MDEX, a well-known DEX in both the HECO and BSC chains, announced its collaboration with Alpaca Finance, the largest credit protocol that has recently enabled leveraged yield farming on Binance Smart Chain by using Alpaca Finance’s liquidity pools can benefit with massive rewards on MDEX. The first rounds of pool integration will take place on September 30th, October 5th and October 7th, respectively.
This is a win-win cooperation for MDEX and Alpaca Finance. MDEX is the second largest decentralized trading app in terms of TVL with total assets of $ 2.3 billion as of September 24, 2021, and occupied the first in a long time a few months ago. Alpaca Finance is the largest loan protocol attracting total assets of $ 1.41 billion as of September 24, 2021. MDEX and Alpaca Finance are two stars that have significant market shares in their respective sectors in the defi space, where DEX and Leveraged Yield Farming Protocol can naturally be combined. Alpaca Finance will create more liquidity incentives for the users while increasing the TVL on MDEX to lead to better liquidity performance as multiple pools are integrated with leverage and the asset exchange involved in multiple pools becomes smoother and cheaper for traders.
The announcement published by Alpaca Finance revealed the reasons for this collaboration, which is that MDEX is the second largest DEX in terms of TVL and daily trading volume of hundreds of millions of dollars per day, and the APR on MDEX is higher in most cases is the pools that Alpaca Finance had added. As MDEX focuses on stablecoin asset pools, Alpaca Finance’s collaboration with MDEX will bring users higher annualized returns (APR). In particular, this integration will use the AUM from Alpaca Finance in all secure pools on MDEX and create larger buybacks, burns and performance fees for ALPACA owners!
The existence of rich trading pairs is one of the reasons MDEX has long been at the forefront of the DEX sector. As Alpaca Finance mentions, MDEX pays more attention to stable cryptocurrencies. There are 19 USDT pairs in MDEX’s Liquidity Farming Pool list, including 12 top mainstream assets including BTC (B), ETH, ADA, etc. In addition, BUSD-related pairs are rich enough around the too Support exchanges between stable mainstream currencies like USDT, BUSD, USDC, DAI, etc.
As mentioned above, the trading volume on the MDEX with the help of the trading mining mechanism, where transaction fees for traders can be negligible, has long been one of the frontrunners in the DEX sector.
In the tough competitive environment with new products popping up and disappearing quickly, MDEX is keeping an eye on its original intent as DEX to mitigate temporary losses for liquidity providers, maintain low slippage and transaction fees for traders, and gradually move towards a decentralized autonomous organization (DAO) to become the community to make platform work more transparent and efficient.
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