Commodity Derivatives Exchange Mettalex Launches Early Access Program

Commodity derivatives exchange Mettalex has announced the launch of its Early Access Program, allowing users access to a $2.5 trillion commodities market.

Mettalex is a decentralized commodities derivatives trading platform powered by Fetch.ai, a Cambridge-based artificial intelligence lab. Founded with the mission to bring the $2.5 trillion commodities market on-chain, Mettalex provides the technology needed to scale the DeFi ecosystem to meet the needs of today’s global financial markets.

As a part of its Early Access Program, Mettalex will enable users to take leveraged long or short positions in eighteen commodities and spreads, including steel, Brent crude oil, coal, zinc, copper, iron ore, and lithium carbonate. During the second phase of the Program, participants will trade commodity derivatives and compete in a simulated trading competition. The primary goal of the Early Access Program is to generate essential feedback regarding the UX/UI and functionality of the Mettalex DEX and prepare the platform for launch. More than 6000 MTLX tokens have been dedicated to rewards. 20 market participants have been recruited to trial the exchange technology.

Over time, new commodities markets compute cycle price, gas costs, cloud compute and other new commodities markets will be added to the exchange. At the time of official launch, projected for January 2021, Mettalex will be open worldwide via their decentralized exchange at mettalex.com.

“A critical byproduct of the Mettalex platform is the transparency it will bring to the pricing data around the world’s most valuable commodities,” said Humayun Sheikh, CEO & Founder of Fetch.ai and Mettalex. “By making this type of market intelligence and the ability to trade more readily accessible, Mettalex aims to bring one of the oldest forms of trade in human history into the present century.”