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Grand Cayman, Cayman Islands, Date, Chainwire<\/p>\n
MarginX<\/a>, the world\u2019s first community-based decentralized exchange (DEX), launches on the Function X blockchain today. It runs on a first-of-its-kind multichain and on-chain infrastructure that allows investors to trade with close to zero gas fees, ultra-high throughput and liquidity, and full ownership and transparency.<\/p>\n During its beta test in August this year, the DEX accumulated a total transaction volume of more than 45 billion Tether (USDT<\/a>). Currently, with a small group of invited users, the number of transactions on MarginX continues to climb steadily, passing 48 million, with the most updated numbers found on the Function X StarScan<\/a>.<\/p>\n \u201cToday marks a milestone for not just MarginX but the DeFi ecosystem, as we push forth the notion of true decentralization and uphold the values of community and ownership through our unique DEX infrastructure,\u201d said Danny Lim, a core contributor of MarginX. \u201cWe are thrilled to be building on the Function X blockchain, as it provides us with the multichain architecture and Ethereum Virtual Machine compatibility that sets the right DeFi environment for MarginX and its future DeFi protocols.\u201d<\/p>\n As the world\u2019s first community-based DEX, MarginX is committed to being a contributor-driven, fully decentralized blockchain infrastructure. To further elaborate, the DEX can be defined by the following key features:<\/p>\n In addition, in never-before-seen DEX style, MarginX offers a paper trading platform<\/a> that runs parallel to its live trading platform. This is to allow new users to learn with ease using test tokens in order to trade confidently in the real world.<\/p>\n \u201cOur goal is to have people think about MarginX as more than just a DEX \u2014 it is an entire infrastructure on which DeFi protocols can be built,\u201d said Shin Liang Chin, a core contributor of MarginX. \u201cThe sky is the limit when it comes to future partnerships and developments, and we are excited to be at the helm of such a direction for the industry. We hope to make finance more accessible, more transparent and more secure for everyone through the use of blockchain technologies.\u201d<\/p>\n Currently, MarginX facilitates the trading of cryptocurrency-based perpetual contracts for Bitcoin (BTC<\/a>), Ether (ETH<\/a>) and Function X (FX). In keeping consistent with the values of community and ownership, MarginX will not involve any initial coin offering, initial exchange offering, token sale or NFT sale so as to level the playing field for all.<\/p>\n For more information, please refer to our media kit<\/a> or our website<\/a>.<\/p>\n MarginX is the world\u2019s first community-based decentralized exchange built on the Function X network and run via a multichain and on-chain infrastructure. It aims to bridge the traditional financial markets and cryptocurrency world by providing a platform where investors can buy, sell and create derivative products of any financial asset, and where every stakeholder has a say in the future of the platform.<\/p>\n Marketing & Communications Lead<\/p>\n Dione Chen<\/p>\n MarginX<\/p>\nMarginX: A truly decentralized DEX for the community<\/h2>\n
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MarginX runs on a multichain, cross-chain and parachain infrastructure that allows the platform to handle a throughput of 2,000\u201320,000 transactions per block while reducing congestion on the blockchain \u2014 thereby maintaining gas fees as low as 0.003 USDT and transaction fees as low as 0.04%.<\/li>\n
Funds are traded through noncustodial wallets, and all transactions take place on-chain so that they are secure, verifiable and transparent. Currently, MarginX supports f(x)Wallet and is designed to support all decentralized wallets \u2014 i.e., MetaMask, Trust Wallet \u2014 through WalletConnect in the near future.<\/li>\n
All transactions run on-chain and are recorded on the blockchain. These include not just order matching, creation and cancellation but also funding rate settlement, liquidation and governance. Anybody can track and scrutinize these records, forming a fair system of checks and balances.<\/li>\n
MarginX lays the foundation for where other DeFi products can be built upon, including stock-based derivatives or traditional financial assets. The DEX allows anyone to design and build their own DeFi products on the blockchain and offers tools that bridge the old and new traders of the financial world.<\/li>\n
At MarginX, every stakeholder, whether a developer, community manager or trader, has a say through its governance framework. The MarginX utility nonfungible token (NFT) system also determines each user\u2019s voting rights, trading rebates and referral fees, which builds a sense of community and offers users an additional and perpetual source of yield.<\/li>\n<\/ol>\nAbout MarginX<\/h2>\n
Contact<\/h2>\n