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Mettalex Quarterly Update Q2 2024 Achievements

Β· 6 min read

Hello Mettalex Community πŸ‘‹,

Thanks to your support, our journey has continued to progress this quarter, marked by significant milestones and growth.

We're excited to share these achievements and the steps we've taken to enhance our platform.

Mettalex Quarterly Update

Mettalex Secures $1 Million USD in FET Tokens​

We are thrilled to announce that Mettalex’s Community Funding Proposal for $1 million USD worth of FET from the Community Development Pool has successfully passed.

This significant milestone reflects strong support from the community. ❀️

How the Funds Will Be Used:​

  1. Ongoing Development: Accelerate platform enhancement.
  2. Marketing Initiatives: Strengthen community engagement.
  3. Liquidity Enhancement: Boost liquidity, stabilize MTLX token, and support new assets.

Read more: Mettalex Secures $1 Million USD in FET Tokens

Successful Launch of Private Beta Release​

Last quarter, one of our major achievements was the successful launch of the Mettalex platform's Private Beta. The response from our community has been incredibly positive, with more than 1,000 individuals expressing interest in participating. To date, we have granted access on a rolling basis to over 150 community members, along with 30+ members of our internal team and several institutional parties.

Successful Scaling of the Mettalex Platform​

We are excited to share that we have successfully scaled the Mettalex platform. After rigorous testing involving more than 5,000 agents, our platform has proven that it can handle extensive communications without any issues. This achievement assures us that we are ready to support a growing number of community members effectively. With this successful test, we are now confidently moving towards our public release, ready to welcome more users to experience our robust system.

Public Demos and Conference Engagements​

We have been actively participating in various industry conferences and delivering public demos of our platform. These events have been crucial for connecting with potential users, investors, and partners. They provide an opportunity to showcase the unique capabilities of Mettalex and to collect valuable feedback that informs further improvements and enhancements to our platform.

Checkout post from our BIZ dev Head: Here, Also see comments from key industry leaders talking about Mettalex

WIP: Cross Chain Trading​

We have developed and refined an architecture for cross-chain trading facilitated through an agent-based approach. This design significantly enhances connectivity across various blockchain ecosystems.

We recently conducted an in-depth internal review of our cross-chain trades architecture. This review led to brainstorming sessions where we focused on refining our strategy for messaging across different blockchain ecosystems. We also presented these developments to our leadership, whose feedback has been invaluable in enhancing our approach.

The detailed architecture will soon be available in our documentation for everyone to access and review.

Public Release of Middleware Architecture​

We are excited to announce the public release of our middleware architecture. This architecture is fundamental to enabling trades within our system and is truly the "secret sauce" behind our operations. To understand how it powers transactions and supports our platform’s functionality, check out the Mettalex Middleware Architecture here.

Flow Diagram

Discussion on commodity onboarding​

Our initial plan for commodity onboarding has reached a pivotal stage. Through dedicated internal discussions and dynamic brainstorming sessions, we've refined our approach, aligning it more closely with our strategic goals. The positive feedback and constructive insights from our leadership have been instrumental in shaping our path forward. We are enthusiastically implementing these strategic enhancements, which promise to optimize our processes and elevate the user experience.

Explainer Video Release​

We understand the importance of clear communication in bringing more users and community members on board with our project. That's why we've created the Mettalex Explainer Video. This 90-second video provides a straightforward and effective overview of what Mettalex is all about, highlighting our platform's key features and unique selling points. It’s designed to help anyone quickly understand how Mettalex is revolutionizing DeFi trading. If you’ve missed it, we highly encourage you to watch the video and see for yourself the value that Mettalex brings to the DeFi space.

Check it out here.

Mettalex GPT: V1​

Our initial version of Mettalex GPT is designed to help you navigate our documentation and website content, along with specific project details. This would be the first step towards a chat-based (prompt-based) trading solution.

After thorough internal testing, we are pleased to report that the system is nearly ready for release. However, in our commitment to excellence and innovation, we've decided to further enhance its capabilities before public deployment

Product Designer Onboarded​

We are pleased to announce the addition of a new Product Designer to our team, who is set to enhance the user experience and design across our platform. This move aligns with community feedback.

We recently held a Mettalex design workshop to integrate our designer's expertise immediately. Initially, he is focusing on developing brand guidelines that will shape the visual identity of Mettalex. Following this, he will work on improving the UI/UX for our DEX, website, and documentation.

Check it out here.

WIP: FCC token support​

We are currently enhancing the Mettalex platform to include support for Fetch Compute Credits (FCC) tokens. This integration will expand the variety of assets available for trading on our platform, offering greater versatility and choice to our users.

For more insights into FCC tokens and their significance, you can read about’s recent initiatives here.

WIP: Trading Graphs on Mettalex​

We are enhancing our Mettalex platform by adding trading graphs. These graphs will specifically cater to the needs of traders on our platform. By providing detailed visual representations of trading data and market trends, these graphs will empower our users to swiftly assess market conditions and make informed decisions. This improvement is designed to improve overall user experience, making it easier to track asset performance and market movements in real time.

AnyMtlx Bridge​

We have started work on the AnyMtlx Bridge. Our goal is to make it available to the community by Q3. While our internal team focuses on priority items, we have hired an external agency to help expedite the development process.

Lite Paper Publication: Coming Soon​

We are working on Lite Paper. This document outlines our vision, provides a detailed look at our technological framework, and lays out our future plans. The Lite Paper is designed to give our community and potential partners a clear understanding of what we aim to achieve and how we plan to get there. We look forward to sharing it with you soon and welcome your feedback as we continue our journey.

As we continue to innovate and expand, your involvement and feedback remain integral to our journey. We appreciate your continued support and enthusiasm for what we're building together at Mettalex. Stay connected with us for more updates and don't hesitate to reach out with your thoughts and questions. Together, we are shaping the future of decentralized trading. Thank you for being a vital part of our community. πŸ™

We're just getting started, and there's plenty more to come! πŸš€β€‹

Warm regards,

The Mettalex Team