Scaling Polkadex Unique DEX Solution with Pinknode
In seeking to further the evolution of DeFi, an increasing number of platforms are going “back to the future” by combining the best of DeFi and CeFi into one decentralized platform. This is why Pinknode’s latest collaborator, Polkadex, seeks to combine the DeFi-based benefits of automated market makers (AMMs) with a CeFi-inspired order book model. With its ambition to bring its unique hybrid decentralized exchange (DEX) to the Polkadot ecosystem, it will be submitting a parachain bid in time to come.
Getting the Best of Both Worlds
Drawing upon the modularity and customizability of the Substrate framework has allowed it to construct a slim, lightweight chain that simplifies user experience while raising throughput. While the threat of low liquidity badgers many DEXes, Polkadex remedies this by connecting AMMs straight to its trading engine and enabling them to function as on-chain market-making bots.
“With its ingenious hybrid of DeFi novelty and traditional order book efficiency, Polkadex has much to offer the ecosystem. We would like to congratulate Polkadex on the successful mainnet launch, but we are also aware that Polkadex has now turned its focus to preparing for its parachain bid. We are ecstatic to be part of their journey.”
-Eric Poh, Co-Founder of Pinknode
They can then be called upon when a trade is unmatched with the Polkadex order book and are responsible for providing a more optimal price for a trade to be executed, thereby eliminating slippage. For its initial iteration, limit and market order trades will be facilitated in a manner that generates zero-fee trades AMM orders, while market takers draw in a 0.2% fee. AMMs are allocated with half of all accrued fees, while the other half will be channeled into promoting network growth.
Maximizing Scalability while Reducing Latency on Polkadex
Since the launch of its mainnet on 29th September 2021, new users have started pouring in to partake of its nascent nomination and validation system, and with Pinknode acting as a validator on the Polkadex platform. Pinknode’s commitment as an infrastructural provider also includes supplying Polkadex with geographically distributed nodes that can seamlessly generate scalable API endpoints with a single click. Pinknode will continue to support Polkadex as it achieves more milestones and starts gearing up for its parachain bid.
“Pinknode’s vision to support a multi-chain future by providing easy-to-use, reliable, and scalable infrastructure services via unified APIs will be a great value add for the solo chain built on the substrate framework along with Kusama and Polkadot ecosystem.”
-Deepansh S, Co-founder of Polkadex
Polkadex is a fully decentralized peer-to-peer orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate.
Follow Polkadex official accounts here:
Pinknode is a Polkadot-specialized Infrastructure-as-a-Service provider with the goal of accelerating adoption and empowering innovators to build on the most promising Web 3.0 ecosystem. By providing API endpoints through a streamlined onboarding process and maintaining secure, reliable and scalable node infrastructure, Pinknode helps innovators jumpstart development quickly and accelerates their product life cycles.