What Is Idex (IDEX)?
Idex claims to be the first hybrid liquidity DEX that combines an order book model with an automatic market maker. It blends the efficiency and functions of a standard order book model with the security and liquidity of an AMM. Idex takes an ingenious approach to decentralized exchanges by combining an off-chain trading engine with on-chain trade settlement. Users gain from that in several ways.First, this
method does away with failed trades and squandered cash on gas costs, making the trading experience more enjoyable and efficient. The instantaneous trade execution implies front-running or sandwich attacks are not possible and users can trade without waiting on previous trades to settle. As an outcome, more advanced order types and trading methods can be carried out since limitation orders are possible, opening up arbitrage chances with other exchanges.
Idex follows an ambitious roadmap that envisions a multi-chain future for the exchange, which presently operates on Ethereum and Binance Smart Chain. For the rest of 2021, it prepares to launch on 2nd layer options and Polkadot and implement a recommendation. For the future, Idex plans to implement take advantage of trading and launch on additional layer one and layer two blockchains.
Who Are the Creators of Idex?Idex was released by CEO and co-founder Alex Wearn and his brother and COO Phil Wearn. Alex Wearn previously worked for prominent companies such as Amazon, IBM, and Adobe and is an alumnus of Kellogg School of Management. Phil Wearn has an expert background in accounting with a degree in astronautical engineering and entrepreneurial experience. The management group is complemented by CTO Brian Yennie, a software engineer with over 20 years of experience. As per Linkedin, the present Idex team is 29 people strong. Idex released in 2017, with its 2.0 version introducing in fall 2020 after closing $2.5 million seed investment led by G1 Ventures and Borderless Capital, consisting of Collider Ventures, and Gnosis.
What Makes Idex Unique?Idex takes a distinct
technique to integrating an order book model with an automated market maker. To carry out trades, Idex utilizes an off-chain trading engine that matches the performance of centralized exchanges and assurances sequencing. Trades are processed in an off-chain order book. Only when a trade is matched and carried out, the deal is settled on-chain. In doing so, users gain from not needing to pay additional network expenses for putting and canceling orders. Additionally, placements are processed in real-time, enabling advanced trading and market-making methods like stop-loss, post-only and fill-or-kill. The automatic market maker assurances liquidity by showing
virtual limitation orders in the order book together with genuine limit orders to imagine AMM liquidity in the order book model. Orders are typically settled as AMM only or as a hybrid in between the AMM and limitation order liquidity.Idex uses clever agreements to decentralize fund custody and trade settlement.
To allow the order book design, the smart contract performs trades off-chain but trades are settled on-chain with a delay. The smart agreement serves as escrow and limits the motion of funds till the settlement is completed. Moreover, trades are sequenced, and a special function in the smart contract ensures funds can not be limited indefinitely. Additionally, the wise contract enforces ownership and authorization, suggesting users preserve custody and can make markets without additional infrastructure.Related Pages: Check out dYdX(DYDX)– one of the most popular decentralized exchanges.Check out Perpetual Protocol (PERP)– a decentralized exchange for trading futures.Read our deep dive about decentralized liquidity pools.Get the current crypto news and newest trading insights with the CoinMarketCap blog.How Many Idex(IDEX)
Coins Exist in Circulation?The total supply of IDEX is 1 billion IDEX. The token circulation is as follows:40%
-market maker rewards, marketing projects, and airdrops 10%-
IDEX members 25% -team 10 %-future worker token pool 10%-future usage 5% -business expenses Users can also run a light-weight node and stake their IDEX if they have a minimum of 10,000 IDEX. How Is the Idex Network Secured?IDEX is an ERC-20 token on Ethereum. The DEX has actually
been investigated by Quantstamp, a leader in blockchain security that
has actually dealt with trusted jobs such as Maker, Substance, and Avalanche. Idex has up until now
shown to measure up to its
high security requirements and
has faced no problems with hacker attacks. ERC-20 is a token basic most new tokens follow when releasing on
the Ethereum blockchain. Ethereum is among the most popular blockchains and the go-to solution for many decentralized applications and exchanges to introduce on. It is secured by a proof-of-work consensus mechanism that requires miners to mine brand-new Ether. A set of decentralized nodes verifies deals and secures the Ethereum blockchain.Can Idex Struck
$1? The innovative combination of an order book with an automatic market maker has actually recently seen the rate of IDEX blow up from under$0.10 to an all-time high of above$0.60. The price has considering that pulled away to$ 0.30 at the time of composing. Nevertheless, it seems entirely possible that with more launches on layer one and layer two blockchains and an improving item, Idex can continue its development path in