Mdex Whitepaper

Tuesday, April 6, 2021
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MDEX Economic Whitepaper 1. MDEX Introduction Mdex is an automatic market-making decentralized exchange based on the concept of fund pools. MDEX proposes and implements a mix-chain DEX model based on the Heco Chain and Ethereum. Mdex combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem. With MDEX, users can also await dual mining mechanism of liquidity and transactions. Mdex is committed to building a DeFi platform integrating DEX, IMO/ICO, and DAO on Heco and ETH, providing users with a safer and more reliable asset selection and configuration, and a higher expected return on investment decentralized token exchange service. As MDEX’s core trading medium token-MDX, this article will describe the economic model of MDX token in detail. 2. Token Economic 2.1 Basic Information Name: MDX (MDEX Token) Total amount: About 1 billion Block time: Every 3 seconds (based on HECO) Block Rewards: 80MDX per block Halve time: halve every six months 2.2 Economic model The total supply of MDX is about 1 billion, of which 10% is used as a team reward for operation, and development, etc., and it will be unlocked in 24 months after being

launched by smart contracts. 7% is used as early investors’ share to provide more sufficient funds and resources; 3% is used for market promotion and brand building; Both are unlocked in twelve months after being launched. The remaining 80% is used for liquidity mining and transaction mining on Heco. The mining reward for each block on Heco is 80MDX, of which liquidity mining accounts for 50%, transaction mining accounts for 50%, and it is halved every six months. 2.3 Fee After the liquidity mining and transaction mining are started, the platform will charge 0.3% of the transaction fee, and 66% of the total fee income will be used to repurchase and burn MDX and buy HT to airdrop to users who mortgage MDX. Among them, 40% of the above allocation ratio is used to repurchase and destroy MDX, and the remaining 60% is used to purchase HT for airdrops to MDX pledgers, and the chain is transparent. The repurchase and burn MDX and buy HT to airdrop to MDX pledgers will be officially initiated 15 days after the token distribution and will be conducted daily. 3. MDX application scenarios As the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used in the following scenarios.

3.1 Governance tokens MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and destruction of tokens. The list is as follows: 3.1.1 Voting The comprehensive evaluation is made according to the transaction volume and total value locked of the project, and the MDX users vote for the decision. 3.1.2 Repurchase and destruction MDX will charge 0.3% of the transaction fee, and 66% of the total fee income will be used to repurchase and burn MDX and buy HT to airdrop to users who mortgage MDX. Among them, 40% of the above allocation ratio is used to repurchase and destroy MDX, and the remaining 60% is used to purchase HT for airdrops to MDX pledgers, and the chain is transparent. 3.2 Standard fundraising tokens MDX is also a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used. 4. Summary MDEX is a highly innovative DEFI project that combines the advantages of DEX on the market and the features of centralized exchange platform token. Based on the Huocoin ecological chain which is developing rapidly and gradually flourishing in ecology, MDEX has a great space for imagination and growth. MDEX aims to lay a foundation for accelerating the ecological construction of DEFI of Huobi ecological chain, and also looks forward to working with the community to build

a more prosperous DEFI ecosystem for Huobi ecological chain. Starting from DEX, MDEX is looking forward to giving play to the unlimited potential of DEFI in the fields of lending, insurance, asset management and so on. The design and implementation of the MDEX project are also continuously improved, including how to attract more external assets, and how to innovate more business model of DEFI. We are looking forward to the active participation of all community members to optimize the MDEX project.