Coin-related
Price calculator
Price history
Price prediction
Technical analysis
Coin buying guide
Crypto category
Profit calculator
What is IDEX (IDEX)?
IDEX basic info
What is Idex (IDEX)?
Idex is a decentralized exchange that combines an order book model with an automated market maker. By doing so, it can offer users the performance and features of a traditional order book model while maintaining the security and liquidity of an AMM. One unique aspect of Idex is that it uses an off-XCNUSDT">chain trading engine and on-chain trade settlement to create a more efficient trading experience. This approach eliminates failed trades and wasted gas fees, and front-running and sandwich attacks are not possible. This allows for more advanced order types and trading strategies. Currently, Idex runs on Ethereum and Binance Smart Chain, but it has plans to launch on second-layer solutions, Polkadot, and other blockchains in the future. Additionally, Idex plans to implement leverage trading and a referral program.
Who are the Founders of Idex (IDEX)?
The creators of Idex are CEO Alex Wearn and COO Phil Wearn, who bring a wealth of experience to the table. Alex Wearn has worked for prestigious companies such as Amazon, IBM, and Adobe and has an MBA from Kellogg School of Management. Phil Wearn has a background in accounting and astronautical engineering, as well as entrepreneurial experience. The team is rounded out by CTO Brian Yennie, a software engineer with over two decades of experience. The current Idex team consists of 29 individuals, according to their LinkedIn page. The exchange was launched in 2017, and its 2.0 version was released in the fall of 2020 after securing $2.5 million in seed funding from investors like G1 Ventures, Borderless Capital, Collider Ventures, and Gnosis.
What makes Idex Unique?
Idex has a unique approach to trading, using a combination of an order book model and an automated market maker. Its off-chain trading engine ensures the sequencing and performance of centralized exchanges, while trades are processed in an off-chain order book. This means users don't have to pay additional network costs for placing and canceling orders, and placements are processed in real-time, enabling more advanced trading and market-making strategies. The automated market maker guarantees liquidity by displaying virtual limit orders in the order book, and Idex uses smart contracts to decentralize fund custody and trade settlement. Trades are sequenced and settled on-chain with a delay, and users maintain custody and can make markets without additional infrastructure.
How is the Idex Network Secured?
Idex is an ERC-20 token on Ethereum, a popular blockchain that many decentralized applications and exchanges launch on. The DEX has undergone an audit by Quantstamp, a trusted name in blockchain security with experience working on projects such as Maker, Compound, and Avalanche. Idex has met high security standards and has not experienced any issues with cyber attacks so far. Ethereum is secured by a proof-of-stake consensus mechanism that requires validators to stake a certain amount of cryptocurrency to validate the network. Decentralized nodes validate transactions and ensure the security of the Ethereum blockchain.
IDEX supply and tokenomics
Uniqueness
Idex takes a unique approach to combining an order book model with an automated market maker. To execute trades, Idex uses an off-chain trading engine that matches the performance of centralized exchanges and guarantees sequencing. Trades are processed in an off-chain order book. Only when a trade is matched and executed, the transaction is settled on-chain.
In doing so, users benefit from not having to pay additional network costs for placing and canceling orders. Furthermore, placements are processed in real-time, enabling more advanced trading and market-making strategies like stop-loss, post-only and fill-or-kill.
The automated market maker guarantees liquidity by displaying virtual limit orders in the order book together with real limit orders to visualize AMM liquidity in the order book model. Orders are usually settled as AMM only or as a hybrid between the AMM and limit order liquidity.
Idex uses smart contracts to decentralize fund custody and trade settlement. To enable the order book model, the smart contract executes trades off-chain but trades are settled on-chain with a delay. The smart contract acts as escrow and restricts the movement of funds until the settlement is finished. Furthermore, trades are sequenced, and a special function in the smart contract ensures funds cannot be restricted indefinitely. Moreover, the smart contract enforces ownership and authorization, meaning users maintain custody and can make markets without additional infrastructure.
Token utility
IDEX ($IDEX) is a DEX on Ethereum that combines an order book model with an automated market maker. The platform combines the advantage of centralized and decentralized exchanges, with the performance and features of a traditional order book and the security and liquidity of an AMM. IDEX allows traders to get the best spreads, avoid failed transactions, and easily provide liquidity, all with the power of real limit and stop-loss orders.
Links
What is the development prospect and future value of IDEX?
The market value of IDEX currently stands at $50.47M, and its market ranking is #658. The value of IDEX is not widely recognized by the market. When the bull market comes, the market value of IDEX may have great growth potential.
As a new type of currency with innovative technology and unique use cases, IDEX has broad market potential and significant room for development. The distinctiveness and appeal of IDEX may attract the interest of specific groups, thereby driving up its market value.