Mandala Minutes Edition 6

Mandala Exchange

Mandala Exchange

Aug 1. 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:

  • Binance Cloud contract renewal
  • MDX BSC/BEP20 contract deployment
  • MDX ERC20 <> BEP20 Bridge
  • Mandala Madness 
  • App Push Notifications 
  • ETF Trading Pairs
  • MandalaFi
  • Exchange Highlights
  • Community FAQs

👉 Binance Cloud X Mandala Exchange

We are excited to announce the continuation of our partnership with Binance Cloud for a third year! Since its inception, Mandala has prided itself on its strong ties to the Binance ecosystem, and the renewal of its contract displays each company’s commitment to building a long-standing relationship with one another. 

We look forward to bringing a host of new features and improvements to our exchange and user base this year, and, in conjunction with Binance Cloud, continuing to develop a user-friendly exchange with world-class infrastructure, liquidity, security, and trading pairs.

MDX BSC Contract Deployment
Our native token is now available on the Binance Smart Chain!
This will open up a whole world of new functionalities for our token.
You can find the link to our MDXT BSC contract below:
https://bscscan.com/token/0xC40289e08BB3eb14a26c9AEc9F2EEacB9FDaB297

Tune in this Friday to Mandala Musings for more details surrounding the new BSC contract!
https://twitter.com/MandalaEx

MDX (ERC20) <> MDX BEP20) Bridge

Mandala is excited to announce the deployment of the MDX bridge, where tokens will be swapped 1:1 from ERC20 to BEP20 (Binance Smart Chain), in anticipation of their usage through the MandalaFi decentralized finance ecosystem.

You can find the bridge at the link below:
https://app.multichain.org/#/router
You will not be able to use the bridge until we have started our liquidity pool.

Mandala Madness
After first introducing Mandala Madness back in January, we have given away over $40,000 to our traders! Mandala Madness has brought a unique utility to the MDX token. We want to continue to provide that unique utility as we move closer to rolling out features such as single asset staking. After 6 months of running Mandala Madness, we have received a ton of feedback from our community on ways we can improve these giveaways. We took this feedback and are rolling out a few changes to the lottery. The first change will be more frequent drawings! Starting in August, we will be drawing three winners on a WEEKLY basis. In order to try and spread the wealth a bit we are also adding a rule that no users can win the weekly Mandala Madness prize 2 weeks in a row. The second change we will be implementing is a new payout structure. Each week, we will be giving away 75,000 MDXT 3 lucky winners will each receive 25,000 MDXT So, rather than calculating the prize pool from volume, each week there will be 75,000 MDXT up for grabs.
As we inch closer to rolling out single asset staking for MDXT, it’s time to build that bag of MDXT! Keep in mind, that the more MDXT you accumulate, the larger your staking rewards will be when we roll out staking on MandalaFi So lock up those tokens for your weekly shot at those 75,000 MDXT tokens.
One cannot win back-to-back weeks
Weekly Madness drawings are held every Monday @ 00:00 UTC

App Update – Push Notifications

We are currently testing our Mandala Exchange App push notifications.
We will be sure to let everyone know once that update is ready to install.
Stay tuned for more…

ETF Trading Pairs

Mandala is proud to announce the integration of multiple ETF (UP/DOWN) pairs on Mandala Exchange, including ADA, BNB, BTC, DOT, ETH, LINK, TRX, and XRP. 

For context, an ETF, or Exchange Traded Fund, is a publicly traded fund, in this case, one traded on Mandala, that tracks the asset held by the fund (the asset pairs listed above). These pairs track the perpetual contracts listed on Binance.com’s futures platform, allowing the trader to have leveraged exposure to price action without worrying about margin or liquidation, as one would with typical margin or otherwise leveraged trades. 

When trading these funds, the trader selects the token contract they want to purchase (ADA, BNB, BTC, ETH…) based on their anticipated price movement of the token (UP/DOWN), giving the trader a relatively inexpensive and easy entry and exit point to and from the market,  without having to purchase the underlying crypto assets.

DISCLAIMER: Mandala understands that trading leveraged assets, even at low leverage, can be risky for traders of all experience levels. We encourage any trader interested in trading ETF tokens to carefully research the associated risks and consider whether trading these pairs are compatible with your trading sophistication and experience, investment objectives, and risk tolerance. 

ZERO Fee BTC & BUSD Trading

We are currently running the following trading promotions:

  • ZERO Fee BTC promotion on the following pairs: BTC/USDT BTC/BUSD BTC/USDC BTC/TUSD BTC/USDP BTC/EUR BTC/TRY BTC/AUD BTC/GBP BTC/BRL BTC/BIDR BTC/RUB BTC/UAH

This promotion is running until further notice.

  • ZERO maker fees for all BUSD pairs & ZERO trading fees for BUSD/USDT, TUSD/BUSD, TUSD/USDT, USDC/BUSD, USDC/USDT, USDP/BUSD, and USDP/USDT 

This promotion will run until 2022-12-31 00:00 AM (UTC)

MandalaFi

User testing continues on MandalaFi. Our beta testers have continued to provide valuable feedback which will help build case studies and allow for the SimpleDefi development team to optimize the platform further prior to the next phase of MandalaFi. 

We will have additional updates for all Mandalarians as we get ready for launch, so be sure to keep an eye on our socials!

Exchange Highlights

Total Volume for the month of July: $104M

Average Daily Volume for the month of July: $3.4M

Highest Volume of the month: $5.8M

Top 10 Traded Assets: Month of July

  1. BTC
  2. ETH
  3. MATIC
  4. SHIB
  5. USDC
  6. XRP
  7. SOL
  8. XTZ
  9. THETA
  10. KMD

Most Traders by Country:
Germany 9.4%


Community FAQs

Q. What wallet will work best for the upcoming MandalaFi DeFi Integration? 

A. Metamask. This is the wallet we will be using with our instructional material that will be released in conjunction with our platform launch.

Q. Do I need to do anything with my MDX to use it in the MandalaFi DeFi ecosystem?

A. Yes. Once MDX is integrated into the MandalaFi ecosystem it will utilize the BEP 20 Network. Instructional material on how to bridge your ERC 20 tokens to BEP 20 will be made available beforehand.

Q. Will MandalaFi offer auto-compounding rewards?

A. Depends on the farm, but generally yes.

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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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