News

IDEX Exchange Launches XCHAIN: The Gas-Free, High-Performance DEX Solution

Key Points:

  • 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.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

25 mins ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

1 hour ago

BlockDAG X1 App Receives Huge Response From Community, Hiting Over 200K Users! Latest on Bitcoin & Chainlink Prices

Want to learn about Bitcoin and Chainlink's prices? See why BlockDAG with its X1 app…

1 hour ago

Bitcoin Mining Difficulty Tops 100T Hash for the First Time

New ATH for Bitcoin’s average hashrate, combined with Bitcoin mining difficulty surpassing 100 trillion hashes,…

2 hours ago

US Presidential Election Drives Bitcoin Price Back to $70,000

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

3 hours ago

Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

NY, United States of America, 5th November 2024, Chainwire

3 hours ago

This website uses cookies.