The Gridex team has announced the successful completion of an airdrop of 4,000,000 GDX tokens in less than 24 hours. On 13 February over 3 million addresses were eligible for the airdrop, with the first 100,000 addresses entered to receive the prize. The overwhelming demand for the airdrop is a testament to the community’s incredible support and enthusiasm for Gridex Protocol’s game-changing technology and trading features, which are set to set a new standard for decentralized crypto trading.
First fully on-chain order book protocol on Ethereum
Gridex Protocol is the first on-chain order book protocol for the Ethereum ecosystem, which includes Ethereum Mainnet, Arbitrum, Optimism and Polygon, making it possible for traders to enjoy the benefits of both CEX and DEX. The state-of-the-art architecture of the GridEX protocol allows it to deliver CEX-like performance and user experience while preserving the security of DEX. It is an ideal choice for traders who want the best of both worlds – the user experience of CEX, and the decentralization and self-custody of DEX.
The Gridex protocol allows users to swap or place maker orders in the order book, with the entire transaction process executed on-chain. This eliminates potential trust issues associated with off-chain limit orders and reduces the risk of price slippage and MEV attacks.
The GMOB model: solving the pain points of using an on-chain order book
It is difficult to implement order books on blockchains due to the performance limitations of public chains and high gas fees for transactions. The matching engine’s algorithms require a lot of resources to be used on-chain, making it challenging to replicate the order book model.
The GridEx protocol solves the issue of high gas costs for running an order book-based system on Ethereum by introducing the Grid Maker Order Book (GMOB) model, which uses a narrow price range rather than specific prices for maker orders and provides Offers negative trading fees to Liquidity. This reduces resource consumption and lowers gas costs to the same level as AMM.
The Gridex Protocol Is On The Rise
Gridex Protocol is constantly growing its ecosystem and establishing partnerships to expand its reach. It offers various opportunities to generate revenue, making it an attractive option for both traders and investors. The platform’s fully on-chain experience and low fees make it an innovative solution in the DeFi space, and it looks set to revolutionize the decentralized trading experience.
For more information about the Gridex protocol, please visit the link below:
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https://www.gdx.org/
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Disclaimer: This is a paid post and should not be treated as news/advice.
