Eliminates Front-running and Trade Failures With New Trading Engine
IDEX, a leading decentralized cryptocurrency exchange (DEX), today launched a new version that addresses the UX issues that have held back DEX adoption such as front-running and failed transactions. Over the long term, IDEX aims to eliminate the performance gap between centralized (CEX) and decentralized (DEX) exchange. To wit, IDEX has abstracted away the decentralized functions and now offers traders an optimized environment.
“Decentralized exchanges put the users ‘closer’ to the blockchain,” said IDEX co-founder and CEO, Alex Wearn.
“This means that they have to deal with some of the shortcomings of blockchains themselves. In particular this could include things like long wait times for transaction and trade execution. The open nature also exposes users to issues like front-running and trade failures.”
Most decentralized exchanges provide a notoriously fickle experience, frustrating users with their lack of reliability. According to analysis from Token Ion, DEXs like Uniswap can have greater than 20% failure rates for trades during peak times. Likewise, other industry-leading DEXs still revert about 5 to 10% of all transactions. Additionally, the open ledger and on-chain matching systems of these DEXs invite bad actors to front-run trades and disrupt fair and seamless transactions.
Today, IDEX offers traders the same user experience as a centralized exchange but without taking control of user’s funds. Balancing decentralization with UX, IDEX keeps order matching and execution off-chain, guaranteeing successful trades all while keeping the user in control of their assets.
With the new IDEX 2.0, traders can expect the following:
- Frictionless onboarding; if you’ve traded on any centralized exchange then you will know how to use IDEX 2.0
- Instant trade execution
- Front-running protection
- Guaranteed trade settlement
- Private order books
- Capacity for thousands of users and hundreds of thousands of orders per second
Furthermore, IDEX has streamlined support for market makers with a simple API that matches the format of centralized exchanges. High-frequency traders (HFTs) can now trade continuously without waiting for transactions to mine, and they can place or cancel orders as fast as they would on a CEX.
Following its UX update, IDEX 2.0 will continue to add new features and upgrades in three phases. The phased rollout minimizes risk by isolating each major change and prioritizing security of the system. In its next phase, IDEX will roll out a layer-2 scalability solution that will virtually eliminate gas fees.
As part of the IDEX 2.0 launch, IDEX will be switching domains from IDEX.MARKET to IDEX.IO.
For more information, please visit the IDEX 2.0 homepage: https://idex.io/
About IDEX
IDEX operates the world’s most technically advanced cryptocurrency exchange with IDEX 2.0. Combining the speed and features of a centralized exchange with the security of a DEX, IDEX 2.0 is the only cryptocurrency exchange that does not compromise performance or security. The new exchange makes it easier than ever for market makers to integrate with their existing infrastructure and provide deep liquidity in a secure manner.
Contacts
Isaiah Jackson
Multiplied PR
e: isaiah@multiplied.io
t: 1 805 674 7348
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.
This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.
