IDEX launched a hybrid decentralised exchange on Polygon. The platform uses an ‘order book’ together with an automated market maker (AMM).
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 hybrid IDEX v3 model enabled stop-loss orders, limit orders, and real-time order execution. When a new order is placed, the trading engine matches the optimal combination of limit orders and liquidity in pools to execute at the best possible terms.
According to the press release, the Polygon network will reduce users’ transaction costs by 10,000 to 100,000 times compared with Ethereum.
“Since its inception, DeFi has suffered from such problems as gas prices, frontrunning and slippage, but few have managed to offer solutions. The new hybrid design protects users from these pain points while delivering higher returns for liquidity providers,” according to IDEX CEO Alex Uirn, Cointelegraph.
With the launch of IDEX v3, the project team announced a liquidity mining program with a weekly distribution of 1,400,000 native tokens of the same name.
In November, the Cardano launched the first decentralised exchange on the mainnet.
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