Mettalex, a DEX centered on token-based commodities buying and selling, introduced as we speak the launch of its decentralized commodities trade on Binance Sensible Chain and Ethereum’s Kovan testnet; with 20 accessible markets for merchants to take tokenized lengthy or brief positions in utilizing USDT.
Javelin World Commodities, a number one buying and selling agency of bulk commodities, shall be among the many first shoppers to make use of Mettalex’s platform to handle danger on commodities publicity.
“We perceive firsthand the worth that Mettalex can present to derivatives buying and selling in commodities. Mettalex gives a platform to convey transparency and liquidity to those markets which can be utilized by contributors throughout the commodity worth chain.”
– Peter Bradley, CEO of Javelin World Commodities
On the Mettalex DEX, merchants can use stablecoin collateral to open and shut positions throughout eleven commodity markets, seven unfold markets, Foreign exchange markets, and the highest 100 publicly traded corporations from the Monetary Occasions Inventory Change (FTSE) index.
With data-feeds powered by Chainlink and Fetch.ai oracles along with the Davis Index, Mettalex ensures that its place tokens observe essentially the most correct reference value in an extended (L) or brief (S) publicity at settlement.
“The power to hedge the quite a few recyclables grades and specialty completed merchandise that make for a lot of the infrastructure round us has lengthy been a necessity in our trade. The present system gives the trade with lower than a handful of devices and the idea danger and prices are simply unworkable for many corporations. Mettalex is lastly answering the decision for a decentralized trade that may record any commodity. We look ahead to offering our value benchmarks on the Mettalex platform to offer the manufacturing, demolition, and alloy producing sectors the exact hedging devices they want.”
– Sean Davidson, CEO of Davis Index
All trades on Mettalex occur inside a predetermined value band based mostly on the asset’s historic volatility. The band permits getting publicity at solely a fraction of the price of the traded asset, successfully enabling leverage. In contrast to different exchanges, on Mettalex, customers can create the markets they want.
The prerequisite is a dependable oracle that the platform plans to make totally customizable. At current, the reference asset value is periodically fed into the system from a number of reference exchanges, together with 1,400 proprietary value indexes for free-market recyclable metals and secondary alloys shall be made accessible to commodity market contributors for the primary time.
“A important byproduct of the Mettalex platform is the transparency it would convey to the pricing information all over the world’s most dear commodities. By making this kind of market intelligence and the power to commerce extra readily accessible, Mettalex goals to convey one of many oldest types of commerce in human historical past into the current century. With Mettalex we goal to align the incentives of merchants, stablecoin liquidity suppliers, and bodily commodity holders to create a one-of-the-kind instrument that’s accessible to anybody on this planet, 24/7/365.”
– Mettalex CEO, Humayun Sheikh
The markets now on dex.mettalex.com embody:
- Commodities (butter, metal, copper, iron, aluminum, gold, silver, zinc)
- The Monetary Occasions Inventory Change (FTSE) index
- Artificial CeFi/DeFi index
- Artificial AAVE/COMP and LINK/BAND
- Crypto and conventional baskets like BTC/TSLA and BTC/XAU