IDEX is the first Hybrid Liquidity DEX, combining a high-performance order book and matching engine with Automated Market Making (AMM). The platform blends the best 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.
Processing orders in IDEX
Orders on IDEX are represented by signed transactions that include the price and amount. These orders are passed through the trading engine where they are processed; orders are matched and executed as a trade when overlapping with existing liquidity, placed on the order book as a new limit order when not, etc.
When orders match a trade is executed. Both traders’ balances update in real-time, and they can continue trading immediately using the new balances. Simultaneously the completed trade is sent to the network for settlement. On-chain transactions only occur during the settlement of a matched trade. Users are free to place and cancel orders as frequently as they like, without incurring additional network costs.
Order placements/cancellations are processed in real-time, enabling more advanced market-making and trading strategies. The use of a high-performance trading engine enables advanced order types typically only found on centralized exchanges. These include stop-loss, post-only, and fill-or-kill.
IDEX Hybrid Liquidity (IDEX HL)
It is a next-generation DEX that combines a traditional order book and matching engine with the liquidity pools of an automated market maker (AMM). Traders are seamlessly matched against the best combination of limit orders and pool liquidity for the lowest-cost execution without any additional effort. Like other order book exchanges, IDEX uses a high-performance matching engine to execute trades in real-time, with advanced order types that enable traders to implement sophisticated trading strategies.
IDEX HL relies on smart contracts to manage both custody and trade settlement, enforcing the constraints of the AMM pricing curve and allowing users to maintain custody of their assets. The IDEX smart contract contains three settlement (i.e. pool, limit order, and hybrid) functions that are employed in various circumstances depending on the type of liquidity being matched.
Who are the founders of IDEX (IDEX)?
IDEX was originally founded and developed in 2017 under the brand Aurora. The project was co-founded by Alex Wearn and Philip Wearn, who is the co-founder of EtherEx.
What is IDEX (IDEX) used for?
IDEX supports trading via a simple swap interface. The swap option can be used regardless of whether funds are already deposited into the platform (see ). If funds are already deposited, the swap will execute instantly. When swapping directly from a wallet, three steps (deposit, trade, and withdrawal) are executed sequentially.
Being a liquidity provider on IDEX HL is as simple as providing liquidity to any other AMM pool. Simply deposit equal amounts of each asset in the relevant pool, and the smart contract pricing function will handle the rest. Like other AMMs, liquidity providers receive LP tokens representing their share of the pool. These tokens can be used throughout defi in liquidity mining programs or as collateral.
Orders on IDEX are confirmed instantly. A common occurrence on other DEXs is failed trades which lead to wasted gas fees. To make matters worse, users must try again to execute the trade, often at a worse price. In IDEX, users get the best price and save money on gas.
IDEX staking enables traders, market makers, and fans of IDEX to operate part of the IDEX infrastructure and, in the process, contribute to the decentralization of IDEX and the robustness of the platform. Stakers use IDEX tokens and run IDEXd staking software to operate a node. Stakers earn 50% of trade fees collected by the network as compensation for their work.
IDEX dispatches all trades for settlement in the same order they were executed. This eliminates the need for users to increase gas prices and compete to process their trades. The result is a fair trading environment and a reduction in settlement costs. IDEX’s high-performance trading engine executes orders across all liquidity sources in real time. Incorporating limit orders leads to better pricing than pure AMMs.
Better Trading Options
Users are not limited to market orders, opening up more advanced trading strategies. Users trade against a liquidity pool with order types such as stop-loss, post-only, and fill-or-kill. In addition to advanced orders, IDEX features a top-tier API that conforms with the best-centralized exchanges. Quickly port your existing strategies to IDEX.
Passive Market Making
Casual users can deposit and forget it using AMM liquidity pools to easily provide liquidity to an order book.
Incentives encourage participation in the early bootstrapping phase.
How is IDEX (IDEX) unique?
The IDEX exchange component is similar to that of top centralized exchanges. This design enables IDEX to match centralized exchanges in latency and throughput– a performance that is unavailable from other DEXs.
It utilizes an off-chain trading engine for trade execution bringing in extreme performance and processing tens of thousands of orders per second with millisecond latency. It also guarantees to sequence and executing orders in the precise order that they are received by the server
The IDEX trading engine leads to a responsive user experience and insulates users from the failed trades, front-running, and sandwich attacks that plague on-chain DEXs. Paired with the trading engine is an off-chain order book. This combination both minimizes gas costs and maximizes the benefits of the trading engine. In addition, IDEX will be providing its liquidity mining program to bootstrap liquidity at launch.
IDEX HL is unique in that trades are automatically matched with the best combination of both limit orders of other users and an AMM liquidity pool. This hybrid execution enables users to interact with liquidity pools in a new way and leads to a host of advantages like Tight spreads and always-on liquidity, even for long-tail markets, without the expense or complexity of a traditional market maker, and passive liquidity provision opportunities and returns for users.
The IDEX HL design is unique in that instant, off-chain execution ensures that all arbitrage opportunities, however brief, can be captured. The low settlement costs of Polygon reduce the fixed costs of arbitrage and further bolster the volumes, and therefore fees, captured by LPs. Overall the IDEX HL design brings superior flexibility and functionality to both passive and active market makers.
How many IDEX (IDEX) coins are in circulation?
There are currently 674,482,177 IDEX in circulation out of a total of 1,000,000,000 IDEX.
How is the IDEX network secured?
Historically, high-performance exchanges require users to custody funds with the exchange. IDEX utilizes a series of smart contracts to decentralize fund custody and trade settlement as well as introduce novel DeFi mechanisms.
The off-chain trading engine executes trades in real-time before dispatching transactions to the network for settlement. This process creates a delay between when the user signs the order and the final settlement. It’s critical that the funds for both the maker and taker do not move on-chain in the time between execution and settlement or else the settlement transaction will fail.
The smart contract solves this by acting as a form of escrow, restricting the movement of funds until all settlements have finished. All trades and withdrawals are sequenced to ensure that on-chain balances are updated in the correct order.
The IDEX smart contracts cryptographically enforce ownership and authorization. This ensures that all trades are authorized by the owner and that withdrawals are legitimate and only sent to the account owner. The smart contracts are also responsible for enforcing the rules of the AMM liquidity pools, allowing users to market make without a third party or any additional infrastructure.
How do I buy IDEX (IDEX)?
The IDEX token can be used for a wide range of uses like staking and trading.
IDEX tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy IDEX through your trading account by swapping with BTC, ETH, and stablecoin pairs.
Which Cryptocurrency Wallet Supports IDEX (IDEX)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as IDEX (IDEX). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their IDEX wallet because it offers a simple interactive interface, making it easy for people to navigate.