MDEX Review 2024: The Ultimate Crypto Gamble? Safety, Fees, & Features Revealed

MDEX, a more common name for the Mandela Exchange, refers to a cryptocurrency exchange that offers some of the most unique features to its user base. The platform is based on a decentralized protocol that can be used for trading crypto assets. The platform is based on the Heco chain which enables it to have some advanced features that are not available on other chains such as the Ethereum Mainnet. MDEX review has a large liquidity pool that boasts of an impressive scale with unparalleled numbers and statistics.

Along with its token, the platform has witnessed exponential growth since its inception. MDEX started dealing with high volumes of trades since it began its operations. The total value locked for USDT has touched an enormous amount of $2.5+ Billion (at the time of writing of this article – August 8, 2021) and the numbers continue to swell. MDEX has its own token – MDX and comes with all the perks of the platform’s own token such as voting rights and governance. Read our MDEX review to know all about it.

MDEX Summary

Official Website
Found in 2021
Native Token Yes
Listed Cryptocurrency 25+
Trading Pairs 20+
Supported Fiat Currencies Yes
Supported Countries Few Countries
Minimum Deposit Free
Deposit Fees Depends on Currency & Payment Methods
Transaction Fees 0.30%
Withdrawal Fees Free
Application No
Customer Support Email, FAQ & Social media

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What Is MDEX?

Based on a decentralized trading protocol, MDEX is a platform that serves as an exchange and interface between investors and the crypto marketplace of the Heco chain. The platform has a large variety of features and services that contributes to its popularity. This exchange (community-led) offers up to 0% trading fees through mining and also provides incentives for users who hold over $100 Million MDX.

The platform has an ongoing bug bounty where developers can report any software glitch/bug or vulnerability to the team and get rewarded for the same. This serves as a measure to increase the security of the platform by having it tested by the public.

MDEX Platform Interface

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How Does the MDEX Exchange Work?

MDEX generates its revenue through transaction fees that are charged from users. In addition to the fee, the platform gives out rewards for mining its own MDX tokens. These tokens can be exchanged with a 1:1 ratio on the platform and are used as gas fees or burning fees for the various transactions that take place on the trading platform.

MDEX Exchange History

After the initial release of the project, MDEX quickly raised the liquidity value to $275 million and a transaction value of $521 million. During the initial stages, MDEX had not integrated with the Binance Smart Chain and still managed to gather a huge volume. Within 18 days of its release, the daily transaction reached a billion dollars. Soon after, the liquidity reached a worth of one billion USD. Moving on with its expansion plans, MDEX integrated with BSC on April 8, 2021, and instantly saw a surge in the various finances of the platform.

MDEX has transformed the concept of fund pools in the sense that it is able to maintain unparalleled guaranteed liquidity and still provides a seamless platform for instant trading and low transaction fees. Being based on the Heco chain, it works with a dual mining mechanism that increases the safety of the finances and makes them more immune to attacks. Individuals can easily stake or trade on the platform and choose from thousands of trading pairs provided by smart contractors.

MDEX Exchange Features

MDEX is one of those platforms that are able to bring in a lot of users by the sheer power of features and functionalities, even if they are not linked on the biggest chains by market cap. This MDEX review covers the following features:-

  • MDEX also comes with a feature through which individuals can bridge their asset cross-chain, for instance, trade MDX token from Heco chain to Binance smart chain. This is one of the most elite functionalities/tools that the platform offers for advanced traders.
  • The decentralized platform is also a market maker which lets individuals stake their assets and gain returns on their assets. The crypto exchange also has functionality for swapping assets. The swap transactions can take place within 5 seconds while it might take several minutes on other platforms.
  • The swap interface is also user-friendly. This adds to the attractive nature of MDEX. The Huobi eco chain is able to provide various benefits to individuals for liquidity mining as the generation of more MDX tokens means faster growth for the exchange.
  • Each token gives users the power to cast votes and make decisions for the decentralized exchange as the governance is community-driven. Large pools are always an advantage for any platform and the 24-hour transaction volume for HECO and BSC has been consistently reaching a combined total in the range of $750+ Billion.

MDEX Features

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Services and Products Offered by MDEX

MDEX has introduced numerous services and products to the marketplace ever since its inception, and these cover the domains of trading, swapping, mining, boardrooms, and a burning black hole game (with several rewards). Currently, the platform offers single token staking, cross-chain asset services and transactions, transaction mining, trading, etc. It might seem to beginners that the platform provides the same services as other Defi and Cefi mediums, but the scale and simplicity of MDEX are undisputed.

This MDEX review offers the following Services:-

Cross-Chain Services

Earlier this year (2021), the cryptocurrency exchange platform integrated with the Binance Smart Chain (BSC). This integration not only brought in assets and trades worth billions to the platform but also enabled it to provide services and transactions across its foundational chain and the smart chain. The combined management of Heco and BSC is how MDEX enables its users to transfer their assets across the different chains through smart contracts. In addition to these, it also intertwines another gigantic chain, i.e. Ethereum.


In the domain of blockchain and cryptocurrency, swapping is defined as the process of exchanging one crypto asset for another through a trading platform. This can be done through both centralized and decentralized exchanges and each has its own benefits and drawbacks, for example, varying trading volume across the marketplace. Through an intuitive swap interface, MDEX has simplified the swapping of assets. There are thousands of swapping pairs that are supported by MDEX.

MDEX Swapping Service

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Providing Liquidity

The liquidity maintained by the exchange is quite high and guaranteed. This guarantee implies that users can take their assets from the pool as they are always backed by real funds. The liquidity is provided through MDX-tokens as rewards. Since these rewards can be used as gas fees, the users are further encouraged to trade more and add to the liquidity.

Liquidity Mining

The MDX-tokens can be mined on the platform. The mining of these tokens has the potential to reduce the trading fee to zero as the number of mined tokens increase. The mining of these tokens adds them to the liquidity pool where takers can use these tokens for various purposes. Due to its highly advantageous mining and large pool size, MDEX has become one of the highest liquidity providers.


Unlike many exchanges, the platform has a ‘boardroom’ mechanism for swapping single tokens. The rewards are bought by the platform and then distributed. These rewards can bring long-term effects and benefits such as governance and ecological plus points. Some of the MDX rewards have reached a daily value ranging from $10,000 – $1,000,000+. One thing to remember is that the trading pairs are limited. The features of the boardroom are divided into three sections- rewards, repurchase & burn, and burning a black hole. The website has a section that shows each of these transactions and at what time & date they were carried out.

MDEX Boardroom Service

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Initial MDEX Offering (IMO)

The MDX can serve as a basis for the fundraising protocol known as IMO. Interested individuals can join the group by using their respective wallets. Users can raise their desired tokens and add them to the total amount of raised funds for the exchange. After entering the amount, the next step would be to click on ‘participate’. The initial release of IMO v1 (version 1) implemented the feature of basic swapping for the public.

MDEX Review: Pros and Cons

Pros Cons
MDEX has some of the largest liquidity pools in the cryptocurrency marketplace. The platform is not available in many regions around the world.
MDEX provides instant transfer of funds. It takes only a few seconds, while many of its competitors take several minutes to complete transfers. MDEX has a high Asian user base and the market conditions are more affected by those markets than others around the globe.
The fees charged by the platform are the lowest among exchanges, as low as 0% through MDX mining. Some browsers face visual glitches while loading the website. This might affect the overall experience of trading cryptos.
Various ongoing events and rewards bring in new customers to the long array of diverse and distinct features. Some characteristics of the platform might appear cumbersome and complicated to inexperienced individuals.

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Creating an Account With MDEX

The individuals who wish to trade using the MDEX platform need to have already supported top crypto wallets. The company has not mentioned a list of supported wallets on the platform but the commonly used wallets for Heco Chain such as MetaMask and Huobi Wallet can be used on the platform. These wallets might have respective usage fees associated with them. Huobi Wallet is available for both iOS and Android mobile devices. It also has multichain support for various assets.


The fees charged by the platform can be considered the lowest among all platforms (provided the users are willing to mine the exchange’s token). The average fee for transactions is about 0.3% with MDEX. However, as MDEX uses their token for a gas fee, the individuals can simply mine the token and repay it for payments. This implies that the net rate for transactions can be 0% and that is an advantage not many platforms can boast of.

The fee that is charged by the exchange is already included in the prices. Users who hold over $100 Million MDX do not have to pay any charges for using the MDEX platform.

MDEX Deposit and Withdrawal Method

MDEX is a truly decentralized exchange (DEX) it does not charge any withdrawal fee other than the network fee or gas fee. The withdrawal method is simple through the platform and the assets can be sent to the corresponding wallets but deposits have a different story. Deposit methods on MDEX do not include any of the traditional methods such as credit cards, debit cards, or wire transfers. Only the users who already possess some cryptocurrency can trade through the exchange and beginners are advised to use an entry-level exchange that supports fiat deposits.

MDEX Accepting Payment Method

The company has not revealed any plans to add to the payment methods on the platform for previous processes. The method of accepting payments made by the platform such as rewards or tokens can be deposited in the wallets after withdrawal.

MDEX Supported Currencies and Countries

The platform has been able to amass a total of more than 20 tokens and coins that can be traded through its exchange. With hundreds of trading pairs, MDEX is among the largest service providers with various assets. As a result of its decentralized nature, the platform has not been able to comply with different regulations and laws of nations around the world. This has led to a relatively shorter list of countries where the MDEX can be used by residents for all their trading needs. Since it is a DEX, MDEX does not store user assets. This is why it is hard to regulate them through traditional governance methods. MDEX can be used in the United States.

MDEX Supported Cryptos

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MDEX Token (MDX)

MDX is the platform’s own token and it comes with several advantages. MDX forms the basis of various procedures on the platform. This token can bring in voting rights, the power to govern the platform and make decisions in the future. MDEX also makes gas on the exchange and can be used to get free transactions by eliminating fees MDEX charges. Hundreds of millions of these tokens are in circulation with new ones being mined every day. The constant burning of these tokens maintains a relatively steady value and current number.

Future Plans of MDEX

The platform has ambitious plans to continue being the leader of DeFi and crypto trading. With future goals to integrate DEX, IMO, and DAO into a single DeFi ecosystem, the potential for MDEX is abundant with very few competitors operating at the same scale.

MDEX Reviews: Security

The underlying feature of MDEX’s security is the spread of its servers’ location, located in different parts of the world. With decreased downtimes and decentralized access, the MDEX reviews cover the strong line of defense it offers as DEXs come with an inherent safety net. Furthermore, the exchange itself does not store the assets. This makes MDEX a less enticing or worthy target for hackers. The users are also advised to consider the security of their respective wallets.

MDEX Customer Support

MDEX review provides you with details on how the support team of the brand can be reached through various mediums that include email and other digital channels. The company has wisely mentioned different divisions which can be reached through respective emails for any issues, queries, or suggestions. It also has a detailed Faq Section and other social media channels like Telegram, Twitter, Github, etc.

MDEX Review: Conclusion

The review concludes with its features, and this is a platform that can serve an experienced trader well through its long list of unique characteristics and advanced trading tools. MDEX is an easy recommendation for users who live in locations where the platform is available to use.


Where Can I Buy MDEX Crypto?

The crypto asset of MDEX is a token that is known as MDX. This token can be mined through the platform or won as a reward for making transactions through the exchange.

How Do I Get MDEX?

The individuals have to own crypto assets stored in one of the supported wallets before using MDEX. Once the supported wallet is selected, users can connect it with the exchange and start trading.

Is MDEX Reliable?

MDEX has been able to stay at the top of its game and is one of the largest cryptocurrency exchange platforms. As such it maintains a reliable reputation. MDEX seems more reliable than most of the other crypto trading platforms.

How Does MDEX Work?

MDEX acts as the medium between makers/takers and is a licensed cryptocurrency exchange. It uses its own token as the gas fee and offers incentives to individuals for adding to the platform’s liquidity.

Which Chains Are MDEX Currently Deployed on?

Post its expansion to the Binance Smart Chain in April 2021, MDEX supports Heco chain, Ethereum, and BSC chains.

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