Polygon has just announced that Hybrid Liquidity DEX, IDEX is coming to Polygon. IDEX was launched in 2017 and is among the oldest decentralized exchanges and DeFi projects. IDEX was the #1 decentralized exchange between 2018 and 2020 and is considered the OG in DeFi.
An Overview Of The Hybrid Liquidity DEX
The IDEX Hybrid Liquidity DEX will launch on Polygon with several features such as a high-performance order book and a trading engine that has liquidity pools from an automated market maker (AMM). IDEX decentralized exchange’s hybrid liquidity is the first to combine order book and automated market makers (AMM). This enables users to execute trades instantly while also utilizing limit orders and pooled liquidity.
Reducing Transaction Costs
The IDEX’s launch on Polygon will allow the decentralized exchange to be able to reduce transaction costs for users on the exchange. It will also enable users to explore IDEX’s growing list of DeFi blue-chip projects and NFT ecosystem, all with minimal gas fees involved. Polygon has stated that it hopes that the growth of IDEX and its partnership with Polygon will drive mass adoption among both crypto users and non-crypto users.
The First Hybrid Liquidity DEX
IDEX is among the first Hybrid Liquidity decentralized exchanges. It is also the first to combine a high-performance order book with an Automated Market Maker. IDEX combines the best characteristics of centralized and decentralized exchanges, including the features and performance of an order book and the liquidity and security of an Automated Market Maker (AMM). This allows traders to avoid transaction failures, get access to the best spreads and provide liquidity easily.
Connecting Ethereum Compatible Blockchains
Polygon is an easy-to-use, well-structured platform for Ethereum infrastructure development and scaling. The Polygon SDK, its core component, is a modular and flexible framework that can support creating and connecting secured chains such as optimistic rollups, zkRollups, Validium, Plasma, etc.
It also supports standalone chains such as the Polygon PoS, which are designed for flexibility. Today, Polygon’s scaling solutions have seen significant adoption in the crypto community, with over 450 decentralized applications, 13.5 million unique users, and 350 million transactions. Polygon is combining the best of Ethereum and Ethereum compatible blockchains to create a multi-chain system.
It focuses on solving known issues with blockchains, such as slow speeds and high gas fees, without having to compromise on the security of the protocol. It is similar to protocols such as Cosmos and Polkadot, except it is more secure, more open, and robust, and it is able to take full advantage of the Ethereum network.