Introduction to Newdex
Any crypto enthusiast, who has spent some good time in the EOS space over the last year, has surely heard of Newdex. It was the first decentralized exchange dedicated entirely to EOS ecosystem. It saw the day of the light on 8th August, 2018. Newdex created its own niche very early in the EOS ecosystem as a preferred place to trade EOS tokens. It has traveled a long way since its inception and established itself as a trusted and high traffic exchange. The user interface is smooth, clean and resembles traditional exchanges.
Newdex Homepage - Image Source: Newdex website
Experience Decentralization
Newdex is decentralized exchange and so the users need not deposit funds over there. Newdex has mobile/desktop versions available. The users can connect to Newdex through many available mobile or desktop wallets. KYC is not needed too as it is decentralized in nature.
Newdex login screen showing multi wallet login option -Image Source: Newdex website
Evolution from Single-chain to Multi-chain
Newdex initially ran only on EOS blockchain and used only EOS as a base trading pair to allow smooth trading between huge ranges of EOS tokens. New tokens are getting added to the exchange continuously. It also has a separate trading zone for EOS side-chains like BOS, MEETONE, WAX and TELOS. Newdex launched TRON exchange (Beta vesion) on 15th August, 2019 post its anniversary to shift from single-chain to multi-chain. Entrusted account is one key feature of Newdex which ensures entrusting of assets and settlement. Successfully deployed the smart contract of the entrusted account helps Newdex to adopt decentralized operating mechanism "matching and settlement on chain" on EOS chain and "matching off chain, settlement on chain" on TRON chain. It provides seamless trading experience and real time settlement. All the transactions are visible on the respective blockchains.
Exchange Normalized Trade Volume of Newdex (1y) - Image Source: Coingecko
NDX Token
NDX is the Newdex platform ecological token, issued on the EOS main net. NDX max supply is 10 billion. The value of NDX is derived from repurchase and destruction, staking concessions, other token airdrop, advertise bidding, independent listing etc. Newdex VIP programme needs staking of NDX.
Way Ahead
All decentralized exchanges cumulative trading volume was less than 1% of centralized exchanges in 2018. Decentralized exchange (DEX) user experience is really far better than what it was a few years back. Newdex has debunked the myth already that a DEX is hard to use. People are ready to reap benefit of a trustless administration. A DEX is less prone to hacking as trade is happening between two parties only. So Newdex popularity is surging. Diversified trading is the need of the hours. Newdex has rightly responded to that need by going Multi-chain way. Down the line, Newdex will bring a plethora of coins and tokens in its platform. This is the beginning of the real era of decentralization.
Supported Wallets
Scatter, MEET.ONE, Token Pocket, Math Wallet etc.
Important Links
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