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

MarginX, the world’s first community-based decentralized exchange (DEX), launches on the Function X blockchain today. It uses a unique multi-chain and onchain infrastructure, which allows investors to trade at close to zero fees, high throughput, liquidity, full ownership, and transparency.

During its beta test in August this year, the DEX accumulated a total transaction volume of more than 45 billion USDT. Currently, with a small group of invited users, the number of transactions on MarginX continues to steadily climb past 48 million, with the most updated numbers found on the Function X StarScan (https://starscan.io/).

“Today marks a milestone for not just MarginX but the DeFi ecosystem, as we push forth the notion of true decentralization, and uphold the values of community and ownership through our unique DEX infrastructure,” said Dr. Danny Lim, Core Contributor of MarginX. “We are thrilled to be building on the Function X blockchain, as it provides us with the multi-chain architecture and EVM compatibility that sets the right DeFi environment for MarginX and its future DeFi protocols.”

MarginX: A Truly Decentralized DEX for the Community

MarginX is the first decentralized exchange based on community. We are committed to being a contributor-driven and fully decentralized infrastructure for blockchain technology. MarginX is the first community-based DEX in the world. The following key features can be used to define the DEX:

1. Super Low Transaction Fees
   
   
   MarginX runs on a multi-chain, cross-chain and para-chain infrastructure that allows the platform to handle a throughput of 2,000-20,000 transactions per block, while reducing congestion in the blockchain — thereby maintaining gas fees as low as 0. 003 USDT and transaction fees as low as 0.04%.
2. Users Control Their Assets
   
   
   All funds are traded via non-custodial wallets. All transactions are done on-chain, so they are transparent, secure, verifiable, and transparent. MarginX currently supports f(x), but it is being developed to support all decentralized wallets, i.e. WalletConnect will soon be able to support MetaMask and Trust Wallet.
3. Full Visibility and Access
   
   
   All transactions run on-chain and are recorded on the blockchain. These transactions include order matching, cancellation, funding rate settlement, liquidation and governance. These records can be viewed by anyone, and they can all be analyzed to create a fair system for checks and balances.
4. Connecting TradFi and DeFi
   
   
   MarginX is the foundation on which other DeFi products, such as stock-based derivatives and traditional financial assets, can be built. The DEX lets anyone design and build their own DeFi products using blockchain technology. It also offers tools that connect the old and the new traders in the financial world.
5. By the Community, for the Community
   
   
   MarginX gives every stakeholder a voice through its governance structure. MarginX’s utility NFT system determines the voting rights of each user, as well as trading rebates, referral fees and trading fees. This creates a sense community and provides users with an additional, permanent source of income.

In addition, in never-before-seen DEX style, MarginX offers a paper trading platform (https://demo.marginx.io) that runs parallel to its live trading platform. This allows new users to quickly learn how to trade in real-world conditions using test tokens.

“Our goal is to have people think about MarginX as more than just a DEX — it is an entire infrastructure on which DeFi protocols can be built upon,” said Dr. Shin Liang Chin, Core Contributor of MarginX. Blockchain technologies promise to make finance more accessible, transparent, and safer for everyone. We hope to make finance more accessible, more transparent and more secure for everyone through the use of blockchain technologies.”

Currently, MarginX facilitates the trading of cryptocurrency-based perpetual contracts for BTC, ETH and FX. In keeping consistent with the values of community and ownership, MarginX will not involve any ICO, IEO, token sale or NFT sale, so as to level the playing field for all.

For more information, please refer to our media kit () 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 via a multi-chain and on-chain infrastructure. It is a platform that allows investors to buy, sell, or create derivative products from any financial asset. Every stakeholder can have a voice in the future direction of the exchange.

Contact

Marketing & Communications Lead, Dione Chen, MarginX, [email protected]