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What is MDEX (MDX)? Complete set of decentralized exchanges on Huobi ECO Chain (HECO)

What is MDEX (MDX)? Complete set of decentralized exchanges on Huobi HECO Chain

If on Binance Smart Chain there is Pancakeswap, then on Huobi HECO Chain there is MDEX.

What does MDEX have compared to other names in HECO Chain? What function does it have and what is its product?

Today, let's learn about MDEX (MDX).

What is Mdex (MDX)?

Mdex is a decentralized exchange based on AMM (automatic market-making) mechanism operating on Huobi's ecological chain, HECO Chain.

Mdex integrates various advantages of multiple public chains to create a synthetic DEX ecosystem (IMO, DAO...).

Mdex uses a “dual mining mechanism” (liquidity mining and transaction mining).

MDX - token of Mdex, not only has the function of a means of exchange, but can also be used in voting, redemption, fundraising and other purposes.

MDX token value of MDEX

Users who trade on Mdex can earn mining rewards, which will be a magnet to attract more people to the exchange.

According to public information disclosed by MDEX: the exchange's revenue comes from trading fees, which account for 0,3% of trading volume.

Out of the 0,3% transaction fees charged, this number will be used to grow the MDX ecosystem:

  • 0,1% used to promote the development of ecological projects
  • 0,14% to reward mining users
  • 0,06% to redeem and burn MDX

MDX can be used in the following cases:


  • Vote (MDX holders can propose to list a token by voting)
  • Buyback and Burn (0,3% of the transaction amount is used as transaction fees, 0,14% of which is used for rewards and 0,06% for burning).
  • Fundraising (Similar to ICO on Ethereum, MDX is a standard fundraising token based on HT-IMO, the decentralized fundraising protocol on MDEX) – Therefore, MDX price will increase when IMO.

Distribution of MDX tokens

  • Total tokens in circulation: 1 billion MDX
  • Block generation cycle: 3 seconds on average
  • Block reward: 80 MDX per block
  • Halving cycle: will halve every six months

distribution mdx

Liquidity Mining (Liquidity mining)

  • Transaction fee: 0,3%
  • Total daily mined tokens: 785,532 MDX
  • Total monthly mined tokens: 23,565,972 MDX.


Boardroom reward pool

  • 0,14% of the transaction fee (0,3%) will be used as a reward to give to users who join the pool on Boardroom on the MDEX exchange.
  • The reward includes trading pairs as shown in the image below and the token consists of two types: HT and MDX.
  • Monthly Cumulative Reward: 35 million USDT.


Trading Mining

  • On MDEX, users who participate in trading can receive a reward of MDX.
  • The trading pairs with the highest reward ratio: USDT/HFIL, SNX/USDT, AAVE/USDT, USDT/HBCH and HDOT/USDT, and APY currently exceeds 600%.
  • In addition to the main assets, it also includes a large number of DeFi ecological projects, such as AAVE and SNX.

mdex decentralized exchange

Market position and performance of MDEX

On February 25, MDEX's 2-hour trading volume in the DEX sector surpassed the $24 billion mark, at one point surpassing both Uniswap and Pancake.


So far, the market share of MDEX reaches 51,54% in DEX.

MDEX is a decentralized exchange based on the AMM mechanism and built on Heco, and it also supports the Ethereum public chain.

MDEX also has a “dual mining” mechanism.

MDX will be redeemed and burned regularly, which will ensure a gradual increase in MDX value in the future.

The gas fee of MDEX is very cheap, the average of each transaction is about 0,001 USD, which is extremely cheap compared to its competitor Uniswap.

And users will also receive a reward of MDX for the transaction fee paid.

A month has over 45,000 daily active users and a total trading volume of $40,8 billion.

TVL is currently more than 2 billion USD.

Following is the market performance data released by MDX:


Compare DEX 

Below is a brief summary and comparison of the market data of DEX:


Compare uniswap, MDEX, Pancake swap , and Sushiwap until February 25, 2:

  • Looking at the above statistics, it can be seen that the trading volume of MDEX ranks first in the market. While TVL is 1/2 of Uniswap and 2/3 of SushiSwap, and has surpassed PancakeSwap.
  • However, the circulating market value of MDX is only 7,3% of UNI, 26,37% of SUSHI and 34,43% of CAKE. Which means the value of MDX is still undervalued.
  • In terms of trading pairs, MDEX currently has 1,510 pairs, compared to Uniswap's more than 30,000 pairs.
  • If the Heco ecosystem gets better and better, the demand on MDEX will be much higher.

What's on MDEX?

MDEX has all the functions of a standard DEX, in general it is no different from other exchanges.

Users can Swap, Trading Mining and Liquidity Mining (contributing shares to farm, I will guide in detail below).

guide to farming on heco

Is MDEX safe to use?

As mentioned above, on Binance Smart Chain there is Pancakeswap, on Huobi HECO Chain there is MDEX.

MDEX is being considered the No. 1 on HECO, so users can rest assured when trading or farming here.

In addition, MDEX has been AUDIT and experienced development team.

guide to farming on heco of huobi

Note: stay away from projects labeled “Rug Pull”. Rug Pull are dead projects, scammers take all of the users' coins to run

guide to farming on heco

Guide to farming on MDEX

Setting up Huobi ECO Chain

First connect Huobi ECO Chain (HECO) to MetaMask.

Go to > Networks and click on Custom RPC.

integrate huobi eco chain into metamask

Fill in the configuration for the network as below and then click the Save button.

add huobi eco chain to metamask

network nameNew RPC URLChain IDCurrency Symbol (optional)Block Explorer URL (optional)

Trading on MDEX

The above transaction is also very simple, first you connect to the Metamask wallet that has integrated Huobi ECO Chain.

guide to farming on heco

Go to Swap and select the type of token you want to trade.

guide to farming on heco

Then check the transaction and confirm it on the wallet.

Instructions for adding liquidity and farming on MDEX

Click on Swap > Share Capital.

guide to farming on heco

Then select “add liquidity”.

guide to farming on heco

Click Approve and wait for it to confirm.

guide to farming on heco

Then click Supply.

guide to farming on heco

Then click Coinfirm Supply. And coming here means you have contributed your shares to MDEX to farm.

guide to farming on heco

Next, go to the Liquidity Mining section.

There will be 2 more items here, “Mdex LP” and “Single Token”.

guide to farming on heco

Mdex LP is my pairing to farm, and in Single Token means single token, I only choose 1 coin to farm.

There are many farming options and interest rates are varied.

To farm, you need to have that coin to put it into liquidation.

For example, to farm the WHT/USDT pair, you must have WHT and USDT. If you don't have WHT, then go to the swap section to trade (review the trading instructions above).

Choose the pair you want to farm (for example, here I choose WHT/USDT).

guide to farming on heco

Click on Approve.

After Approve it will show a + sign, click on it.

guide to farming on heco

This is the proof that I provided earlier. Then select MAX and press Confirm.

guide to farming on heco

Ok, if you've come this far, it's done, the rest is just waiting for the reward.

This will depend on which interest rate you choose, the rewards you receive will show up in real time.

guide to farming on heco

If you want higher yields then you can choose other pairs, for example ETH/WHT.

Finally, if you want to harvest then click “Harvest All Token”, it will show the transaction window, click confirm and the reward will be returned to the wallet.

And if you don't want to farm anymore, click "Unstake" to receive the reward and the original, here's an example.

Here I don't like farming anymore, I click Unstake > select Max and Confirm.

guide to farming on heco

Then it will return you the proof of liquidity, then you go to Liquidity > remove it, to withdraw WHT and USDT.

You go to Swap > General Capital, scrolling down will show your liquidity proof.

guide to farming on heco

Note that when you farm, it will not show this item, it only shows when you Unstake.

You click Remove to proceed to withdraw the coin.

guide to farming on heco

Drag MAX to withdraw all. Here I withdraw all. Then click “Approve” and click “Remove”, then select Confirm to withdraw.

guide to farming on heco

Ok that's it, check your wallet, it has returned the coin to your wallet already.

MDEX's upcoming plan

In the future, MDEX will establish a fund to support new projects on HECO or BSC…

In addition, MDEX will develop more Layer 2, Bridge...


MDEX has partnerships with many big names such as Huobi, Binance, CoinmarketCap…

mdex partnership

MDEX's community channels and social networks

Github: https://github.com/mdexSwap

Media: https://mdex.medium.com/

Telegram: https://t.me/MixDex

Twitter: https://twitter.com/Mdextech

Discord: https://discord.com/invite/3TYDPktjqC

Summary and conclusion

The appeal of the bull cycle and high performance in the DeFi market has led to strong growth of DEXs since 2021.

However, the increasing gas fees in Ethereum have created a so-called “spillover effect” in the market, which has spurred the development of DEXs like MDEX and Pancakeswap.

MDEX currently has relatively low transaction costs, and users even receive a reward of MDX when trading.

In the long term, as the ecosystem stabilizes, low transaction fees, low slippage, diverse trading pairs and high transaction quality are the core competitive factors of MDEX compared to other DEXs.

5/5 - (3 votes)
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