MarginX, the world’s first community-based decentralized exchange, launches on the Function X Blockchain
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MarginX, the world’s first community-based decentralized exchange (DEX), launches on the Function X blockchain today. It runs on a first-of-its-kind multi-chain and off-chain infrastructure that allows investors to trade with near-zero gas fees, ultra-high throughput and liquidity, and full ownership and transparency.
A truly decentralized DEX for the community
During the beta test in August this year, the DEX accumulated a total transaction volume of more than 45 billion USDT. Currently, with a small group of invited users, the number of transactions on MarginX continues to steadily climb over 48 million, with the most up-to-date figures found on Function X StarScan.
Dr. Danny Lim, core contributor of MarginX, said:
“Today marks a milestone for not only MarginX, but for the DeFi ecosystem, as we push forward the notion of true decentralization, upholding the values of community and ownership through our unique DEX infrastructure. We are excited to build on Function X blockchain, as it gives us the multi-chain architecture and EVM compatibility that sets the right DeFi environment for MarginX and its future DeFi protocols.”
As the world’s first community-based DEX, MarginX is committed to being a contributor-driven, fully decentralized blockchain infrastructure.
MarginX runs on a multi-chain, cross-chain and para-chain infrastructure that allows the platform to handle a throughput of 2,000-20,000 transactions per block, while reducing congestion in the blockchain – thus maintaining gas fees as low as 0.003 USDT per transaction. fees as low as 0.04%.
Funds are traded through non-custodial 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 (ie MetaMask, Trust Wallet) through WalletConnect in the near future. All transactions are executed on-chain and recorded on the blockchain. Anyone can track and scrutinize these records, forming a fair system of checks and balances.
MarginX allows anyone to design and build their own DeFi products on the blockchain, providing tools that bridge the gap between old and new traders in the financial world. In addition, all stakeholders have a say through their governance framework. The MarginX tool NFT system also determines each user’s voting rights, trading discounts and referral fees.
Dr. Shin Liang Chin, core contributor of MarginX, added:
“Our goal is to get people to think of MarginX as more than just a DEX – it’s an entire infrastructure on which DeFi protocols can be built. The sky’s the limit in terms of future partnerships and developments, and we’re excited to stand at the forefront of such a direction for the industry. We hope to make finance more accessible, more transparent and safer for everyone through the use of blockchain technologies.”
Currently, MarginX facilitates the trading of cryptocurrency based perpetual contracts for BTC, ETH and FX. In accordance with the values of community and ownership, MarginX will not involve any ICO, IEO, token sale or NFT sale, in order to level the playing field for everyone.
MarginX is the world’s first community-based decentralized exchange built on the Function X network, and runs via a multi-chain and on-chain infrastructure. It aims to bridge the gap between the traditional financial markets and the cryptocurrency world by providing a platform where investors can buy, sell and create derivative products of any financial asset, and where all stakeholders have a say in the future of the platform.
