[MDEX](https://coinmarketcap.com/exchanges/mdex) is a new decentralized trading protocol that launched in January 2021.
MDEX is an automated market making ([AMM](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm)) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the [Huobi Ecological Chain (HECO)](https://www.hecochain.com/en-us/), which gives it access to the liquidity of the Ethereum ecosystem.
A trading platform built [on top of](https://medium.com/coinmonks/company-watch-mdex-on-huobi-eco-chain-12b9efa421af) HECO, MDEX has an estimated cost for token swaps at $0.001 for each trade, with a transaction speed of three seconds.