MCDEX

Actually, The objective of this protocol is to permit anybody to make and trade in any perpetual market. In the first place, anybody can make their own perpetual market with the value feed of hidden asset and pick any ERC20 as collateral. Besides, they have planned an AMM for the perpetual market and this AMM additionally has better capital productivity. Also, AMM tackles the liquidity issue(s) - anybody can give liquidity to AMM by depositing assets in the pool and get sensible market making profit. Finally, anybody can trade perpetual swaps permissionlessly. Traders' assets are in the smart contract in a noncustodial way and the process of any transaction/exchange are directed totally on-chain..

Their mission at MCDEX is to make investing in DeFi more accessible by creating a secure and easy-to-use blockchain-based decentralized financial platform.

The financial engineering of McDex perpetual contract depends on the demonstrated plan of perpetual contracts in the CeFi space. The trading cost is delicately fixed to the file cost. The most extreme influence of the MCDEX perpetual contract is 10x. However, they give a working mechanism that can be totally decoupled from off-chain operations.

McDex perpetual contract presents an AMM (Automated Market Maker) to give on-chain liquidity and create their financing rate to guarantee total decentralization. The AMM goes about as an gateway to trade perpetual contracts with other smart contracts on-chain.

On their Whitepaper, there are some info about V1（MP futures, Market Protocol Futures), and V2 (On-chain AMM and Off-chain orderbook), which i trust are not that IMPORTANT anymore, since V3 is a totally different design.

The Mai Protocol V3 planned by MCDEX is an AMM-based decentralized perpetual swaps protocol. Perpetual trade is perhaps the most mainstream subsidiaries that has no lapse date, underpins margin trading, and has its price delicately fixed to their initial record price.