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MarginX, the world’s first community-based decentralized exchange (DEX), today launched 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 zero gas fees, ultra-high throughput and liquidity, and complete ownership and transparency.
During its beta testing in August this year, the DEX accumulated over 45 billion USDT in total trading volume. Currently, with a small group of invited users, the number of transactions on MarginX continues to climb above 48 million, with the most updated numbers found on FunctionX. starscan,
Dr. Danny Lim, Chief Contributor of MarginX, said:
“Today marks a milestone not only for MarginX but for the DeFi ecosystem, as we advance the notion of true decentralization, and maintain the values of community and ownership through our unique DEX infrastructure. We FunctionX is thrilled to build on the blockchain, as it provides us with the multi-chain architecture and EVM compatibility that sets up the right DeFi environment for MarginX and its future DeFi protocols.
MarginX: A truly decentralized DEX for the community
As the world’s first community-based DEX, MarginX is committed to being a contributor-driven, fully decentralized blockchain infrastructure. To elaborate further, DEXs can be defined by the following key characteristics:
- super low transaction fee
MarginX operates on a multi-chain, cross-chain and para-chain infrastructure that allows the platform to handle a throughput of 2,000-20,000 transactions per block while reducing congestion in the blockchain – leading to gas charges of 0.003 USDT and transaction fees. remains low. Fees as low as 0.04%.
- Users control their assets
Funds are traded through non-custodial wallets, and all transactions are on-chain, so they are secure, verifiable and transparent. Currently, MarginX supports F(X) wallets and is designed to support all decentralized wallets (ie MetaMask, Trust Wallet) via WalletConnect in the near future.
- Full visibility and access
All transactions run on-chain and are 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 check these records, create a fair system of checks and balances.
- Connecting Tradefi and DeFi
MarginX lays the foundation for where other DeFi products can be built, including stock-based derivatives or traditional financial assets. DEXs allow anyone to design and build their own DeFi products on the blockchain, and provide tools that bridge traders old and new to the financial world.
- by the community, for the community
At MarginX, each stakeholder, whether a developer, community manager, or merchant, has their say through their governance framework. The MarginX Utility NFT system also determines each user’s voting rights, trading discounts and referral fees, which builds a sense of community, and provides users with an additional and sustainable source of yield.
Furthermore, in a never before seen DEX style, MarginX offers a paper trading platform Which runs parallel to its live trading platform. This is to allow new users to easily learn using test tokens to trade confidently in the real world.
Dr. Xin Liang Chin, Chief Contributor of MarginX, said:
“We aim to get people to think of MarginX as more than just a DEX – it is a complete infrastructure on which the DeFi protocol can be built. The sky is the limit when it comes to future partnerships and growth, And we’re excited for the industry to be at the helm of this direction. We hope to make finance more accessible, more transparent and more secure for all through the use of blockchain technology.”
Currently, MarginX facilitates the trading of cryptocurrency-based perpetual contracts for BTC, ETH and FX. In line with the values of community and ownership, MarginX will not include any ICO, IEO, token sale or NFT sale, in order to level the playing field for all.
MarginX is the world’s first community-based decentralized exchange built on the Function X network, and operates through a multi-chain and on-chain infrastructure. It aims to bridge the traditional financial markets and the cryptocurrency world by providing a platform where investors can buy, sell and create derivative products of any financial asset, and where each stakeholder has a say in the future of the platform.
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