IDEX Hybrid Liquidity Eclipses $100 Million in Two-Week
SAN FRANCISCO, December 21, 2021 (GLOBE NEWSWIRE) – IDEX, one of the leading decentralized cryptocurrency exchanges (DEX), has announced that its v3 Hybrid Liquidity DEX has generated more than $ 100 million in trade volume during his first two weeks. At the time of writing, over 30,000 unique wallets have already been traded on the Polygon-based DEX since its launch on December 1, 2021. As the world’s first hybrid liquidity DEX, the new exchange aimed to cement hybrid liquidity as a real competitor to the Automated Market Maker (AMM) and order book designs that made DeFi traders vulnerable to running, skidding, sandwich attacks and gas fees exorbitant.
Decentralized exchange volume grew 550% in 2021 alone, despite DeFi’s glaring pitfalls, including failed trades, spike attacks, and maximum extractable value (MEV) attacks, according to analytics firm Chainalysis. . In response, IDEX released the Hybrid Liquidity v3 to provide traders with the most popular centralized exchanges (CEX) and DEX features, such as a high performance order book and liquidity of AMM pools, without sacrificing security.
In the first two weeks since launch, IDEX v3 has racked up over $ 100 million in trade volume and TVL north of $ 30 million. In addition, IDEX facilitated nearly 350,000 transactions during that two-week period, without sacrificing a failed transaction. By comparison, QuickSwap, another Polygon-based DEX, first crossed the million TVL mark in January 2021, despite launching three months earlier in October 2020. Given the unprecedented volume of trading on v3 , IDEX anticipates that the hybrid liquidity design will offer DeFi traders a desirable alternative to the AMM and order book models in place.
âDeFi has experienced incredible growth over the past year and still has immense potential for expansion,â said Alex Wearn, CEO of IDEX. âFor DeFi to realize its potential, it must protect its users from persistent failures in space. Using IDEX v3 indicates that DeFi traders are happy to trade in a hybrid environment without fear of trade failure. We believe this DEX model will be a catalyst for the further development of DEX in the ecosystem as we take DeFi to the next level. “
The exponential year-over-year growth of the Polygon network has made it a clear candidate to launch DEX v3 on. Polygon has been successful in making transactions faster, more affordable, and more reliable than the Ethereum mainnet, which has propelled its adoption rate. In just one year, Polygon went from 30 dApps to almost 3,000, as its Layer-2 solution effectively addressed Ethereum’s high gas cost issues. Since May 16, 2021, Polygon Network has consistently maintained an TVL of over $ 3 billion, underscoring the platform’s continued success. Compared to the popular smart contract platform, Avalanche, Polygon processes around 4 times more daily transactions than Avalanche, while Polygon users pay less than a third of the total transaction fee to execute significantly more transactions. than on Avalanche. IDEX predicts that its v3 hybrid liquidity deployment on Polygon will generate the highest possible returns for traders.
âOur goal has always been to develop the decentralized economy,â continued Wearn. âGiven the growth and success of the Polygon network, we felt this was the ideal platform to launch v3. We are excited to see Hybrid Liquidity become a DeFi staple and, more importantly, to see how it protects traders against existing traps.
Following the launch of IDEX Hybrid Liquidity Mainnet, the native IDEX token, $ IDEX, has been listed on several cryptocurrency exchanges: Coinbase and Huobi. Over the next few months, IDEX plans to explore other networks to offer its new DEX features.
To start trading on IDEX v3, please visit: idex.io. For more information on the new product Hybrid Liquidity, visit the IDEX blog or Twitter.
IDEX is the first decentralized Hybrid Liquidity crypto currency exchange, combining a high performance order book with Automated Market Making (AMM). The platform combines the best of centralized and decentralized exchanges, with the performance and functionality of an order book and the security and liquidity of an AMM. IDEX allows traders to achieve the best spreads, avoid failed trades, and easily provide liquidity, all with the power of real limit and stop-loss orders. IDEX is a product developed by Aurora Labs, SA
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