On September 13th, Mdex launched the IMO for Demeter tokens and attracted over $ 350 million stake.
Currently, many projects on DApps are choosing to issue their initial tokens and build liquidity in a decentralized way as this is more in line with the characteristics of the blockchain space. As a result, many blockchain entrepreneurs are looking for a launchpad that excels at issuing tokens and offers sufficient liquidity. This refines the competition for IDO functions: Competitiveness and data play the decisive factors.
Staking to Earn New Tokens: Innovative IMO Mechanism
IMO (Initial Mdex Offering) is a first decentralized online exchange mechanism based on MDEX. The mechanism provides sufficient liquidity for projects while allowing users to participate more fairly.
With the introduction of IMO under a new mechanism, MDEX not only finds more quality resources for users, but also strengthens MDX. The first project as part of the innovative IMO mechanism is Demeter, a market protocol for decentralized cryptocurrencies. DMT, Demeter’s governance token, is also issued via IMO with a liquidity pool created on Mdex.
The final IMO round on September 13th drew 6,500 attendees and raised a total of $ 350 million in funds, in line with the results of Coinwind’s IPO in May. The highlight of this public offering is the “use it to earn new tokens” rule in the new IMO mechanism, in which a total of over 1 billion MDXs participate.
The new mechanism allows users to join IMO with either MDX or xMDX, the boardroom lock-in voucher. This rule releases the liquidity of the MDXes blocked on the board and offers all MDX holders a fair opportunity to participate in the IMO. The lock-in voucher xMDX can receive different token shares in the IMO depending on the term. The token shares increase with the duration of the lock-in, ie the longer the lock-in period, the more tokens are to be received for participation in the IMO.
What is even more exciting for MDX holders is that they can get new tokens simply by deploying MDX without losing their MDX or lock-in voucher xMDX positions.
As part of the new IMO mechanism, participants can convert their lock-in winnings into platform tokens, making MDX a “gold shovel” for users. By exchanging the profits from lock-in earnings with new tokens, the platform introduces the compound interest method of the investment, allowing users to gain new opportunities without loss on their accounts.
Millions of active users: Mdex is “the first choice to start projects”
IDO is a primary market that has always generated impressive returns. However, with the support of Mdex, it is even more valuable for investors to focus on IMO.
On May 25, Mdex held its first IMO, where the Coinwind project attracted a stake of $ 380 million and ended up on a surprising number of 257 times than expected. In the meantime, 8,874 addresses have taken part in the IMO, with an exchange exceeding expectations by more than 25,726% and a symbolic price increase of 500% making this one of the most attractive projects. Such heat and power made it impossible to believe that right after the market crash on Nov.
After the launch of Mdex, it quickly gained a large number of users, garnered super high levels of liquidity, and became the headline DEX as well as the ideal IDO platform. The completion of the token issuance on Mdex not only secures a large number of active users of the platform, but is also an excellent advertisement for the project itself in terms of promoting its product and building its community.
User-friendly and community-oriented: Mdex as the cradle for high-quality assets
For entrepreneurs, Mdex is “the first choice for starting a project”; in the eyes of investors, Mdex has an additional property of “origin of several tokens”. Based on this expectation, Mdex made the best professional judgment when selecting the project.
As the first project that was started as part of the new IMO mechanism, Demeter is a protocol for decentralized lending and stablecoins based on Heco. It is now expected to become MakerDao on HECO.
Demeter has introduced over-insurance for lending. The innovation is that the user’s credit limit is generated according to their asset factor, which is based on their secured assets. The amount that users can borrow and mint stablecoins is limited by the credit limit to ensure the safety of the user’s property and the entire system.
In contrast to traditional decentralized loan protocols, Demeter has optimized the interest rate model and the collateral coefficient of its DeFi loan protocol. Demeter assets are more diversified with the introduction of richer crypto asset types such as LP assets, collateral assets, NFT-Fi assets, etc. This optimization breaks the constraints of decentralized collateral lending. Since credit ratings were carried out with these assets, the credit model is very well matched between the currencies, while the interest rate adjustment algorithm makes more sense under the premise of guaranteeing security.
With the more diverse and secure DUSD credit service, the Stablecoins from Demeter perform the same function. Since DUSD is generated through multi-asset collateral, it is much less risky and more stable than tokens that are generated based on single-asset collateral.
Demeter has demonstrated its foresight and practicality by breaking the DeFi loan collateral ceiling in innovative ways and withstanding the price volatility of decentralized stablecoins and liquidation.
The new IMO mechanism offers all MDX holders fair opportunities. The recently released Hunter program, which provides a total of $ 10 million to support quality projects, will further increase Mdex’s competitiveness and attractiveness with respect to IMOs. This will help build a new business ecology that covers more application scenarios and is deployed in more chains to provide more convenient, more powerful, less expensive and undifferentiated financial services to global users.