Friday, January 28, 2022
Home Crypto News Market Polkadex Migrates Native Token PDEX From ERC-20 to Substrate

Polkadex Migrates Native Token PDEX From ERC-20 to Substrate

- Advertisement -

London, UK, 30th November, 2021,

Polkadex, the order-book exchange for DeFi built on Substrate, is announcing the listing of its native token PDEX on Gate.io, which signals the start of the migration from the ERC-20-based PDEX.

Launched on mainnet at the end of September, Polkadex has now officially launched its native PDEX token, which was previously built as an Ethereum-based ERC-20, a temporary solution while the platform was in testnet.

Polkadex users will be able to migrate from ERC-20 to the native chain until Q1 2022, after which the ERC-20 will be disabled. The earlier the migration, the larger the advantages.

“Migrating PDEX native tokens has been on our roadmap since the beginning,” says Vivek Prasannan, Executive Director and co-founder at Polkadex. “We have worked hard to keep up with our deadlines and we are satisfied with our mainnet launch. The next step to maintain the Polkadex ecosystem is the migration of PDEX from ERC-20, which has been a good temporary solution that now served its purpose.”

Polkadex is a peer-to-peer and order-book based exchange for DeFi built on Substrate that aims to combine the safe and non-custodial format typical of DEXs, with the accessible and user-friendly structure proper of CEXs.

In order to accomplish this objective, Polkadex combines AMM pools with order-books, governed by on-chain bots that work to avoid price slippage issues.

Moreover, to create a performant and slim exchange, only the functions that require verification are built on-chain on Polkadex, while features like market data aggregation and storage happen off-chain.

Polkadex offers many tools to guarantee a safe and seamless experience to crypto investors, traders, stakers and even developers, providing low to zero gas-fees, a secure KYC system, self-sovereignty of funds and even a PolkaIDO Launchpad.

PDEX tokens are a fundamental tool in the Polkadex ecosystem, as they allow users to access the full spectrum of Polkadex features. PDEX tokens can be spent to pay and get discounts on transaction and trading fees, to participate in Polkadex IDOs and to take part in on-chain governance of the network, whilst PDEX stakers are able to become validators of the proof-of-stake network.

While during the testnet PDEX have been supported on Ethereum ERC-20, migration to PDEX native tokens is a key step to make the Polkadex ecosystem even safer. To sweeten the deal for users who need to migrate in time, Polkadex is offering an average APY of 65% to stake PDEX on the native chain. The listing on Gate.io supports native tokens, which makes it easy to bridge assets from Ethereum to the Polkadex chain.

About Polkadex
Polkadex is a non-custodial, peer-to-peer trading platform that combines the benefits of CEXes and DEXes into one. Polkadex’s range of fully decentralized tools provides modern traders, investors and blockchain teams with unparalleled functionality. Built on Substrate and leveraging other sophisticated technologies.

 

Contacts

Chief Marketing Officer

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

FLOKI Partners With Crypto Education Specialists TechTree to Build the Premier Crypto Educational Platform “Floki University”

Floki Inu (FLOKI) recently declared via tweet that it has partnered with TechTree, the core educational platform for crypto and De-Fi - a core...

Crypto Relief India has decided to move $100 Million USDC Back to Vitalik Buterin Wallet with the Intention to Accelerate Relief Efforts in India

Sandeep Nailwal, a cofounder of Polygon (MATIC) and founder of Crypto Relief, has just posted a CryptoRelief Update via his official Twitter handle. https://twitter.com/sandeepnailwal/status/1487073265319231491 According to...

Ripple Supporters May Wait Until Next Year Before SEC Lawsuit Will End

John Deaton said Ripple supporters may have to wait until next year before a verdict is given in the  lawsuit filed by the Securities...

DeFi Wallet Ambire Gains Momentum, Launches $WALLET Token on Huobi Primelist

Sofia, Bulgaria, 28th January, 2022, — DeFi-focused crypto wallet by Ambire is launching its much anticipated governance token on the Huobi exchange. Ambire...

Celebrate Lunar Spring Festival With Gate.io Theme: A Holiday For Some, Rewards For Everyone.

Gate.io wishes all its users a very happy Lunar Spring Festival! May the year of the Tiger bring you health, wealth, love, and prosperity.

Bradenton Hot Dog Restaurant Embraces Dogecoin As Payment

A Bradenton restaurant named Willy-Yums has announced that customers can now pay for their favorite hot dog sandwiches using popular cryptocurrency dogecoin (DOGE). 

Some Major Thing Coming For SHIB, Shiba Inu Team Teases: ‘Something Is Cooking, Will You Be Ready’

Nowadays, Shiba Inu (SHIB) teases its holders and followers with new surprises. window.coinzilla_display = window.coinzilla_display || ; ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.