MDEX Integrates Chainlink Price Feeds to Help Calculate Cross-Chain Decentralized Exchange Analytics
MDEX has integrated Chainlink Price Feeds on the HECO and Binance Smart Chain mainnets. By integrating the industry-leading decentralized oracle network, MDEX now has access to high-quality, tamper-proof price feeds needed to help secure the accuracy of platform analytics in DEX ecosystem. This will provide our users with stronger assurances that liquidity provider (LP) rewards and trading volumes on MDEX are calculated using tamper-proof and globally accurate market rates.
The initial integration involves the use of 16 Chainlink Price Feeds on HECO and 14 Chainlink Price Feeds on BSC. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
MDEX aims to integrate the advantages of multiple chains to create a high-performance compound DEX ecosystem. The dual mechanism of liquidity mining and transaction mining provides participants with maximum rewards, while transaction fees going towards the MDX repurchase and burn model enable MDEX to achieve a closed, self-driven ecosystem for value capture. MDEX strives to provide one-stop liquidity services for high-quality assets and bring users a safe, reliable, diversified, and cost-effective transaction experience.
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About MDEX
MDEX.COM supports the decentralized cross-chain transaction protocols of BSC, HECO and ETH, and ranks first in the DEX rankings by CoinMarketCap and CoinGecko. MDEX.COM innovatively combines the different advantages of various basic public chains, and creates a well-rounded and composite DEX ecosystem with high performance. The “dual mining” mechanism of liquidity mining and transaction mining brings greater returns to the participants, and the transaction fee “repurchase and burn” mechanism realizes a closed and self-driven loop for value capture. It runs on the HECO,ETH and Binance Smart Chain (BSC). Users can use MDEX Bridge to realize cross-chain interoperability between HECO, ETH and BSC.
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