MEKE – An On-Chain Perpetual Contract Platform, Unleashing a New Powerhouse in the Hundred Billion Dollar Market
MEKE is an emerging decentralized perpetual trading platform that has recently announced the launch of a new powerhouse in the hundred billion dollar market.
United States, 20th May 2023, King NewsWire – With the new developments, a dedicated assembly of tech aficionados, passionate about the cryptocurrency industry, remains steadfast in their pursuit of the ideal that “technology changes the world”. MEKE, a decentralized perpetual contract trading platform developed on Binance Smart Chain, is being crafted to fruition by a cohort of technologically zealous individuals from the United States.
Contrasting the conventional centralized perpetual contract trading platforms, MEKE, crafted atop smart contracts, possesses distinctive attributes like unprecedented transparency and immutable data—traits absent in centralized platforms. This realization embodies the vision of true fairness for traders and allows them to maintain sovereignty over their assets.
Compared to existing decentralized perpetual contract trading platforms, MEKE provides an enhanced trading experience and boasts a more advanced trading algorithm. Whether on a computer or a mobile wallet, you can conveniently conduct your contract trading with MEKE. At present, MEKE’s foundational build is nearly complete and will commence public beta testing in about a month. Participating in the beta test offers an opportunity to be airdropped with MEKE platform tokens.
Despite the overall crypto market’s lackluster performance over the past year, if you’re a pragmatic, feet-on-the-ground realist, you’ll notice that the user base of some decentralized applications hasn’t dwindled during the bear market. Instead, it has been steadily increasing. This trend is most prominent in the DeFi sector. Take Uniswap as an example; amidst market downturns, Uniswap’s user count has been on a consistent incline. The platform recently surpassed a record 90,000 daily active users, and its transaction volume has hit an astronomical $1.4 trillion. Concurrently, the decentralized perpetual contract market within the DeFi sector has been making quite a splash, with leading decentralized contract trading platforms generating transaction fees exceeding hundreds of millions of dollars.
These phenomena unequivocally testify to a compelling truth: “Even amidst tepid market conditions, applications genuinely capable of revolutionizing the industry continue to flourish”. As soon as the climate improves, these transformative applications will reach unprecedented heights, and their value will naturally surge.
Decentralized contract exchanges, in particular, stand as one of the most promising and profitable arenas within the industry. According to professional platform statistics, the current daily contract trading volume reaches hundreds of billions of dollars, dwarfing spot trading volume by more than twice. The entire market generates profits in the billions. Yet, in this expansive market, the leading players contradict the very spirit of blockchain: centralized contract exchanges. In this vast arena, with daily trading volumes between $100 billion to $2 trillion, decentralized contracts only account for $20 billion to $40 billion, a mere 2% of the total market.
This signifies an immense, untapped market for decentralized contract exchanges. MEKE, on the one hand, aims to address the plethora of challenges currently faced by contract traders. On the other hand, it recognizes the vast potential of the entire market. With the dedicated efforts of numerous technologists and financial industry professionals, MEKE has developed a brand-new, user-friendly decentralized contract trading platform.
MEKE’s raison d’être is to furnish cryptocurrency enthusiasts with an effective, secure, equitable, and transparent platform for decentralized perpetual contract trading.
In terms of underlying public blockchain selection, MEKE opts for Binance Smart Chain (BSC), backed by the formidable reputation of Binance. All of MEKE’s critical functionalities are implemented through Binance Smart Contracts, ensuring an open and transparent process immune to fraudulent manipulation. Every successful transaction can be traced on the BSC. Throughout the process, user assets remain under the control of the account holder, secured by their private key, and inaccessible to others.
Furthermore, MEKE is primed to initiate its public beta testing soon, inviting any and all cryptocurrency enthusiasts to identify potential vulnerabilities.
For the sake of user safety, the platform exclusively supports mainstream cryptocurrency contract trading, capping the maximum leverage at 25x. For professional traders, this leverage ratio is more than adequate to satisfy their trading needs. Going forward, the platform may adjust the leverage based on market response.
MEKE embraces a cross-platform strategy, supporting both desktop and mainstream mobile wallet applications. With its user-friendly interface, traders can embark on their trading journey anytime, anywhere.
In the face of daily trading volumes in the hundreds of billions of dollars, the advent of MEKE undoubtedly adds a cutting-edge tool to the industry’s arsenal. MEKE addresses the fervent demand from tens of thousands of traders for open and transparent transactions, eliminates concerns about market manipulation by trading platforms, and assuages worries about the withdrawal of profits.
MEKE also boasts an expansive market. Even with just 1% of the industry’s market share, MEKE’s daily income would be substantial. Indeed, as the market’s familiarity with crypto products grows, decentralized perpetual contract platforms are gradually encroaching upon the centralized market. Furthermore, the derivatives market itself is continuously expanding, which suggests a highly promising future for MEKE.
The cryptocurrency industry is an emerging and promising sector, often referred to as the next wave of the Internet technology revolution. The industry is currently in its nascent stage, ripe for quality applications. Any project that can address current market issues is poised to be the market’s darling. MEKE was born out of this objective – to alleviate the pain points of contract traders. After the team’s relentless efforts, MEKE has completed 99% of its development and is set to launch its public beta in about a month. Beta participants even stand a chance to receive airdrop rewards from MEKE. For a project that stands at the forefront of the zeitgeist and genuinely solves industry problems, the public beta promises to be a bustling event.
Official MEKE Website: https://www.meke.io/#/
Organization: MEKE CHAIN FOUNDATION
Contact Person: FU YANFANG
Email: [email protected]
Country: United States
Release Id: 2005233634
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Money Faction journalist was involved in the writing and production of this article.