IDEX Non-Custodial Exchange Raises $ 2.5 Million to Launch Updated Platform
Non-custodial cryptocurrency exchange IDEX raised $ 2.5 million during the initial fundraising round to restart the trading platform. Him participants were G1 Ventures, Borderless Capital, Collider Ventures and Gnosis.
Funding received will be be used for further product development, marketing and customer base expansion. According to the developers, IDEX 2.0 will combine the performance of a centralized exchange with the security of a decentralized one..
The developers intend to adapt the exchange infrastructure in such a way way, so that it can effectively enjoy market makers using their own software and strategies. Previously liquidity was one of major obstacles to attracting users.
Besides Togo, stock exchange promises to provide low delays in order execution and support for advanced order types, as well as implement a matching engine applications, able to handle hundreds thousand hits per second.
The development of a new version of the platform has been underway since January 2019 of the year. Its release is scheduled for next month..
The space for decentralized exchanges cryptocurrencies in last thing time is experiencing increased interest from traders. In July, the total volume trades on such sites for the first time exceeded $ 4 billion. A leader is an Uniswap with shares at 41%, followed by Curve and IDEX.
IDEX hopes to gain a competitive edge over Uniswap and other platforms using automated market making systems, but excluding support for order books. By words developers, this approach is extremely ineffective for ordinary market makers, then how the IDEX 2.0 experience this context will be closer to centralized exchanges.