IDEX is one of the first leading crypto exchanges that launched since 2017 even before popular DEXs like Uniswap came to the scene.

Recently, IDEX came to the limelight again because of its integration with XCHAIN.

In this post, we’ll look at how this integration is attracting more users to Idex and the possible impact on its token.

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The Genesis of IDEX: The Purpose Behind Its Creation

Back in 2017, Ethereum was the only decentralized network traders relied on and there wasn’t any reputable layer2 network as of then.

This made trading difficult because it was very slow and the cost of any transaction was relatively high compared to today.

To solve these issues, Idex became the first DEX to implement a layer2 scaling solution known as optimistic rollups.

This technology allowed the exchange to process a large number of transactions off-chain, reducing the trading gas fees by 10x.

And that’s because users didn’t need to pay platform fees to complete a trade, only network fees.

Also, those holding the IDEX token paid less than the normal fees to withdraw their funds.

Using optimistic rollups also enabled faster trade execution on the exchange.

That way, IDEX addressed the common limitations of most DEXs, such as slow transaction speeds, poor liquidity, and high gas fees

The Advanced Benefit..

In addition, IDEX offers users the benefits of centralized and decentralized trading while maintaining its principle of decentralization.

It combines the order book used in centralized exchanges and the automated market maker (AMM) model used in decentralized exchanges to give users the best of both worlds.

While the order book merges buyers and sellers, the AMM completes trades via liquidity pools.

As a result, trading on IDEX is not restricted to swapping as it is on most DEXs.

But you can place a trade the same way you do on CEXs and it gets executed whenever it reaches your price limit.

IDEX’s Game-Changing Integration with XCHAIN

IDEX is now bigger and better, thanks to XCHAIN.

It recently migrated to V4 and it is now fully powered by XCHAIN.

With the integration of XCHAIN, IDEX is poised to offer traders a suite of advantageous benefits:

1. Gas-free trading

This is because XCHAIN’s transaction costs are low enough to provide a gas-free settlement.

So, transaction fees on IDEX will be as low as what we see on CEXs.

2.  dApp Integrations

Users of IDEX will have access to a diverse range of products and services through decentralized applications within the XCHAIN ecosystem.

3.  Unrivaled Performance

This integration positions IDEX for high-performance trading, as it will now offer millisecond latency and instantaneous execution.

XCHAIN’s Ripple Effect: A Bullish Outlook for IDEX Token

Interestingly, this recent development spiked awareness, with the IDX token trading volumes smashing $100 million, a level not seen since 2021

Impressively, the IDEX token today is trading on all crypto exchanges both centralized and decentralized.

Here are other noteworthy facts about the IDEX token:

• It acts as a governance token for the IDEX platform.
•  Holders receive discounts on trading fees and they can also stake the IDEX token to earn more tokens.

In addition, the platform also plans to distribute 50% of all trading fees to IDEX stakers.

This means that you’ll earn both stakers rewards and the protocol-generated fee just for holding the IDEX token.

With all these coming to IDEX, I believe it could push more investors into IDEX.

They will probably invest in the token as well which will help boost its price.

As of the time of this article (Nov. 2023), IDEX’s market cap is over $40 million, which is less than similar projects.

But with all the new developments, it IDEX token could soon reach a $400 million market cap, over 50x its current value from 2021.

But that’s just my speculation. Let’s reconvene at the conclusion.

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Conclusion

IDEX could just be the one more altcoin you need in your portfolio, especially in anticipation of the upcoming bull run.

And that’s because the integration of Xchain and other recent team-driven developments are unravelling a bullish sentiment, setting the stage for its next rally.

What are your thoughts on XCHAIN? Could it potentially fuel a surge in IDEX prices during the next bull run?

Let me know your thoughts in the comment box. Also, if you enjoyed this article share it by clicking on the “SM” buttons below.