Mettalex is writing DeFi history by launching the world’s first decentralized derivatives contracts for recycled steel in collaboration with the top metal market intelligence provider Davis Index.
Markets for bulk exports of recycled steel shipped to Turkey and for containerized shredded scrap shipped to India will be available for trading on Mettalex starting May 31st.
With the goal to showcase the unique trading experience and trading opportunities that the Mettalex decentralized exchange offers, we are announcing a trader-focused bounty.
It is dedicated to Mettalex traders and users who refer traders.
Registration is open!
We are thrilled to announce that Mettalex is joining the Open DeFi Hackathon with the goal to make the DEX available on four additional blockchain platforms.
The hackathon start date is May 3, 2021.
Developers are welcome to sign up!
Access traditional markets with minimal friction on taking positions and reduced requirements for margin. We combine the convenience of tokens with market sizes of the commodities world.
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.
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.