IDEX, the top decentralized trade (DEX) for ERC-20 tokens in 2019, as indicated by etherscan, is rolling out a new DEX on top of Rollup innovation. As a major aspect of the relaunch, a demo was released on December 5.
By lessening gas charges, Rollup-based smart contracts, which group on-chain exchanges off-chain, have turned to an expedient scalability tool—for IDEX and others. The IDEX Optimized Optimistic Rollup arrangement is different from other rollup proposals (Optimistic/ZK/etc.) since it is completely independent of fundamental gas costs.
For Aurora Labs, the firm behind IDEX, the new strategy means lesser operating costs along with more transactions processed, CTO Jason Ahmad stated in a phone interview. Actually, Ahmad anticipates EIP 2028 to decrease gas expenses by as much as 90 percent on the new platform.
“The design for off-chain exchange functionality with on-chain custody and settlement is much more efficient, much more cost-effective and frankly is a better judicious use of the scarce blockchain resource,” Ahmad stated.
Yesterday’s move is IDEX’s first redesign since its release in October 2017. Last year, IDEX represented 3 percent of all gas fees paid to miners on the ethereum network, amounting to $4.3 million, as indicated by Ahmad.