IDEX
Top US Crypto Exchange Coinbase Lists Eight Altcoins for Custody Support As Markets Stumble
Coinbase is expanding its crypto footprint by extending custodial services support to over half a dozen new altcoins. In a new tweet, the US-based cryptocurrency exchange says it’s adding eight new cryptos to its roster of 150+ assets that are part of the Coinbase Custody cold storage trust. Coinbase Custody now supports deposits and withdrawals […]
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Crypto.com Lists New Ethereum-Based Decentralized Exchange Token
Singapore-based crypto exchange giant Crypto.com is listing a low-cap Ethereum-based hybrid liquidity decentralized exchange token. In a new announcement, Crypto.com is introducing IDEX (IDEX), formerly AuroraDAO, for trading on the company’s app. IDEX is a multi-blockchain decentralized exchange offering a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and […]
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Coinbase Launches Support for Series of Altcoins Across Full Retail Platform
Top US crypto exchange Coinbase is expanding support for four Ethereum tokens and a pair of other altcoins across its full retail platform. After a release on Coinbase Pro, IDEX (IDEX) is now available to buy and sell on the company’s main retail trading platform and mobile applications. The Ethereum token powers the IDEX decentralized […]
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Coinbase Triggers Massive Price Rallies for Seven Altcoins After Launching Sudden Crypto Listing Spree
Seven altcoins are surging after a surprise listing by top US crypto exchange Coinbase. In a new blog post, Coinbase says that 5 Ethereum tokens and 2 other altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met. Circuits of Value (COVAL) skyrocketed from $0.02 to $0.06 almost instantly and peaked at […]
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IDEX to launch hybrid liquidity decentralized exchange on Polygon
The platform seeks to provide solutions to drawbacks on traditional DEX platforms, most notably front-running and slippages.
IDEX, a decentralized cryptocurrency exchange (DEX) based in San Francisco, has announced the upcoming launch of its v3 Hybrid Liquidity DEX on Polygon.
The hybrid model will merge traditional order book functionalities with automated market maker (AMM) liquidity pools in a bid to cultivate higher financial returns for the services liquidity providers, as well as provide typical investing tools such as stop-losses, limit orders and real-time execution.
According to the platform, operating on the Polygon network enables lower transaction costs to the value of "10,000-100,000x cheaper" than typically witnessed on Ethereum layer-1, in addition to benefitting from the networks full-stack Ethereum scaling mechanics.
By popular demand, we've uploaded the IDEX v3 LIVE Pre-launch #AMA w/ @AlexWearn.
— IDEX (@idexio) November 30, 2021
Missed it? Now's your chance to catch up.https://t.co/zXrGR9gBG6
For greater context into the burden of high fee for liquidity providers in decentralized finance (DeFi), a research paper published by Topaz Blue and Bancor Protocol uncovered that almost half of all liquidity providers on Uniswap v3 have been subject to impermanent loss based upon a 43% data snapshot of the platform.
Despite this, the platform ranks first in DEX 24-hour trading volume at $2.8 billion, according to data from CoinGecko, closely followed by PancakeSwap v2 with $2.3 billion.
As for gas prices, many DeFi participants have been encouraged to transition over to Ethereum Virtual Machine-compatible and layer-2 networks in search of cheaper alternatives, a trend that has resulted in a soaring level of market total value locked.
Related: DeFi TVL hits new highs while Metaverse tokens show signs of exhaustion
IDEX CEO Alex Wearn said, “DeFi has been hamstrung by issues like gas prices, front-running, and slippage since its inception, yet few solutions have truly offered answers to these problems," adding:
“The novel Hybrid Liquidity design protects users from these pain points, while simultaneously generating higher returns for liquidity providers to boost the scalability of the wider decentralized economy.”
Alongside the protocol launch, the exchange is also offering a number of incentives for users that interact with the platform. Liquidity Mining will provide 1,400,000 IDEX tokens per week to enhance liquidity, while a rewards program will acknowledge regular activity.