Mdex

Halal Rating :
Questionable
Last Price $0.01 Last updated:
Rank 1181
1D Change -2.30 %
Market Cap $11.89m
Circulating supply 950,246,937
Maximum supply None

Crypto Overview

Categories
  • Decentralized Exchange (DEX) Token
  • DeFi
  • Yield Farming
  • AMM
  • HECO Ecosystem
  • BNB Chain

Overview

Mdex is a decentralized exchange (DEX) platform launched in January 2021 that operates on multiple blockchains including Huobi Eco Chain (HECO), Binance Smart Chain (BSC), and Ethereum. The platform combines automated market maker (AMM) functionality with order book trading.

Intended Utility

The MDX token serves multiple purposes within the Mdex ecosystem: It functions as a governance token allowing holders to participate in protocol decisions, provides trading fee discounts, and can be staked to earn a share of the platform's revenue. Users who provide liquidity to trading pairs can earn MDX tokens as rewards.

Actual Utility & Adoption

The platform has maintained consistent usage for decentralized trading, particularly on the HECO and BSC chains. Trading volumes and liquidity provision demonstrate genuine utility of the platform and token. The development team regularly updates the protocol and implements community governance decisions.

Token Distribution & Governance

The token distribution includes allocations for the team, early investors, and community incentives. Team tokens have vesting schedules to prevent immediate selling. The project maintains transparency regarding token economics and governance processes.

Technical Implementation

Mdex operates as a legitimate DEX with smart contracts that have been audited by reputable firms. The platform facilitates actual asset exchange and value creation through its trading and liquidity provision mechanisms.

Crypto Impact

To assign a comfort level investing in Mdex from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Mdex.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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Justification for our Halal Rating