The All-New IDEX — A Quick Recap

Manuel Medel
IDEX
Published in
3 min readJul 6, 2023

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GM fam! Time for a quick recap of the all-new IDEX.

We like clean, and we’re getting rid of the version numbers, so keep in mind:

1- v4 is out, The All-New IDEX is in.

2- IDEX is now powered by XCHAIN — Read all about it here.

We’re building on the latest tech developments to bring the first perpetual futures DEX that fuses a CEX-like trading experience with DEX-like custody and security. The DEX will run on XCHAIN, our Layer2 powered by Polygon’s zkEVM.

Let’s dive in.

IDEX is different from all other perpetual futures DEXs. Our off-chain trading engine and an on-chain settlement and custody integrate to offer both high performance and the security of Ethereum’s base layer.

IDEX is set to provide:

Gas-free Trading: XCHAIN’s transactions costs are low enough to provide gas-free settlement, with costs on par with CEXs.

Unrivaled Performance: The high-performance trading engine offers extremely low latency and instant, guaranteed execution. Paired with our instant trading feature, the experience is indistinguishable from (and we think better than) CEX trading.

Self-custody and Transparency: By settling all trades on-chain, IDEX gives you full control over your funds with no hidden counterparty risk. Your keys, your coins.

API Integrations: IDEX’s Delegated Keys make it dead simple to use external trading terminals without exposing your private keys or giving up custody of your funds.

dApp Integrations: Decentralized applications will be able to join the XCHAIN ecosystem and serve IDEX users with products and services beyond that of just perpetual futures.

Along with the enhanced trading experience on IDEX, stakers of $IDEX will be rewarded with 50% of all fees generated by the platform, to be paid out in USDC.

Throughout the development journey, we’ve focused on establishing a solid infrastructure, designing an intuitive user experience for both seasoned users and newcomers, and integrating unique features that distinguish our project from other protocols.

We’ve been hard at work to bring our vision to life and the Internal Testnet is already live! Soon we’ll be launching a public incentivized tesnet designed to stretch IDEX to its limits and identify any necessary improvements ahead of our mainnet launch.

More details around our fee structure and trading incentives as well as how to gain early access to the testnet will be shared soon. Stay tuned!

About IDEX

Established in 2017, IDEX has set the standard as the premier high-performance decentralized exchange. The platform combines the speed and efficiency of traditional trading systems with the transparency and security of blockchain technology to create an unparalleled trading experience. IDEX is built for all traders, providing instant execution, millisecond latency, and gas-free settlement, while allowing users to maintain full control and custody of funds.

🌎 Website

📣 Discord

🐦 Twitter

💬 Telegram

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