Mettalex Community Update | February 2022
Feb 18, 2022
- Mettalex – S&P Global Platts Partnership – Just over two weeks ago we announced that Mettalex struck a major data-licensing agreement with S&P Global Platts – the leading provider of industry-grade price data feeds for commodity markets. Having secured reliable price data, Mettalex will soon be able to launch several DeFi-first commodity markets, enablign trading and hedging. Find more details regarding the agreement here.
- Mettacast Event Series – Since we received several requests to showcase the benefits of longing or shorting commodity derivatives on the Mettalex DEX, we dedicated the latest Mettacast episode to that. We actually overdelivered. Apart from doing a demo of the latest UI/UX changes, Vlad from the Mettalex team presented the team’s main goals and priorities for 2022 and how we plan to achieve them. We also added time anchors for easy navigation for busy MettaTitans. Watch the recording on YouTube.
- MettaInsights Series – The MettaInsights blog post series is back and brings you informative reviews of trending traditional commodities. Our last two pieces were dedicated to Coal and to Zinc – commodity markets that both experienced significant price appreciation in 2021. Read the articles to find out whether new all-time-high prices are to be expected in 2022. Mettalex is considering listing these and other commodity derivatives on the DEX.
- Mettalex Research Series – We launched the Mettalex Research series with the aim of exploring new trends in DeFi and given the enormous interest around NFTs it was only natural for us to examine their role in decentralized finance. Our goal was to look beyond the hype and to see which protocols are collateralizing NFTs for use in borrowing/lending and yield farming. There are already a number of projects pushing the space forward, although the unique and scarce nature of NFTs makes them often illiquid and rather hard to evaluate.
There are several price discovery mechanisms in existence already and we reviewed the auction/sale and the fractionalization methods in Part I. The third most prominent model – the Appraisal one, and the protocols implementing it are listed in Part II of our research. Part III is coming soon with another batch of projects tokenizing real-world assets to be used as collateral in DeFi.
- Mettalex Newsletter – We are happy to announce that we started sending out a bi-weekly Mettalex Newsletter. If you haven’t subscribed to our mailing list yet you can do it both on our Website’s Community Page and on our Twitter profile. The next edition will be sent straight to your inboxes on February 24th.
- Update of Mettalex’s Pages on CoinGecko, CoinMarketCap, and Crypto.com – We are well aware of how many new users discover Mettalex for the first time through gateways into crypto like CoinGecko, CoinMarketCap, and Crypto.com. That is why we made sure that Mettalex’s pages there were up-to-date and as informative as possible. Check them out and tell a friend about Mettalex.
- Mettalex Website Update – The previously named “Partners and Collaborators” section on the homepage was updated to include S&P Global Platts’ logo. We also added a team section there and a What is Mettalex video intro. Do check them out! The “Buy MTLX Page” was revamped with a new price feed delivered by crypto.com. 😉
- MTLX Staking at OCP Farms – The MTLX-related yield farms launched in partnership with OpenDAO and OCP will come to an end on February 19th. You can find more information about them here. We are working toward initiating new MTLX staking opportunities.
- Polars Big Trading Competition Rewards – We are happy to announce that the winners of Polars Big Trading Competition have received their MTLX rewards. You can check the winning addresses here and the rewards distribution transaction here. We were happy to have sponsored such an initiative. Please note that the cut-off date for performing three actions on the BSC mainnet version of the Mettalex DEX was February 2, 2022. Actions performed after that date are not considered valid.
- User Feedback Form – Don’t forget that we continue to gather your feedback and suggestions on how to improve the user experience on Mettalex DEX. You can send your proposals via this form and we will do our best to implement all feasible ones as soon as possible.
Over the last couple of weeks, the Mettalex development team focused on UI/UX improvements, performance optimization, and research.
- Icons, spacing, and texts were aligned and restyled;
- Buttons got refactored to match different resolutions;
- Mint tab’s interface got distorted – now fixed;
- A bug preventing users to add 0 after decimals was identified and fixed;
- Bugs related to the correct information displayed on the P&L table were identified and addressed;
- Inconsistencies between the information displayed on BNBChain’s Mainnet and Testnet were found;
- Description of selected commodities was not available on the Dashboard.
The Dashboard loading time was decreased, whereas navigation across the web app is now possible even while the app is loading.
Research and development:
- The work on researching and strategizing the solving of the liquidity question continues. The dev team, and Matt McDonnell in particular, is performing risk analysis on several different approaches and drafting specifications for the smart contract work that will be required. We will share details as soon as we reach a conclusion about the best way forward.
- Following the provisioning of new price data feeds and instruments by our partners S&P Global Platts and Javelin, the development team is currently working on incorporating those sources into the DEX with a view on listing markets as soon as the liquidity question is addressed.
As a result of the dev team’s work, the BNB Chain mainnet implementation of the Mettalex DEX is more reliable and intuitive. More UI/UX upgrades are in the pipeline, focusing on the Liquidity page and the Settled Markets page.
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