xExchange (previously Maiar Decentralized Exchange) is a decentralized exchange based on an AMM model. It was built to be the first exchange for the Elrond blockchain (now MultiversX), as such, it runs on the Elrond Network and was built by the same team of developers. Users can trade, buy, and sell cryptocurrencies via the platform.
xExchange’s native cryptocurrency is MEX. It has a total supply of 8045920000000 and is used to pay for transaction fees conducted on the network. MEX is also distributed as a reward to those who provide liquidity to the platform’s pools.
What are xExchange key features and how does it work?
As mentioned, the xExchange follows an AMM model. It features some changes with the hope of improving upon the existing model and leveraging the entire Elrond ecosystem. The exchange allows peer-2-peer exchange via its peer-to-contract functionality. Smart contracts control the release of tokens and mean that the exchange can run without the need for an order book. Swaps happen instantly and are executed against funds in liquidity pools. The use of liquidity pools also allows users to earn rewards in return for depositing liquidity in these pools and earning a share of the transaction fees. The price of assets in each pool is determined using a pricing algorithm “x*y=k”. Where x and y are two different assets, and k is equal to a fixed constant.
When xExchange users trade or swap tokens using the platform a 0.3% fee is charged. 0.25% is split and shared between liquidity providers as a reward for providing their liquidity. The remaining 0.05% is used by the contract to buy MEX from the EGLD/MEX pool and burnt.
Where can you buy MEX?
MEX is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are xExchange and Bitmart. The price of MEX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for MEX market prices, please view the price charts on this page.
xExchange DEX's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 1.04 Million.
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