IDEX Hybrid Liquidity DEX generates over $100M in two weeks since launch

IDEX’s v3 Hybrid Liquidity DEX generated more than $100 million in trade volume since being launched on December 1, Invezz learned from a press release. More than 30,000 unique wallets have traded on the DEX since then, which is based on Polygon (MATIC/USD).

Eliminating slippage and high gas fees in DeFi

As the first hybrid liquidity DEX in history, it aims to establish hybrid liquidity as a true competitor to the order book and automated market maker designs, which expose DeFi traders to slippage, huge gas fees, front-running, sandwich attacks, and more.

Access to popular trading features, but with security

IDEX created v3 Hybrid Liquidity to give traders access to the most popular features of CEXs and DEXs, like AMM pool liquidity and high-performance order books without sacrificing security. V3 has accumulated TVL of more than $30 million since December 1. In addition, IDEX facilitated nearly 350,000 failsafe trades in this time frame.

With view to this unprecedented trade volume, IDEX expects the Hybrid Liquidity design to become a viable alternative to the order book and AMM. IDEX CEO Alex Wearn commented:

Polygon is faster and more affordable than Ethereum

Polygon has managed to render transactions cheaper, faster, and more reliable than Ethereum (ETH/USD), making it a logical choice to host v3. Since May this year, the Polygon Network’s TVL has not dropped below $3 billion, drawing attention to its sustained success. IDEX expects its v3 Hybrid Liquidity deployment on Polygon to yield the highest possible returns for traders.

Wearn added:

IDEX token listed on Coinbase, Huobi

After the launch, IDEX token was listed on Coinbase, Huobi, and other exchanges. IDEX will explore additional networks to deliver its novel DEX features in the next months.