Mdex (HECO) is a decentralized exchange (DEX) platform designed to provide a high-performance decentralized finance (DeFi) ecosystem. It operates primarily on the Huobi Eco-chain (HECO) and Ethereum networks, integrating DEX, initial Mdex offerings (IMO), and decentralized autonomous organizations (DAO). Mdex aims to offer a dual-chain model that enhances transaction speed and reduces costs, facilitating efficient cross-chain transactions through its MDEX Bridge.
Mdex (HECO) functions as a DEX protocol on the Huobi Eco-chain (HECO), Binance Smart Chain, and Ethereum. It utilizes a hybrid proof-of-stake (HPoS) consensus mechanism, combining PoW and PoS to select validators who validate transactions and create blocks efficiently. Mdex supports automated market-making (AMM) and facilitates cross-chain transactions with the MDEX Bridge. It also employs smart contracts compatible with Ethereum, allowing for seamless DeFi application development.
Mdex (HECO) serves various applications within the DeFi space:
Mdex (HECO) was launched on January 6, 2021, by the Mandala Exchange project. It quickly rose in prominence, achieving significant transaction volumes and liquidity within weeks. Mdex integrated with the Binance Smart Chain in April 2021, and by February 2021, it held a notable share of global DEX trading volumes. Key developments include introducing a dual mining mechanism, a Boardroom for governance, and advancing cross-chain compatibility to establish a comprehensive DeFi ecosystem.