MyTrade — a next generation of DEX that looks and feels like a centralized exchange with a wide range of quality tradable assets. Takers will get the best price and Makers will get a 0% trading fee.
Description of the MyTrade site
Trade directly from your crypto wallet. MyTrade does not hold your funds when you trade: you own your assets in full. Unlike other decentralized exchanges (DEXs) like Uniswap or Sushiswap, MyTrade is not just a swap. It has a professional user interface and features, similar to those of leading centralized exchanges such as Binance. My Trade users can enjoy price charts and limit orders.
MyTrade has both an order book and AMM. My Trade has introduced a new term, called "Integrated liquidity", which is the cumulative total liquidity from both the AMM liquidity pool and the order book. My Trade's unique algorithm has accurately combined these two sources of liquidity and can provide traders with the best execution price. The MyTrade token (MYT) will be created in ETH, and some of the tokens will be transferred to level 2 (Polygon). MYT will also be connected to other popular EVM-enabled networks such as Moonbeam and BSC.
How to mine MYT:
| Mining trading | Takers can earn MYT for successfully completing trades on selected pairs. |
| Liquidity mining | Liquidity providers can add liquidity to selected AMM pools to earn MYT. |
| Mining limit orders | Market makers can earn MYT by placing orders in the order book within the allowable spread for the selected pairs. |
MyTrade V2 introduces a new concept for limit order mining. This feature has appeared to incentivize makers with platform tokens (MYT) to increase trading depth at the current market price. Professional market makers can use this feature to repeatedly place limit orders near the current market price, once their orders are accepted they can immediately hedge against other AMM pools on the same chain. The continuous repetition of this process leads to a sharp increase in the efficiency of the use of capital.
Features of a decentralized exchange
MyTrade V2 on Polygon will route trades to Quickswap if there is no AMM liquidity on My Trade V2. Traders can get professional trading insight with MyTrade V2 price charts while enjoying the depth of Quickswap trading. Once AMM liquidity is added to MyTrade V2, traders will be able to activate the limit order feature and order book. My Trade V2 on Moonbeam will only have its own AMMs and order books for each trading pair.
You will be able to invite your friends to join MyTrade and earn extra rewards. Referral contests will be held every month with a leaderboard, based on the volume of invited trades. Initially, rewards will be paid out in USDT/USDC.