Hello MARKET Protocol community! We hope you’ve had a chance to read our whitepaper and watch our explainer video. We’ve written extensively about the goal of MARKET Protocol and the many valuable use cases of derivatives, so today we are thrilled to announce the beta release of MPX, our decentralized exchange powered by MARKET Protocol. We encourage users of all skill levels to explore MPX and provide feedback. Experience for yourself the power of derivatives on the Ethereum blockchain!

How to start trading on MPX?

This release of MPX provides a simulated trading experience on Ethereum’s Rinkeby testnet, allowing you to trade MARKET Protocol contracts against a bot. To try MPX, you must have the MetaMask extension installed in your browser. You can learn more and install MetaMask here.

With MetaMask installed and set up, you have everything you need to get started. Navigate to MPX and switch MetaMask to the Rinkeby Test Network. Next, you will need some testnet ETH and collateral. Just follow the prompts or check out this explainer demo to watch our CTO Phil Elsasser walk through the necessary steps to execute your first trade on MPX:

MPX will give you a preview of MARKET Protocol and the benefits of derivatives on the Ethereum blockchain. With MPX, you can experience the flexibility of the protocol by trading simulated contracts to go long or short crypto assets and even off-chain assets. You can also experience the safety and security of the protocol first hand, because with MPX your risk is limited to the maximum downside of your position. Unlike other exchanges, you will never be exposed to auto-deleveraging, socialized losses, or theft by hackers.

MPX highlights a number of features and capabilities made possible by MARKET Protocol:

Trade new relationships not found anywhere else, like S&P 500/USDT, GOLD/USDT, AAPL/USDT and OIL/USDT

Short sell assets without sourcing or borrowing them

Use leverage safely, without margin calls or forced liquidations

Trade without counterparty risk, since positions are collateralized on the blockchain

At MARKET Protocol, we believe that anyone should be able to easily trade the price of anything. We’ve worked hard to realize this vision by building the protocol needed to power a derivatives marketplace on the Ethereum blockchain. Imagine for a moment how different the last 12 months might have been with unlimited trading options! You could have protected yourself from price declines by hedging the value of your crypto or by diversifying your holdings through price exposure to real-world assets. You might have even shorted a crypto to profit from its fall in value!

We created MARKET Protocol to give you these choices — to empower you to protect yourself from price volatility or else profit from it. MARKET Protocol is a secure, flexible, and open-source foundation for decentralized derivatives trading. With this protocol, you will be able to buy or sell the price of any asset, whether to hedge or speculate, all from one wallet. And you will always trade without centralized custody or counterparty risk since all positions are handled by smart contracts. Together these capabilities make for a more flexible, safe, and secure trading experience.

MPX is the first of many applications that will be built on MARKET Protocol and just the tip of the iceberg when it comes to the potential that derivatives bring to crypto. We encourage traders of all skill levels to try MPX today to discover the future of trading. We look forward to your valued feedback; this is just the beginning! To get started, visit https://mpexchange.io.