New crypto ‘MATE’ offers guaranteed limit orders on DEXs. It has already surged 50x
3 min readMATE is a decentralized exchange (DEX) that enables traders to maximize their returns through guaranteed limit orders with zero slippage.
It was launched on the Binance Smart Chain in a successful Fair Launch on August 16. And as a fully community-owned DEX, the platform itself will be governed by its eponymous native token.
The project has already witnessed an incredible price growth of 5000 percent since its inception while concurrently being listed on Biloxi. Furthermore, the persistent buzz helped it secure almost $1.5 million in total value within 24 hours after its debut. Moreover, the liquidity is entirely made up of its current 3,600 community members, preserving the emphasis on community involvement.
The check MATE
So, what distinguishes Mate from the rest of the pack? Limit orders with an expiry period are one of MATE’s main features, allowing users to exchange their BEP20 tokens at their desired price with 0% slippage, should the market price ever equal it. Executor nodes continually monitor all limit orders on MATE, and once the limit order’s stated criteria are satisfied, the node immediately executes it.
MATE eliminates unpredictably high price slippage in this way, giving users a complete CEX-level trading experience while retaining all of the benefits of a DEX.
Instead of using launchpads and unfair presales, MATE was released completely fairly and with the community in mind. Because of the Fair Launch procedure, there were no pre-mined MATE coins in circulation. You could only obtain mate by staking ORK/BNB-USDT LP tokens at first.
This is still an option, but if you don’t want to farm, then PancakeSwap is the best way to obtain MATE. Users can then farm MATE by staking the MATE/BNB pair LP token once they get it.
MATE is a BEP-20 token with a hard limit of 100,000,000 MATE on the tokenomics side. 60% of MATE (60,000,000 tokens) is allocated to reward users for liquidity pool mining and staking, while the remaining supply will be used to fund the team, MATE treasury, marketing initiatives, etc. To learn more about MATE’s tokenomics, you can visit the project’s gitbook.
MATE’s concept originated on the governance forum of Orakuru, a fully community-owned and operated oracle on Binance Smart Chain.
“MATE was born as a proposal on the Orakuru governance forum and was quickly approved by the community,” noted Spa, Marketing & Ops specialist at Orakuru.
“Indeed, as active BSC users ourselves, we really missed having a solid DEX that would allow us to set limit orders with zero slippage,” explained Gon, the Lead Developer of MATE. They added:
“So instead of waiting for someone to come up with it, our community decided to take the matter in their own hands.”
The team behind MATE DEX consists of industrial figureheads who deliberately chose to remain anonymous, they have first-hand experience creating interfaces for some of the world’s most-known startups, including Airbnb. It aims to provide the best user experience among all DEXes.
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