Dear valued global MDEXers,
As the year has progressed, we once again find ourselves planning for the future, but also reflecting on the events of 2021. I am sure we can all agree that 2021 was filled with unforeseen challenges and unexpected opportunities. However, I am pleased to report that, for MDEX, despite the challenges brought about by the global COVID pandemic, it was a year of positive transformation. MDEX was born in the boom of decentralized finance and has been following the trend of the times and innovating itself amidst the complex and ever-changing market in Jan 2021. MDEX has continued to press on with its overall mission to service the world. As such, I want to extend a sincere thank you to all of our sponsors, donors, partners, members, volunteers, and community friends – the great work accomplished by MDEX would not be possible without you.
MDEX built a solid moat in multiple aspects, including technology, products, and security. It cooperated with more than 130 high-quality projects and its annual transaction volume exceeds USD 458.8 billion in the year 2021. The highest TVL exceeds USD 5.7 billion; the number of interactive addresses exceeds 1.25 million on both chains; the cumulative number of MDX mined and repurchased & burned surpasses 773 million and 136 million respectively.
As the world’s leading decentralized exchange, MDEX will adhere to its initial aspiration of realizing true value in the blockchain market. It has been devoting itself to transaction services, solving the liquidity issues, minimizing high slippage and interaction friction etc. for users. MDEX will also pay close attention to the development trend of web 3 to provide users with the most practical transaction services in the future. Particularly, MDEX Foundation will incubate more high-quality NFT and GameFi projects to further expand the NFT ecosystem.
The beginning of 2022 has seen the ups and downs of the global economy, which has caused great pressure on the already fluctuating crypto market. Facing these unexpectancies, MDEX has been upholding its core values while simultaneously actively seeking for changes to ensure its sustainability.
We will focus on iterations and updates in the following 5 high priority aspects in 2022:
1. Upgrade the interaction experience and optimize UI
(1) MDEX will comprehensively upgrade UI by improving the functions, visual effects and interaction models of the webpage, so as to bring users a better experience.
(2) It was proved that multi-chain is crypto’s future in 2021. MDEX has successfully realized the simultaneous development on multiple chains since its birth. We will integrate the Swap SDK of HECO, BSC and ETH on transaction page so that users can switch networks with one click to synchronize the multi-chain ecologies
2. Acheive bulk order splitting to reduce transaction costs
MDEX enabled order book feature in 2021. It is one of the pioneers in terms of trading strategies and already has laid a solid foundation to provide users with more intelligent and customized trading strategies.
MDEX will optimize the trading algorithm and intelligent routing, and launch a new feature to allow users to split large orders with high slippages through intelligent routing. If the calculation suggests that the slippage is lower than Gas fee, the bulk order will be divided into multiple transactions to complete the transactions at a more favorable price.
3. Implements liquidity incentive plan in Ethereum
Ethereum has built a complete ecology in terms of both users and developers. It has formed a comprehensive ecological moat and attracted most of the resources and traffic in the crypto field, which makes it more influential than other public chains. We know that only by deploying on multiple chains can we diversify the ecology and satisfy users with different needs and different trading habits. MDEX will implement a liquidity incentive program in Ethereum to reward liquidity providers with farming revenues.
4. Contribute more to the NFT marketplace and explore the new era of Web3.0
As of December 2021, the cumulative turnover of global NFT has exceeded 10 billion US dollars, and the metaverse and art-driven NFTs may continue to flourish. In the new era of Web3, the crypto market is transforming. MDEX will continue to seek cooperation with potential developers around the world, contribute more to the incubation and construction of the NFT marketplace, and cooperate to expand NFT transactions. Meanwhile, MDEX will continue to advance and empower Meta-Elephant NFT.
5. Support high-quality GameFi projects and explore more innovative ways to cooperate to provide users with richer gameplay
Compared with liquidity mining, GameFi can provide users with a better experience of interactivity, immersion, and fun. MDEX will actively seek more cooperation with GameFi projects, provide financial support for its application, build a diversified and integrated value ecosystem, and provide users with more novel ways to play.