DeFi Golden Shovel: MDEX Full Review

Sponsored • March 7, 2021

In recent years, the immense growth of Decentralized Finance (DeFi) has seen the launch of several projects, even inspiring the creation of an entire chain. Huobi, a leading Chinese crypto exchange, launched its native chain, i.e., Huobi Eco Chain (HECO). Heco is a decentralized and faster, cost-efficient, and developer-friendly public chain that Ethereum developers can easily build and deploy Dapps. The chain essentially functions like Ethereum, and the smart contracts are seamlessly compatible. HECO uses Huobi Token as gas fees and is faster and cost-efficient compared to Ethereum, which has of late experienced rising gas fees due to scalability issues and rising demand. 



The efficiency and sustainability of HECO has seen the immense growth of platforms built upon it. Heco’s TPS can reach up to 500, and the transaction confirmation time is about 3 seconds. The GAS fee is about $0.001 in HT. As such, it provides a new choice for DeFi developers who are frustrated by the gas issues on the Ethereum blockchain. 


MDEX, the leading platform in the Heco Chain ecosystem, has caused ripples in the decentralized exchange (DEX) sector. Less than two months into its existence, the platform’s total liquidity pool (LP) pledge amount exceeded USD 2 billion, and the 24-hour transaction volume exceeded USD 5.05 billion surpassing SushiSwap and UniSwap. Currently, the TVL (Total Value Locked) on MDEX stands at $2.09 billion. Here's an in-depth review of the platform termed as the "DeFi Golden Shovel." 

What is MDEX? 

MDEX is an automatic market-making (AMM) DEX based on the concept of fund pools. MDEX implements a mix-chain DEX model based on the Heco Chain and Ethereum. This allows it to combine the benefits of the sustainable and low transaction fees of the Heco chain and the opulence of the Ethereum ecosystem into a single platform. 


MEDX implements a "dual mining" model of transactions and liquidity. In addition to liquidity mining synonymous with most DEX, MDEX introduces transaction mining, meaning that users also receive MDX rewards for transactions. . In essence, the "dual-mining" mechanism means that MDEX supports both Swap liquidity mining (AMM) and transaction mining, allowing users to receive MDX rewards for governance tokens. 


The platform also includes pledged MDEX support as a contributor to liquidity market making. Currently, MDEX supports transaction mining involving 12 trading pairs, i.e., HUSD-WHT, ETH-USDT, and HBTC-USDT. 

Another unique feature on MDEX not found in other swaps is the “repurchase and burn” mechanism plus “repurchase rewards." The platform has deployed a repurchase and destruction mechanism to create a deflationary effect for MDX. The primary purpose of the “Repurchase Rewards” is to use HT to encourage users to provide liquidity for MDX. The rewards are instrumental in enabling users happy to pledge MDX. Currently, the liquidity pool for MDX is only MDX-USDT. 


MDEX seeks to build an innovative DeFi platform that integrates DEX, IMO/ICO, and DAO on Heco and ETH, providing users with a safer and more reliable asset selection and configuration plus a higher ROI on decentralized token exchange service. 

Outstanding Features on MDEX 

Liquidity and Transaction Mining 

As noted earlier, MDEX supports the “dual mining mechanism” of DEX-based AMM liquidity and transaction mining. Built on the Huobi Eco-Chain and Ethereum, the platform implements both transaction mining and LP (liquidity pool) mining.   


In liquidity mining, also popularly yield farming, MDX tokens are generated for the users who provide liquidity to the pool. In transaction mining, users can harvest MDX by trading the specified pairs, and 0.3% transaction fees will be charged for transaction mining. Of the 66% transaction fees charged, 30% will be used to repurchase and destroy MDX. The rest of the 70% is used to purchase HT from the secondary market to reward MDX/USDT, MDX/WHT, and MDX stakers. All transactions are publicized on the chain. This combination of "dual mining mechanism" of transaction mining and liquidity mining completes an ecological "closed-loop" designed to support liquidity on an AMM-based DEX. 

Repurchase and Burn + Repurchase and Reward 

To enhance the MDX token's financial value, MDEX implements a "repurchase and burn" and "repurchase and reward" mechanism. After MDEX mining is started, 66% of the daily transaction fees income is split into two parts, 30% of which is used to repurchase MDX and burn the remaining 70% will be used to buy HT (Huobi Token) from the secondary market to reward MDX/USDT LP, MDX/HT LP liquidity providers (stakers). Stakers can collect rewards in the boardroom reward pool every day.   


Currently, over 2.72 million MDX has been repurchased with a real-time deflation rate of 5.2%. MDEX estimates that nearly US$750,000 will be used for the repurchase and destruction of MDX every day. Correspondingly, approximately US$1.75 million will be used to purchase HT to reward liquidity providers.

The mechanism of “Repurchase & Destroy" and "Repurchase Reward" is essential to reduce the circulation of MDX on the market, creating scarcity and enhancing its value. Therefore, it allows the token to enjoy a competitive price on the secondary market. 

MDX Tokenomics 

Basic Information 

  • Name: MDX (MDEX Token)
  • Total amount: About 1 billion
  • Block time: Every 3 seconds (based on HECO)
  • Block Rewards: 80MDX per block
  • Halve time: halve every six months.

MDX Token Supply 

  • 80% - Heco liquidity and transaction mining on Heco 
  • 10%- Team Rewards for operation and development etc. It will be unlocked in 24 months after being launched by smart contracts 
  • 7%-Used as early investors’ share to provide more sufficient funds and resources 
  • 3%-Used for market promotion and brand building. Both unlocked in twelve months after going online. 


The mining reward for each block on Heco is 80 MDX, where liquidity mining accounts for 50%, transaction mining accounts for 50%. The rewards are halved every six months.

MDEX Transaction Fees 

MDEX charges a transaction fee of 0.3%. 66% of the total transaction fee income is used to repurchase and burn MDX and buy HT and rewards to users.

Advantages of MDEX over other DEX Platforms

MDEX has dethroned Uniswap and SushiSwap to be the leading DEX in the market.l This didn't come as a surprise considering the immense benefits offered by the platform. Some of MDEX's benefits over other platforms include: 

Very Low Transaction Fees 

Compared to other DEX, notably Uniswap, MDEX offers very low transaction fees. The current gas crisis on the Ethereum blockchain has seen transaction costs increase to unimaginable heights on Uniswap, SushiSwap, and other DEX based on Ethereum. 

MDEX transaction fee is almost zero, i.e., 0.1 cents. This is because of transaction mining fee subsidies for users who have exceeded USD 100 million. 

Transaction Speed 

MDEX is built on the Heco Chain, which can reach up to 500TPS with a transaction confirmation time of about 3 seconds. Therefore, MDEX confirmation times are less than 3 seconds compared to Uniswap, which takes up to 1 minute to complete a transaction attributed to congestion on the Ethereum Mainnet. 

Ability to Switch Pools 

MDEX supports seamless switching of pools which could be costly on other DEX based on Ethereum due to high gas fees. Besides, the rates of returns of liquidity mining on MDEX are stable and a bit high. 

How is MDEX Supporting the Growth of the Huobi Eco Chain? 

MDEX is the leading Dapp on the Heco Chain and has been instrumental in creating awareness of the chain. Following the immense success of MDEX, it has become an instrumental part of the Huobi ecological chain. In essence, MDEX has been vital in enabling the Heco chain to enter the hugely competitive crypto market. Besides, real transaction demand on MDEX and its high APY has supported the Heco Chain ecosystem's growth, enabling it to find increased use cases.

MDEX Future Plans 

MDEX is currently exploring ways of promoting the DEX and attracting more users by enhancing the trading experience. With time, the platform looks to list more multi-chain assets, multiply encrypted asset products, develop more user-friendly models, strengthen community governance and consolidate community consensus. 

 In the long run, the project aims to become the hub of decentralized asset exchange. The project is open to deploying multiple chains to link multi-chain assets to achieve a better DEX experience and bring more sustainable development to mainstream public chains. 

Closing Words 

It's no surprise that MDEX has achieved immense success in the DEX sector in such a short time. The platform's features, notably dual mining and Repurchase and Burn + Repurchase and Reward, make it stand out among other DEX platforms and offer real benefits to its users. Better yet, the platform is built on the Huobi Eco Chain (Heco)-a fast, cost-efficient, and developer-friendly public chain. MDEX has laid an excellent foundation for the accelerated ecological construction of DeFi platforms on the Huobi ecological chain. MDEX will indeed live up to its goal of building the biggest DeFi platform that integrates DEX, DAO, and IMO on both the Ethereum and HECO chains. Stay tuned for more updates on the project.   

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

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By press release • June 12, 2025
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By Press Release • June 11, 2025
In a crypto landscape still reeling from waves of rugpulls, a new initiative, Balz Back, today announced the official opening of its platform for community submissions. Balz Back is designed to turn rugged bags into new liquidity, offering a potential lifeline to countless affected investors.  Built around the DeFAI Redemption Protocol , BalzBack evaluates communities through onchain behavior and sentiment signals, generating a Community RugScore™ . Once approved, token holders access a Telegram-native app where they can verify wallets, deposit rugged tokens, and receive structured allocations of $BALZ tied to their score and deposit tier. Submissions are now open to leaders, developers, and moderators from impacted communities. Recent examples of affected projects include: $LIBRA – Promoted by Argentine President Javier Milei , with wallet activity linked to Hayden Davis of Kelsier Ventures. Over $250 million lost. $MELANIA – Endorsed by Melania Trump and allegedly connected to Davis, with insiders profiting over $150 million through private allocations and pre-announcement trades. $HAWK Tuah – Backed by influencer Hailey Welch , collapsed following insider-controlled dumping. $WOLF – Deployed through wallets associated with Hayden Davis, collapsed by over 99% within two days, with 82% of supply under one entity. $CUBA , Al16Z , SPEED (linked to Logan Paul ), and $JAILSTOOL (promoted by Dave Portnoy )—each followed a similar extraction pattern. Additional tokens like $ZBEC, $DANTRUMP, RugMask, Pompompurin Coin , and $GANTU have also shown post-launch behavior consistent with insider or predatory flows. BalzBack provides communities with a verified redemption channel , backed by a transparent scoring system and application logic. Once a community is approved, individual members can reclaim value through direct participation in the redemption process. "We’ve created a way to convert rugged bags into fresh liquidity, grounded in verifiable data and built for real users who got left behind," said a spokesperson for the $BALZ team. "We are actively onboarding and reviewing submissions." To apply, visit: https://www.muskybalzac.com/balzback

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By press release • June 6, 2025
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