[ANN] MCDEX - Decentralized Derivatives Exchange - Perpetual, Futures

[MonteCarloDEX]

MCDEX - Decentralized Derivatives Exchange - Perpetual, Futures





The first 100 users who trade ETH worth 10$ or more will get a refund of 10 USDT within 5 days

WEBSITE

AFFILIATE PROGRAM

TWITTER

TELEGRAM

MEDIUM

REDDIT

GITHUB

Introducing MCDEX V2- Perpetual - The first-ever decentralized perpetual contract

ETH-PERP contract is available for trading here

The first contract live is ETH-PERP, which has the following features:

(1) Deribit-like continuous funding rate
(2) Introduce Uniswap-like AMM to Perpetual contracts

In Perpetual contracts, the Funding rate reflects the supply and demand for future trades. On centralized exchanges, the
impact bid/ask price of the order book accurately provides this information. The on-chain order book for decentralized
perpetual contracts is quite expensive, so we don’t use the on-chain order book for decentralized perpetual contracts.
In fact, this is the most challenging aspect of designing a decentralized perpetual contract — to derive the funding rate on the chain.

Therefore, our MCDEX team introduced an Automated Market Maker(AMM) to our Perpetual Smart Contract. Since arbitragers
will continuously transfer liquidity between the off-chain order book and the on-chain AMM, the AMM should have an
“order book” like logic. That’s why we use AMM’s mid-price to reflect the market demand/supply of the trades.

The AMM price can have various formulas, thus many choices. In the first phase, we have chosen the classical x*y=k,
which already has several successful use cases. We’ll continuously upgrade the price formula over time. Meanwhile,

MCDEX also provided an off-chain order book for order matching to provide liquidity.


How to Trade

With the on-chain AMM and off-chain order book running at the same time, MCDEX users have two trading choices:
a. Trade with AMM, which is simple and intuitive.
b. Trade with order book, which is similar to trading Perpetual contract on a centralized exchange.


Trade with AMM



Advantages: Fully decentralized trading, simple & intuitive UX
Disadvantages: potential risk of worse slippage


Trade with Order book



Advantages: Better liquidity, a similar experience with Perpetual on centralized exchanges
Disadvantages: Off-chain order book

All you need trade is ETH, no need for any other coins.
Also, anyone can add or remove liquidity to the AMM by depositing or withdrawing ETH respectively.


Perpetual Contract Features

1) Market price soft peg to index price through a funding mechanism
2) Up to 10x leverage
3) AMM provides on-chain liquidity & funding rate
4) Off-chain order book enhancing liquidity
5) Isolated margin & liquidation

Please refer to reference, if you are interested in details.


The Protocol

MCDEX V2 is built on Mai2 Protocol, which is open-source on https://github.com/mcdexio/mai-protocol-v2.
The Mai2 Protocol will soon be audited.

Features of Mai2 Protocol:
1. Manage Perpetual margin accounts.
2. Trade with counter-parties and manage positions.
3. Trade with AMM and add/remove liquidity.
4. The Funding Rate is calculated by AMM.
5. Funding payment between longs and shorts.
6. Validate users’ orders and execute the match result of the order book engine.
7. Liquidate the positions whose margin fraction is less than its maintenance margin.
8. Leverage the insurance fund to liquidate accounts when in danger of bankruptcy.
9. Socialize the loss when the Insurance fund is inadequate.
10. Global settlement if there is an emergency to keep the users’ assets safe.


Roadmap

Up to now, 2020 is tough. But we’ll still deliver the following plans:

1. Designing AMM’s pricing formula for perpetual contracts to improve capital efficiency and low slippage.

2. Developing mobile products and work closely with more wallets.

3. BTC-PERP. MCDEX will launch the BTC perpetual contract soon. Before launching the contract, we will discuss
the MCDEX BTC-PERP with our community, investors, users, and other stakeholders. Join our community here.

4. Introducing solutions to improve transaction performance by 10 times. The blockchain infrastructure is constantly
improving, and new technologies are constantly emerging. Based on our understanding of the MCDEX business,
we will introduce suitable infrastructural technologies to greatly improve the transaction performance of MCDEX by 10 times.

5. Security is our top priority. We’ve set up a global settlement committee during extreme situations to deal with the
volatility of the market and attacks. The power of the admins, which is enabled by the global settlement, will be given
to the governance committee, who can decide when to start a global settlement and the detailed rules of it.
The committee will be community-led. We will gradually move the governance responsibility to the committee,
who are stakeholders of MCDEX, like active uses, the market-making team, early investors, etc.
Detailed regulations will be shared soon. Stay tuned here.

2020 will be a magnification year for MCDEX. We are embracing the dramatic change of DeFi and
hope that DeFi can be mainstream with the endeavor of the DeFi community.


Leveraging Chainlink Oracles for Index Prices



Know More - https://medium.com/@montecarlodex/mcdexs-perpetual-contracts-to-leverage-chainlink-oracles-for-index-prices-7af84eb319d9


60% Commission Rate instead of 50% for Bitcointalk Users



HOW TO PARTICIPATE IN THE AFFILIATE PROGRAM

1) Visit https://mcdex.io/homepage/affiliate.html & connect your ETH wallet (MetaMask).

2) After connecting your wallet, fill in your name and email address on the next screen.

3) Enter "BITCOINTALK" in the field "From where did you hear about our affiliate program?" to get 60% Commission Rate.

4) Comment on this thread the email address you used for signing up for the affiliate program.

5) Once your affiliate application is approved, find your unique invite link (affiliate link) from the dashboard.

6) Start inviting users and get a 60% Commission Rate.


NOTE

You get your own unique invitation link.

You can see and manage your revenues through the affiliate system.

You get access to MCDEX promotional materials: such as posters, videos, articles, user activities, and more.

Access comprehensive product training and marketing support from MCDEX.

Marketing support includes events customized for your user base, gifts, trading competitions, and more.

The settlement and transfer of funds will take place at 10:00 AM UTC every day.

WEBSITE

AFFILIATE PROGRAM

TWITTER

TELEGRAM

MEDIUM

REDDIT

GITHUB

[indo1]

The first 100 users who trade ETH worth 10 $ or more will get a refund of 10 USDT,
is this still valid now? I want to try it, and please provide detailed information so that you can follow the instructions to get a bonus of $ 10 right now, is it enough to just buy one time and the bonus goes directly to my account?
or there are other requirements for claim bonuses applied

[MonteCarloDEX]

The first 100 users who trade ETH worth 10 $ or more will get a refund of 10 USDT,
is this still valid now? I want to try it, and please provide detailed information so that you can follow the instructions to get a bonus of $ 10 right now, is it enough to just buy one time and the bonus goes directly to my account?
or there are other requirements for claim bonuses applied

Yes, it is valid. Just connect your wallet and start trading. 10$ will be refunded in 5 or less than 5 days!

[Twinkledoe]

The first 100 users who trade ETH worth 10 $ or more will get a refund of 10 USDT,
is this still valid now? I want to try it, and please provide detailed information so that you can follow the instructions to get a bonus of $ 10 right now, is it enough to just buy one time and the bonus goes directly to my account?
or there are other requirements for claim bonuses applied

Yes, it is valid. Just connect your wallet and start trading. 10$ will be refunded in 5 or less than 5 days!

Do you have any set of guidelines that a trader needs to follow? Sometimes the rule is simple but there are underlying conditions before one can get the bonus.

[MonteCarloDEX]

The first 100 users who trade ETH worth 10 $ or more will get a refund of 10 USDT,
is this still valid now? I want to try it, and please provide detailed information so that you can follow the instructions to get a bonus of $ 10 right now, is it enough to just buy one time and the bonus goes directly to my account?
or there are other requirements for claim bonuses applied

Yes, it is valid. Just connect your wallet and start trading. 10$ will be refunded in 5 or less than 5 days!

Do you have any set of guidelines that a trader needs to follow? Sometimes the rule is simple but there are underlying conditions before one can get the bonus.

Please join this group to know more - https://t.me/mcdex_bounty_affiliate

[cooltoadfrommoon]

Where can I read more about your project as well as in general about the DeFi Industry? I heard that DeFi Pulse is a good place to start.

[MonteCarloDEX]

Where can I read more about your project as well as in general about the DeFi Industry? I heard that DeFi Pulse is a good place to start.

Please refer to the reference section on our website - https://mcdex.io/references/#/

In order to learn more about DeFi, I suggest you subscribe to the newsletters on DeFi pulse. There are quite a few good ones like DeFi Value, Dose of DeFi, etc!

[prettiestgirl]

Where can I read more about your project as well as in general about the DeFi Industry? I heard that DeFi Pulse is a good place to start.

Please refer to the reference section on our website - https://mcdex.io/references/#/

In order to learn more about DeFi, I suggest you subscribe to the newsletters on DeFi pulse. There are quite a few good ones like DeFi Value, Dose of DeFi, etc!

I signed up for your affiliate program. Please accept my application.

What are your future plans?

[MonteCarloDEX]

Where can I read more about your project as well as in general about the DeFi Industry? I heard that DeFi Pulse is a good place to start.

Please refer to the reference section on our website - https://mcdex.io/references/#/

In order to learn more about DeFi, I suggest you subscribe to the newsletters on DeFi pulse. There are quite a few good ones like DeFi Value, Dose of DeFi, etc!

I signed up for your affiliate program. Please accept my application.

What are your future plans?

All new affiliates have been accepted. You must have gotten an email.

Up to now, 2020 is tough. But we’ll still deliver the following plans:

1. Designing AMM’s pricing formula for perpetual contracts to improve capital efficiency and low slippage.

2. Developing mobile products and work closely with more wallets.

3. BTC-PERP. MCDEX will launch the BTC perpetual contract soon. Before launching the contract, we will discuss the MCDEX BTC-PERP with our community, investors, users, and other stakeholders.

4. Introducing solutions to improve transaction performance by 10 times. The blockchain infrastructure is constantly improving, and new technologies are constantly emerging. Based on our understanding of the MCDEX business, we will introduce suitable infrastructural technologies to greatly improve the transaction performance of MCDEX by 10 times.

5. Security is our top priority. We’ve set up a global settlement committee during extreme situations to deal with the volatility of the market and attacks. The power of the admins, which is enabled by the global settlement, will be given to the governance committee, who can decide when to start a global settlement and the detailed rules of it. The committee will be community-led. We will gradually move the governance responsibility to the committee, who are stakeholders of MCDEX, like active uses, the market-making team, early investors, etc. Detailed regulations will be shared soon.

You can read more about our Future Plans here - https://medium.com/@montecarlodex/mcdex-2020-prospect-b47a74cd94d3

Let us know if you have more questions for us.

Thank you!

[cooltoadfrommoon]

DeFi is promising. I knew about dydx. I traded on your platform. Exploring your user interface. Good start. Is there a document that lists the comparison between MCDEX and dydx?

[Kopiev]

MCDEX wrote an article on the bounty program, reward for bugs and bugs in a smart contract
https://medium.com/@montecarlodex/mcdex-bug-bounty-program-b4389247b628

[gartmah]

Due to the very large commission in the ether network, reaching about 500 gui, a vote was taken, according to the results of which it was decided to reduce the reward for providing liquidity to 0.2 MCB / block from September 11, 2020 https://forum.mcdex.io/t/proposal-14-reduce-mining-reward-to-0-2mcb-block/215

[gartmah]

Monte Carlo DEX (MCDEX) on September 26 launched a liquidity pool (HAN) that will last 14 days
https://medium.com/@montecarlodex/liquidity-mining-round-han-20ec85e025aa

[BitMaver]

MCDEX launching on Arbitrum Rollup L2 testnet
MCDEX is thrilled to announce its testnet launch on Arbitrum Rollup, a layer two optimistic rollup scalability solution for Ethereum built by Offchain Labs!

The migration of DeFi protocols to Ethereum L2 will be the real battlefield of derivatives in the DeFi space. Once built on Ethereum L2, perpetual swaps, the most popular way of trading cryptocurrencies, will be able to realize their full potential. The launch of MCDEX on Arbitrum is revolutionary and MCDEX is excited to launch their testnet on Arbitrum Rollup. This launch will allow MCDEX to bring decentralized perpetual swaps to the mainstream public.

Read how it works here: https://mcdex.medium.com/mcdex-launching-on-arbitrum-rollup-l2-testnet-d374edcb9de2.