Mandala Minutes Edition 10

Mandala Exchange

Mandala Exchange

Dec. 5. 10 min read

Hello Mandalarians!

We are back with ‘Mandala Minutes’, a dedicated monthly newsletter compiled by the team to help inform our userbase about the new and exciting news surrounding Mandala Exchange.

In this edition of our newsletter you will find updates on:

  • Executive Excerpts
  • MandalaFi + exoBridge Progress
  • MoonPay Fiat OnRamp
  • Exchange Highlights
  • Community

👉


Executive Excerpts:

November was a month of development for both our centralized and decentralized ecosystems, and this development carries into the final month of 2022, as Mandala continues to expand our offerings to our user base. 

On the centralized side, Mandala launched a fully integrated Moonpay fiat on ramp, allowing our users to seamlessly purchase cryptocurrency using various forms of fiat, providing our community another low-fee entry point to begin their journey on Mandala.

On the decentralized front, the MandalaFi X EXO development continues to progress, with EXO having run a live demonstration of the swap bridge for our beta testers. The user interfacing for the bridge, as well as the coding for the single asset staking, are complete, and a few final touch-ups are being tested internally prior to full beta access. 

Mandala continues to develop partnerships with multiple ecosystems in anticipation of these releases, and encourages any and all interested parties to reach out to our team to set up meetings for a live demo and explanation of the bridge integration.

As always, we thank you for your continued support and usage of Mandala Exchange in these turbulent times, and look forward to seeing what 2023 will bear for the crypto markets as a whole.

Joseph Reiben – Chief Executive Officer, Mandala Exchange

MandalaFi Progress:

Our UI developer has made some great strides over the past couple of weeks and we are inching our way closer to release.
The MandalaFi front end for the swap is fully mobile responsive and essentially complete. We were never really comfortable releasing the existing platform with its basic ‘alpha’ UI, even to our closed group of Beta Testers. A touch of perfectionism maybe, but it didn’t sit quite right to release something less than polished, even at beta stage.
Essentially this means that, when testers get access, it’ll be to the full-flavor swap platform they’re trading on that is very close to the finished product subsequently pushed live for the public.

How about a quick sneak peek? 👀

All the elements are complete; the trading swap itself has of course been working for several weeks now, and the output estimate is also done along with live transaction updates and the UI.
The work ongoing now is just tying it all together.
First, the API data feeds, and then the web3/smart contract integration will get integrated.
We will be releasing the beta URL to our private testers, which will allow them to browse and explore the new front end while the final integration is being completed. The dev pipeline is set up such that updates will be pushed periodically to this URL, so our testers will see functionality added incrementally and can provide their feedback. As the API feeds are integrated, testers will be able to see swap output estimates exactly as they will when performing a trade once the web3 hookup is complete. At that time our beta testers will be able to actually swap cross-chain using their whitelisted wallets.
The general idea here is to be able to have a publicly available beta for non-testers to explore while restricting actual trading on it to beta-only members until we’re ready to go fully live. You heard that right, everyone will be able to see our progress as we build even if they’re not testing the platform.

We also would like to highlight our latest transaction record we are very proud of.
We swapped DOGE on BSC to DOGE on Ethereum all in one transaction and it settled in a mere 3 minutes & 2 seconds!
For comparison, most cross-chain bridges don’t actually support swapping, only bridging one token between chains. The average transaction time is approximately 10-30mins, with reliability issues that sometimes extend that even further.

We are very close to opening this up to our beta group and hope they will share their sentiments about exoSwap with both communities as we fine-tune the platform together!

Conversations are ongoing with several reputable projects who have expressed interest in this white-labeled tech. If you know of a project that could benefit from this cross-chain swap, please do not hesitate to post this in our #Suggestions channel on Discord.

MoonPay Fiat OnRamp:

Itching for some big news? 👀 

We’ve been listening and we got you covered…

A major request we have heard from our community is for a fully integrated Fiat On-Ramp.

Today we are excited to announce that the Mandala Exchange Fiat On-Ramp is now fully integrated and LIVE on our exchange!

Mandala Exchange and Binance Cloud have partnered with MoonPay to offer our users a quick and easy way to purchase crypto with their fiat directly within the exchange.

Mandala will offer BTC, ETH, and USDT purchases to begin with, but you can expect to see this list grow as we move forward.

Purchase Crypto Today ➡️  https://trade.mandala.exchange/buy-sell-crypto/other-channel

What is MoonPay?

MoonPay is a financial technology company that builds payment infrastructures for crypto. The MoonPay on-and-off-ramp suite of products provides a seamless experience for converting between fiat currencies and cryptocurrencies using all primary payment methods; including debit and credit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. MoonPay is active in more than 160 countries and is trusted by 250+ leading wallets, websites, and applications to accept payments and defeat fraud.

https://www.moonpay.com/


Exchange Highlights:

Total Volume for the month of November:

$82,000,000

Average Daily Volume for the month of November: $2,570,000

Highest Volume of the month: $5,700,000

Top 10 Traded Assets: Month of November

  1. BTC
  2. DOGE
  3. THETA
  4. XRP
  5. SHIB
  6. ETH
  7. MATIC
  8. BUSD
  9. XMR
  10. SFP

Most Traders by Country: Germany 9.8%

Community Updates:

#1 CMC (Coin Market Cap) 

It has been a long time coming but our time has finally arrived. CMC is now automatically tracking our MDXT token. 

Please take a moment to visit Coin Market Cap and express your Bullish sentiment for our Mandala Exchange Token. 

This can be done by doing the following while you are visiting the token page listed below: 

✅ Upvote [👍Good]

✅ Add us to your watchlist ⭐ 

✅ Leave a comment 💬

✅ Show some love for the other commenters ❤️

Making this a part of your daily routine will help us rise in the rankings and benefit all those who are interested in the success of our project.

Thank you to all who have been patiently waiting while we worked with CMC to make this happen. 🙏

Coin Market Cap

#2 HODL. Bot

HODL. Bot is now available on our Discord server. It has become our main content provider for our Discord News Feed Channel. Many other features and commands are available for use by everyone in our Discord Bot Command Channel. Feel free to give us your feedback on it in our Discord and explore all of the options and commands available for the bot at their website. Links below.

Thank you and enjoy.

Mandala Discord

HODL. Bot Website

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RISK WARNING: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Mandala Exchange will make best efforts to choose high-quality coins but will not be responsible for your trading losses.

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