1/ IDEX 2.0 drops on Oct 20th! 2.0 is so much more than scaling: it's the top-tier trading experience traders demand, with low-latency, hundreds of thousands of TPS, advanced order types, etc. All without sacrificing non-custodial fund management that is the base of every DEX.
In 2018 Ethereum miners earned $148M in gas fees, and IDEX users paid $4.4M of them! We talk about how we’re scaling IDEX to reduce gas costs and more in our Q1 update:
#ethereum
#IDEX
$AURA
Part of why we chose Polygon's zkEVM stack, secure/affordable L2 settlement plus built-in fast bridging to every other app that uses it. Getting money in/out of an app-chain was one of our big concerns, and this fixes it.
How do we fix the “walled garden” issue in existing appchain ecosystems?
Until now, liquidity has either been fragmented, or these ecosystems are interoperable but saddled with friction.
Polygon CDK (Chain Development Kit) fixes this.
Avi hot take on the best zkEVM implementation:
“I have a lot of faith that the
@0xPolygonLabs
team is actually going to roll out a very robust solution, and they’re about 18 months ahead of everyone else.”
Came to the same conclusion in our research which is why we’re launching
We know it’s bottom because:
- I’m tweeting
- 1000x is finally back
- Jonah left crypto to go trade oil
In this episode we talk about basically everything and explain how to make infinite money
1/ Just 24 hrs after launch of IDEX v3 hybrid liquidity and we’ve passed $12M on both trade volume and TVL!
Thought it would be fun to share a bit about the last 48hrs launching the dApp, ups and downs, etc.
A thread 👇
1/ A few weeks ago
@ethereumJoseph
and
@jimmysong
formalized a long-standing bet around future
@ethereum
DApp usage. As the top DEX/DApp, we at
@idexio
know a bit about measuring DApp adoption, so we thought we'd weigh in with some thoughts/advice.
1/ I love hardware wallet security, but I’ve lost years of my life clicking to approve transactions.
Now imagine trying to ladder bids/asks on the order book (a nightmare), or automate that via a trading terminal (impossible).
IDEX v4 authorization keys solve this.
Web traffic dynamics of decentralized trading platforms in July comparing to June. Despite significant increase of the traffic none of the DeFi platforms have reached the level of top 20 centralized exchanges.
In addition to commanding 60% of current DEX market share, IDEX has now passed Ether Delta for most trades all-time! Super proud of the team and thankful for our supportive community.
#ethereum
#IDEX
$AURA
1) Today we at
@idexio
announced our plans for XCHAIN, a zkEVM Layer 2 built specifically for IDEX.
What?
Didn’t you just announce Layer 3?
Is this just the latest buzz word?
1/ There is a lot of excitement about different “rollup” designs as a solution to ETH scaling. We wanted to share some perspective on how our new solution, Optimized Optimistic (O2) Rollup, and the
@plasma_group
's Optimistic Rollup compare to each other.
@Callisto_Audits
@idexio
Thanks for the audit! We launched our new version in October with a ton of upgrades, including addressing the transfer function issue. Audit by Quantstamp but feel free to take a look!
To fully address last week's news of
#IDEX
's IP blocking, here is an in-depth look at the current industry regulations that
@aurora_dao
is considering as we decentralize our network. ()
#blockchain
#fintech
#ethereum
Don't listen to the people telling you to use a DEX. What you're actually looking for is a hybrid DEX, like
@idexio
. All of the good of centralized exchanges (real-time trading, no front-running, etc.) without the custody risk.
Every two days the
@idexio
staking network earns more revenue than all of the fees collected in $zrx during the first 1.5 years of the 0x Protocol $IDEX
#Tokenomics
$IDEX stakers are earning over $2k per day! The eleventh IDEX staking period netted stakers 102.48725 ETH with a USD value of over $31,000!
#ethereum
#IDEX
1/ In early 2019,
@idexio
went live with the first iteration of its staking network. Today stakers earn 25% of the trade fees from IDEX (in ETH) for their role in helping run the platform. Over 1,600 ETH has been paid out with a market value of ~$320k USD at the time of payment.
This is a great example of why we chose a polygon cdk L2 for idex. If the network you’re on allows any and all types of transactions you never know what crazy thing will price users out of your app.
It's a great day for a product announcement 🚀! We're thrilled to share that the IDEX 2.0 API sandbox is now live. Bring your bots (in hours, not weeks) and let's get ready for 2.0 mainnet! Learn more:
gm GOATs, back at you with another
@idexio
weekly update!
ETH Denver was a huge success as we created some awesome momentum with the community around our upcoming launch. We also officially rolled out our Horny plushies, which was met with a bit of a Horny frenzy. CT degens in
gm GOATs, it’s the
@idexio
weekly update coming at you from Denver Colorado!
With the tech almost ready, we’ve spent our time in Denver evangelizing our upcoming launch to market makers, whales, and influencers. We’re focusing all of our efforts on making sure there are
@CrytoCoins
@idexio
Hey
@CrytoCoins
thanks for showing your support, we're in touch with the Unibright team, please give us time to review. We hear you and aim to give our customers what they want.
Great read on some of the pitfalls of on-chain trade execution. Really hammers home how IDEX/
@Aurora_dao
's hybrid approach not only provides a drastic UX improvement but also protects consumers by enforcing fair and honest markets.
Just published "Flash Boys 2.0: Frontrunning, Transaction Reordering, and
Consensus Instability in Decentralized Exchanges" -
Key takeaways and some pretty graphs below! 👇
Last week, NEAR Co-Founder
@ilblackdragon
was touched on the arm by Jensen Huang, Founder of
@nvidia
💻
They were joined on stage by the other co-authors of "Attention is All You Need".
Learn about that touch and the intersection of AI and blockchain:
A sneak peak of our highly-anticipated $AURA staking software—AuraD! Starting January 8th, users will be able stake AURA and earn fees collected by
#IDEX
. Learn more:
#AuraD
#masternodes
#staking
GM GOATs 🐐
Checking in to provide a quick
@idexio
update while we’re in the arena trying things (delicious street food) 🇸🇬👇
Our developers are on fire and shipping relentlessly. We've shifted to a fast-paced, weekly sprint cycle to facilitate quicker implementation and
gm GOATs, it’s time again for the
@idexio
weekly update!
We’re almost done upgrading the testnet to support integration with Polygon’s AggLayer. We expect this will be done tomorrow, at which point we’ll work to re-deploy our contracts, integrate them with our staging
gm GOATs, it’s time again for the
@idexio
weekly update.
The big news is that we’ve upgraded our testnet to the latest version of Polygon CDK! This was a major process that adds new functionality and has unblocked engineering to make the final preparations for opening up the app
gm GOATs! Time for another
@idexio
weekly update. These are the remaining items we're tracking before opening up the Testnet to Market Makers.
✅ Trading engine updates - DONE
✅ Contract Changes - DONE
✅ Liquidation service updates -DONE
☑️SDK updates - Round 3 of changes
We at
@idexio
are starting back up our weekly updates as we prepare to open up our testnet. A bit of context:
• Market makers are the first group of users we will onboard to the public testnet. We need their liquidity in place before we can start the other initiatives we have
gm GOATs, it’s time again for the
@idexio
weekly update!
We’ve finished upgrading our Testnet to support integration with Polygon’s AggLayer. As part of this process we’re now generating and validating ZK proofs on our Testnet transactions (the proofs are necessary for AggLayer
Let's peng this again.
We're giving away our 1.5Ξ+
#PudgyPenguins
Pengu
To enter:
1. Follow, Like, & RT
2. Tag at least 2 friends in replies
3. Join
⏳ We'll announce the winner in Discord on Monday.
GL!
Has anyone built a bridge aggregator? i.e. I want to get from ETH to Optimism, what bridge will give me the best exchange rate (and ideally consider gas costs if those differ too).
gm GOATs, it’s time again for the
@idexio
weekly update!
As we discussed last week, our primary focus is addressing some underlying RPC performance issues. We are pursuing two paths:
✅ Scaling up available RPC nodes - DONE. Initial tests suggest this is sufficient to start the
gm GOATs, it’s time again for the
@idexio
weekly update!
The last week has been all about performance, dialing in the configuration to make sure the testnet meets our needs on throughput and reliability. I’m happy to share that as of today the testnet is exceeding our benchmark
Decentralization is not about lawlessness, it's about creating a system where the rules are clearly defined and participants are rewarded for good behavior. Learn how
#IDEX
will achieve this with $AURA staking: w/
@RobertBeadles
#blockchain
@MoonOverlord
We just launched IDEX on bsc, check it out if you haven’t already, I’m obviously biased but I think it’s the best dex experience out there.
1/
@0x_Lucas
did a great analysis for
@RyanSAdams
and bankless covering DeFi protocol valuations, but they left out the best of all,
@idexio
. At current volume levels, annualized protocol earnings of ~$1M lead to a PE of 16, 3.5x better than the lowest in the report, bancor.
People chasing yield via airdrops of new and unproven tokens, meanwhile
@idexio
cranking out $600k (soon to be $1.2M with IDEX 2.0) in annual ETH payments to stakers.
gm GOATs, it’s time again for the
@idexio
weekly update!
The sandbox environment deployment and configuration is complete, and everything is looking great. We’ve got the entire team in there trying to break it and it’s handling everything we throw at it like a champ. It’s also
gm GOATs, it’s time again for the
@idexio
weekly update!
tl;dr we’ve now opened up the testnet to our strategic MM partners so they can start integrating!
We’ve been heads down the past few weeks with our entire team testing and (unsuccessfully) trying to break the application.
Loved this comment from
@QwQiao
on the latest Good Game episode wrt crypto mobile apps:
"If you need a lot of security then desktop, otherwise mobile….for me as a user, I wouldn't trade a lot of volume on mobile because…I need to trade from my hardware wallet."
This is
February Roundup: Five Trends Shaping the Bull Run
7:39 ERC-404
16:34 Bitcoin ETFs
32:27 Farcaster
51:33 AI x Crypto
1:04:40 The Metas Have Increased 10x
Links to the full episode ↓
So uh seems like arbitrageurs still need to learn about our new launch, current ETH orderbook (price at $4,500 elsewhere).
Performant API means no gas wars, failed executions, etc., come capture the volatility please!
Big lesson for me today in risks of multi-chain farming.
Borrowed on ETH and put stablecoins to work on other chains, but all bridges were down/slow when I needed to go back and repay.
Spent a fortune on gas to unwind ETH farm positions instead.
@QWQiao
I still don't see how any chain is low-latency enough for orderbook/matching. It's like Binance DEX but on Solana instead of Tendermint. Why will it be different this time?
1/ ICYMI IDEX 2.0 Phase 1 drops on Oct 20th! Last week I discussed the new smart contracts which are the foundation for IDEX 2.0. Today I'll talk about how server side trade matching and a high-performance trading engine lay the groundwork for a fully-featured DEX.
1/ Welcome back to DEX history, today I talk about the early days of
@idexio
and our design to solve front-running and trade failures. If you missed the previous days, start here .
Phase 3: Off-chain execution, on-chain settlement
1/ We've been working on DEXs since 2015 giving us a unique perspective on their evolution. To celebrate the new we're breaking down the past and predicting the future.
Phase 1: It’s like an exchange, but on a blockchain!
1/ We've been working on DEXs since 2015 giving us a unique perspective on their evolution. To celebrate the new we're breaking down the past and predicting the future.
Phase 1: It’s like an exchange, but on a blockchain!
Maybe it's just wishful thinking, but it feels like the dodge/safemoon/2017 dinosaur assets could rise and fall without impacting BTC/ETH/DeFi. Seems like a largely separate pool of individuals and capital (I can't bring myself to buy any of the former).
It's time.
IDEX v3, the world's first Hybrid Liquidity DEX, will be launching on December 1st, 2021 on
@0xPolygon
.
Over the coming weeks, we'll be announcing various initiatives and incentives that will help drive immense growth for the entire $IDEX ecosystem.
Get ready. 👾
Though somewhat cliche, this GME situation is bullish for crypto.
Bitcoin is sound money so regular people don't have to be full-time investors in a market which looks more and more ridiculous.
DEXs can't pause trading/circuit break on a whim.
What else?
Come find me at
@cryptoinvestsmt
on Oct. 24th! Also the choice of the other two speakers in this graphic was totally random (I assume the one made for
@stevewoz
has him flanked by two pictures of me).
2/ We took IDEX v2 offline on Monday (RIP: ETH L1 and order book DEXs don’t mix) and set out migrating everything to our Polygon mainnet deployment. All of the contracts had been in place for a few days, so this was mostly UI/API/etc.
8/ Analogous to segregated API keys on centralized exchanges, authorization keys allow you to authorize trading in other applications. Are you ready to use apps or terminals like
@tealstreetio
,
@Quantower_app
, and
@InsilicoTrading
on a perps DEX?
1/ In Day 2 of DEX history, I share my early ETH experiences, including meeting Zach Coburn in Chicago where he demoed a new app he was working on.
Phase 2: off-chain order books (aka the EtherDelta Era)
@hasufl
Have you tried the new IDEX? Traders sign one order and the exchange handles matching, vs signing a unique trade for each individual maker order. One signature no matter how many maker orders you hit. Also our API () is 🔥
4/ Historically the only way to match CEX performance is through the use of a hot wallet, a private key stored directly on a server that can instantly sign and submit transactions. IDEX v4 addresses this via a new technology called authorization keys.
🚀 ANNOUNCEMENT 🚀
The IDEX testnet launches May 29, 2024 🎉
Be among the first to test drive our Omnichain Perpetuals DEX powered by
@Arbitrum
🏎️
We’ve got 4M in $IDEX rewards plus some cool surprises – but first, whitelist! ⬇️
12/ While it may feel like everything in DeFi has already been invented, it’s an exciting time for order book DEXs as we continue to close in on parity with CEXs. No better example of this than the soon to launch IDEX v4!
6/ Around 3pm EST we pushed the button, and by 3:25pm we were live! We saw a huge influx of users at the beginning, and things were going great, TVL and volume were growing.
18/ IDEX staking is about to get a major upgrade with the launch of IDEX 2.0, with stakers taking home 50% of the total fees. Learn more about IDEX 2.0 here!
Ok. Axing the plan of tagging all 111+ speakers / sessions. 😅 TDLR;
#Liquidity2020
starts THIS Fri at 8:55am PT.
- Liquidity2020
- ReDeFine (w/
@blockstack
)
-
@Cosmos
HackAtomV:
I've been arguing that the ETH network effect is the EVM, not the actual network. Seeing this play out with BSC, bullish for things like
@MoonbeamNetwork
. Double edged sword though as the EVM has a lot of drawbacks, supporting is on other chains can degrade performance.
Can't recommend the Alliance program enough. The team is one of the sharpest group of investors in the space, and the program will help you avoid some costly mistakes. Also the alumni are a great network and community, we're continuing to see value 2+ years later.
Alliance works with founders to build world-changing companies of the future — and we'd love to work with you.
The deadline to apply for ALL11 2023 is June 14th.
Submit your application at
We are excited to share with you a detailed breakdown of the first AURA staking period that saw 146 ETH paid out to AURA stakers! Learn more:
#Ethereum
#IDEX
$AURA
3) We’re not the only ones who see the future this way.
Our previous announcement got the attention of
@0xPolygonLabs
and
@sandeepnailwal
. They reached out to share their vision, and we spent the last few months discussing Polygon 2.0 and performing diligence on the tech.
14/ If you haven’t tried it out yet, come do so, the experience is unlike any other! And for the yield farmers out there, plenty of pools well into the triple digits (audited by quantstamp, audit on the github).
@idexio
staking network earned over $2k per day in revenue last period, all from tx/trade fees (no inflation rewards here).
@spencernoon
should update his list. $IDEX
#tokenomics
3/ Our team did a fantastic job testing the past few weeks, so there were very few last minute bugs coming up. This was mostly a coordination challenge across engineering/product/ops/marketing.
5/ Authorization keys can only sign orders, not deposits or withdrawals. These keys are stored encrypted in the user’s browser, or exported for use in trading terminals and custom trading systems, allowing for instant order signing in parallel with order submission.
18/ Ultimately given what we know about Ethereum capacity and transaction costs we think that the requirement for base layer transactions could cause Lubin to lose the bet. But if layer 2 counts he can certainly rely on IDEX to be one of the 5 DApps, so only four more to go!
@Fiskantes
(3, 3) is one of the best memes I've seen yet, clear signal to others that you are in the same group and symbolizes solidarity/we're all gonna make it mentality.
Doing taxes reminds me of why I'm bullish on app-chains, if your monolithic chain is cheap enough it will fill up with spam until it's not cheap anymore.
I'd say 75% of my "transactions" this past year are this type of crap.
The Stargate DAO has spoken! 🎉
We're THRILLED to announce that the IDEX/XCHAIN integration proposal has been greenlit! 🪄
The deployment of
@StargateFinance
on XCHAIN will unlock seamless cross-chain deposits & withdrawals for IDEX users.
Read on for details 👇
“If you’d asked people in the late 1800’s what they wanted, they’d have wanted a faster horse and buggy. They didn’t know they wanted a car.”
@AlexWearn
is spreading the good word about decentralized exchanges and
@idexio
as v2.0 arrives...