IDEX Platform Updates: Managing User Growth & Enhancing Performance

IDEX is currently the most popular decentralized exchange (DEX) in the industry, adding over 20k new users in the past two weeks alone!

We currently rank in the top 60 of all crypto exchanges according to CoinMarketCap and are averaging anywhere between $8–12M in daily trading volume. We also consistently rank in the top 10 ETH contracts by transaction count (we actually held the #1 spot last week).

Adapting to Rapid Growth

This level of growth and transaction volume does not come without its challenges. Whether it’s server scaling, customer service, new token listings, exchange functionality etc.— IDEX must constantly adapt to the market and technology around it.

Here are some of the things we are doing from both a development and administrative standpoint to improve the IDEX experience:

Engineering/Product Development

  • Added four new engineering resources, and are in the process of onboarding two more, to assist with growing development needs
  • Refined our method of serving pending transactions and balance history to reduce server load
  • Increased server profiling to help quickly identify functions contributing to performance bottlenecks
  • Added more indices to our databases to improve the speed of order operations, other performance improvements based on profiling findings
  • Fixed a Metamask error preventing some users from unlocking their wallets

Customer Service

IDEX has added several new dedicated support staff to provide 24/7 support on both our Telegram and Live Chat (aka. “Trollbox”) channels. They will be able to assist you with common platform issues, transaction inquires, and much more. While we encourage discussions that aren’t support-related on our channels as well, we will not tolerate profanity, hate speech, threats, overt shilling etc. and users violating these conditions will be subject for removal.

(Please note that while we do monitor conversations outside of Telegram/Live Chat, we cannot guarantee they will be addressed in a timely manner).

The Future of IDEX

We are very excited to announce that IDEX will be implementing a new, more robust smart contract in the near future that will allow IDEX to support newer ERC token standards and make it easier to transfer funds to/from the contract. To ensure that our updated contract is as ironclad as our current contract, it is undergoing a 3rd-party audit by Hosho, a leader in blockchain security.

Additionally, we are overhauling our UI based off extensive consumer feedback to create a greatly improved trading experience. I would love post a screenshot or two of what I’m seeing behind-the-scenes, but like all great works of art it will take some time to perfect.

In the meantime, happy trading!

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