What is IDEX (ID)? How To Buy ID Token In India?

What is IDEX (ID)?

IDEX is the first layer3 derivative exchange built on the Ethereum base layer. It aims to combine the performance of centralized exchanges with security and custody of DEXs (Decentralised exchange). The unique design of the IDEX platform provides its users with several benefits, like the best prices for their orders, saving on gas fees, arbitrage opportunities, high liquidity, and instant order execution, which means lower chances of front-running or sandwich attacks. In Addition, it also allows users to take advantage of advanced trading strategies through limit orders, post-only, etc. which are usually not available on other exchanges. 

IDEX token is a native utility token of the IDEX platform based on the Ethereum ERC-20 token standard. Users can use IDEX for trading, deposit them in the IDEX liquidity pool to receive incentives, stake them to become a node in the network, or delegate their tokens to receive a share of trading fees earned by IDEX nodes.

Who are the Founders of IDEX?

IDEX was co-founded by Alex Wearn and Phil Wearn in 2017, with its recent v4 update launched in April this year. Alex, CEO of IDEX, completed his MBA from Kellog School of Management and had vast experience working in leading Tech companies, including Adobe, Amazon, etc. COO of IDEX, Phil majored in Aerospace, Aeronautical, and Astronautical Engineering from Virginia Tech and has a professional background in accounting.

How does IDEX work?

IDEX operates in a decentralized manner by combining high-efficiency of traditional order books and matching engines with Automated Market Makers(AMM). IDEX uses an off-chain system of high-performance exchange similar to one present in centralized exchanges. When a user places an order, it is passed onto the trading engine, where processing occurs. Then trades are automatically matched with other orders and an IDEX hybrid liquidity pool for execution. This gives users a high latency rate of milliseconds, real-time settlement of orders, and balance updates.

Furthermore, IDEX utilizes a series of smart contracts for the decentralization of funds and trade settlement. The platform’s smart contracts act as an escrow to restrict the movement of funds till all placed orders are settled to avoid discrepancies in on-chain balances. These smart contracts also ensure that all trades and withdrawals are authorized by owners.

What makes IDEX Unique-Use Cases?

• IDEX offers users low costs, real-time and fast execution of trades.
• Users can stake their IDEX tokens to earn a 50% share of platform trading fees, which are paid in USDC.
• Additionally, users can deposit IDEX tokens in the hybrid liquidity pool to earn liquidity mining rewards.
• There are over 26 crypto assets listed on the IDEX platform, and it supports Ethereum, Binance, and Polygon blockchain.

IDEX (ID) Price Analysis

• IDEX price rallied in April this year after a breakout from its consolidated range and touched a price level of $0.1352.
• However, IDEX price has been falling for the past few weeks and is currently trading at $0.06514 following rejection from its 50-Days Exponential Moving Average.
• Below 40 RSI also indicates a bearish sentiment among investors and traders. If the IDEX price displays strength, it could reach $0.075 soon.

How to Buy IDEX Tokens in India?

To buy IDEX Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete KYC
• After your profile is verified, fund your wallet and buy an IDEX