Community-Based Decentralized Exchange MarginX Launched on Function X Blockchain
On the Function X blockchain, MarginX, the world’s foremost community-led decentralized exchange (DEX), was launched. It operates on a unique multi-chain and on-chain architecture that enables investors to transact with near-zero gas costs, ultra-high processing capacity and liquidity, as well as complete ownership and openness.
During its August beta test, the DEX amassed more than 45 billion USDT in total transaction volume. With a limited set of invited users, the number of MarginX transactions has surpassed 48 million, with the most recent figures available on the Function X StarScan (https://starscan.io/).
“Today is a landmark for not only MarginX, but also the DeFi environment, as we advance the concept of real decentralization and preserve the principles of community and possession via our unique DEX architecture,” stated Dr. Danny Lim, MarginX’s Core Contributor. “We are ecstatic to work on the Function X blockchain, as it gives us with the multi-chain framework and EVM interoperability that creates the ideal DeFi ecosystem for MarginX and its forthcoming DeFi covenants.”
MarginX is devoted to creating a contributor-led, completely decentralized blockchain network as the world’s initial community-powered DEX. To explain, the DEX is characterized by the following characteristics:
MarginX operates on a multi-chain, cross-chain, and para-chain architecture that enables the system to handle 2,000–20,000 trades each block while decreasing blockchain bottlenecks, resulting in gas expenses as little as 0.003 USDT and transactions costs as little as 0.04%.
Funds are exchanged using non-custodial wallets, and all trades occur on-chain, making them safe, traceable, and open. MarginX now accepts f(x)Wallet and plans to back all decentralized wallets (such as MetaMask and Trust Wallet) in the coming years via WalletConnect.
On-chain trades are all documented on the blockchain. In addition to transaction matching, origination, and cancellation, they include financing rate settling, liquidation, and administration. This mechanism of checks and balances is transparent and open to public scrutiny, making it fair.
MarginX establishes the groundwork for the development of additional DeFi products, such as stock-based derivatives and conventional financial assets. The DEX enables anybody to construct and develop their native DeFi solutions on the blockchain and providing mechanisms that connect the gap between traditional and emerging financial traders.
Under its governance architecture, each MarginX stakeholder, whether they a programmer, community manager, or speculator, has a voice. B esides determining each user’s voting privileges, trading rewards, and referral charges, the MarginX utility NFT platform fosters a feeling of community and provides users with an extra and everlasting source of income.
In an unprecedented DEX fashion, MarginX also provides a paper trading system (https://demo.marginx.io) that operates in tandem with its realtime trading platform. This is so that new customers may comfortably trade in the actual world after learning with trial tokens.
Dr. Shin Liang Chin, MarginX Core Contributor, stated, “We want people to see MarginX as far more than simply a DEX; it is a whole architecture on which DeFi covenants may be constructed.” “When it involves future collaborations and innovations, there are no limitations, and we are thrilled to be steering the industry in this path. By making use of blockchain technology, we want to make money more affordable, open, and safe for everybody.
MarginX now supports the trading of permanent cryptocurrency contracts for BTC, ETH, and FX. In order to equalize the playing field, MarginX will not engage in any ICO, IEO, token sale, or NFT sale, in line with its ideals of community and participation.