As the concept of metaverse became popular around the world, Web3 also emerged as a trend. During this period, the applications and ecology of the Web3 industry are increasing rapidly.
According to data researcher Apptopia, the number of Web3 apps available for download in 2022 will grow almost five times faster than in 2021. Year-to-date, the number of apps available for download has grown by 88%.
Exchanges: currently the largest “traffic portal” for Web3 applications
Crypto exchanges were initially created to meet people’s investment needs for Bitcoin, and, as they continued to develop, they have spawned a variety of other functions such as trading between Tokens and NFT trading. There are two types of crypto asset exchanges: centralized exchanges and decentralized exchanges. In terms of trading volume, centralized exchanges are still the leaders of the market. The birth of centralized crypto exchanges (CEX), led by Coinbase, has contributed to the prosperity of the crypto market to a certain extent.
According to CoinMarketCap data, the top three positions in terms of trading volume are currently held by centralized trading platforms. However, the centralized organization will inevitably lead to platform “abuses” to a certain extent.
In March of 2021, Coinbase announced that it had blocked 25,000 Russian-linked wallet addresses after the Russia-Ukraine crisis escalated.
Back in 2020, the Daily Mail reported that Coinbase had frozen millions of customers’ accounts during the bitcoin bull market in late October 2020, leaving many users “powerless” as they watched bitcoin skyrocket. To date, Coinbase has not provided any explanation.
The above events are just a glimpse of the many drawbacks of centralized trading platforms. The core of the problem lies in the fact that in any centralized organization, the decision making power and ruling power will always be in the hands of a few people. Therefore, since the very beginning, platforms and users are in a power imbalance.
Decentralized exchanges (DEX), such as Uniswap, are trying to change this situation.
Instead of storing user funds and personal data on servers, Uniswap performs all operations through smart contracts on the blockchain, allowing traders to trade directly peer-to-peer on the platform without intermediaries.
Also on a decentralized exchange (DEX), the platform is only responsible for providing liquidity to the transaction and does not control the actual assets. Decentralized exchanges protect users’ personal information, and users are not required to provide any personal information such as social security numbers or addresses in order to trade.
However, the decentralized exchanges represented by Uniswap also have a lot of drawbacks. Slow trading speed, high transaction costs and poor user experience are three points that have been criticized by many users. In any case, the existence of Uniswap has broken the monopoly of centralized exchanges (CEX). Therefore, we need a secure, transparent and open WEB3 exchange.
Web3 exchanges reserve more imagination for the future of cryptocurrencies
MMEX (MMEX.CC) is the world’s first DEX and CEX compatible WEB3 exchange that implements trader-friendly closing strategies and focuses on providing safe, innovative and convenient contract trading services. MMEX was founded by the Singapore Vision Foundation and operates in compliance to local legislation, providing trusted crypto asset services to investors in over 100 countries in the Americas, Europe, the Middle East, Asia and beyond through its top-notch technology finance team.
Changes in the Internet come with technological advances and changes in the information production relationship, and the shortcomings of the previous generation often serve as the driving force behind the innovation of the next generation. As a trading platform, only when the product is user-friendly in terms of service and ecology, can it be more attractive and maintain users. Therefore, MMEX platform, in order to bring more quality services to users, will continue to innovate its financial products, better promote the development of the industry and its user experience.
- The highest capital utilization rate on the network, refusing to forcibly liquidate positions too early
Many digital currency trading platforms have the unwritten rule of “early liquidation”. In order to avoid the erosion of the user’s margin due to instantaneous and drastic fluctuations in the market, many platforms usually trigger the “early liquidation” when 10% to 30% of the user’s balance is still available. MMEX is the exchange with the lowest liquidation risk, the first one who dares to say no to “early liquidation” practices. By refusing to liquidate positions in advance, users can enjoy the highest capital utilization rate in the network!
The team created MMEX after 15,000+ hours of development. After comparing the rules of the main exchanges across the network, we continuously optimize the setting of the liquidation level to increase trading profitability, allowing customers to boost their capital utilization rate from 60% to 99% and significantly improve their trading profitability.
Example.
Position 30,000USDT, MMEX maintenance margin rate of 0.25%, maintenance margin of only 75USDT, margin = account margin — maintenance margin = 225U, open position price = opening price — margin = 29775U!
Note: The above data refers to a long position worth 1BTC (opening price of 30,000), it does not include the handling fee, according to each platform maintenance.
Margin rate calculation: different platform liquidation price comparison, MMEX has the lowest liquidation level in the whole network.
2）Supports email and wallet login
One of the most criticized disadvantages of Web2.0 is the “one application, one account” model, which is not interoperable between different platforms. At the same time, these digital accounts do not have power, nor do they have any responsibility and obligations. As a centralized operator, the platform can easily collect and retrieve information data and sell them to advertisers as a package, which is where the so-called “big data fraud” comes from.
MMEX uses a dual account system of Email / wallet, with a DEX and CEX compatible WEB3 interaction. Users can sign in with one click by binding their wallets without registration, or they can choose to sign in by email.
- Support one-click reverse position
Long-short position reversal, one key to turn losses into profits. This feature will allow users to quickly close their current positions at the best price in the market when the market reverses, and open positions with the same leverage, the same contract and the same quantity at the same time, by switching between long and short positions.
4）Multiple position management
Open multiple orders at the same time and see them on one single display one by one. Position management clear and unambiguous.
5）Affiliates can get an exclusive customized Bored Ape avatar
Bored Ape is the top IP in the NFT world. MMEX develops exclusive 1:1 Bored Ape avatars integrated with PC single camera motion capture + face capture technologies, so that brokers can use their Bored Ape avatar with their own LOGO to carry out AMA meetings, live video streaming, promotional designs and other applications. Expand in the market twice as fast with half the effort and always be one step ahead of the competition!
In addition to the above, MMEX also has fine services such as price anomaly protection, 3S-level security system, lightning speed brokerage engine, multi-plan commissions, stop loss and take profit functionalities, expected earnings calculation, 7*24h customer service, fast withdrawals, and distributed computing.
MMEX is the exchange with the lowest liquidation risk. The next step will be to secure the transactions on the blockchain and launch innovative features such as a liquidation insurance fund, collateralized contracts, collocation transactions, etc. In the future, MMEX aims to become a global innovation laboratory for crypto trading, providing users from all countries with continuous, safe and innovative integrated financial services.