Launched in 2017, IDEX is one of the longest-running Ethereum-based exchanges in the world, and it has become a popular choice for those looking to buy and sell ETH-based tokens.
In this comprehensive review of the IDEX Exchange, we will take a look at what makes IDEX so special, its features, fees, limits, security, and more.
What is IDEX Crypto Exchange?
IDEX is a decentralized exchange that allows users to trade Ethereum-based tokens and assets in a secure and trustless manner. It is one of the longest-running Ethereum-based exchanges, having been launched in 2017, and is known for its high liquidity, low fees, and excellent security.
IDEX follows the traditional decentralized model of trading, which means it does not require users to deposit their funds into the exchange in order to trade. Instead, users are able to trade directly from their own wallets.
The IDEX crypto platform is powered by the Ethereum blockchain, and its users can benefit from the security, transparency, and immutability of the Ethereum network. IDEX also offers its users a wide range of features, such as the ability to buy and sell tokens, place limit and market orders, and trade with leverage.
How Does IDEX Exchange Work?
IDEX exchange works similarly to other decentralized exchanges, in that it does not require users to deposit their funds into the exchange in order to trade. Instead, users are able to trade directly from their own wallets.
The IDEX crypto platform is powered by the Ethereum blockchain, and its users can benefit from the security, transparency, and immutability of the Ethereum network. In order to trade on the platform, users must first sign up for an account and link their Ethereum wallet. Once they have done this, they will be able to access the IDEX decentralized exchange and start trading.
When users place an order on IDEX, it is stored on the Ethereum blockchain and broadcast to the IDEX network. The order is then matched with other orders in the order book, and once it is filled, the Ethereum blockchain automatically executes the transaction and updates the order book.
This process is much faster and more efficient than traditional centralized exchanges, as it does not require any third-party intermediaries.
Components
IDEX is an amalgamation of a centralized and a decentralized system which creates an unparalleled user experience for both novice and experienced users.
High-performance Exchange
A system outside of the blockchain manages every part of trading. This design of the exchange element is comparable to the leading centralized exchanges. This plan makes it possible for IDEX to match the speed and capacity of centralized exchanges– something that can’t be accomplished with other decentralized exchanges.
Trading Engine
IDEX has an off-chain system of trade execution that delivers fast results, processing a huge number of orders per second with very low latency. The sequence of the orders is always preserved, as they are taken into account in the order they are received by the server.
This is in opposition to the majority of DEXs, which carry out trades on-chain, resulting in low speed and high latency related to blockchain transactions, as well as non-determinable ordering with miners deciding which transactions are taken and in what order.
The IDEX trading engine gives a responsive user experience and protects users from the failed trades, front-running, and sandwich attacks that are regular with on-chain DEXs.
Order book
The IDEX trading engine is paired with an off-chain order book to minimize gas costs and maximize benefits. Orders are represented by signed transactions that include the price and amount, which are passed through the trading engine for processing. When orders match, a trade is executed and the balances of both traders update in real time.
The completed trade is then sent to the network for settlement. On-chain transactions only occur during the settlement of a matched trade, allowing users to place and cancel orders. Real-time processing of orders and cancellations enables more advanced market-making and trading strategies.
Advanced orders
A high-powered trading engine is necessary for the implementation of cutting-edge order types, which are generally only accessible on centralized exchanges. These orders comprise stop-loss, post-only, and fill-or-kill, which enable a greater range of strategies that are usually not available on decentralized exchanges.
Swap
IDEX allows trading by means of a straightforward swap feature. It does not matter if the funds are already present in the system or not (refer to the smart contracts review). If the funds are already put in, the swap will be carried out immediately. If the trading is being done straight from a wallet, the process is broken down into three distinct steps (deposit, trade, and withdrawal).
Hybrid Liquidity
IDEX is the first order book trading platform to integrate a smart-contract Automated Market Maker (AMM) as a source of liquidity.
IDEX Hybrid Liquidity (IDEX HL) offers a cutting-edge DEX, combining the traditional order book and matching engine with the liquidity pools of an automated market maker (AMM). Traders experience the most cost-efficient trade without needing to take any extra steps, as they are automatically matched with the best combination of limit orders of other users and an AMM liquidity pool.
Similar to other order books, IDEX has a high-performance matching engine that executes trades in real-time, featuring advanced order types to facilitate sophisticated trading strategies. Nevertheless, IDEX HL is unique in that users can interact with the liquidity pools in a completely fresh way, providing a multitude of advantages.
- IDEX HL provides traders with a low spread and continuous liquidity, even for less popular markets, without the cost or difficulty of a traditional market maker.
- It gives users the option to receive passive liquidity and returns.
The way traders place orders and trade on the web or API is the same as with a standard limit order exchange. There is also a swap UI offered as an extra convenience.
Smart Contracts
IDEX’s smart contracts provide the platform with certain assurances. Traditionally, exchanges with great capabilities necessitate that customers deposit their money with them. IDEX has implemented a suite of smart contracts to decentralize the storage of funds and the completion of trades, as well as to provide novel DeFi elements.
Custody/escrow
To put it simply, the off-chain trading engine carries out transactions in real-time before the transactions are sent to the network to be settled. This can create a delay between when the user signs the order and when the final settlement occurs.
To make sure that the funds of both the maker and taker do not move onto the blockchain during the time between when the order is executed and when it is settled, the smart contract functions as a type of escrow and prevents the transfer of money until all settlements are complete.
All trades and withdrawals must be processed in a certain order to guarantee that blockchain balances are updated correctly. An extra smart contract function, known as wallet exit, works to ensure that funds cannot be held up indefinitely (which can be seen in the smart contract code).
Enforce system rules
When it comes to centralized order book exchanges, people have to rely on the exchange to appropriately match and settle transactions. Additionally, they must trust the exchange to look after their assets and to process valid withdrawals.
The IDEX smart contracts cryptographically guarantee the possession and permission of the users. This makes sure that all trades are approved by the owner and that withdrawals are real and only transferred to the account holder.
The smart contracts are also responsible for adhering to the regulations of the AMM liquidity pools, allowing users to market make without a middleman or any extra structures.
User Benefits
IDEX’s distinct architecture provides a range of advantages to everyone participating in the system.
Swap Traders
With other DEXs, unsuccessful transactions can lead to an unnecessary expenditure of gas fees (which can be viewed here). As a result, customers have to attempt the exchange a second time, often at a less advantageous rate. On IDEX, orders are processed immediately, prohibiting any underhanded actors from engaging in front-running or sandwich attacks.
This way, customers get the top rate and save on gas. Moreover, IDEX sends all trades off to be settled in the same order as they were placed, meaning there is no need for customers to increase gas prices or compete to process their orders. This creates a level playing field and reduces the cost of settlement.
Advanced Traders
Immediate Trade Execution: Apart from the advantages described above, immediate execution guarantees that IDEX balances are updated in a flash. This allows energetic traders to keep trading without having to wait for prior transactions to be concluded.
Best Prices: IDEX’s advanced trading engine instantly carries out orders from all liquidity sources in real time. Incorporating limit orders results in better pricing than pure AMMs.
Advanced Order Types: Traders are not restricted to market orders, which unlocks more sophisticated trading strategies. People can trade with an order pool that includes stop-loss, post-only, and fill-or-kill orders.
Active Market Makers
IDEX provides a premier API that rivals that of the leading centralized exchanges, allowing for the quick and easy transfer of existing strategies. Furthermore, there are no gas fees associated with making and canceling limit orders due to the off-chain order book.
Additionally, the IDEX automated market maker (AMM) only changes the price when people trade against it, leading to arbitrage opportunities when prices move on other exchanges.
AMM LPs
Passive Market Making: Individuals who are not experienced traders can invest and then set it and forget it by taking advantage of automated market-making liquidity pools, which simplify supplying liquidity to a marketplace.
Higher LP APY: Because of a rise in trading conducted thanks to extra arbitrage scenarios and less money lost to miners, liquidity providers receive more compensation.
Strong Incentives: To incentivize participation during the beginning of the process, liquidity mining rewards are offered.
Liquidity Mining
The rollout of IDEX Hybrid Liquidity is the first occasion when automated market makers can be traded via an order book. To promote the expansion of IDEX HL pools, IDEX intends to implement a liquidity mining program. IDEX tokens will be dispensed in proportion to the liquidity each user gives, related to the total liquidity on IDEX.
The liquidity mining rewards will commence at the same time as IDEX HL takes off. This liquidity mining program will be improved continuously, including the addition of new pools, to aid us with our liquidity targets.
The register of backed pools will be made accessible on the exchange platform prior to launch.
Staking
It is possible for traders, market makers, and aficionados of IDEX to be part of the IDEX system by staking. They need IDEX tokens and the IDEXd staking software to do this. As a reward for performing this task, they will receive 50% of the trading fees collected by the network.
Staking node operators are responsible for keeping a real-time version of the IDEX order book and other data, and they must also provide a public-facing REST API endpoint. This aids the IDEX costs by transferring popular API operations. Furthermore, running a staking node does not require the use of bonds, therefore giving users a risk-free staking experience with no possibility of slashing.
There are two ways in which IDEX holders can partake in staking.
How Much Are IDEX crypto exchange Fees?
IDEX HL utilizes the following expense structure.
| Trade Type | Maker | Taker | Pool Earning | Protocol Earning |
| Limit | 0% | 0.25% | N/A | 0.25% |
| Pool | 0% | 0.25% | 0.20% | 0.05% |
Takers are charged the same rate of 0.25%, no matter the sort of liquidity matched against them. They don’t have to be concerned about or recognize between different liquidity sorts since the effect on them is the same. When taking a limit order liquidity, all of the 0.25% taker expense is gathered as protocol fees.
When taking pool liquidity, 0.20% of the expense is given to the pool as remuneration to liquidity suppliers. The leftover 0.05% is accumulated as protocol fees. For a restricted time, maker fees have been set to 0%.
Gas Fees
IDEX HL automatically manages the costs of using the Ethereum network, so users don’t need to worry about failed trades and front-running attacks. When sending money to the IDEX smart contracts, users pay the required gas fees directly.
Each subsequent transaction (trades, withdrawing liquidity, and withdrawing funds) will deduct the gas required to settle the transaction from the user’s account, similar to when trade fees are collected.
Trade Settlement – The payee is responsible for the fee. The cost is calculated based on the current gas price and is subtracted from the asset amount received by the payee.
Withdrawal – The fee is determined by the current gas price and is subtracted from the asset amount sent to the wallet. Refer to this page for more information regarding IDEX withdrawals.
Liquidity Addition & Removal – The trading engine sequences and dispatches liquidity changes from IDEX and the gas fee must be reimbursed. The fee is determined based on the current gas price and is taken from the reserve amounts for the addition or removal.
IDEX Exchange Reviews 2023
IDEX crypto exchange has become a popular choice for traders and investors looking to buy and sell Ethereum-based tokens and assets. According to reviews, users of the exchange appreciate its low fees, fast transactions, and ease of use.
IDEX exchange has also received positive reviews from professional traders, who appreciate its trustless model and the ability to trade directly from their wallets. The exchange is also known for its high liquidity, as it is one of the largest Ethereum-based exchanges in the world.
Overview & History of IDEX Exchange
IDEX is a decentralized Ethereum-based exchange that allows users to trade Ethereum-based tokens and assets in a secure and trustless manner. It was founded in 2017 by a team of experienced developers and has since become one of the longest-running Ethereum-based exchanges in the world.
IDEX crypto exchange has become a popular choice for traders and investors looking to buy and sell Ethereum-based tokens and assets. It is known for its high liquidity, low fees, and excellent security. The exchange is also powered by the Ethereum blockchain, which enables fast and secure transactions.
Who Are the IDEX Founders?
Alex and Phil Wearn are the creators of IDEX. Previously, the siblings had experience working for big companies such as Amazon, IBM, and Adobe. All in all, the IDEX team has more than 30 individuals in its ranks.
When Did IDEX Launch?
This trading platform was introduced in 2017 and was upgraded to version 2.0 in the autumn of 2020 after IDEX managed to secure funding of $2.5 million for its seed round.
Where Is IDEX Located?
According to LinkedIn, the trading exchange platform is located in Panama.
IDEX Restricted Countries
IDEX follows strict sanctions and anti-money laundering regulations. Transactions from people in Iran, North Korea, Cuba, Syria, Crimea, New York State, and Washington State are not permitted. Additionally, all customers must go through a Know Your Customer (KYC) procedure.
IDEX Supported Coins List
The marketplace facilitates futures trading of the primary cryptocurrencies and Ethereum-based tokens.
Is It Possible To Use Leverage or Margin Trade on IDEX?
The exchange is presently engaged in allowing margin trading at a later stage.
IDEX V3
IDEX v3 is thought to be the most sophisticated and competent spot order book DEX available in the market. Drawing from our experience developing the hybrid architecture, v3 introduced AMM liquidity pools as another source of liquidity.
By using this system, everyday users can now offer their liquidity automatically, which is then combined with limited orders from other consumers and professional market makers.
The effect on our expansion and usage was remarkable. Since the launch, we have observed $1.2 billion in aggregate volume, 1.3 million transactions, and in excess of 34,000 distinct users. IDEX v3 currently records approximately $20M of daily volume, which is 10 to 20 times more than the next closest spot order book DEX rival.
Not being complacent with our accomplishments, we are taking this energy to the following, even bigger venture.
IDEX v4 – Decentralized Perpetual Swaps
IDEX V4 is a decentralized perpetual futures-swapping exchange that applies a mixture of on-chain and off-chain methods for users to have an exceptional derivatives trading experience. The off-chain component is the powerful trading motor, enabling IDEX to match the speed and user-friendliness of centralized exchanges. On-chain, traders benefit from the security of self-custody and verifiable transaction data.
The major advantages of IDEX V4 include instantaneous processing, gas-free order placement and cancellation, competent API integration, smart contract custody, and permissionless withdrawals. This empowers users with a hassle-free and secure trading experience. For more details about the IDEX V4 and its development status, please visit the following links.
IDEX v4 Development Updates — January 2023
We do not have an answer available to the query “When v4?” as that would mean that we had the capability to forecast stock trading, horse racing, or any similar jobs. Nonetheless, we can share the fact that the team has been working diligently for the last several months and has achieved noteworthy advancement in numerous essential areas.
IDEX v4 includes improvements to numerous of our pre-existing services and the integration of new parts specifically for perpetual contracts. We are following a simultaneous design and development approach which permits us to construct all parts of the system at the same time.
Go through the quick summary of our accomplishments so far provided below.
Roadmap
They are delighted to share the timeline of IDEX V4 – a decentralized perpetual swaps exchange – to be launched soon. Although, the mentioned dates in the roadmap may be subject to change due to some external factors or new advancements.
They will keep you updated about the progress of IDEX V4 and appreciate your understanding and support. They are very grateful for your preference for IDEX and are thrilled to bring you to the next level of decentralized perpetual swaps trading.
Development Progress
Smart Contracts
Smart contracts grant safety for clients’ deposits and make use of cryptographic proof for all transactions, capital transfers, and liquidations.
Web UI
The web user interface is the customary trading platform utilized by customers to connect with the exchange.
API
The Application Programming Interface (API) facilitates algorithmic traders and market makers to link directly to the exchange, and it is the source of data and communication for the WEB User Interface (UI).
Trading Engine
The trading engine is responsible for managing all orders, and when orders match, it will execute the relevant trading activities.
Order Book Service
The order book feature includes all of the pending purchases and sales on the exchange and makes them available to the API and trading system.
Auto Deleveraging (ADL) Service
The ADL system will automatically terminate advantageous positions that have under-collateralized positions when they cannot be shut down through the trading order.
Liquidation Service (LS) & Insurance Fund (IF)
The LS keeps a record of the active positions, discovers those that lack the minimum margin requirement, and liquidates those positions that are not collateralized enough on the platform.
Index Price Service
The index value is based on the current prices of principal trading markets and is used to work out funding costs and trigger liquidations.
Read: What Are Decentralized Exchanges, And How Do DEXs Work? 20 Best Decentralized Exchanges For 2023
IDEX Exchange Key Features List
IDEX offers its users a wide range of features, including the ability to buy and sell tokens, place limit and market orders, and trade with leverage. Here is a list of the key features of the IDEX Exchange:
- No Compromises: You can participate in trading with no fees and deep market liquidity, and make use of more advanced order types, for example, limit and stop-loss orders. Additionally, you can earn revenue by simply providing liquidity with a single click.
- Peak Performance: A sophisticated trading program offers efficient and instantaneous implementation, eliminating the chances of unsuccessful transactions, front-running, and large price discrepancies.
- Freedom & Security: Synchronize your wallet and then commence trading without relinquishing command of your money. Quantstamp has conducted an exhaustive audit.
- Stake & Earn: Invest in IDEX in order to strengthen the exchange’s trading capabilities and receive 50% of all transaction fees.
- Advanced API: Through its standardized Application Programming Interface, IDEX makes it simple to incorporate your trading software into its system with virtually no delay.
- Launchpad: IDEX is the optimal place to develop a project. It’s simple to generate liquidity in order to initiate your market and continue the trend as more experienced traders and industry members join in.
- High liquidity: IDEX is one of the largest Ethereum-based exchanges in the world, and is known for its high liquidity.
- Low fees: IDEX has some of the lowest fees of any Ethereum-based exchange.
- Trustless model: IDEX does not require users to deposit their funds into the exchange in order to trade, and instead allows them to trade directly from their own wallets.
- Fast transactions: IDEX is powered by the Ethereum blockchain, which enables fast and secure transactions.
- Leveraged trading: IDEX allows users to trade with up to 5x leverage.
- Limit and market orders: IDEX allows users to place limit and market orders.
Pros and Cons List of IDEX Exchange
IDEX is one of the longest-running Ethereum-based exchanges in the world, and it has become a popular choice for traders and investors looking to buy and sell Ethereum-based assets. Here is a list of the pros and cons of the IDEX Exchange:
Pros
- High liquidity: IDEX is one of the largest Ethereum-based exchanges in the world, and is known for its high liquidity.
- Low fees: IDEX has some of the lowest fees of any Ethereum-based exchange.
- Trustless model: IDEX does not require users to deposit their funds into the exchange in order to trade, and instead allows them to trade directly from their own wallets.
- Fast transactions: IDEX is powered by the Ethereum blockchain, which enables fast and secure transactions.
- Leveraged trading: IDEX allows users to trade with up to 5x leverage.
- Limit and market orders: IDEX allows users to place limit and market orders.
Cons
- A limited selection of tokens: IDEX only supports Ethereum-based tokens and assets.
- No fiat currency support: IDEX does not support fiat currencies, and users must use cryptocurrencies to trade.
IDEX Exchange Fees and Limits
IDEX offers its users some of the lowest fees of any Ethereum-based exchange. The exchange charges a 0.2% trading fee for all trades and does not charge any deposit or withdrawal fees.
IDEX also has some of the lowest withdrawal limits of any Ethereum-based exchange. Users are able to withdraw up to 50 ETH per day, and up to 200 ETH per month. These limits may vary depending on the user’s account activity and security settings.
IDEX Exchange Security
IDEX is one of the most secure Ethereum-based exchanges in the world. The exchange follows the traditional decentralized model of trading, which means it does not require users to deposit their funds into the exchange in order to trade. Instead, users are able to trade directly from their own wallets.
The IDEX platform is powered by the Ethereum blockchain, and its users can benefit from the security, transparency, and immutability of the Ethereum network. In addition, the exchange also implements various security measures, such as two-factor authentication, cold storage of funds, and secure encryption of user data.
How to Use the IDEX Exchange
Using the IDEX Exchange is simple. After signing up for an account and linking your Ethereum wallet, you will be able to access the IDEX decentralized exchange and start trading.
When you place an order on IDEX, it is stored on the Ethereum blockchain and broadcast to the IDEX network. The order is then matched with other orders in the order book, and once it is filled, the Ethereum blockchain automatically executes the transaction and updates the order book.
The IDEX platform also offers its users a wide range of features, such as the ability to buy and sell tokens, place limit and market orders, and trade with leverage. There are also tutorials available on the IDEX website to help users get started.
How to Connect Your Ledger Hardware Wallet to IDEX
Step 1 – Connect Metamask to your
- Unlock your Metamask
- Choose the symbol in the upper right-hand corner of Metamask and then opt to Link a Hardware Wallet.
- Select Ledger and click continue
Important steps:- Ensure that your Ledger is up to date with the most recent firmware version.
- Navigate to the Settings tab and make sure that the “Browser Support” and “Contract Data” options are set to “Yes”.
Enter your pin code to unlock the Ledger. - Select the account you wish to access, then click the unlock button.
- When you successfully link your account, it will function in the same way as any other MetaMask account, except that you need to have your wallet attached in order to approve transactions or prompts.
How to Connect Your Metamask Account to IDEX
Step 1 – Install MetaMask: Install MetaMask running on your web browser and follow the instructions to finalize the configuration.
Step 2 – Unlock Wallet: To link your Metamask account, first go to the website https://exchange.idex.io and then press the “Unlock Wallet” button located in the top right corner.
Step 3 – Sign into MetaMask: Make sure you are signed in to MetaMask if you haven’t already.
Step 4 – Select MetaMask Method: After making sure MetaMask is unlocked, go to the “Access your Wallet” section and click on “Software Wallet”. After that, press “Unlock”.
Step 5 – Unlock: Well done! You have successfully logged into IDEX and you can now add tokens to your account. Once you have added it, you can begin trading!
How to Connect You Private Key/Keystore on IDEX
Step 1 – Unlock Wallet: To access the IDEX exchange, go to https://exchange.idex.io. In the top right corner, click “Unlock Wallet” and you will be presented with the option of selecting either a “Keystore File” or “Private Key”.
Step 2 – Keystore Method: Go to the option that says “Select Wallet File” and look for the Keystore file. After finding it, type in your password and press the “Unlock” button.
Step 3 – Private Key Method: Put the secret key in the box and press the “Unlock” button.
Well done! You have now successfully logged in to IDEX, so you can deposit tokens. As soon as you have transferred them, you are all set to start trading!
Where Can You Buy Idex (IDEX)?
IDEX can be accessed through Binance, Uniswap V2, Gate.io, and Balancer platforms.
How to Buy and sell on IDEX Exchange
Buying on IDEX is easy. All you need to do is Make sure you have connected your wallet to IDEX and deposited funds to your IDEX account. Once you have done this, you will be able to access the IDEX decentralized exchange and start trading.
Step 1 – Ensure that your wallet is linked to IDEX and that you have moved money into your IDEX account.
Step 2 – Find the market where you would like to carry out trading. Choose “Limit” from the list of options in the “Type” dropdown menu. Enter the price you want to pay/receive for the asset as well as the amount you wish to purchase/sell.
Step 3 – After you have submitted the order information, press the purchase or sale button. Your restricted order will now be visible in the “Active Orders” part.
Note:- If you are utilizing MetaMask or Ledger, you need to give permission to the limit order. MetaMask will show you a permission popup whereas the Ledger device will show the transaction you need to approve on its screen.
Step 4 – This requested purchase will remain on the list of orders until it is fulfilled. Once the order is accomplished, the transaction will be transmitted to the Ethereum network so that it can be settled.
To check the status of the trade, select “My Activity” from the top bar.
- If the exchange has not been transmitted to the blockchain, it will be indicated as “Pending”.
- When it is transmitted and awaiting to be mined, it will display as “Processing”. By clicking the link, it will take you to the transaction information on Etherscan.
- Once it is mined, the status will be updated to “Complete” and you can click the link to view the details on Etherscan.
IDEX v3 – How to Adding Liquidity
Step 1 – Make sure you have some MATIC stored in your wallet in order to cover the fee for generating Liquidity Pool (LP) tokens.
Note: You can either use money from your wallet or money that is already on IDEX to generate LP tokens. For the ideal user experience, it is strongly recommended to deposit the money to IDEX before making LP tokens.
Step 2 – Link your wallet to IDEX with one of the available choices.
Step 3 – After establishing the connection to your wallet, you can access the ‘Liquidity’ page by selecting it in the navigation bar.
Step 4 – Afterwards, press the “Add Liquidity” button and pick the set of assets you desire to provide liquidity for.
Step 5 – Once you have chosen the pair you would like to provide liquidity for, input the amount you want to add. It is important to note that you will need to approve both the tokens involved in the transaction before you can click on the “Supply” button.
Step 6 – On the following page, verify your numbers and press the “Confirm Supply” button to complete the liquidity process.
Step 7 – Remain patient until your transaction is processed.
Step 8 – After your transaction is successfully processed, you must wait for 128 blocks to receive your LP tokens.
Step 9 – Once you have gone through the process of 128 blocks, your LP tokens will be sent to your wallet, and you will be able to utilize them for farming IDEX.
Remove liquidity (LP)
Step 1 – Be sure that you have some MATIC coins in your wallet since you will be charged gas fees when generating LP tokens.
Step 2 – Connect your wallet to IDEX by selecting one of the available options.
Step 3 – Access the “Liquidity” page by utilizing the menu bar at the top. When you are on the Liquidity page, choose the LP pair you desire to reclaim. Press the “Remove” button.
Step 4 – On the following page, begin by selecting the “Approve (LP Token Name)” option and grant authorization in your wallet.
Step 5 – Input the redemption amount that you wish to get and then pick either “Withdraw to balance” or “Withdraw to wallet”. Then confirm the transaction using your wallet.
Withdrawing to balance will transfer the funds to your IDEX balance and after that, you can start trading on IDEX without having to complete any more transactions. Withdrawing from your wallet will send the funds back to your wallet that is external to IDEX. This is helpful when you desire to send the resources to a different address.
Step 6 – After your LP removal is mined, it will take 128 blocks for it to be confirmed.
How to: Liquidity Mining (Farms)
Step 1 – Double check that your LP tokens are placed in the wallet you will be connecting to IDEX. Additionally, be sure to have some MATIC in your wallet to cover the charge needed to deposit into the farms.
Step 2 – Go to the top right-hand corner and click “Unlock Wallet”, then use any of the available methods to open your wallet.
Step 3 – Locate the farm of your preference and click “Approve Contract” and confirm the transaction on your wallet.
Step 4 – Once the validation of the transaction has been completed, click on “Stake LP” and enter the number of your LP tokens that you intend to cultivate. When you are ready, press “Confirm” and authorize the transaction in your wallet.
Step 5 – After your transaction has been verified and processed, you are now engaged in the activity of IDEX farming!
Remove LP tokens from farms
Step 1 – Be sure that you have some MATIC coins in your wallet as you will require them to cover the gas cost when taking them out from the farms.
Step 2 – Go to the top right corner and press on the “Unlock Wallet” button. Afterward, access your wallet by selecting one of the available options.
Step 3 – Go to the farm from which you want to take out your LP tokens.
Step 4 – Click on the “Minus” icon and enter the number of LP coins you want to take out. Then press “Confirm” and accept the transaction in your wallet.
Step 5 – After the transaction has been verified and processed by the blockchain, the LP tokens will be transferred to your wallet.
What Makes Idex Unique?
IDEX has created a special system that merges an order book style with an automated market maker. Trades are managed externally, replicating the speed of centralized exchanges and guaranteeing that trades are conducted in the correct order. As soon as a trade is completed, the transaction is settled on the blockchain.
The advantage for users is that they don’t need to pay extra fees for orders that are placed or canceled. Additionally, orders are processed promptly, allowing for sophisticated trading tactics like fill-or-kill, post-only, and stop-loss.
The automated market maker is responsible for providing liquidity by displaying virtual limit orders with the real ones in the order book so that the liquidity of the AMM can be viewed. Generally, orders are settled as only AMM or a fusion of the AMM and limit order liquidity.
The IDEX platform utilizes smart contracts to decentralize the control of funds and the completion of trades. Off-chain trading is enabled by the smart contract and on-chain settlements are carried out with a delay. The smart contract functions as a custodian, preventing the transfer of funds until the transaction is finished.
The processing of trades is done in an orderly manner, and a particular feature of the smart contract stops the limitation of funds from being prolonged. Furthermore, the smart contract is responsible for enforcing ownership and permission, allowing users to remain in charge of their funds and make markets without additional equipment.
IDEX Exchange Wallets
IDEX is a decentralized exchange, and as such, it does not require users to deposit their funds into the exchange in order to trade. Instead, users are able to trade directly from their own wallets.
The IDEX platform is powered by the Ethereum blockchain, and as such, users must have an Ethereum wallet in order to trade. The most popular Ethereum wallets are MetaMask, MyEtherWallet, and Coinbase Wallet.
IDEX Exchange Chart and Analysis
IDEX is one of the longest-running Ethereum-based exchanges in the world, and it has become a popular choice for traders and investors looking to buy and sell Ethereum-based tokens and assets. The exchange is known for its high liquidity, low fees, and excellent security.
Looking at the IDEX Exchange chart, we can see that the exchange has seen a steady increase in trading volume over the past few months. This is likely due to the increasing popularity of Ethereum-based tokens and assets, and the increasing demand for these assets.
IDEX Exchange Trading Volume
The IDEX Exchange has seen a steady increase in trading volume over the past few months. This is likely due to the increasing popularity of Ethereum-based tokens and assets, and the increasing demand for these assets.
Looking at the charts, we can see that the IDEX Exchange has seen a steady increase in its trading volume since its launch in 2017. This is likely due to the increasing popularity of Ethereum-based tokens and assets, and the increasing demand for these assets.
The IDEX Exchange is also known for its high liquidity, low fees, and excellent security, which is likely contributing to its increasing popularity.
So if you are looking for a secure and trustless platform to buy and sell Ethereum-based tokens and assets, then the IDEX Exchange is a great option. With its low fees, high liquidity, and excellent security, it is no wonder why the IDEX Exchange is going up.
Why is IDEX Exchange Going Up?
The IDEX Exchange is going up for a number of reasons. Firstly, IDEX is one of the longest-running Ethereum-based exchanges in the world, and it has become a popular choice for traders and investors looking to buy and sell Ethereum-based tokens and assets. The exchange is known for its high liquidity, low fees, and excellent security.
Another reason why the IDEX Exchange is going up is due to the increasing popularity of Ethereum-based tokens and assets, and the increasing demand for these assets. This is likely due to the increasing number of decentralized applications and platforms that are being built on the Ethereum blockchain.
The IDEX Token
The IDEX Token (IDEX) is a utility token that is used to access the features and services of the IDEX Exchange. It is an ERC-20 token, and it can be used to pay for trading fees, access premium features, and receive discounts on trading fees.
The IDEX Token is also used to reward users for their contributions to the IDEX platform. For example, users who trade on the platform will be rewarded with a certain amount of IDEX tokens.
How Many Idex (IDEX) Coins Are There in Circulation?
The amount of IDEX available is one billion tokens, with the following breakdown:
40% for market maker payouts, promotions, and airdrops; 10% for IDEX members; 25% for the team; 10% for future staff; 10% for future use; and 5% for business costs. People who are in possession of at least 10,000 IDEX tokens can run a lightweight node and stake them.
How much is an IDEX Token? (As of January 06, 2023)
| Maximum Supply | N.A |
| Total Supply | 1 Billion |
| Circulating Supply | 673,858,613 IDEX (67.38% of Total Supply) |
| Token Price | $0.3838 |
| Market Cap | $25.764 Million |
Conclusion
IDEX is a decentralized Ethereum-based exchange that allows users to trade Ethereum-based tokens and assets in a secure and trustless manner. It is one of the longest-running Ethereum-based exchanges in the world and is known for its high liquidity, low fees, and excellent security.
The IDEX Exchange offers its users a wide range of features, such as the ability to buy and sell tokens, place limit and market orders, and trade with leverage. The exchange is also powered by the Ethereum blockchain, which enables fast and secure transactions.
In addition, the IDEX Token (IDEX) is a utility token that is used to access the features and services of the IDEX Exchange. It is an ERC-20 token, and it can be used to pay for trading fees, access premium features, and receive discounts on trading fees.
IDEX Community Important Link Below:
IDEX FAQs
How Is the Idex Network Secured?
IDEX is an ERC-20 token on the Ethereum blockchain. Quantstamp, a well-known blockchain security firm that has collaborated with esteemed projects such as Maker, Avalanche, and Compound, has conducted an audit of the DEX and verified that it fulfills its high safety standards and has not encountered any hacker attacks.
ERC-20 is a token standard that is usually adopted by new tokens when they are introduced on the Ethereum blockchain. Ethereum is one of the most popular blockchains and is used by many decentralized programs and exchanges to launch.
It is secured by a proof-of-stake consensus protocol that necessitates validators to stake 32ETH to validate the network. A group of decentralized nodes confirm transactions and protect the Ethereum blockchain.
Can IDEX Hit $1?
Recently, the combination of a trading book and an AI-driven market maker has caused IDEX’s value to skyrocket from less than a dime to its record peak of above sixty cents. Now, the rate has dropped to 30 cents at the time of writing. Despite this, with more launches on primary and secondary blockchains and a better product, Idex may sustain its trajectory for the long term.
What’s the difference between Replicators and Validators?
Replicators and Validators are both nodes that involve staking, however, the former distributes API data while the latter audits transactions. To become a Replicator, an individual must deposit a minimum of 10,000 IDEX either in the IDEX network or wallet and be protected from penalties.
The minimum stake for Validators is yet to be determined and must be transferred to the staking contract. Both nodes are given the opportunity to earn IDEX trading fees, but Validators have the added advantage of earning fraud bounties.
Is IDEX a safe exchange?
IDEX provides a secure platform for users, utilizing encryption technology to ensure their financial assets remain protected.
Is IDEX a legit company?
IDEX offers full protection of users’ assets with encryption technology used to ensure the secure storage of their money.
Is IDEX a good crypto?
IDEX Exchange is one of the most secure platforms to carry out trading activities without any need to deposit or withdraw money. IDEX Exchange is one of the most secure platforms to carry out trading activities without any need to deposit or withdraw money.
What is IDEX crypto used for?
IIDEX crypto is used for decentralized cryptocurrency trading, allowing users to trade digital assets securely and trustlessly on the Ethereum blockchain. It allows users to trade multiple tokens simultaneously and provides access to real-time market data, advanced order types, and a high level of security.
What is the future of the IDEX coin?
The future of the IDEX coin will depend on the continued development of the IDEX platform and the adoption of the coin by users. The success of the platform will likely depend on its ability to keep up with current trends in decentralized exchange technology and to remain competitive in the market for digital assets.
Does IDEX Require KYC?
Those who have signed up with the IDEX Exchange don’t need to do Know Your Customer (KYC) for deals valued at less than $5000, and they can carry out trades using their wallet address details. All trades of over $5000 necessitate the user to submit a self-photo.
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