IDEX Coin Price & Market Data
IDEX price today is $0.299654 with a 24-hour trading volume of $23,869,231. IDEX price is up 0.5% in the last 24 hours. It has a circulating supply of 590 Million IDEX coins and a total supply of 1 Billion. If you are looking to buy or sell IDEX, Binance is currently the most active exchange.
What is IDEX?
IDEX is the governance token for IDEX. Users can stake the tokens to earn a percentage of trading fees on the exchange.
How to obtain IDEX?
What is IDEX?
IDEX is a Decentralized Exchange (DEX) running on Ethereum and Binance Smart Chain (BSC). Unlike the Automated Market Market (AMM) based exchange that dominates the crypto scene, IDEX is an orderbook DEX.
IDEX lets users keep control of their funds at all times. Hence it is self-custodial. Since many truly decentralized exchanges are slow and have low volumes, IDEX centralizes the system that matches orders for a better user experience.
Users need to register with an email address and undergo the Know Your Customer (KYC) process to use the exchange. So it is a grey area to categorize IDEX as a DEX or just a non-custodial exchange. Other exchanges that follow the same path include Nash Exchange.
IDEX aims to match centralized exchanges’ performance as it ramps up its platform to enable hundreds of thousands of transactions per second. IDEX is exploring Optimistic Rollup L2 solution in Ethereum. At the same time, IDEX BSC can scale up using off-chain infrastructures such as a high-performance matching engine, instant execution, and protection against front-running. IDEX BSC also supports the kind of advanced orders ordinarily available only on centralized exchanges such as ‘stop-loss’ and ‘take-profit’.
The team is planning to launch at Polkadot as well as part of their vision of IDEX Multichain.
What are the fees incurred from using IDEX?
IDEX charges 0.2% for the market taker and 0.1% for the market maker. Market takers do not have to pay gas fees.