Welcome to the latest community update from Mettalex. In this issue we will share the progress and developments of this decentralized commodities exchange as it works towards revolutionizing the DeFi space. Let's dive into the key highlights.
Project Background: Mettalex started as a decentralized commodities exchange on Binance Smart Chain (BSC) and Ethereum (ETH), under the Fetch.ai umbrella. Since then it has become an independent project with its own dedicated team, though it still enjoys some support from Fetch.ai. This is an exciting time for Mettalex as it builds towards launch on the Fetch.ai Mainnet. Launching on Fetch.ai requires a rebuild which will include brand-new functionalities like agent-based trading.
Agent-based trading: Mettalex will be integrating new agent-based trading technology developed by Fetch.ai. The technology leverages intelligent agent interactions to optimize DeFi trade execution. AI agent integration will also address current concerns regarding central points of failure in smart contract-based DeFi protocols by favoring a true peer to peer connection. The decentralized and distributed nature of agent-based trading challenges the extent to which many DeFi exchanges are in fact practicing decentralization. With ai-based trading integration Mettalex expects to create a more robust and secure platform fit for the future.
Regulation: To date Mettalex is not registered as a commodities trading platform however, the Mettalex team recognize the importance of regulatory compliance and are actively seeking regulatory clarity. They are exploring options to potentially register Mettalex with regulators in the UK, Dubai, and Singapore, among others. This process alone can take some time so do bear with them at this time.
The Road Ahead: The team remains dedicated to building truly disruptive technology and appreciates the patience and support of the community as they strive to deliver a decentralized trading solution that will transform the commodities industry and DeFi as a whole. Mettalex has made a commitment to fairness and transparency which remains steadfast, and consequently, no changes have been made to its tokenomics. Additionally, the team has not sold any of their tokens, nor have any new token sales occurred during this time.
Going forward the Mettalex team plans on being consistent with further updates and allowing the community to feel more involved with updates. Stay tuned here for further updates or listen back to the recent Twitter Spaces session with the CEO and Founder of Mettalex, Humayun Sheikh, here.
