After years of anticipation, Polkadex has launched the Polkadex Orderbook decentralized exchange to take non-custodial cryptocurrency trading to a new level.
Polkadex Launches Orderbook
Polkadex, a decentralized peer-to-peer cryptocurrency exchange for the DeFi ecosystem, has announced the launch of its Orderbook called CEXier Dex to revolutionize crypto trading. Polkadex announced the launch via a publication on Medium earlier today, 31st of October 2022.
In a post on Medium a few hours ago, Polkadex declared, “Polkadex Orderbook is open for trading!”. Polkadex said it is set to disrupt the way cryptocurrencies are traded with its game-changing orderbook-based decentralized exchange (DEX). The unveiling publication reads:
“After almost two years of work, this release is — by far — our biggest milestone yet! We’re excited for Polkadexers to get their hands on Polkadex Orderbook finally and can’t wait to see you all trading!”
Polkadex says its new Orderbook uses a unique combination of blockchain and trusted execution environment (TEE) technologies. Polkadex wrote:
“It is composed of the Polkadex network, the Layer 2 TEE built on top of it, and the off-chain Orderbook engine within the TEE. In a nutshell, users register their Substrate-based accounts on Orderbook and then deposit funds from their on-chain wallets, or funding accounts, onto their trading accounts within the layer 2 solution.”
The Polkadex Orderbook
According to the Medium publication, Polkadex Orderbook combines centralized exchanges (CEXs) and decentralized exchanges (DEXs). Being individually imperfect in their current forms, Polkadex Orderbook seeks to create a better system called the CEXier DEX. Polkadex says non-custodial cryptocurrency trading just got much better with this new invention.
Speaking about the new Poladex Orderbook, Gautham J, CEO and Co-Founder of Polkadex, said:
“We designed Polkadex Orderbook to look and feel like a CEX while preserving the non-custodial tenet intrinsic to DEXs. Features reflect the best of CEXs, and DEXs put together into one cohesive non-custodial platform.”
Amongst several other amazing features, Polkadex Orderbook is non-custodial, which implies that users alone get to control their funds, making it the first CEX-like exchange where users can hold their funds without worrying about security breaches there is no centralized honeypot for hackers to go after. The Orderbook also comes with zero speed limits, making it faster than any other CEX trading with the ability to scale up to 500,000 trades per second.
Polkadex Offers Six Months of Free Trading
Polkadex, with its new Orderbook, seeks to make crypto trading much cheaper. For the initial six months after its launch, Polkadex Orderbook will have zero trading fees. In addition to free trading, Polkadex Orderbook also comes with zero gas fees and zero-order placement cancellation fees making it much more affordable than the existing DEXs.
Other benefits of the Polkadex Orderbook include a new, truly cross-chain system.
Users can now trade Polkadot and Polkadot parachain tokens through the Polkadex parachain and Ethereum ERC-20 tokens through ChainBridge, and the soon-to-come THEA bridge will first connect Polkadex with Ethereum, followed by other blockchain networks down the line.
Users can also register multiple trading accounts using various devices, affording them so much convenience and security. Similar to other crypto exchanges, Polkadex Orderbook also offers bots trade by integrating a bot from popular trading bot providers like Hummingbot to automate trading.