Semi-decentralized exchange IDEX has raised $2.5 million in a seed funding round, as revealed by co-founder and CEO Alex Wearn. The funds will be utilized for a relaunch of IDEX as IDEX 2.0, a performance and security-focused upgrade.

• Funding led by G1 Ventures and Borderless Capital; the other investors are Collider Ventures and Gnosis
• The exchange has both centralized and decentralized features, upgrade will bring more decentralization
• Team believes better off-chain infrastructure help in the competition against centralized exchanges
• IDEX 2.0 will launch in 3 phases: performance and on-chain settlement; layer-2 going live; and layer-2 settlement
• Additional improvements include new UI and an upgraded API
• IDEX 2.0 is expected to launch in the upcoming weeks