Grand Cayman, Cayman Islands, 8 November 2022, Chainwire
Margin Xis the world’s first community-based decentralized exchange (DEX), launching today on the Function X blockchain. It runs on a first-of-its-kind multi-chain and on-chain infrastructure that allows investors to trade with near-zero gas fees, ultra-high throughput and liquidity, full ownership and transparency. .
During beta testing in August of this year, DEX accumulated a total trading volume of over 45 billion USDT. Now, with a small group of invited users, MarginX’s transaction count continues to rise steadily above his 48 million, the latest figures found on Function X StarScan (https://starscan.io/).
“Today marks a milestone not only for MarginX but also for the DeFi ecosystem as it promotes the concept of true decentralization and maintains the value of community and ownership through our own DEX infrastructure,” says Core Contributor at MarginX. said Danny Lim, Ph.D. “The Function X blockchain offers us a multi-chain architecture and his EVM compatibility that sets his DeFi environment suitable for MarginX and his DeFi protocol in the future, so we can build on the Function X blockchain. I am excited about.”
MarginX: A True Decentralized DEX for the Community
MarginX, the world’s first community-based DEX, is committed to becoming a contributor-driven, fully decentralized blockchain infrastructure. In more detail, a DEX can be defined by the following key features:
- Ultra-low transaction fees
MarginX runs on multi-chain, cross-chain, and para-chain infrastructure, allowing the platform to handle throughput of 2,000-20,000 transactions per block, while reducing blockchain congestion, allowing 0.003 USDT and transaction maintain low gas prices. Only 0.04% commission.
- User manages own assets
Funds are traded through non-custodial wallets and all transactions are done on-chain, making them secure, verifiable and transparent. MarginX currently supports f(x)Wallet and is designed to support all decentralized wallets (i.e. MetaMask, Trust Wallet) through WalletConnect in the near future.
- Complete visibility and access
All transactions are executed on-chain and recorded on the blockchain. These include not only order matching, creation and cancellation, but also funding rate settlement, liquidation and governance. Anyone can track and scrutinize these records to form a fair system of checks and balances.
- Connect TradFi and DeFi
MarginX lays the foundation upon which other DeFi products can be built, such as equity-based derivatives and traditional financial assets. DEX allows anyone to design and build their own DeFi product on the blockchain, providing tools to connect old and new traders in the financial industry.
- By region, for region
At MarginX, all stakeholders, including developers, community managers, and traders, have a voice through our governance framework. The MarginX utility NFT system also determines each user’s voting rights, trading rebates, and referral fees, building a sense of community and providing users with an additional, permanent revenue stream.
Furthermore, in an unprecedented DEX style, MarginX is a paper trading platform (https://demo.marginx.io) runs parallel to the live trading platform. This is to make it easier for new users to learn using test tokens to trade with confidence in the real world.
“Our goal is to get people to think of MarginX not just as a DEX, but as a whole infrastructure on which DeFi protocols can be built,” said Dr. Xin Liang Ching, MarginX core contributor. “The possibilities are endless when it comes to future partnerships and developments, and we are excited to steer such a direction for the industry. Blockchain technology will make finance more accessible for everyone. We want to make it easier, more transparent and safer.”
Today, MarginX facilitates the trading of BTC, ETH, and FX cryptocurrency-based perpetual contracts.To remain consistent with our community and ownership values, MarginX ICOs, IEOs, token sales and NFT sales are not included.to equalize all playing fields.
MarginX is the world’s first community-based decentralized exchange built on the Function X network and running via multi-chain and on-chain infrastructure. By providing a platform where investors can buy, sell and create derivative products of any financial asset, and where all stakeholders can have an opinion on the future of the platform, we are working to bridge traditional financial markets and cryptocurrencies. We aim to bridge the world of currencies.
Marketing & Communications Lead, Dione Chen, MarginX, [email protected]