Rank #379
3,475 people like this
mcdex  (MCB)

MCDEX (MCB)

$53.66 10.6%
0.00111808 BTC 9.7%
0.01485818 ETH 4.7%
3,475 people like this
$48.32
24H Range
$55.32
Market Cap $121,651,135
24 Hour Trading Vol $1,488,019
Fully Diluted Valuation $536,228,508
Total Value Locked (TVL) $2,060,439
Fully Diluted Valuation / TVL Ratio 260.25
Market Cap / TVL Ratio 59.04
Circulating Supply 2,268,643
Total Supply 2,268,643
Max Supply 10,000,000
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MCB
USD
USD
MCDEX (MCB) Price Chart

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1h
24h
7d
14d
30d
1y
-0.6%
10.6%
26.7%
42.9%
131.5%
1558.9%

MCB Price and Market Stats

MCB Price $53.65
Market Cap $121,651,135
Market Cap Dominance 0.01%
Trading Volume $1,484,284
Volume / Market Cap 0.0122
24h Low / 24h High $48.32 / $55.32
7d Low / 7d High $36.08 / $55.29
Market Cap Rank #379
All-Time High $55.32 -3.1%
Sep 16, 2021 (6 hours)
All-Time Low $0.911402 5783.6%
Oct 30, 2020 (11 months)

MCDEX Coin Price & Market Data

MCDEX price today is $53.66 with a 24-hour trading volume of $1,488,019. MCB price is up 10.6% in the last 24 hours. It has a circulating supply of 2.3 Million MCB coins and a total supply of 2.27 Million. If you are looking to buy or sell MCDEX, Uniswap (v2) is currently the most active exchange.

What is MCDEX (MCB) token?

MCB is a multi-purpose token that is utilized in MCDEX’s decentralized protocol which facilitates trading of perpetual contracts.

What is MCDEX?

MCDEX is a decentralized exchange (DEX) that aims to offer perpetual swaps trading. A perpetual swap contract is a financial contract without an expiration date whose trading price is anchored to the underlying asset price index through a funding mechanism. 

Perpetual contracts are based on margin, which allows leverage. The MCDEX Perpetual contract provides up to 10x leverage, by using a funding mechanism that keeps prices anchored to an index. Unlike traditional perpetual contracts such as those offered by BitMEX or Binance Futures, the MCDEX perpetual contract is decentralized which provides opportunities to build new kinds of decentralized financial products and services.


How does MCDEX work?

MCDEX relies on an automated market maker (AMM) to provide liquidity and calculate the funding rate. Both long and short traders can acquire positions by trading against the AMM. The pricing formula of MCDEX’s AMM provides a continuous depth for market-making and adjusts the price according to market demand. To supplement this, MCDEX also offers an off-chain order book because of its superior liquidity (despite its centralized nature).

However, it should be noted that there is no direct link between the off-chain order book and the AMM, nor is the funding rate calculated from the order book. The demand for trades in the off-chain order book is passed on to the AMM through the arbitrageurs, thereby changing the fair price of the AMM and indirectly affecting the funding rate.

Through this method, the formulas embedded into the AMM will create a reliable Mark Price and Funding Rate which is done fully on-chain. On the other hand, other smart contracts can obtain perpetual positions by trading against the AMM, thus offering the possibility to build structured products on top of the perpetual contracts.


What can MCDEX (MCB) tokens do?

MCB tokens have two (2) main features. The primary feature is its governance aspect which allows MCB voters to vote on numerous matters such as modification of contract parameters: commission rate, initial/maintenance margin rate, liquidation penalty rate, etc. 

The other main feature is its utility which will be introduced in later versions. MCB holders will be able to act as liquidators and take all the liquidation risk - this is balanced against liquidation penalties which will be used by the protocol to repurchase MCB tokens, thereby allowing MCB to capture the value of liquidation. Notably, MCB will also be eventually used as collateral for the AMM, enabling MCB holders to provide liquidity.


How to obtain MCDEX (MCB) tokens?

MCB tokens can be obtained by buying them from an exchange such as Uniswap. You can browse through the various centralized and decentralized exchanges by heading over to our exchanges page here. 

MCDEX News & Guides

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