Mettalex is a decentralised exchange that is focused on the trading of token-based commodities. Accessible 24/7 with tight trading spreads, low margin requirements and unique hedge instruments that ensure investors cannot be liquidated prior to settlement. It allows access to traditional markets with minimal friction on taking positions and reduced requirements for margin. Mettalex combines the convenience of tokens with market sizes of the commodities world.
Mettalex is a decentralized crypto and commodities derivatives trading platform, and one of the first major applications to be built using the Fetch.ai technology. Mettalex is aiming to solve market failures inherent to today’s commodities market: front running, poor liquidity, price manipulation and loss of value in the form of margin calls.
Mettalex is the groundbreaking Fetch.ai powered decentralized derivatives exchange (DEX). It will enable commodity market instruments to trade in tokenized forms and enable the buyback of FET. You can learn more about it in this interview: https://www.youtube.com/watch?v=OZy5vD8dgAo
Mettalex is the first real-world commercial deployment powered by Fetch.ai. The launch of the platform will increase the utility and demand for the FET tokens. More details will be published soon, but in this case of the commodities derivatives exchange, MTLX governance tokens will have to be locked up in order to vote on creating new markets. Initially MTLX tokens will be allocated to FET holders locking up FET in a staking contract.
Some fraction of the exchange fees and autonomous market maker spreads is used to buy back MTLX governance tokens. The open beta release phase of Mettalex, with video walkthroughs and interactive demos will take place in early Q4. Whilst the precise list of commodities that will be on the exchange initially is yet to be finalized, it is highly likely to include Copper, Aluminium, Steel, Zinc and Iron.
To Start Trading WithMettalexExchangeCryptocurrency Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The MettalexExchangeCryptocurrency Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Mettalex.
Decentralized” Trading Platform
Mettalex offers a “decentralized” trading platform that lets traders take both long and short positions “against a range of reference assets and commodities, using a tokenization layer that represents commodities on-chain, a liquidity provision layer that allows for autonomous market making, and a governance layer that enables decentralized governance.”
MTLX token distribution: economic summary
Starting on Tuesday 8th September, 1 million MTLX tokens will be distributed to FET holders. The MTLX will be distributed in proportion to the total number of FET that are staked. So if a FET holder stakes 1% of the total FET staked, they will receive 1% of the MTLX rewards, or 10,000 MTLX tokens.
There is no minimum number of tokens that can be staked, but the more FET an individual stakes the higher the number of MTLX rewards that will be received.
Stakeholders taking hedge positions assuming price hikes or dips will not lose their collateral on the basis of short term price movements. Position tokens remain valid the breach of floor or cap occurs.
Instant exit and settlements
Positions on Mettalex are monitored by an autonomous agent that ensures the market has sufficient liquidity for selling your position in the event that you decide to exit.
Crowd-sourced collateral pool
Mettalex uses position tokens instead of margin positions offered by conventional trading platforms. These position tokens in turn are backed fully by collateral, adding another layer of stability to the exchange. Mettalex is aiming to solve market failures inherent to today’s commodities market: front running, poor liquidity, price manipulation, and loss of value in the form of margin calls.
Mettalex solves this through the creation of what is referred to as position tokens. Position tokens are primarily used to track the difference in the price of an asset. They do not require the entirety of collateral of an asset to be tied up in a smart contract, thereby allowing contracts of much larger sizes to be traded with lower collateral requirements. This is also different from the conventional leverage requirements in traditional markets as the possibility of liquidation is not dependent on basis of the movement of prices until it hits a pre-set price band.
What Makes Mettalex Different
Advanced Autonomous Market Makers
Advanced mathematics ensures that all Mettalex markets are fully collateralized. Even more efficient mathematical operations will be introduced with the incorporation of Fetch.ai technology.
Unique Defi Market
The Mettalex commodity derivatives exchange features markets unavailable anywhere in the DeFi space, including Steel, Iron Ore, Natural Gas, Aluminium, Zinc, Copper, and spreads like BTC/Gold, ETH/Gold, sCEX/sDEFI, and many more.
87.5% of all MTLX tokens will be distributed to liquidity providers (LPs) that supply stablecoin liquidity to Mettalex’s Autonomous Market Makers. That turns all Mettalex markets into “perpetual yield farms”. In addition, LPs are also rewarded with trading fees.
Stakeholders taking hedge positions assuming price hikes or dips will not lose their collateral on the basis of short term price movements. Position tokens remain valid until the date of settlement and recover in value if price recovers unlike a margin based position.
Positions on Mettalex are monitored by an autonomous agent that ensures the market has sufficient liquidity for absorbing your position in the event that you decide to exit.
Mettalex uses position tokens instead of margin positions offered by conventional trading platforms. These position tokens in turn are backed fully by individuals looking to receive a part of the trading fees from the platform. Adding another layer of stability to the exchange.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.