MCDEX (Monte Carlo DEX) - a decentralized derivative’s exchange, that allows traders to trade efficiently and reliably. Moreover, you can make big profits by working on short and long orders. After a month of testing the alpha version of the site, a beta version of MCDEX is now available for everyone. The full site version will be ready two weeks after the completion of all tests.
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MCDEX technology
MCDEX is based on the Mai Protocol, which supports the trading of Market Protocol Contracts. Usually, you can obtain the benefits through a loan, but MCDEX provides the opportunity to use the currency at the lowest price. The resource doesn’t have its own token, since the site users trade in the well-known currencies. Due to the lack of WhitePaper project, you can get acquainted with the resource principles on the official website. Also, users can view Twitter and Telegram social networks for awareness.
For each client, the currency value has the next determination:
- Currency of the long order = entry price - minimum price.
- Currency of the short order currency = marginal price - entry price.
For example, if you expect the price of Bitcoin to rise, you buy 1 BTC in the long order ($1,000), and expect when the price of Bitcoin is $8,000. The maximum and minimum costs - $10,000 and $7,000, respectively. If the bitcoin price rises to $9,000, the price of the long order will increase to $2,000. Thus, you earn 100% instead of 12,5%. Given the possible client’s earnings, a referral program on such a resource is not mandatory.
How do traders make money in dapp?
The Mai protocol includes the exchange and buyout of currency positions. In this regard, there are only two possible actions: buying and selling, to confirm the Market Protocol contract. If the trader expects a price increase, he can enter the long order by buying an asset. If a trader expects a price drop, he can enter the short order through the sell function. In addition, traders with long orders can reduce or close them by selling. And traders with short orders can reduce or close them by buying.
How it works on the blockchain platform
To get started, the trader only needs to place an order and the Mai Protocol will calculate the currency price, depending on the position, and the order price. The aim of design and site layout - making it intuitive to you how to use the site.
Benefits of the MCDEX
| Guaranteed deposits in the system aren’t required | In addition, the contract under the market protocol is repaid only after the expiration date. Moreover, before the expiration date, the order won’t be executed. |
| No loan rate | Other platforms earn on interest rates; the benefit comes from derivatives without rates here. |
| Lack of KYC data | Thanks to the presence of the smart contract, this structure avoids the KYC requirements. You can track the user only at the wallet address. |
The most important advantage - your balance is completely stored in the smart contract account. In a decentralized space, all collateral is in the smart contract and can’t be used by anyone.
MCDEX - a safe solution for traders. Lack of guaranteed deposit and early resolution. Guaranteed deposits, which are complex and quite dangerous, are deleted in the MCDEX trading system, fixing the maximum and minimum prices. This price is fixed by each market protocol.