Published in


Understanding Polkadex: Polkadex 101

What is Polkadex? What problems of modern traders and investors does it solve? How does it differ from existing CEXes and DEXes? How does Polkadex work? What is PDEX? The answers to all your questions are in this article!

So first things first: What is Polkadex?

Polkadex is a non-custodial, peer-to-peer trading platform that combines the benefits of CEXes and DEXes into one. Polkadex’s range of fully decentralized tools provides modern traders, investors and blockchain teams with unparalleled functionality. Built on Substrate and leveraging other sophisticated technologies, Polkadex is expected to become a major player within the Polkadot ecosystem upon our launch later this year.

Polkadex’s Products

Polkadex is not just one product, but the whole decentralized ecosystem aimed at covering all the needs of traders, investors and blockchain teams. We are featuring three key products, each bringing something unique to the market:

  • Polkapool: Token swap platform akin to current decentralized exchanges (DEX) with built-in interoperability and perks like zero gas fees.
  • Polkadex IDO Platform: The easiest way to introduce new tokens into the market for crypto projects and the most convenient way to invest in new tokens for investors in a decentralized manner.

Polkadex Orderbook & Polkapool

Both Polkapool and Polkadex Orderbook are cutting-edge platforms for traders of different levels including novice, professional and institutional traders.

Security of user funds with a CEX-like convenience

The highest priority for any exchange is the safety of user funds. Polkadex Orderbook is a non-custodial Layer 2 based exchange. This means Polkadex users retain full custody and control of their assets at all times. Users do not need to worry about hacks or other security threats which plague CEXes while swapping tokens, setting limit orders, or delegating their assets to third parties for bot trading.

Bots, HFT, fiat on-ramp and other features

Unlike the majority of DEXes, Polkadex allows users to set buy and sell orders and hand over their funds (while retaining custody) to third parties to profit from bot trading and high-frequency trading. All of these is available through the Orderbook functionality. Polkadex will also be one of the first DEXes to introduce the fiat on-ramp function, making it very easy for users to exchange their fiat money into crypto assets. It’s about time these features become available for DeFi users!

Advantages over DEXes

While Polkadex solves a lot of the issues that plague CEXes, it also tackles many of the current issues in the DEX industry.

Polkadex Launchpad

We have built PolkaIDO, the Polkadex IDO Platform, fully on the blockchain, as a first-of-its-kind platform in the market nowadays. It will make the IDO (Initial DEX Offering) participation easier both for crypto teams and retail investors.

  • Retail investors can benefit from on-chain randomness to get a fair chance of being whitelisted. This eliminates the need to hold large sums of platform-native tokens to participate in the IDO.

How does Polkadex make it all work?

Technology stack

Polkadex can offer all of the above advantages thanks to its uniquely innovative technology stack. In fact, Polkadex is the first project that uses the Substrate Abstraction Layer for SGX technology to build a decentralized exchange. It is also one of the first use cases of this technology in general.

  • The Intel-invented Trusted Execution Environment tech applied to crypto for the first time
  • The Orderbook engine that maintains the high-performing orderbook and matches trades on it
  • IPFS as the exchange’s insurance policy

Decentralized KYC

Polkadex also introduces a Decentralized KYC solution that will open up DeFi to more users including institutions and newcomers to crypto. Polkadex’s Decentralized KYC solution has been created in partnership with Fractal and KILT Protocol.

Polkadex Tokenomics

The tokenomics of PDEX, Polkadex’s token, have been developed jointly with some of the best minds in crypto-economics.

Polkadex Team and Background

Polkadex started its way in September 2020. The project is being built by a diverse team of over 20 highly skilled specialists spread around the world and led by its 3 co-founders — Vivek Prasannan, Gautham J and Deepansh Singh — who are all engineers and have solid development and business backgrounds.

What’s next for Polkadex?

Our website features a comprehensive roadmap for delivering Polkadex.

Become a Polkadexer

Thank you for taking the time to learn more about Polkadex. For even more details, check out the Polkadex Docs and Polkadex website. Our partners’ websites, Coinmarketcap and Coingecko, also have some additional information.



The fully decentralized peer-to-peer trading engine for Web3 and DeFi built on Substrate. The only platform combining benefits of centralized and decentralized exchanges in one product.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store