IDEX is the first hybrid liquidity DEX that combines a high-performance order book and matching engine with automated market making (AMM). The platform combines the advantages of centralized and decentralized exchanges with the performance and features of traditional order books and the security and liquidity of AMMs. IDEX is the world’s leading decentralized smart contract exchange, supporting real-time transactions and high transaction throughput. IDEX is the most advanced DEX. It not only supports limit and market orders, there is no fee for canceling transactions, but it can also complete multiple transactions at one time. IDEX and Algorand will work closely together to develop financial tools and services to support new economic exchanges.

The DEX project has launched a Polygon-based hybrid decentralized exchange. The platform uses a combination of order books and automated market maker (AMM) mechanisms. The IDEX v3 hybrid model supports real-time execution of stop-loss, limit orders and trades. When filling a new order, the trading engine compares the limit order and the best combination of liquidity in the pool to execute on the best conditions.

According to the press release, the Polygon network will reduce transaction costs for users “by a factor of 10,000 to 100,000” compared to Ethereum.


IDEX stands for International Distributed Ethereum Exchange. It was established in October 2016 and has been in development for 6 years. It can be regarded as an old exchange. Now that IDEX has launched version 2.0, it still maintains the same off-chain matching and on-chain settlement. This off-chain transaction matching and on-chain settlement architecture provides centralized speed while maintaining the security of IDEX. , which is one of the reasons why investors prefer IDEX exchange.

How to work

The model adopted by IDEX is the off-chain order book model. After the user must send the coins to the exchange address, all transactions are matched through the transaction processing arbiter, trade in order, and finally publish the results on the chain. IDEX smart contracts are designed so that only exchanges have the right to submit signed transactions to Ethereum.

The IDEX smart contract can control the processing order of transactions through “arbitration”, separating transaction behavior from final settlement. As users make transactions, their transaction balances are updated in real-time, while their private keys are used to authorize contract transactions. This authorization prevents users from reversing any completed transactions and prevents IDEX from initiating any unauthorized transactions. Authorized transactions are passed to the arbiter who manages the queue of pending transactions, dispatching them in order to ensure that each transaction is mined in the correct order and that the smart contract balances are kept in sync with the transaction balances. By controlling transaction order, IDEX provides the speed and user experience of a centralized exchange with the security and auditability of a decentralized exchange.

Team background
  • Alex Wearn – CEO, Alex is an expert on leadership teams in software product design and delivery. He has managed a wide range of operations, marketing and sales analytics products for Amazon, Adobe and IBM, and most recently led a product management team rebuilding their application to run on the private Ethereum blockchain (project still in stealth) model). Alex is a graduate of the Kellogg MMM program with a dual MBA in Finance and Operations and a Masters in Design and Innovation.
  • Phil Wearn – COO, Phil is the co-founder of EtherEx and has been building blockchain-based companies since Ethereum was just a white paper. While developing EtherEx, he identified the urgent need for a high-performance decentralized exchange protocol, an insight that became the foundation of IDEX. Phil has a background in aerospace engineering.
  • Jason Ahmad – Chief Technology Officer, Jason has spent his career leading product and engineering teams to create world-class software. Twice venture-backed founder whose last company, Epoxy, was successfully acquired in 2016. Jason is a graduate of Stanford University’s Computer Science Department, bringing his expertise and knowledge to Aurora’s engineering team.
  • Brian Fernald – Full Stack Developer Brian is a full stack developer with over 10 years of experience in startups. In addition to engineering, Brian has worked for many years in blockchain technology, product management, marketing and design. Brian leverages his passion for fintech and blockchain technology to create the best user experience possible.

The total issuance of IDEX is 1,000,000,000 IDEX, the total circulation is 651 million IDEX, the circulation rate: 65.07%, and the circulating market value is: $79,776,347. IDEX Tokens coordinate incentives between exchanges and IDEX Token Stakeholders, who play a key role in the operation and security of IDEX 2.0. Stakers are rewarded with 50% of transaction fees for their participation.

  • Stakeholders get 50% of IDEX transaction fees.
  • Stakers can run tier 1 or tier 2 nodes. Steady-state spending is the same for both tiers.
  • All stakers operate the mirroring API of IDEX’s public order book.
  • Layer 1 stakers also audit the Layer 2 network for fraud and activate fraud proofs. These stakers can earn more IDEX tokens by correctly activating fraud proofs.
  • Tier 2 stakers can stake directly from cold storage, while Tier 1 stakers run the risk of being cut off if they act maliciously.

1)1) Open the Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) wallet and switch the network to Polygon;

2)Click [Browser], enter [IDEX] in the search box, then slide the page to find the correct Logo, and click the search result;

3)Browse the Dapp information and click [Confirm] to enter the platform homepage;


4)Click [Launch Exchange], confirm and click [Get started] again, you can see functions such as [Markets], [Exchange], [Farms], and you can click on different functions to jump to the page and experience it.


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