IDEX Exchange Launches XCHAIN: The Gas-Free, High-Performance DEX Solution
- IDEX exchange announces XCHAIN, a Layer 2 network, powered by zkEVM-based Polygon Supernets.
- XCHAIN enables gas-free trading and unrivaled performance with dApp integrations and cross-Supernet integrations.
- IDEX can now rival CEXs in terms of cost and speed without making significant security trade-offs.
IDEX exchange announced the XCHAIN testnet deployment, a Layer 2 network powered by zkEVM-based Polygon Supernets. XCHAIN utilizes Polygon zkEVM technology to offer gas-free trading, eliminating the costs that have prevented perpetual futures DEXs from experiencing similar growth as their spot counterparts.
IDEX, a decentralized exchange, has announced the deployment of XCHAIN, a Layer 2 network powered by zkEVM-based Polygon Supernets. XCHAIN utilizes Polygon zkEVM technology to offer gas-free trading, eliminating the costs that have prevented perpetual futures decentralized exchanges (DEXs) from experiencing similar growth as their centralized counterparts. This is a significant move for IDEX as it enables them to eliminate the gap between the current status quo of clunky perpetual futures DEXs and their more performant, but less secure centralized counterparts.
The XCHAIN network is built on top of IDEX’s already-successful partnership with Polygon and is the first of many Polygon ZK Supernets, a key milestone on Polygon’s 2.0 roadmap. With the help of XCHAIN, IDEX is able to provide traders with a variety of unique benefits, including gas-free trading, unrivaled performance, decentralized application (dApp) integrations, and cross-Supernet integrations.
IDEX’s vision has always been to synthesize a centralized exchange (CEX)-like trading experience with decentralized exchange (DEX)-like custody and security. XCHAIN represents the final piece necessary to achieve that vision. For the first time in their history, IDEX can truly rival CEXs in terms of cost and speed, but without having to make significant security trade-offs.
IDEX is hard at work on the Public Incentivized Testnet designed to stress-test IDEX and XCHAIN and identify any lingering bugs ahead of their Mainnet Product Launch. With up to 20x leverage, IDEX is thrilled to bring this exchange to the market.
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