What is IDEX and why is it surging?
IDEX is a decentralized exchange (DEX) that combines the speed and features of a centralized platform with the security and liquidity of a decentralized one. It uses an innovative hybrid model that allows users to trade instantly and securely without paying high gas fees or waiting for blockchain confirmations. 🚀
In the past few days, IDEX has seen a massive price rally after launching its Layer 3 capabilities, which enable it to scale across multiple blockchains and offer users more choices and flexibility. IDEX is currently available on Ethereum and Binance Smart Chain, with Polkadot and others to follow. 💯
According to CoinMarketCap, IDEX has increased by over 70% in less than 48 hours, reaching a new all-time high of $0.9745 on September 8th. Its trading volume has also skyrocketed by almost 600% in one day to reach $310.7 million, making it one of the most popular DEXs in the market. 📈
What are the benefits of IDEX Layer 3?
IDEX Layer 3 is a set of protocols and smart contracts that enable IDEX to operate on any blockchain that supports EVM-compatible smart contracts. This means that users can trade any asset across any network without sacrificing performance or security. 🔐
Some of the benefits of IDEX Layer 3 are:
- Lower fees: Users can save on gas fees by trading on cheaper networks or using IDEX's native token (IDEX) to pay for transactions. 💸
- Faster settlements: Users can enjoy instant trade execution and settlement without relying on blockchain confirmations or miners. ⚡
- More liquidity: Users can access more trading pairs and liquidity pools across different networks and benefit from arbitrage opportunities. 💧
- More choice: Users can choose their preferred network based on their needs and preferences, such as security, speed, or compatibility. 🌐
How to buy IDEX?
If you are interested in buying IDEX, you will need to have an account on a cryptocurrency exchange that supports it. Some of the top exchanges where you can buy IDEX are Binance, Deepcoin, Bitrue, Bitget, and BingX. You can find others listed on our crypto exchanges page. 📊
To buy IDEX, you will need to have some cryptocurrency that you can exchange for it, such as Bitcoin (BTC) or Ethereum (ETH). You can buy these cryptocurrencies with fiat money (such as USD or EUR) on some exchanges, or you can use a service like CoinMarketCap's converter to swap them for IDEX directly. 💱
Once you have your cryptocurrency ready, you will need to transfer it to the exchange where you want to buy IDEX. You can do this by copying the address of your exchange wallet and sending your cryptocurrency there from your own wallet. Make sure you double-check the address before sending anything, as transactions are irreversible. 🔗
After your cryptocurrency arrives at the exchange, you can use it to buy IDEX at the current market price or place a limit order at a specific price. You can also use tools like stop-loss orders or take-profit orders to manage your risk and reward. 📉📈
Once you buy IDEX, you can either keep it on the exchange or withdraw it to your own wallet for safekeeping. You can use any wallet that supports ERC-20 tokens, for example Metamask.
How to stake IDEX?
If you want to earn passive income from IDEX, you can stake your tokens and help secure the network. Staking IDEX allows you to operate a node that validates transactions and earns fees from the trading activity on the platform. 🤑
There are two ways to stake IDEX: hosted staking and self-staking. Hosted staking is the easiest option, as it lets you stake your tokens on a third-party service that runs the node for you. You can use services like Staked or Moonlet to stake IDEX with a few clicks. 💻
Self-staking is more advanced, as it requires you to run your own node on a server or a computer. You will need to have at least 10,000 IDEX tokens in your wallet and follow the instructions on the IDEX documentation to set up your node. You will also need to keep your node online 24/7 and update it regularly. 🛠️
Both hosted staking and self-staking have different tiers that determine how much fees you can earn from staking. The higher the tier, the more fees you get, but also the more tokens you need to stake. The current tiers are:
| Tier | Tokens Required | Fees Earned |
|---|---|---|
| Tier 1 | 10,000 IDEX | 25% |
| Tier 2 | 50,000 IDEX | 50% |
| Tier 3 | 250,000 IDEX | 75% |
| Tier 4 | 1,000,000 IDEX | 100% |
You can check your staking rewards and performance on the IDEX staking dashboard. You can also use tools like Staking Rewards to calculate your potential returns from staking IDEX. 💰
The Bottom Line
IDEX is a hybrid DEX that offers users a fast and secure way to trade any asset across any network. It has recently launched its Layer 3 capabilities, which enable it to scale across multiple blockchains and offer users more choices and flexibility. This has resulted in a huge price surge for its native token (IDEX), which also allows users to stake and earn fees from the platform. 🚀
If you are interested in buying or staking IDEX, you can use one of the top cryptocurrency exchanges that support it, such as Binance, Deepcoin, Bitrue, Bitget, or BingX. You can also use CoinMarketCap's converter to swap your cryptocurrency for IDEX directly. 💱
We hope this article has given you some useful information about IDEX and its Layer 3 capabilities. If you have any questions or feedback, feel free to leave a comment below. We would love to hear from you! 😊
