What Is Idex?
Idex is a decentralized exchange based on the Ethereum. The platform employs smart contracts, instrument that facilitates users the management of their private keys. Furthermore, based on an IDEX review, the company has Meta Mask Wallet integrations, which allows users to manage their funds without the need to enter their private key as a safety measure. An review also reveals that the company focuses on digital assets. In other words, it excludes any other way of payment such as fiat currencies.
Idex Coin (IDEX) is a cryptocurrency and operates on the Ethereum platform. IDEX has a current supply of 1,000,000,000 with 590,919,396.3117803 in circulation. The last known price of IDEX is 0.05819996 USD and is up 5.34 over the last 24 hours. It is currently trading on 13 active market(s) with $8,069,857.16 traded over the last 24 hours.
Idex Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Idex |
| Short Name | IDEX |
| Circulating Supply | 590,919,396.31 IDEX |
| Total Supply | 1,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Centralized exchange speed and features
High Performance trading Engine
Idex Off-chain trading engine and order book with low latency and guaranteed trade execution. All hustle, zero hassle.
Polished UI
The same seamless experience and features found on your favorite centralized exchanges. You’ll wonder if it’s really a DEX.
Advance Order Types
Idex Coin All the order types you expect, so all of your existing strategies and software work right out of the box.
Decentralized security and community ownership
Your Keys, Your Coin
Your funds never move without your approval— whether from a simple private key or an advanced custom custody solution.
Security
Your funds are secured by an open-source smart contract instead of an opaque centralized counterparty with questionable security.
Stake And Earn
Stake and earn up to 50% of trade fees for contributing to the platform. You win when IDEX wins.
IDEX is Expanding to more Blockchains
IDEX is bringing the fastest, most secure DEX to multiple high-performance blockchains. The currently available on Ethereum and Binance Smart Chain, with Polkadot and others to follow.
Take it to the next layer
They Powered By an Innovative Layer-2 Scaling Solution.
Unlimited Scaling
IDEX uses Merkle roots to batch settle transactions, eliminating gas and congestion issues.
Cryptographically Secured
The stakers enforce the validity of the off-chain ledger, securing the network and earning trade fees as compensation.
Trade safely at every level
Rolling out an untested layer-2 system puts traders and their funds at risk. Unlike competing proposals, the layer-2 system is rolling out in phases for responsible stewardship and maximum security of the system.1
Breakthrough Perfomance,ON-Chain setelment
All new exchange features go live on day 1, trades settle on-chain individually. Makers incur no gas fees, takers pay a small gas fee per trade.
LIVE
The innovative layer-2 system operates alongside the on-chain settlement, proving the integrity of the system using production data.
Settlement
Settlement transitions fully to the layer-2 system, eliminating taker gas costs entirely and setting the stage for unbounded scale.
Decentralized Exchanges
DEXs represent a promising solution to this challenge. Operating on a “bring your own custody”
model, DEXs allow any custody solution to integrate and trade against any other custody
solution. However, the success of DEXs to date has been limited in comparison to their
centralized counterparts. In order to understand the drivers of their success and failure, it’s
helpful to first understand the different design patterns and trade-offs.
Scalability
In addition to increasing the costs of trading on the platform, writing all trades to the network
also limits the scalability of such systems. The Ethereum network has limited capacity and is
only capable of processing approximately five 1.0 trades per second. On peak days, the
IDEX 1.0 contract consumes as much as 18% of the entire network’s capacity.
Assets
A smart contract can only interact with an asset deployed on the same network. As such, the
current versions of DEXs are primarily on Ethereum and are only able to interact with ETH and
Ethereum tokens. In comparison to Bitcoin, which comprises nearly 70% of crypto trading
volume, this limited set of assets puts DEXs at a significant disadvantage when competing to
become a trader’s primary trading venue.