The decentralized derivatives exchange (DDE), MCDEX, has received new investment, courtesy of the Binance Smart Chain (BSC). The said investment is courtesy of the newly announced US$1 billion Growth Fund, as BSC aims developing its platform and the entire integrated BSC ecosystem.
Alex Odagiu, Investment Manager, BSC Accelerator Fund, said:
MCDEX has posted tremendous growth since its inception, under the $1B fund we’re looking to support such projects that are capable of scaling for the upcoming wave of mass adoption,” “With this funding, we hope to see even more development and higher liquidity in perpetual markets,
MCDEX is the first next-gen decentralized perpetual swap exchange, built and live on the BSC mainnet. On MCDEX, decentralized perpetual contracts can be created by anyone, with top market liquidity and upto 15x leverage. MCDEX operates a widely-recognized trading and liquidity mining program in BSC’s decentralized perpetual market space.
Powered by MCDEX’s proprietary AMM technology, the exchange optimizes liquidity for bringing more traders to BSC. MCDEX offers market-leading liquidity, market diversification, affordable fee structure, and instant confirmation.
Essentially a Permissionless Automatic Market Maker (AMM), MCDEX had just launched a US$3 million trading and liquidity mining program. Totaling at 95,000 MCB (US$3 million), it is among the largest trading and liquidity mining programs in the perpetuals market.
MCDEX Co-Founder, Jean Miao, said:
We continue to prioritize delivering peak performance for perpetuals traders on our decentralized exchange. This can only be achieved through a commitment to high capital efficiency, and Binance Smart Chain allows us to accomplish that. Additionally, we are very excited to announce our new trading and liquidity mining program in which we will be distributing three-million-dollars worth of MCB.