The IDEX project launched a hybrid decentralized exchange based on Polygon. The platform uses “Exchange order book” coupled with the automatic market maker (AMM) mechanism.
IDEX v3, the world’s first Hybrid Liquidity DEX is now LIVE! 👾
✅ Combined AMM + Order Book Liquidity
✅ Trading Rewards + Liquidity Mining
✅ No failed transactions
✅ Real limit & stop-loss orders
✅ Cheap transaction feesLaunch IDEX v3: https://t.co/IDQBicXAp5 pic.twitter.com/PelcsV3JG2
– IDEX (@idexio) December 1, 2021
The IDEX v3 hybrid model enabled the implementation of stop losses, limit orders and real-time execution of trades. When filling out a new order, the trading engine compares the optimal combination of limit orders and liquidity in the pools for execution on the best terms.
According to the press release, the Polygon network will reduce user transaction costs “10,000 to 100,000 times” compared to Ethereum.
“Since its inception DeFi suffers from problems such as the price of gas, front-running and slippage, but only a few were able to offer options for their solution. The new hybrid design protects users from these pain points while delivering higher returns for liquidity providers, “IDEX CEO Alex Wyrne quoted as saying. Cointelegraph…
With the launch of IDEX v3, the project team proposed a liquidity mining program with a weekly distribution of 1,400,000 native tokens of the same name.
Recall that in November, the first decentralized exchange was launched on the Cardano mainnet.
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