MetaDEX Project Update

With the rebrand from Mirqur to MetaDEX the platform picked up their marketing efforts and is now active around social media. They are also working on some partnerships which they will be able to share with the community in the coming weeks and months. They will be involving their delegators and broader community even more in the time going forwards.

MetaDEX Tech

Tech is progressing well and MetaDEX now have multiple teams working on different parts of the project. The blockchain team which is working on the creation of the smart contract has recently reached a crossroad in development and are currently debating between relying more heavily on the Cardano’s Serialization Library to sign transactions and build them entirely in the user’s browser, but this will require more time as it requires rewriting the of chain code which is currently written in Haskell into a browser-friendly language like JavaScript.

Another option is to go for a self-hosted PAB which will allow MetaDEX to host a server which runs the off-chain Plutus code and send back the built transaction to the users’ web browser for them to sign. The latter solution has the advantage of not requiring us to rewrite our Plutus off-chain code but adds complexity in maintaining and setting up such a server because if the PAB server was to go down it would compromise the usability of the entire DEX. In terms of the web app, we’re progressing in building out the required code for interacting with the smart contracts.

Stake Pool Update

As part of MetaDEX rebranding, they have changed the name of its pool ticker from MRQR to METAX. This also makes sure there aren’t any scam pools that can pop up, as 5 letters are the max for pool tickers. The new name was voted on by its delegators. To increase the funding for MetaDEX they also asked delegators if they would be happy to facilitate an increase in fees and delegators by large voted to increase the pool fee from 1% to 5%.

ABOUT MetaDEX
MetaDEX is a decentralized exchange on the Cardano blockchain. Aiming at high social standards & continuous innovation, MetaDEX combines a diverse range of previously mutually exclusive features from other DEXes, such as impermanent loss insurance, smart tokens, and portfolio & range pools.

RESOURCES
Medium