Hey IDEX fam! We’re back with our biggest update of the year so far, and this one’s a game-changer.
Previously we communicated our focus on the development of an IDEX specific Layer3. The goal was simple, to ensure the lowest fees combined with the highest level of security and performance possible.
We’re stoked to share that we’ve made a strategic move that will bring these enhancements to life through the launch of XCHAIN — our very own Layer 2 powered by Polygon’s zkEVM. This is a natural evolution of our efforts with the development of Layer3, bringing the same performance with even greater security than was previously possible.
Throughout our 6-year history, our vision has always been to synthesize a CEX-like trading experience with DEX-like custody and security. XCHAIN represents the final piece necessary to achieve that vision.
XCHAIN represents the final piece necessary to achieve that vision.
XCHAIN enables IDEX to eliminate the gap between the current status quo of clunky perpetual futures DEXs and their more performant, but less secure, centralized counterparts. The network builds on top of our already-successful partnership with Polygon and is the first of many Polygon ZK Supernets, a key milestone on Polygon’s 2.0 roadmap.
With the help of XCHAIN, IDEX is able to provide traders a variety of unique benefits:
- Gas-free Trading: XCHAIN’s transaction costs are low enough to provide gas-free settlement, with costs on par with CEXs.
- Unrivaled Performance: The network is paired with a high-performance trading engine that offers millisecond latency and instant execution. The XCHAIN experience will be indistinguishable from CEX trading.
- 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.
- Cross-Supernet Integrations: Anchored by Ethereum’s security, XCHAIN is a part of the Polygon Supernet ecosystem, integrating directly with other supernets to provide seamless transactions and interactions.
For the first time in our history, IDEX can truly rival CEXs in terms of cost and speed, but without having to make significant security trade-offs.
We’ve been hard at work on this and the Internal Testnet is already live! Stay tuned as we’ll be updating you in the coming weeks on our Public Incentivized Testnet. This campaign is designed to stress-test IDEX and XCHAIN and identify any problems ahead of our mainnet product launch.