IDEX Announces Launch of New $IDEX Token 2.0 and Expansive Ecosystem Upgrades

EX Is a Leading Hybrid Perpetuals Decentralized Exchange That Fuses a CEX-Like Trading Experience with DEX-Like Custody

SAN FRANCISCO / ACCESSWIRE / March 25, 2024 / The hybrid perpetuals decentralized exchange that brings together a CEX-like trading experience with DEX-like custody has announced a significant upgrade to its platform with the new $IDEX Token 2.0. This strategic enhancement builds out the IDEX ecosystem and provides unparalleled opportunity to its community.

$IDEX Token 2.0

The $IDEX Token 2.0 marks a pivotal shift in IDEX's market strategy and ecosystem development. Aimed at maintaining competitive advantage against newer protocols, the upgrade includes a future 1:1 token swap available to existing $IDEX holders, ensuring a seamless transition.

Points Program

In addition to the token upgrade, IDEX is introducing a Points Program that will track and reward trading activity, further incentivizing and supporting ecosystem engagement.

Staking Upgrades

IDEX is also enhancing its staking program. Fifty percent of trading fees will be converted from $USDC to $IDEX via the open market, then distributed to stakers - underscoring IDEX's commitment to long-term-focused supporters.

Token Liquidity

The staking upgrade also introduces an $IDEX/$USDC pool on IDEX's own XCHAIN that allows users to simply hit "BUY $IDEX" and swap tokens from an array of chains straight into $IDEX. This one-click solution creates unprecedented ease of use for the protocol.

Expanding Ecosystem Incentives

This upgrade is accompanied by an updated token supply to foster a robust incentives ecosystem. Community engagement will determine total supply, by leveraging trading activities as a metric tied to Key Performance Indicators (KPIs). These tokens will be exclusively for ecosystem incentives, including Market Maker (MM) rewards, trading rewards and the development of trader-focused decentralized applications (dApps). This initiative will cultivate a vibrant trading environment and reward the community for its loyalty and active participation.

Strategic Goals & Future Outlook

This comprehensive upgrade and expansion of the IDEX ecosystem underscores the protocol's commitment to innovation, competitive positioning and community opportunity.

"We believe these upgrades represent a significant step forward in our journey towards revolutionizing the perpetuals decentralized exchange experience," said Alex Wearn, Co-Founder and CEO at IDEX. "Our focus continues to be innovation and growth, and we are confident that the new $IDEX Token 2.0 and expanded ecosystem will ensure our shared success."

Availability & Migration

The IDEX team will provide comprehensive timeline details and step-by-step guides soon. For more information, follow IDEX on Discord and X.

ABOUT IDEX

Established in 2017, IDEX has set the standard as the premier high-performance decentralized exchange. The platform combines the speed and efficiency of traditional trading systems with the transparency and security of blockchain technology to create an unparalleled trading experience. IDEX is built for all traders, providing instant execution, millisecond latency and gas-free settlement, while allowing users to maintain full control and custody of funds.

For more information, please visit https://idex.io.

Contact Information:

IDEX Marketing
marketing@idex.io

SOURCE: IDEX

View the original press release on newswire.com.