Mettalex (http://www.mettalex.com), a decentralized token-based derivatives exchange focused on commodity markets announced today the launch of its Early Access Program which will allow select users access to the $2.5 trillion commodities market.
Using the Mettalex DEX, participants can get leveraged exposure to commodity markets currently unavailable in the crypto space, allowing them to either hedge in a cost and capital-efficient way or speculate. With the goal of limiting risk for users, Mettalex allows trading to happen within predetermined price bands and settles all positions automatically if the upper or lower band cap is reached. Featuring an advanced liquidity balancing mechanism, Mettalex limits liquidity providers’ exposure to one of the biggest risks in the decentralized finance space - impermanent loss.
Trading on Mettalex will be powered by Fetch.ai’s autonomous market makers allowing market participants to enter or exit a position at any point without having to find a counterparty. The autonomous market maker uses a liquidity sensitive algorithm with bounded loss to manage market risk. The AMM architecture also allows plugging in different AMM strategies.
As a part of its Early Access Program, Mettalex will enable users to take leveraged long or short positions in eighteen commodities and spreads, including steel, Brent crude oil, coal, zinc, copper, iron ore, and lithium carbonate. During the second phase of the Program, participants will trade commodity derivatives and compete in a simulated trading competition. The primary goal of the Early Access Program is to generate essential feedback regarding the UX/UI and functionality of the Mettalex DEX and prepare the platform for launch. More than 6000 MTLX tokens have been dedicated to rewards. 20 market participants have been recruited to trial the exchange technology
Over time, new commodities markets compute cycle price, gas costs, cloud compute and other new commodities markets will be added to the exchange. At the time of official launch, projected for January 2021, Mettalex will be open worldwide via their decentralized exchange at mettalex.com.
“A critical byproduct of the Mettalex platform is the transparency it will bring to the pricing data around the world’s most valuable commodities,” explains Sheikh. “By making this type of market intelligence and the ability to trade more readily accessible, Mettalex aims to bring one of the oldest forms of trade in human history into the present century.”
For more information or to sign-up for early access to Mettalex please access the Early Access Program-dedicated blog post.
