MCDEX

Overview

MCDEX is a permissionless AMM-based decentralized perpetual swap protocol. MCDEX has ceased operation, and the remaining TVL on the platform is from user deposits.

Agent Information

Regulatory Considerations

Based on our analysis, MCDEX operates in the infrastructure sector with medium regulatory risk. Key considerations for APAC jurisdictions:

• Hong Kong: Generally lower regulatory burden for infrastructure services
• Singapore: May fall under PSA exemptions
• Japan: Depends on specific functionality