Mettalex Community Update | January 2022

Jan 13, 2022

Marketing Update

Community feedback – The Mettalex team is grateful to our community members for the valuable feedback and improvement suggestions they sent via the Feedback and Feature Request Form. Some of the proposals were already in our pipeline whereas others surprised us and got us brainstorming. We dedicated the last few weeks to development, performance optimization, and design and UX/UI refinements (see below) in accordance with a number of your suggestions. Here’s an overview of the most common submissions and what is the stage of their implementation:

Marketing-related feedback:

  • Produce more tutorials and video guides on what Mettalex is and how to use it – We are on it and will soon release more video guides. In the meantime, check out this presentation of the DEX and how to start trading commodity derivatives.
  • Host a Mettacast on how trading on Mettalex differs from conventional trading of crypto and commodity assets. What are the benefits of longing or shorting commodity derivatives using crypto? – We will dedicate the next Mettacast to the benefits of Mettalex trading.

DEX features-related feedback:

  • Add more commodity markets and crypto-commodity spreads – We are working on it and we plan on sharing exciting news in the coming weeks.
  • Add more collateral assets, especially the MTLX token – This is a priority for the team as well and, as we have announced before, we are committed to integrating MTLX as collateral type. Expect more info soon.
  • Add a Fiat Gateway / Swap service to the DEX – This is a priority for the team and we spent the last few of months looking for the most suitable fiat on- and off-ramp solution. Our conclusion is that there isn’t one. The right solution might have to be composed of several services. We are currently exploring possible user-flows.

UX/UI-related feedback:

  • Launch two separate versions of the DEX – one focused on more experienced / institutional traders, and the other – simplified enough for beginners – We are considering this approach from the perspective of users who are new to DeFi and crypto and users who are already engaging with DeFi apps. Simplification will certainly be needed for the former type.
  • Create a Landing Page of the DEX that maps different commodity markets and direct links to the main steps a user may need to perform – Done (see below).
  • Make the DEX faster and more responsive – Done (see below).
  • Create a Day / Light mode of the DEX and/or add different color combinations – Currently, we don’t have such plans but we will consider it.

Development Update

The latest Mettalex DEX release is focused on significantly improving the user experience by introducing numerous updates. More enhancements will be introduced in the next weeks, including functionality improvements for liquidity providers and traders (settlement process).

UI/UX improvements:

  • The Landing Page of the DEX is now the Dashboard.
  • The Dashboard elements are rearranged and redesigned so as to enhance visualization and accessibility. “Trade Now” and “Supply Liquidity” buttons have been made more accessible/visible.
  • The collateral selection drop down has been moved next to the “connect wallet” button in the header.
  • Text within the boxes has been updated to become more clear and familiar to the user.
  • The circular graphs for average APY and total MTLX/Day were replaced with solid text in large letters.
  • The application header got redesigned and made responsive so as to fit a wider range of screen sizes.
  • The edges of the page elements have been rounded for a more modern look.

  • The Trade page’s graph header component got redesigned for better readability.
  • The P&L Table was moved to a more prominent location – above the price chart.
  • The columns of the P&L table have been reordered and a new column has been added – “Total Spent (BUSD)” – signifying the total amount of BUSD the user has spent to open the position.
  • The mint and redeem functions dedicated to market makers were hidden behind a new “Advanced” tab.

  • The Deposit/Withdraw MTLX Rewards component on the Liquidity Page got redesigned and put on top for easier access.

  • Fonts and style were adjusted for more clarity and readability.
  • Responsive behavior has been considered for multiple screen resolutions.

Functionality improvements:

  • The pop-up window asking users to connect a wallet (or continue without a wallet) at dApp launch has been removed. Users are now able to explore the DEX without connecting a Web 3 wallet by default.
  • The “connect wallet” button has been integrated into the Header of the dApp, whereas once connected to a wallet the session is maintained.
  • The URLs of the Liquidity and Trade pages have been updated.

Performance improvements:

  • The DEX performance in terms of loading time, including time needed for tablet resolutions, has been significantly improved. The load time of the Trade page (finishing all network calls) has been reduced to 6 seconds. (!)
  • A new UI Component displaying Wallet Values on both the Trade and the Liquidity pages has been added. It is much less complex compared to previous iterations.

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