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What Does the future hold for MDEX after the Halving?

Team Bitcoin Daily

Published

3 years ago

on

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.

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Press Release

Elevating Possibilities: The Countdown for WBS Dubai Begins!

Crypto Chain Wire

Published

1 day ago

on

April 17, 2024

By

Mark your calendars for an unparalleled gathering of blockchain and web3 pioneers as the 29th World Blockchain Summit, organized by Trescon and co-hosted by Sun Minimeal, is set to take the stage in Dubai. Scheduled for April 22-23, 2024, at the iconic JW Marriott Hotel Marina, this summit promises to be a cornerstone event, spotlighting the UAE’s progressive embrace of web3 technology and its vision for a future shaped by digital innovation.

The World Blockchain Summit has established itself as a seminal series, bringing together a global cadre of blockchain enthusiasts, innovators, visionaries, thought leaders, and policymakers. This forum serves as a critical platform for deliberating on the integration and implications of blockchain technology across vital sectors, reflecting the global economy’s evolving digital landscape.

Amidst Dubai’s transition towards a digital-first economy, bolstered by strategic government initiatives and a burgeoning digital infrastructure, the city emerges as a global beacon for blockchain and web3 innovation. The inauguration of the Dubai AI & Web3 Campus by DIFC, coupled with the establishment of the Virtual Assets Regulatory Authority (VARA) in Dubai, underscores the region’s commitment to fostering a dynamic digital ecosystem, attracting investors and innovators worldwide.

The upcoming summit anticipates over 2,000 web3 decision-makers, 300+ investors, and more than 100 distinguished speakers. A highlight of the event is the regional finale of the Startup World Cup, orchestrated by the globally renowned venture capital firm, Pegasus Ventures. This competition offers startups a gateway to global recognition and a shot at securing US$1 million in funding at the global finals in San Francisco.

#WBSDubai will showcase a series of compelling keynote addresses, use-case presentations by leading blockchain experts, and thought-provoking panel discussions. The agenda will cover pivotal topics such as the role of Central Bank Digital Currencies (CBDCs), the potential of blockchain to enhance ESG impacts, and the importance of interoperability within the blockchain ecosystem and more.

Some of the notable speakers attending the event include:

  • Pascal Gauthier, Chairman & CEO, Ledger
  • Roham Gharegozlou, Co-founder and CEO, Dapper Labs
  • George Gvazava, Chief Crypto Officer, Bank of Georgia
  • Miriam Kiwan, Vice President of MEA, the issuer of leading regulated stablecoin, USDC., Circle
  • Yosuke Yoshida, Co-CEO of EMURGO Middle East & Africa CEO of EMURGO Kepple Ventures, EMURGO
  • Bandar Altunisi, Head of Development for Binance in Saudi Arabia Head of Institutional Relationships for Binance Dubai (FZE), Binance
  • Stefan Kimmel, CEO, M2
  • Richard Muirhead, Managing Partner, Fabric Ventures

Sharing their enthusiasm about the event, George Gvazava, Chief Crypto Officer, Bank of Georgia said,” In the realm of innovation, the World Blockchain Summit serves not only as a gathering of minds but as a crucible, where ideas are forged into the connections, use-cases and technologies of tomorrow.”

“As Dubai spearheads the UAE’s digital transformation, blockchain technology plays a central role. Trescon is at the nexus, linking pioneering entrepreneurs with elite global investors. The World Blockchain Summit stands as the definitive forum for revealing the forefront of blockchain innovation and insights,” states Sharath Ravi, CMO, Trescon.

Hurry, registration for the World Blockchain Summit in Dubai is still available! Reserve your spot now to be part of one of the year’s most anticipated blockchain and cryptocurrency gatherings. Act fast to seize this exclusive chance to participate and secure your tickets and sponsorship today!!

The 29th edition of the World Blockchain Summit is supported by:

Strategic Partners – DIFC Innovation Hub , Dubai AI & Web3 Campus

Co-Host – Sun Minimeal

After Party Sponsor – Floxypay

Gold Sponsors – Cardano Foundation ,  Medifakt, Crypto2Cash, Anbruggen, Bitflex

Silver Sponsors- Kreation, Coingames, Reat Capital , ACM Finance , Website AI

Lanyard  Sponsor- M2

Badge Sponsor – Ledn

Lunch Sponsor – Payper

Bronze Sponsor- BitGo, M2 ,  Block Convey, Genesis Digital Assets , Hedge , Golfin

Pitch Partners – Reat Capital , soukcola , MeAI , Zherpa , FidesInnova Labs

Exhibitors- DSQ Solutions ,  Reltime, Qoneqt , C# Corner , Islamic Dinar

Official Accommodation Partner- HotelPlanner

Ecosystem Partner – Entrepreneur Media

Business Broadcast Partner – CNBC Arabia

Official Newspaper Partner- The Fintech Times

Official Digital PR Distribution Partner – ZEX PR Wire

ABM Partner- Demandify

Association Partners- Crypto and Blockchain Association, Blockchain Council, Asia Web3 Alliance Japan, European Blockchain Association

Prime Media Partner- Demandteq

Community Partner – Hyperledger Foundation

About World Blockchain Summit (WBS)

World Blockchain Summit (WBS) is an event by Trescon that supports the growth of the blockchain, crypto and Web3 ecosystem globally.

WBS is the world’s longest-running blockchain, crypto, and web 3-focused summit series. Since our inception in 2017, we have hosted more than 20 editions in 11 countries as we strived to create the ultimate networking and deal flow platform for the Web3 ecosystem. Each edition brings together global leaders and emerging startups in the space, including investors, developers, IT leaders, entrepreneurs, government authorities, and others.

To book your tickets, visit: https://www.worldblockchainsummit.com/dxb-apr-24?utm_source=media%20PR%20rd3&utm_medium=ZexPR#Ticket-booking-sections

Contact

Shadi Dawi

Director, Public Relations & Partnerships – MENA, Trescon

shadi@tresconglobal.com

+971 55 498 4989

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Press Release

Big Red LLC Partners with Cornell University’s Entrepreneurship at Cornell Program, Paving the Way for Innovation and Collaboration

Team Bitcoin Daily

Published

3 days ago

on

April 15, 2024

By

Big Red LLC, a pioneering blockchain and cryptocurrency project, proudly announces its sponsorship partnership with Cornell University’s Entrepreneurship at Cornell program. This landmark collaboration signifies Big Red LLC’s commitment to fostering innovation and education within the blockchain space while establishing the project as a trailblazer in the crypto industry.

Named after the iconic Cornell University mascot and inspired by the university’s rich history of academic excellence and innovation, Big Red LLC represents the fusion of tradition and innovation. The project’s moniker pays homage to Cornell’s longstanding legacy and its influential role in shaping the world of blockchain technology.

As the first crypto sponsor of the Entrepreneurship at Cornell program, Big Red LLC embarks on a journey of mutual benefit, bringing together academia and industry to drive groundbreaking initiatives. This partnership opens doors to unprecedented opportunities, particularly for students, for innovation, education, and collaboration within the blockchain space.

“We are thrilled to be partnering with Cornell University’s Entrepreneurship program,” says Christopher Gilles Fourquier, Lead Developer of Big Red LLC. “This collaboration opens doors to unprecedented opportunities for innovation, education, and collaboration within the blockchain space. As the first crypto sponsor of Entrepreneurship at Cornell, we are proud to pioneer this initiative and set a new standard for industry-academic partnerships.”

The corporate sponsorship extends beyond financial support, as two esteemed members of the Big Red LLC team, Frances Regina (Head of Growth and Partnerships) and Christopher Gilles Fourquier (Lead Developer), will be listed on the advisory council of the Entrepreneurship at Cornell program. This prestigious honor places Big Red LLC at the forefront of academic-industry collaboration, as these individuals join an elite group of advisors guiding the program’s initiatives and participating in the entrepreneurship ecosystem at Cornell.

“This is a significant achievement for our team,” says Frances Regina, Head of Growth and Partnerships at Big Red LLC. “Being listed on the advisory council of Cornell University’s Entrepreneurship program is a testament to our expertise and dedication to driving innovation in the blockchain space. We look forward to leveraging this partnership to create meaningful impact and foster the next generation of blockchain entrepreneurs.”

The sponsorship opens doors to a plethora of opportunities for Big Red LLC within the Cornell community. Big Red LLC will be prominently featured as a corporate sponsor at Entrepreneurship at Cornell event, providing a platform to showcase its innovative projects and initiatives to a diverse audience of students, alumni and academics.

Additionally, discussions are underway for Big Red LLC to host its own event with Entrepreneurship at Cornell, focusing on blockchain technology and the future of Web 3.0. This event will serve as an invaluable opportunity to engage with students and faculty at Cornell.

Furthermore, Entrepreneurship at Cornell hopes to host a webinar in collaboration with Big Red LLC, offering insights into the innovative developments within the blockchain industry. This webinar will provide a platform to educate and engage with audiences about the transformative potential of blockchain technology.

“The partnership with Entrepreneurship at Cornell represents a significant milestone for Big Red LLC,” concludes the Blockchain Brothers, one of the strategic advisors for Big Red LLC. “Cornell’s longstanding legacy of academic excellence and innovation aligns perfectly with our vision for long-term domination in the blockchain space. We hope to capitalize on the sponsorship with multiple possibilities for collaboration and growth.” 

Zachary Shulman, Director of the Entrepreneurship at Cornell program, conveyed enthusiasm regarding the partnership, articulating, “Given Cornell’s leadership in blockchain research, it is fantastic to cement this inaugural crypto sponsorship with Big Red LLC. I am very excited to get Big Red integrated into our eship ecosystem, hopefully to the direct benefit of our students!”

The sponsorship with the Entrepreneurship at Cornell program provides credibility for Big Red LLC and also positions the project to bridge the gap between academia and industry. This partnership marks a significant milestone in the journey of Big Red LLC and reaffirms its commitment to pushing the boundaries of innovation in the blockchain space.

Twitter: https://twitter.com/BigRed_TD  

Website: https://www.thebigredcrypto.com  

Contract Address for Big Red $TD: 0x87bbfc9dcb66caa8ce7582a3f17b60a25cd8a248 (AVAX)

For more information on Cornell University’s Entrepreneurship, visit website: https://eship.cornell.edu/

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Press Release

BitDelta’s Bitcoin Halving Mega Giveaway

Crypto Chain Wire

Published

6 days ago

on

April 12, 2024

By

Excitement is building in the crypto community as the Bitcoin Halving approaches, and BitDelta is throwing a massive giveaway to celebrate!

Campaign Period: April 6th, 2024, 09:00 UTC – April 20th, 2024, 23:59 UTC

Get your chance to win your share of USD 100,000 by following these simple steps:

  • Download the BitDelta App or visit bitdelta.com
  • Sign up on the platform using this link
  • Complete your profile information
  • Make at least one trade on any tokens listed on the BitDelta spot exchange during the campaign period

Make more trades and increase your chances of being a winner with BitDelta!

We suggest engaging in multiple trades and maintaining a minimum balance in your spot wallet to boost your odds of claiming victory.

At the end of the campaign, three fortunate winners will be randomly selected:

  1. 1st Place: USD 65,000
  2. 2nd Place: USD 25,000
  3. 3rd Place: USD 10,000  

Important Note: Terms and conditions apply. $100,000 giveaway is applicable for eligible participants during the 2 Week Trading Period only.  

For full details, please read the T&C mentioned below:

  • BitDelta will disqualify any entry from users who do not meet the eligibility requirements as solely determined by BitDelta. 
  • BitDelta reserves the right to cancel the campaign or amend the campaign mechanics or rules at any time at our sole discretion. 
  • In addition to the following rules, please refer to the App Terms & Conditions and Privacy Notice.
  • To participate in the campaign KYC is mandatory and if any event of KYC and compliance issues get noticed by BitDelta, then BitDelta reserves the right to disqualify the user from the campaign. 
  • BitDelta reserves the right to cancel, suspend, or amend the campaign mechanics or rules at any time at our sole discretion without prior notice to you. 
  • In the event of any dispute BitDelta reserves the right to make all final decisions regarding the campaign. 
  • Nothing contained herein shall be construed to be financial advice.  Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by BitDelta to invest, buy or sell digital assets.   

Purchasing cryptocurrencies and digital assets involves a high degree of risk and there is always the possibility of loss, including the loss of all or a substantial amount of your initial purchase price.   

Please seek professional advice before making any financial, investment, or trading decisions. 

Sign Up Now – Click Here

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