MarginX, the world’s first community-based decentralized exchange (DEX), launches today on the Function X blockchain. By deploying a first-of-its-kind multi-chain and on-chain infrastructure, it enables investors to trade with near-zero gas fees, extremely high volume and liquidity, and full ownership and transparency.
During its beta testing in August, the DEX accumulated a total transaction volume of more than 45 billion USDT. Currently, with a small number of invited users, the number of transactions on MarginX continues to grow steadily to more than 48 million, the most updated numbers on Function X StarScan (https://starscan.io/).
“It’s a milestone not only for MarginX, but for the Diffie ecosystem as we push the idea of true decentralization and uphold the values of community and ownership,” said MarginX Core Contributor Dr. Danny Lim. “We are excited to build on the Function X blockchain, as its multi-chain architecture and EVM compatibility will pave the way for the DeFi environment for MarginX and 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 contribution-driven, fully decentralized blockchain infrastructure. To further explain, DEX can be characterized by the following key features:
- Extremely low transaction fees
MarginX operates on a multi-chain, cross-chain and para-chain infrastructure, which allows the platform to handle 2,000-20,000 transactions per block, reducing congestion in the blockchain – thereby keeping gas fees as low as 0.003 USDT and maintaining transactions. Down payment 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) Wallet and is designed to support all decentralized wallets (ie MetaMask, Trust Wallet) soon via WalletConnect.
- Full visibility and accessibility
All transactions are chained and recorded on the blockchain. These include not only order matching, creation and cancellation, but also amount settlement, liquidation and administration. Anyone can monitor and scrutinize these records, establishing a fair system of checks and balances.
- Connecting TradFi and DeFi
MarginX lays the foundation upon which other DeFi products can be built, including equity-based derivatives or traditional financial assets. DEX allows anyone to design and build their own DeFi products on the blockchain, and provides tools that connect old and new traders of the financial world.
- By the community, for the community
At MarginX, every stakeholder, developer, community manager or merchant, has a say through the governance framework. The MarginX utility NFT system determines each user’s voting rights, trading discounts and referral fees, which builds a sense of community, and provides users with an additional and eternal source of profit.
Additionally, in unprecedented DEX style, MarginX offers a paper trading platform (https://demo.marginx.io) parallels the direct marketing platform. This is to allow new users to easily learn using trial tokens to confidently trade in the real world.
“Our goal is to get people to think about MarginX as more than a DEX – it’s the entire infrastructure on which DeFi protocols are built,” said Dr. Shin Liang Chin, MarginX Core Promoter. “The sky’s the limit when it comes to future partnerships and developments, and we’re excited to be leading the industry in such a direction. We hope to use blockchain technologies to make finance more accessible, transparent and secure for everyone.”
Currently, MarginX facilitates the trading of cryptocurrency-based perpetual contracts for BTC, ETH and FX. By upholding the values of community and ownership, MarginX It does not include any ICO, IEO, token sale or NFT sale.To level the playing field for all.
For more information, please see our media kit (https://bit.ly/mxmedia) or our website (https://marginx.io).