MarginX, The World’s First Community-Based Decentralized Exchange, Launches On Function X Blockchain – TBEN

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Grand Cayman, Cayman Islands, November 8, 2022, Chainwire

MarginX, the world’s first community-based decentralized exchange (DEX), launches today on the Function X blockchain. It runs on a unique multi-chain and on-chain infrastructure that allows investors to trade with near zero gas fees, ultra-high throughput and liquidity, and full ownership and transparency.

During the beta test in August this year, the DEX amassed a total transaction volume of more than USD 45 billion. Currently, with a small pool of invited users, the number of transactions on MarginX continues to rise steadily above 48 million, with the most updated figures found on the Function X StarScan (https://starscan.io/).

“Today marks a milestone for not only MarginX, but the DeFi ecosystem as we advance the idea of ​​true decentralization and uphold the values ​​of community and property through our unique DEX infrastructure,” said Dr. Danny Lim, core contributor to MarginX. “We are excited to build on the Function X blockchain as it provides us with the multi-chain architecture and EVM compatibility that defines the right DeFi environment for MarginX and its future DeFi protocols.”

MarginX: a truly decentralized DEX for the community

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As the world’s first community-based DEX, MarginX is committed to being a contributor-driven, fully decentralized blockchain infrastructure. To elaborate further, the DEX can be defined by the following key attributes:

  1. Super low transaction costs
    MarginX runs on a multi-chain, cross-chain and para-chain infrastructure that allows the platform to handle throughput of 2,000-20,000 transactions per block, while reducing congestion in the blockchain – keeping gas costs as low as 0.003 USDT and transaction costs as low as 0.04%.
  2. Users manage their assets
    Funds are traded through non-custodial wallets and all transactions are done on-chain so they are safe, verifiable and transparent. Currently, MarginX supports f(x)Wallet and is designed to support all decentralized wallets (i.e. MetaMask, Trust Wallet) via WalletConnect in the near future.
  3. Full visibility and access
    All transactions run on-chain and are recorded on the blockchain. These include not only order matching, creation and cancellation, but also settlement of funding rates, liquidation and governance. Anyone can track and examine these records, creating a fair system of checks and balances.
  4. Connecting TraFi and DeFi
    MarginX lays the foundation on which other DeFi products can be built, including equity-based derivatives or traditional financial assets. DEX allows anyone to design and build their own DeFi products on the blockchain and provides tools that bridge the old and new traders of the financial world.
  5. By the community, for the community
    At MarginX, every stakeholder, be it a developer, community manager, or merchant, has a say through their governance framework. The MarginX utility NFT system also determines each user’s voting rights, trade discounts and referral fees, which builds a sense of community and provides users with an additional and perpetual source of income.
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In addition, in a never-before-seen DEX style, MarginX offers a paper trading platform (https://demo.marginx.io) which runs parallel to its live trading platform. This is to enable new users to learn easily using test tokens so that they can trade with confidence in the real world.

“Our goal is to help people see MarginX as more than just a DEX — it’s a complete infrastructure on which DeFi protocols can be built,” said Dr. Shin Liang Chin, Core Contributor of MarginX. “The sky is the limit when it comes to future partnerships and developments, and we are excited to be at the helm of such direction for the industry. We hope to make finance more accessible, transparent and secure for everyone through the use of blockchain technologies.”

Currently, MarginX facilitates trading of cryptocurrency-based perpetual contracts for BTC, ETH, and FX. In line with the values ​​of community and property, MarginX will not involve an ICO, IEO, token sale or NFT saleto level the playing field for everyone.

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For more information, please refer to our media kit (https://bit.ly/mxmedia) or our website (https://marginx.io).

About MarginX

MarginX is the world’s first community-based decentralized exchange built on the Function X network and running over a multi-chain 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 derivatives of any financial asset, and where every stakeholder has a say in the future of the platform.

Contact

Marketing and Communications Leader, Dione Chen, MarginX, [email protected]