Mdex has introduced the MDX token as its native token. The blockchain on which the Mandala (MDX token) operates is highly valued owing to the success and uniqueness of the project. The total supply of MDX tokens is limited to 1 billion, and these tokens can be traded and mined. A block appears with 80 MDX per block every three seconds as a reward.
In 2020, Mandala was launched as an exchange on the Binance Smart Chain. Although Mandala (MDX) was recently launched, there have been continuous developments in its features by the team.
Here are a few reasons to invest in MDX Token.
Support by Binance
Binance is among the world’s largest crypto exchanges. The primary reason for investing in the MDX token (Mandala exchange) is that it is being operated on the Binance blockchain and supported by Binance.
This works as a solution to one of the major problems faced by new exchanges, such as low liquidity and trading volume. This results in massive liquidity and trading pace for the users of Mandala Exchange due to shares on Binance Smart Chain.
Moreover, an order book and shares trading volume is shared with Binance by Mandala since it is hosted on the Binance chain. In addition, sharing the platform with Binance makes the MDX token more secure due to similar wallet features and operating protocols.
Low Market cap of MDX Token
For the past month, the price of MDX has been around $0.15 due to MDX being not well known yet. As a result, it has a low token price with a small market cap but is anticipated to increase once its marketing campaign is kicked off.
Currently, the market capitalization is $60 million with 400 million tokens in the market. While on the other hand, the BNB token with similar functionality as MDX has a market cap of more than $36 billion. Thus, with even just 10% of the BNB market, the MDX token would reach $9 for each token, i.e. 60x of the current value.
MDX not listed on Binance
Mandala token was launched recently on the Binance blockchain as an exchange and is into continuous improvements such as margin trading, mobile apps, fiat on-ramps, etc., before attracting users through the campaigning of the platform.
Thus, the MDX token has not yet been marketed; the crypto community users are still unaware of the exchange; as a result, the number of investors in the MDX token is less. The MDX token will be listed on the Binance blockchain and made available for investors to execute the marketing campaign.
Perhaps, as the records on the Binance chain with its massive user base, new tokens have a chance to explode in terms of price and investments. For instance, REEF has seen a major upswing of 240x since it got listed on Binance.
Less Trading Fees for MDX Tokens
The users who hold Mandala tokens and lock them can benefit from reduced trading fees. MDX tokens allow its users reduced trading fees based on the coins they hold—the more coins held by a user, the lesser the trading fees for the user.
The users can get the lowest trading fees of 0.05% with a locking balance of at least 32000 MDX coins. Even then, the maximum trading fee you might have to pay is just 0.10%.
Thus, users aim to gain many tokens to reduce the trading fees thereby affecting their profits, just like BNB.
Moreover, it is easier to reduce trading fees on Mandala (MDX) than the BNB, as the Binance requires not only 9000 BNB but also a 30-day trading volume of over 80000 BTC. Hence, the difficulty of reducing trading fees is significant.
With time, more and more traders/investors would realise the benefits and savings available on Mandala, the MDX token will see a rise in demand, leading to more MDX being locked up, and the prices are expected to hit the roof.
To be precise, the ultimate benefit of MDX is no minimum trade volume requirements to hold and lock MDX.
Mandala Token will list projects other than Binance
Even though a trading volume and an order book are shared with Binance, MDX tokens can be listed as independent coins without being on the Binance chain. Therefore, by listing new individual projects without making them available on the mainstream exchange, new users who are willing to invest in these projects can be attracted by the Mandala exchange, fueling a significant growth in the platform
How to buy an MDX token?
To buy MDX tokens, users can log in to the exchange platforms that support the Mandala tokens, such as Zebpay – one of India’s oldest and best cryptocurrency exchange platforms.
Create an account on the exchange platform with your phone number and user name, followed by submitting the KYC documents.
Deposit to add crypto to the Zepbay wallet, or users can also link their bank accounts for buying the cryptos, for the first time.
Start trading and collecting the cryptos; moreover, users can also buy Mandala tokens or other cryptos at a fraction of value, as little as starting from Rs 100.
Thus, with such innovative features as Binance security and liquidity, the Mandala (MDX token) is becoming a majestic exchange in the global crypto market.