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IDEX

https://idex.io

About IDEX

What is IDEX?

IDEX has positioned itself as the first hybrid liquidity decentralized exchange (DEX) that combines an order book model with an automated market maker (AMM) mechanism. The exchange can thus offer traditional order book functionality with the liquidity and security of AMM. In addition, the exchange uses both an on-chain trade settlement and an off-chain trading engine. IDEX aims to provide users with a more enjoyable and efficient trading experience. In addition, the exchange's immediate execution mechanism prevents preemptive trading and sandwich attacks. Users' trades are not delayed by the settlement of the previous trade, allowing them to use more advanced order types and trading strategies. Users can also trade with limit orders and arbitrage on other exchanges. Liquidity on the exchange is provided by an automated market maker that displays virtual limit orders in the order book and visualizes liquidity in the same way as actual limit orders. The exchange decentralizes fund custody and trade settlement through smart contracts. The smart contract triggers trade execution off-chain, but settles the trade on-chain, thus using the order book model in this way. The smart contract also acts as an escrow third party and restricts the flow of funds until settlement is complete. The orderly nature of the transactions and the special features of the smart contract ensure that the funds are not permanently restricted. In addition, the smart contract enforces ownership and authorization, which means users retain custody and can make markets without additional infrastructure.

Who are the founders of IDEX?

Alex and Phil Wearn are the founders of IDEX. The brothers previously worked at big companies like Amazon, IBM, and Adobe, and the total IDEX team is over 30 people.

When did IDEX launch?

The exchange launched in 2017. After IDEX closed a $2.5 million seed round, version 2.0 of the exchange went live in the fall of 2020.

Where is IDEX located?

According to information on LinkedIn, the exchange is based in Panama.

Countries with restricted access to IDEX

IDEX complies with sanctions and anti-money laundering policies. Users from Iran, North Korea, Cuba, Syria, Crimea, and the US states of New York and Washington are unable to use the exchange's services. In addition, the exchange requires users to complete a KYC process.

List of tokens supported by IDEX

The exchange supports futures trading of all major cryptocurrencies and ERC-20 tokens.

What are IDEX's fees?

The exchange charges a 0.25% order taking fee. 0.2% of this is allocated to liquidity providers and the remaining 0.05% is an agreement fee. At the time of writing, this exchange does not charge a pending order fee.

Can I trade with leverage or margin on IDEX?

The exchange is still working on allowing users to execute leveraged trades in the future.