In January 2021, MDEX, a new decentralized trading system, was launched.
MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with traditional DEXs but distinguishing itself from competitors by employing a dual-chain model based on both the Ethereum network and the Huobi Ecological Chain (HECO), allowing it access to the Ethereum ecosystem's liquidity.
The great majority of DeFi projects are ERC-20 assets on the Ethereum network, however it is experiencing issues with high gas prices and sluggish transaction times as it transitions to Ethereum 2.0.
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