Singapore, Oct. 14, 2020 -- MEXC (www.mexc.com), a leading and reputable cryptocurrency provider of the spot, margin, contract, leveraged ETF, index products, contract, PoS staking, and OTC services showcase its unique approach to decentralized finance (DeFi). The transition from traditional yield mining to MX DeFi has been incredibly successful, further illustrating the company's commitment to innovation.
MEXC is Ahead of the Rest
The past few months have been incredibly exciting for anyone interested in decentralized finance, or DeFi. Many projects have been launched this year, and more of them are still in the pipeline. Numerous tokens obtained a listing on MEXC first (including PNK, COMP, LEND, POLS, and many others), as the company has beaten its competition hands-down in this segment.
The tokens listed on MEXC ahead of platforms such as OKEx, Huobi, or Binance have all gone through significant value increases. This has been appreciated by the growing MEXC Global community. Ultimately, all other major exchanges listed the tokens as well, leaving less room for profit for enthusiasts.
So far, MEXC has beaten its competitors to listing for over a dozen different DeFi tokens. That list will keep increasing as more time progresses. Keeping the finger on the DeFi pulse is crucial for any exchange trying to make a lasting impact on cryptocurrency enthusiasts.
Supporting new DeFi Projects and Tokens
Outperforming the competition requires an open mind toward new concepts and industries. MEXC Global has become one of the biggest service providers in Asia. Adding support for DeFi projects and yield farming to the growing list of services strengthens the company's position on the market.
MEXC Vice President of Global Business Katherine Deng states:
“We are always open-minded toward potential trends in the broader cryptocurrency and blockchain space. DeFi assets are in high demand, and we strive to offer our customers what they desire. This approach allows us to introduce clients to new DeFi projects and assets, all the while providing a safe yield mining environment. Our state-of-the-art Impermanent Loss Compensation ensures token volatility is never a concern.”
As cryptocurrency enthusiasts actively seek out the next potential DeFi "unicorn", they need access to new tokens at an early stage. MEXC Global provides users with everything they need, as it removes the barriers to entry often faced when dealing with DEXes. This has resulted in a much higher trading volume on the platform, as well as a growing appreciation for the various DeFi efforts launched by the company.
In turn, MEXC Global has already made the transition from yield mining to MX DeFi. Shifting the focus to a more accommodating and modern business model puts the platform several steps ahead of other exchanges. All aspects related to this transition - user feedback, lock-up funds, and overall social activity - confirm the switch to MX DeFi is exactly what the users wanted.
MX DeFi is the Future
To cater to the needs and wants of cryptocurrency enthusiasts, MEXC Global initially launched two yield mining projects. Both FRONT and POLS, which were supported by this exchange well before anyone listed them - saw plenty of enthusiasm from community members. The yield mining projects turned out to be a huge success, but MEXC noted there was room to take things one step further.
Ever since MX DeFi has been introduced, the increase in locked-up funds has been notably higher. New projects such as DeFiner, Chicken Finance, and BTCTRON have all seen ample liquidity support. Combined totals for these three projects top $20 million, with BCTRON reaching its cap of 6.4 million USDT within the first 30 minutes. A further testament to how MX DeFi is shaping the future of decentralized finance yield mining.
What’s more, the BTCTRON mining project is supported by Tron Foundation official.
Further, MEXC Global is the world's first to enable $BTCTRON deposit & withdrawal service, which is also re-tweeted by Justin Sun, founder of the TRON and current CEO of BitTorrent.
Giving users different choices and options is what decentralized finance is all about. Through MX DeFi, users can mine BTCTRON - a TRC-20 tokenized version of Bitcoin - as well as KFC and FIN tokens. All they need to do is lock their MX, USDT, or ETH assets in the pool. None of the DeFi assets has a hard cap, allowing for users to earn unlimited rewards. All locked tokens can be withdrawn in a flexible manner.
On that topic, MEXC Global users can benefit from MX DeFi and yield farming without worrying about price drops. If the mined token drops in value, users will be covered by MEXC's Impermanent Loss Compensation. In short, the company offsets profits or covers outstanding losses through its standby fund.
MEXC Global is the only trading platform offering such lucrative yield farming options to its users. The company's mission is to empower the user first and foremost.
MEXC Global Vice president of Global Operations Alex adds:
“At MEXC, we are 110% committed to providing our users with the best and safest trading experience. Decentralized finance is the most popular trend in cryptocurrency right now. Our dedication to supporting up-and-coming projects creates a win-win-win situation for us, our users, and the innovative DeFi projects.”
About MEXC Global
Established in April 2018, MEXC Global is one of the world’s leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services. The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.