IDEX
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IDEX

IDEX v3 January Update

On December 1st, 2021, we introduced the world to the next iteration of a decentralized exchange: IDEX v3 Hybrid Liquidity. Since then the numbers and performance have been overwhelming as users have learned the benefits of the novel design.

  • Over $290,000,000 in trading volume
  • Over 525,000 trades
  • Over 70,000 unique wallets

These last few weeks have also given us a wave of user feedback on the biggest issues and pain points, allowing us to focus our development efforts.

Here’s a few of the major items we’re focused on in the near term:

IDEX Staking

We’ve heard you loud and clear. You love the opportunity to earn 50% of fees, but running a node is cumbersome for most. We’re working with a 3rd party staking service to provide users with an easier option.

Polygon Block Delay

While not entirely in our control, there are two areas we are watching:

  • We’ve implemented a recovery mechanism that makes it easy to re-sync with the network in the event a deposit transaction is reverted. This may make it possible to reduce the block delay while we wait for a final solution from Polygon.
  • Polygon is working on an upgraded consensus mechanism that will reduce the frequency and length of any re-orgs. It’s unclear how much of an impact this will have, but we’re optimistic that it could significantly reduce or even eliminate the issue.

Farms 2.0

We’re looking at making some major upgrades to the farms page:

  • Partner rewards — allow for projects to easily add liquidity mining to their own pools
  • Dual rewards — boosted pools with both partner and IDEX rewards
  • Reskinned UI w/ sorting — upgraded look allowing you to sort and quickly find the farm you want

New Team Members

  • Full-stack engineer — we recently hired a new developer to help us out in all areas of the application. The goal here is simple; increase the speed at which we ship new features.
  • Dev-ops engineer — as our application has grown, so has the complexity of managing the off-chain infrastructure. A new dev-ops engineer will help keep our house in order so the rest of the team can focus on new things.

Order Book Updates

  • Aggregation — set a custom aggregation level so it’s easier to see depth and liquidity
  • Cumulative total/sum — additional metrics that allow you to at a glance understand how much liquidity is between the current market price and ar reference price

Defi Analytics Integrations

We’re in the final stages of integration with major defi tracking sites like defi pulse, defi llama, etc.

We’re grateful for all the feedback we’ve received since launch. Your continued support and dialogue helps shape the future of IDEX. There are many other efforts happening behind the scenes as we continue working on our goal of building the ultimate DEX but this should give you a taste of what’s coming.

-Alex

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