What is IDEX (IDEX)?
IDEX is a "Hybrid Liquidity DEX." IDEX combines an order book and matching engine with a traditional Automated Market Maker (AMM) to incorporate elements of both decentralized and centralized exchanges. It operates on Polygon's Matic Network. IDEX allegedly provides users with order book features and AMM security and liquidity. Using real limit and stop-loss orders, IDEX purportedly enables traders to obtain desirable spreads, provide liquidity, and avoid failed transactions. The platform is powered by the ERC-20 token $IDEX.
IDEX allows users to maintain full custody of their cryptocurrency funds while allegedly ensuring security. The IDEX token serves as the underlying asset for all network operations. Thus users can use it as the primary payment method on the network.
IDEX relies on a Proof-of-Stake (PoS) consensus mechanism and employs equity and node operators to protect the network and validate transactions. IDEX holders can stake their IDEX to enable users to operate their staking node or delegate their IDEX to existing nodes. IDEX states that IDEX stakers collect 50% of all trade fees collected on the network.
According to the IDEX documentation, users can exchange BNB Chain and Ethereum-supported cryptocurrencies on the decentralized exchange. Additionally, the development team announced that IDEX would integrate with Polkadot and other networks in the future. The current price of IDEX is live-tracked on Binance.
