First Phase of CoinWind’s Initial DEX Offering on MDEX.COM Sells Out in Ten Seconds

Singapore, 26 May, 2021 — CoinWind, a DeFi (decentralized finance) smart yield aggregator launched its $COW token today. In an initial DEX offering (IDO) launched on three platforms — MDEX, WeStarter and Helmet, the yield aggregator offered 3.24 million $COW tokens for sale.The listing was a huge success, with CoinWind tweeting to its 19K followers that the first phase of the IDO on MDEX (termed IMO — ‘Initial MDEX Offering’) lasted “only 10 seconds”.The bulk of the tokens, 3 million $COW tokens, were made available on the MDEX platform. MDEX.COM is a leading DEX (decentralized exchange) that has captured major market share in recent months. The DEX uses a unique strategy of dual mining, combining liquidity and transaction mining, which has led to explosive growth in its transaction volumes.The complete 3 million $COW tokens were scooped up on MDEX for the value of USD 1.5 million which was collected in the various token currencies (MDX, HT and BNB). A total of 8,874 wallet addresses participated.Based on the HECO (Huobi Eco-Chain) and BSC (Binance Smart Chain) networks, as of this writing, the $COW token sale is reported to have amassed 64.63 million MDX on HECO, 47.85 million MDX on BSC, 9.25 million on the MDX/HT token pair liquidity pool and 1.14 million on the MDX/BNB token pair liquidity pool.DeFi’s Explosive GrowthThe DeFi market has exploded in popularity in 2021, growing from around USD 3 billion in total value locked to USD 80 billion in total value locked in 12 months. While the market has grown, some users have either struggled to get the best returns on their investments, or have been wary of entering the market because of a perception of increased risk in DeFi investing, which they believe could lead to a loss in capital.A spokesperson for CoinWind, the team…