The Gridex Protocol is a permissionless and non-custodial buying and selling protocol consisting of a set of persistent, non-upgradable good contracts on the Ethereum blockchain.
Not like the present mainstream decentralized exchanges primarily based on the Automated Market Maker (AMM) mannequin, Gridex is predicated on order books.
With the novel Grid Maker Order Guide (GMOB) mannequin, Gridex has considerably diminished the useful resource consumption of operating an order book-based system. The mannequin permits Gridex to deploy and run it on the Ethereum mainnet whereas making the gasoline value similar to that of AMMs.
Gridex is the primary ever, absolutely on-chain, absolutely purposeful order e book DEX constructed on Ethereum. This makes them have some key variations from all different DEXs on Ethereum:
- Absolutely decentralized: Deployed and runs on the Ethereum mainnet. Your complete transaction course of is executed on-chain, with no deposit or withdrawal course of wanted. Moreover, anybody can create any buying and selling pair freely, with none permission.
- “Maker Orders” of their protocol have launched a brand new infrastructure to the Ethereum ecosystem, permitting customers to put orders of any dimension and value whereas having a zero slippage, zero-MEV, and low-cost (even negative-cost) buying and selling expertise.
- Lack of liquidity is now a factor of the previous. Even with out market makers, Gridex will nonetheless operate completely. Not solely are Gridex customers in a position to make use of the liquidity offered by different Gridex customers, however they’re additionally in a position to make use of the liquidity aggregated from different DEXs, guaranteeing their swap customers have the power to get the most effective trade charges doable.
- After being deployed on the Ethereum mainnet, the protocol may even be deployed on mainstream generalized Layer 2 networks of Ethereum, resembling Arbitrum and Optimism.
- A lot of the native tokens (GDX) will probably be rewarded to the group of customers in simply over a month earlier than and after the launch. 100% of the protocol charges will probably be used to buyback and burn GDX.
What are the subsequent steps?
- The airdrop will start on December 5. The testnet launch will observe shortly afterward.
- Good contracts are present process remaining optimizations, which will probably be open-sourced earlier than the official launch of Gridex.
Please observe the official Twitter for updates.
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