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Classified in: Science and technology, Business
Subject: VEN

Binance Smart Chain invests in MCDEX under the $1 billion Fund


SINGAPORE, Oct. 21, 2021 /PRNewswire/ -- MCDEX, the decentralized derivatives exchange has secured an investment under the recently launched $1 billion Growth Fund set up by Binance Smart Chain (BSC) the leading DeFi, NFT and GameFi infra platform to enhance the development of the platform integrated with the BSC ecosystem.

MCDEX is the first decentralised perpetual swap that is live on the mainnet where anyone can create any perpetual market. It runs one of the largest trading & liquidity mining programs in the decentralized perpetual market on BSC. Designed to optimize liquidity and attract traders to BSC, MCDEX acts as one of the largest DEXs on BSC.

"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," said Alex Odagiu, Investment Manager, BSC Accelerator Fund. "With this funding, we hope to see even more development and higher liquidity in perpetual markets" he added.

The fully permissionless protocol for decentralized perpetual swaps is capital-efficient with one of the highest market liquidity and 15x leverage. It is designed to prioritize censorship resistance, security, self-custody, and to function without any trusted intermediaries.

Jean Miao, Co-Founder of MCDEX, expressed, "We continue to prioritize delivering peak performance for perpetual 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."

Along with BSC, a few more leading venture capital firms have invested in MCDEX such as Alameda Research, Delphi Digital, Multicoin Capital, Fenbushi Capital, DeFiance Capital, Incuba Alpha, D1 Ventures, DeFi Alliance, NGC and more.

About MCDEX

MCDEX is the fully permissionless protocol for decentralized perpetual swaps that is capital-efficient with top market liquidity and up to 15x leverage. It is designed to prioritize censorship resistance, security, self-custody, and to function without any trusted intermediaries.

Key Features

  1. High Capital Efficiency. MCDEX AMM is highly capital efficient, thus providing lower slippage and costs for traders. Within the same liquidity in the pool, MCDEX AMM is over 1000x more efficient than traditional XYK AMM.
  2. Fully Permissionless. MCDEX protocol allows anyone to create any market, which dramatically increases market diversification.
  3. Composability. MCDEX protocol is an infrastructure protocol. Developers can build projects such as stablecoin and basis trading protocols on top of MCDEX.

 

SOURCE Binance Smart Chain


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News published on 21 october 2021 at 10:11 and distributed by: