuations in yields, empowering them to generate higher returns on their investments.
The introduction of RateX also brings a cutting-edge Time-Decaying Automated Market Maker (AMM) to the forefront. This AMM is designed to improve capital efficiency while reducing the risks traditionally associated with liquidity provisioning, particularly in expiring contracts. The mechanism minimizes the potential for impermanent loss—a common issue for liquidity providers (LPs) in volatile markets—and aims to eventually eliminate it altogether. As a result, RateX offers a more robust and rewarding environment for both traders and liquidity providers.
In addition to its leveraged yield trading capabilities, RateX caters to users looking for stability by providing fixed-yield options. These options allow users to lock in specific yields over a predetermined period, offering more predictable returns compared to the highly variable DeFi market. Whether traders are seeking high-risk, high-reward opportunities or more stable, consistent gains, RateX provides an ecosystem that accommodates diverse trading strategies.
Key Partnerships with Jupiter and Jito
Further bolstering its platform, RateX has announced strategic partnerships with two prominent players in the Solana ecosystem—Jupiter and Jito. These partnerships not only strengthen RateX’s technological infrastructure but also extend its reach within the DeFi and staking communities.
Jupiter, one of the largest decentralized trading platforms on Solana, is known for its high liquidity and strong governance framework. With an extensive community and a focus on enabling smooth cross-asset trading, Jupiter plays a pivotal role in bringing liquidity to the RateX platform. This partnership ensures that RateX users will benefit from deep liquidity pools, efficient price discovery, and seamless execution of trades. Jupiter’s active governance community also opens the door for collaborative development efforts, allowing RateX to evolve in line with community-driven innovations.
On the staking side, RateX has joined forces with Jito, the leading liquid staking platform on Solana. Jito’s expertise in liquid staking will enhance RateX’s offerings by providing users with access to staking-derived yield-bearing assets. By leveraging Jito’s technology, RateX can integrate liquid staking into its synthetic yield ecosystem, offering even more diverse options for traders to earn yield. With this partnership, users can expect enhanced staking efficiency, better capital utilization, and a broader range of yield-bearing assets available for leveraged trading.
A New Era for DeFi: RateX as a Pillar of Infrastructure
The launch of RateX comes at a time when the DeFi sector is evolving rapidly, and the demand for more sophisticated financial products is higher than ever. By pioneering leveraged yield trading and forming key partnerships with Jupiter and Jito, RateX is positioning itself as a crucial pillar of the Solana ecosystem and DeFi infrastructure at large. RateX’s mission is to redefine how yield movements are traded, making the entire process more efficient, transparent, and accessible to both seasoned traders and new entrants to the space.
As the world’s first leveraged yield exchange, RateX is primed to play a central role in shaping the next phase of decentralized finance, often referred to as the “next DeFi summer.” With its innovative platform, strong partnerships, and focus on capital efficiency, RateX is setting the stage for a new era of financial freedom and opportunities for DeFi enthusiasts worldwide.
Learn more about RateX and join the future of decentralized finance: