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xExchange (formerly Maiar Decentralized Exchange) is a decentralized exchange that uses an AMM model. It was designed to serve as the first trading venue for the Elrond blockchain (now MultiversX), so it operates on the Elrond Network and was created by the same development team. Through the platform, users can trade, buy, and sell cryptocurrencies. 

The platform’s native token is MEX. MEX has a total supply of 8045920000000 and is used to cover transaction fees on the network. It is also distributed as a reward to users who supply liquidity to the protocol’s pools.

What are xExchange key features and how does it work?

xExchange is built around the AMM model. It includes certain adjustments aimed at enhancing the current approach and taking advantage of the broader Elrond ecosystem. The exchange supports peer-2-peer trading through its peer-to-contract feature. Token releases are managed by smart contracts, allowing the exchange to function without an order book. Swaps complete immediately and are carried out using assets held in liquidity pools. By contributing to liquidity pools, users can also earn rewards, including a portion of transaction fees. Asset pricing in each pool is calculated with the algorithm “x*y=k”. In this formula, x and y represent two different assets, while k is a constant value.

When xExchange users trade or swap tokens on the platform, a 0.3% fee applies. Of this, 0.25% is allocated and shared among liquidity providers as an incentive for supplying liquidity. The remaining 0.05% is handled by the contract to purchase MEX from the EGLD/MEX pool and then burn it.

Where can you buy MEX?

MEX can be traded on the following CEXs and DEXs, which are listed here. The most frequently used exchanges with the highest liquidity are xExchange and Bitmart. The price of MEX may differ by exchange and by prevailing market conditions. For the latest and historical MEX market prices, please check the price charts on this page.