What Is IDEX and How to Buy IDEX Tokens?

If you are a cryptocurrency trader, you may be acquainted with decentralized exchanges (DEXs) that prioritize transparency, security, and decentralization. But have you come across IDEX? It's the first hybrid liquidity DEX that combines an order book model with an automated market maker.

In this article, we'll take a comprehensive look at IDEX, covering its platform, token, history, features, and value. Additionally, we'll offer guidance on where and how to purchase IDEX tokens. Let's embark on this thrilling journey to uncover all you need to know about IDEX!

What Is IDEX? 

IDEX is a decentralized exchange that focuses largely on the Ethereum ecosystem. It supports a wide range of ERC-20 tokens and leverages smart contracts to allow its traders and users to handle their tokens in a custodial way. IDEX has gained a lot of attention in the cryptocurrency community, IDEX stands out as the first hybrid liquidity DEX that combines an order book model and an automated market maker. 

IDEX, which is the first hybrid liquidity DEX, combines automated market making (AMM) with a high-performance order book and matching engine. With the performance and functionality of a conventional order book and the security and liquidity of an AMM, the platform combines the best of centralized and decentralized exchanges. With the help of genuine limit and stop-loss orders, traders on IDEX may effortlessly supply liquidity, obtain the best spreads, and prevent failed transactions.

IDEX developed a hybrid that blends an automated market maker with an order book model. The platform utilizes an off-chain trading engine that achieves performance levels comparable to centralized exchanges and ensures sequencing. Transactions are handled through an off-chain order book, with settlement on-chain occurring solely after a trade is matched and executed.

Users stand to gain by avoiding supplementary network expenses when placing and canceling orders. Additionally, trades are executed in real-time, offering the possibility to engage in sophisticated trading and market-making methods such as stop-loss, post-only and fill-or-kill. To ensure sufficient liquidity, the automated market maker integrates virtual limit orders with actual ones in the order book, resulting in a visual representation of AMM liquidity. Orders may be settled either entirely through AMM liquidity or via a hybrid combination of AMM and limit order liquidity.

IDEX employs smart contracts to decentralize the custody of tokens and the settlement of trades. To support the order book model, trades are executed off-chain by the smart contract but settled on-chain, albeit with a delay. The smart contract operates as an escrow, holding funds in check until the settlement process is completed. The smart contract also manages the sequencing of trades, with a special feature in place to prevent indefinite fund restrictions. Additionally, the smart contract enforces ownership and authorization, ensuring that users retain custody and can engage in market-making activities without requiring additional infrastructure.

IDEX is a top choice for traders seeking a fast, secure, and low-cost trading experience. IDEX's hybrid design enables it to offer real-time trading, great liquidity, and a diverse set of trading choices for Ethereum-based tokens. IDEX is an easy-to-use platform that combines the advantages of centralized and decentralized exchanges.

What Is the IDEX Token?

The IDEX token is a digital currency used on the decentralized IDEX exchange, providing benefits such as lower trading fees, liquidity incentives, and governance voting rights. Launched in 2017, IDEX was created to overcome the limitations of centralized exchanges and to provide a secure and transparent peer-to-peer trading environment using the Ethereum blockchain.

The IDEX token provides users of the exchange with various benefits. These include discounted trading fees based on the number of tokens held, liquidity incentives for contributing to the order book, and governance voting rights. By incentivizing users to provide liquidity and participate in decision-making, the IDEX token enhances the trading experience and aligns the interests of the community with the platform's development.

IDEX Tokenomics

The token distribution is as follows:

40% - market maker rewards, marketing campaigns, and airdrops

10% - IDEX members

25% - Team

10% - Future employee token pool

10% - future use

5% - business expenses

Users can also run a lightweight node and stake their IDEX if they have a minimum of 10,000 IDEX

History of IDEX

IDEX is a decentralized exchange platform that was founded in 2017 by Alex Wearn and Philip Wearn under the original brand name, Aurora. The project's aim was to create a secure and transparent peer-to-peer trading environment that leverages the Ethereum blockchain's decentralized architecture. 

IDEX was once known as Aurora until it was rebranded in 2019. IDEX's new focus is on developing the first non-custodial exchange that blends centralized order matching with real-time decentralization. The current CEO of IDEX is Alex Wearn, a seasoned software developer with managerial experience at organizations such as Amazon, IBM, and Adobe. The platform gives users access to banking and financial tools that allow them to exchange cryptocurrencies across numerous platforms, including Ethereum, BNB Chain, Polkadot, and future integrations.

Features of IDEX

IDEX is a decentralized exchange that provides its users with a variety of distinct features and benefits. If you're thinking about investing in the platform's native cryptocurrency (IDEX), you should know what sets IDEX unique from other exchanges on the market. Here are the top five reasons why IDEX is appealing to cryptocurrency traders and investors.

1. Ethereum, Polkadot, and BNB Chain (BSC) support: IDEX supports multiple blockchain platforms, which makes it more accessible to a wider range of users.
2. Multichain functionality: IDEX provides a seamless user experience with its multichain functionality, allowing users to swap between chains with ease.
3. Peer-to-peer trading: IDEX operates on a peer-to-peer trading model, which eliminates the need for intermediaries and provides greater security and transparency.
4. Sophisticated security and transparency: IDEX uses smart contracts to provide secure and transparent trading for its users.
5. High returns for stakers on IDEX products: Stakers of IDEX products can earn high returns, which may incentivize users to hold IDEX tokens and participate in the platform's governance.

IDEX Token Value

IDEX is the utility token of the IDEX decentralized exchange, which is built on the Ethereum blockchain. It's used to pay for trading fees, staking rewards, and network governance. The trading volume and liquidity of the IDEX exchange, the popularity and usage of the IDEX platform, the overall demand for decentralized exchanges, and the legal environment governing cryptocurrency trading all have an impact on the value of IDEX.

Additionally, any significant updates or developments to the IDEX protocol or partnerships with other platforms could impact the token's value. As with any cryptocurrency, the IDEX token is also subject to broader market trends, investor sentiment, and macroeconomic factors.

IDEX Price History

Since its launch in 2018, IDEX has frequently seen value volatility. IDEX has ranged from a high of $0.40 to a low of $0.0056. IDEX peaked in 2021 at $0.226 before falling to $0.057 in June. Numerous variables, such as market trends, investor sentiment, IDEX platform adoption, and regulatory requirements, have an impact on the price of IDEX.

What Gives IDEX Value?

The IDEX token holds value due to its use as a native token on the IDEX decentralized exchange. This allows it to be used for trading fees, staking rewards, and network governance. The demand for IDEX is influenced by various factors including how commonly it is used on the IDEX platform, the volume of trading, and general market trends.

How to Buy IDEX Tokens?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including IDEX, users can now trade easily and seamlessly. To purchase IDEX tokens on CoinEx, follow the steps below.

1. To access CoinEx's services, register for an account by clicking "Register". Existing users can log in.
2. Deposit funds into your CoinEx account using one of the supported cryptocurrencies.
3. Navigate to the IDEX trading page on CoinEx, select the trading pair of your choice, and enter the amount of IDEX you want to purchase.
4. Buying IDEX is a simple process after finding the trading pair. Choose the appropriate trading pair, indicate the desired number of IDEX, and trade the paired token with IDEX.