MCDEX (MCB) Goes Live on Arbitrum
Decentralized derivatives exchange MCDEX is now live on Arbitrum Rollup, the Ethereum layer-2 scaling solution, and will go public after testing for a couple of weeks. MCDEX is the first fully permissionless decentralised perpetual swap which is live on mainnet where anyone can create any perpetual market. Permissionless is the key feature of this protocol, which can empower the whole community to contribute to the MCDEX ecosystem — anyone can create any perpetual market of on-chain or off-chain synthetic assets.
MCDEX V3 has an automated market maker (AMM) with 1000 times higher efficiency than that of the AMM that relies on the constant product formula. Built on Arbitrum, MCDEX V3 has the following key features:
- User experience on MCDEX is seamless and on par with centralized exchanges
- Users can save up to 100x in gas fees as compared to Ethereum layer 1
- With the sequencer feature, trades are confirmed almost instantly
Though Arbitrum mainnet is only open to developers on 28 May, MCDEX has been testing on the Arbitrum testnet since February. So far, the feedback from users has been positive and one common feedback is that the platform runs “fast and smooth”.
“The ground-breaking features of MCDEX V3 help to solve the pain points for traders on Ethereum layer 1. We believe that this will elevate user trading experience on DEXes after deploying on Arbitrum.” – MCDEX
“MCDEX V3’s advanced and innovative design is going to be game-changing for perpetual swaps, and Arbitrum’s low cost and fast response times will mean faster oracle updates, greater capital efficiency and an unparalleled user experience for MCDEX users. As one of our earliest partners, we’ve gotten to know the stellar team at MCDEX quite well, and we’re excited to reach this launch milestone together.” – Arbitrum Co-Founder, Steven Goldfeder
MCDEX recently just secured a funding of $7M led by Delphi Digital and Alamada Research.
Other participants in the round includes: Multicoin Capital, Fenbushi Capital, DeFiance Capital, Incuba Alpha, D1 Ventures, Defi Alliance, NGC, IOSG, Zeuth, OKEx Blockdream Ventures, Horizon Capital, Bixin Ventures, Digital Renaissance Foundation, Mask Network, Shata Capital, Finlink, Plutus.vc, Magic Ventures, ZBS Capital, and Meltem Demirors (angel investor).