About MCDEX

MCDEX is a decentralized derivatives exchange. Our main product currently available on the MCDEX platform is our fully Decentralized Perpetual Contract on Ethereum (ETH-PERP). MCDEX was founded by Liu Jie, the former architect of Baidu.

Mission

The mission of MCDEX is to make investing easier in Perpetual contracts by creating a secure and easy-to-use decentralized financial platform based on blockchain technology.

Product

Our main product currently available on the MCDEX platform is our fully Decentralized Perpetual Contract on Ethereum with:

1) No expiration date.
2) Trading price soft pegged to the index price by funding rate mechanism.
3) Up to 10x leverage.
4) On-chain funding rate by introducing AMM.
5) Off-chain order book providing better liquidity.
6) Transaction fee: Maker = -0.025%, Taker = 0.075%.
7) Funding rate: up to 0.4%

Our perpetual contract introduces the AMM (Automated Market Maker) to provide on-chain liquidity and generate the funding rate to ensure complete decentralization. The AMM acts as a gateway to trade perpetual contracts for other smart contracts on-chain.

Since the AMM has higher slippage than traditional CeFi exchanges, we have introduced an off-chain high-speed order book for liquidity sensitive users. It is the main entry point for trading our perpetual contract.

The MCB Token

MCB token will be used for capturing the platform's value, for providing liquidity to the AMM, and for taking the risk of liquidation and/or enjoying its benefits. The functionality and use-case of the MCB token will gradually expand thereby increasing the liquidity of the MCB tokens. Regarding the distribution, 25% of MCB tokens will be allocated to the team and initial investors, 25% will be allocated to the foundation for token sales, and the remaining 50% will be used as incentives for the stakeholders.

Security

The security of our exchange, our contracts, and most importantly your money is our top priority. We have fully tested our perpetual contract's code and achieved 100% test coverage for all possible code branches. To ensure the highest order of security, Open Zeppelin and ConsenSys Diligence have audited our smart contract codes. We will continuously improve our system’s security, including oracles, risk control, and global settlement mechanisms.

MCFund Product

MCDEX is on a mission to make investing in perpetual contracts easier by building a secure and easy-to-use decentralized financial platform on the Ethereum blockchain. Our first product is a fully decentralized perpetual contract, which is the main base asset for building our financial services. Its working mechanism can be completely decoupled from any off-chain logic, providing the opportunity to build decentralized, structured financial services to meet the needs of investors with varying risk appetites.

One of these services is the MCFund: built for investors lacking the knowledge to trade perpetual contracts; MCFund simplifies the process by enabling users to invest by depositing their assets in the fund. Bots and social traders will act as fund managers by providing trading strategies. In this way, MCDEX provides a platform for traders with varying risk appetites and trading acumen with a common goal to make profits.

Please refer to MCDEX’s Whitepaper for more details.

Roadmap

2020 Q2

The launch of our perpetual contract (ETH-PERP)

2020 Q3

The launch of our automated and social trading products

The MCB Token Sale (First Round)

Adding Liquidity Mining

2020 Q4

New AMM formula for perpetual contracts

MCB for AMM liquidity incentive

MCB for on-chain governance

MCB capturing platform fees

Launching Decentralized leveraged tokens

IDO (Initial DEX Offering)

2021

Enhancement of MCB.

Use of MCB to provide liquidity for AMM

Use of MCB to cover social losses

Use of MCB to capture liquidation penalties

Introducing an optimistic roll-up mechanism to improve trading performance.

Introducing more types of financial assets to the MCDEX platform.

Reading List

MCDEX Officially launches its Perpetual Contracts with up to 10x leverage

Proposing New AMM Pricing Formula

Why AMM is Crucial to Decentralized Perpetual Contracts

MCDEX 2020 Prospect

MCDEX’s Perpetual Contracts to Leverage Chainlink Oracles for Index Prices

Introducing MCDEX V2- Perpetual

Affiliate Program

For users who sign up on MCDEX via your invite link — you earn 50% of their transaction fees, valid for a lifetime.

If your invited users also become our affiliates, you earn an extra 10% of their transaction fee, valid for a lifetime

Daily settlement, directly into your wallet. Be our business partner, sign up for the affiliate program: https://mcdex.io/affiliate/