IDEX Launches Hybrid Decentralized Exchange On Polygon

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The non-custodial marketplace IDEX has announced the launch of a new version of v3 Hybrid Liquidity DEX on Polygon. This will help eliminate the main disadvantages of DeFi: front-running and price slippage.

The hybrid model will combine traditional order book functions with automated market maker (AMM) liquidity pools to provide high financial returns for liquidity providers. In addition, the exchange will provide users with the ability to use stop losses and limit orders.

According to
a statement, working on the Polygon network will significantly reduce transaction costs compared to transactions at the first level of Ethereum. In the recent
research, published by Topaz Blue and Bancor Protocol, found that 49% of liquidity providers on Uniswap v3 have floating losses and are losing profits.

IDEX CEO Alex Wearn said:

“From the outset, the DeFi sector has been plagued by issues such as gas prices, front-running and price slippage. Few really offer solutions to these problems. ”

Wyrn believes that the new version of the platform protects users from these problems, while providing higher returns for liquidity providers and increasing the scalability of the decentralized economy. In addition to launching the protocol, the exchange offers a number of bonuses for users. The exchange will provide 1,400,000 IDEX tokens per week to boost liquidity, and the reward program will encourage regular user activity.

As a reminder, IDEX added support for Binance Smart Chain and Polkadot last year. Holders of IDEX tokens on Ethereum received an equivalent amount of tokens on the Binance Chain and Polkadot blockchains.

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