Binance’s BNB token recently took a trip to the moon, exploding in price from around $30 USD at the start of the year to an all time high of $330 USD in February 2021 – a massive 11x increase. If you didn’t get in on time and missed out on these enormous profits, Mandala Token (MDX) is your second chance for going to the moon – don’t miss out this time!
Mandala is an exchange that was launched on the Binance Smart Chain in 2020 with the support of Binance. Having only recently launched, the Mandala Exchange has been flying under the radar while the team continues to make improvements and develop new features.
Mandala has their own exchange token – Mandala Token (MDX) – which is similar to Binance’s BNB token. Holders of this token enjoy various benefits while trading on Mandala, including reduced fees, access to trading bots, giveaways and more, making MDX a very desirable asset.
Because Mandala hasn’t begun their marketing campaign and the exchange hasn’t reached the mainstream yet, the price of the Mandala Token (MDX) is still low, making it the perfect time to get some MDX before it explodes.
Here are 6 reasons why you should invest in MDX now before it heads to the moon!
1. Mandala is supported by Binance
The first reason to invest in MDX is that the Mandala Exchange is hosted on the Binance Cloud and powered by the Binance Smart Chain. This means that the project has been vetted and is supported by Binance – one of the biggest cryptocurrency exchanges in the world.
Because the exchange is hosted on the Binance Smart Chain, Mandala shares an order book and shares trading volume with Binance. For example, if you make a trade on Mandala, you might buy coins that were listed on Binance. Similarly, if you make a trade on Binance, you might be receiving coins that were listed on Mandala.
This solves one of the major problems that is faced by new exchanges – low liquidity and trading volume. Since this is all shared with Binance, users of Mandala Exchange will enjoy massive liquidity and quick, easy trades.
Another advantage of being hosted on the Binance Smart Chain is increased security. Mandala uses the same wallets and security protocols as Binance, meaning that all funds are 100% safe. To steal funds from Mandala, somebody would have to hack into Binance, which would be near impossible!
2. MDX is not listed on Binance yet
Mandala was only recently launched in Q4 2020 and has since been ‘undercover’ working on improvements to the platform before beginning their marketing campaign to attract users. These improvements include mobile applications, margin trading, fiat on-ramps and more.
As Mandala has not started marketing the exchange yet, not many cryptocurrency investors are aware of the platform – and therefore not many people have had an opportunity to invest in MDX. Once the marketing campaign kicks off, it will naturally include the Mandala Token being listed on Binance, due to the partnership between Mandala and Binance.
A Binance listing is always a good thing for any cryptocurrency, as newly listed tokens have a tendency to explode in price due to the massive user base. For example, REEF was recently listed on Binance at the end of December 2020. REEF was sold for $0.00125 USD per token during its initial coin offering (ICO), but exploded in price up to $0.30 when it was first listed on Binance. REEF has stabilised at a price of $0.03-0.04 USD since being listed.
If you purchased REEF during the ICO and sold it for $0.30 USD when it was initially listed, you would have seen a ridiculous 240x return on your initial investment. If you were a bit slower to sell, a sale price of $0.03 USD would still have netted you a 24x return.
Based on this, MDX could easily rocket up 10x-100x or more in price after being listed on Binance!
3. MDX holders enjoy lower trading fees
Users who hold and ‘lock’ their MDX receive benefits in the form of reduced trading fees, which are shown in the table below.
|Tier||Locked Balance||Trading Fee|
Just like BNB, users of Mandala Exchange will want to purchase large amounts of MDX to reduce their trading fees and increase profits. A big advantage of Mandala over Binance is that it is much easier to achieve and maintain trading fee reductions. To maintain a low trading fee of only 0.05%, 320,000 MDX are required on Mandala, while 9,000 BNB AND a 30-day trading volume over 80,000 BTC are required on Binance!
To put that into context – 320,000 MDX is currently worth approximately $48,000 USD at a token price of $0.15 USD, while 9,000 BNB is currently worth about $2.5 million USD!
It is much cheaper to achieve a 0.05% trading fee on Mandala, and as a bonus, you don’t have to worry about trying to keep your trading volume up.
As more and more investors realise the savings available on Mandala, MDX demand will increase, more MDX will be locked up, and the price will explode. Think about this – if 320,000 MDX eventually became equal in price to 9,000 BNB, each MDX would be worth $7.8 USD – 52x the current price! Even then, Mandala would still be the preferred option for traders over Binance due to having no minimum trade volume requirements.
4. MDX has an incredibly low market cap
Because MDX isn’t well known yet, the token price and market cap is still incredibly small. The price of MDX has been hovering around $0.15 USD for the past month, but it probably won’t stay that way for long. With a total supply of 400 million tokens, the current market capitalisation is only about $60 million USD. To put this into perspective, the market cap for BNB, a token with almost the same functions as MDX, is over $36 billion USD!
If MDX could reach even 10% of BNB’s market cap, each token would be worth $9 USD – 60x the current price. This goal is well within reach – there is massive room for growth with MDX!
And this is not even taking into account the amount of MDX which has been locked for fee reduction, as discussed previously. Currently, over 100 million MDX tokens have been locked, reducing the circulating supply below 300 million!
5. There is a low supply of MDX compared to staking requirements
The Mandala token (MDX) has a maximum circulating supply of 400 million tokens. Although this is more than the current circulating supply of BNB (150 million tokens), the staking requirements for MDX are much higher.
For example, to achieve a 0.05% fee discount on Binance, users need to hold 9,000 BNB (0.006% of the circulating supply), while on Mandala a user would need to hold 320,000 MDX (0.08% of the circulating supply). The staking requirements on Mandala are 13 times higher than Binance – this would be the same as Binance having a circulating supply of only 30 million BNB. This means the price of MDX will increase much faster as traders try to lock in their fee discounts!
To look at it another way, Binance had over 15 million users at the end of 2019. If Mandala achieved even 1% of the user base Binance has (150,000 users), there would only be enough MDX for each user to purchase 2,667 tokens. The minimum holding requirement to receive a fee discount is 20,000 MDX. These tokens are quickly going to become a rare and valuable commodity as the exchange grows.
6. Mandala will list projects that aren’t available on Binance
Although Mandala shares an order book and trading volume with Binance, the exchange is also able to independently list coins that don’t appear on Binance. By listing new projects that aren’t available on mainstream exchanges, the Mandala Exchange will be able to attract new users that want to invest in these projects and fuel the continued growth of the platform.
With these innovative features and the volume, liquidity and security of Binance behind them, Mandala is shaping up to be an impressive exchange that will find its place in the cryptocurrency market. The success of Mandala will see MDX reach the moon!
Where can I get it?
You can find and invest in MDX on the Mandala Exchange website. If you already have cryptocurrency on an exchange such as Binance, you can withdraw this to your Mandala wallets and purchase MDX directly. Note that there is no withdrawal fee when transferring funds from Binance to Mandala, because Binance and Mandala share wallets!
If you don’t have any cryptocurrency yet, follow this guide: How to Buy Cryptocurrencies: The Easy Step-by-Step Guide for Beginners (2021 Guide). Once you’ve got your cryptocurrency, you can deposit it on Mandala and trade it for MDX!