MCDEX Announces Partnership with Binance Smart Chain to Realize the Potential of Decentralized Derivatives
We are thrilled to announce our partnership with Binance Smart Chain (BSC) to maximize the potential of derivatives!
We’ve been relentlessly working on MCDEX V3 (white paper referred to here). Mai Protocol V3 is an AMM-based decentralized perpetual swap protocol. The goal is to allow ANYONE to create and trade ANY perpetual swap. 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.
“The high Ethereum gas fee and inefficiency has severely constrained the development of the MCDEX decentralized perpetual swaps. While MCDEX is actively exploring L2 rollup plans, we are also looking for other plausible public chains. There are several essential aspects that DeFi developers need to pay attention to — speed and fee, asset size and asset diversity, the compatibility across the public chain and Ethereum EVM, and the cost for user migration across chains”
— Liu Jie, Founder of MCDEX
Upon the innovation of Mai V3, we need to choose the infrastructure to support the evolvement of this ecosystem. The MCDEX team is devoted to bringing decentralized perpetual swaps to the mainstream. As DApp developers, we stay neutral when choosing between various chains. MCDEX has a multi-chain deployment strategy, which means that we will choose several chains based on the following principles:
- Product readiness
- Developer-friendly level
- Ecosystem influence and reputation
- The cost for user migration
Based on the considerations listed above, BSC is a great choice. A highlight of the Binance Smart Chain is its Ethereum compatibility. This EVM compatibility makes the transferring of dApps developer-friendly. Furthermore, the native ecosystems of BSC are quite abundant and diverse, which would be fertile soil for the upcoming Mai V3 protocol.
We are excited about the collaboration with BSC as we believe both the Mai V3 protocol and BSC will help each other flourish. With the mutual effort of BSC as a titan in new-gen chains, and MCDEX in decentralized exchanges, decentralized finance products, and derivatives trading will take the major market.