IDEX Plans for Next-Generation Decentralized Exchange on Algorand
IDEX, the world’s leading decentralized exchange, has selected Algorand as one of the platforms on which to advance its technology. With a long term vision for a comprehensive network of non-custodial trading, IDEX plans to explore expansion to other platforms where in-demand assets exist. This collaborative effort between IDEX and the Algorand team is an emphasis on both parties’ mission to maximize the potential of blockchain through cutting-edge technology and strategic relationships.
IDEX and Algorand will work closely together to develop advancements for financial tools and services to support the new economy. With Algorand, IDEX can develop a solution with full finality, tokenization of assets, and programmatic transfers at Layer-1. Looking ahead, Algorand’s forthcoming innovative new primitives also offer IDEX the incredible opportunity to offload smart contract complexities onto the Algorand platform’s native features. IDEX stands to gain invaluable benefits from Algorand’s core offerings.
The Algorand platform has the potential to deliver uncompromising speed, security, and decentralization—benefits that have not gone unnoticed by the blockchain community. IDEX’s announcement adds the team to a growing number of reputable projects that have already delivered powerful products and are confident in Algorand’s mission and vision.
In an announcement earlier this week, Algo Capital—the financial institution focused on accelerating access, adoption, and liquidity of the Algo—shared the closing of its Algo VC Fund at $200 million and its unwavering commitment to creating and capturing value across all levels of the Algorand tech stack. Besides holding a large stake in Algos, the fund will invest in emerging disrupters with proven business models, scalable revenue, and a clear path toward profitability. IDEX was named as one of the initial portfolio companies.
Founded by cryptography pioneer and Turing award winner Silvio Micali, Algorand is an open-source software company building technical innovation for the borderless economy with a platform that delivers decentralization, scalability and security. Algorand’s first-of-its-kind, permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality needed by users to build opportunity and fulfill the promise of blockchain technology. For more information, visit www.algorand.com.
IDEX is the #1 DEX on Ethereum, providing retail and institutional customers with a secure, trustless, and real-time trading experience backed by transparent blockchain settlement. Through a hybrid design that manages trade matching and balance updates off-chain, IDEX eliminates, IDEX eliminates mining delays and enables continuous trading, multiple simultaneous orders, and zero-fee cancellations.