Definition of some key terms in the MCDEX ecosystem
Mai Protocol v3 - Suite of smart contracts that create a permissionless automated market maker (AMM) for perpetual swaps.
MCDEX - Platform and an ecosystem with DeFi products that are built on top of it. Mai Protocol v3 will be one of the many DeFi products that will be built on MCDEX.
MCDEX DAO - Decentralized autonomous organization (DAO) is an organization that is transparent and governs the entire MCDEX ecosystem with the use of the MCDEX native token, MCB.
Introduction of Mai Protocol v3
Mai Protocol v3 is a fully permissionless protocol for decentralized perpetual swaps. It is designed to prioritize censorship resistance, security, self-custody, and to function without any trusted intermediaries.
1. High Capital Efficiency
The innovation of MCDEX AMM is highly capital efficient, thus providing lower slippage and costs for traders. Within the same liquidity in the pool, MCDEX AMM is over 1000x more efficient than traditional XYK AMM.
2. Fully Permissionless
MCDEX protocol allows anyone to create any market, which dramatically increases market diversification.
MCDEX protocol is an infrastructure protocol. Based on MCDEX, developers can build Ecos-system projects like stable coin protocol, basis trading protocol, etc.