Crypto.com, the Singapore-based cryptocurrency exchange giant, is listing an Ethereum-based small-cap hybrid liquidity decentralized exchange token.
In a new announcement, Crypto.com introduces IDEX (IDEX), formerly AuroraDAO, to operate on the company’s app.
IDEX is a decentralized multi-blockchain exchange that offers a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and encourage platform adoption.
According to the Crypto.com press release,
“IDEX is the first hybrid liquidity DEX that combines the best of centralized and decentralized exchanges, with the performance and features of a traditional order book and the security and liquidity of an automated market maker (AMM).
Users benefit from not having to pay additional network costs to place or cancel orders. Placements are also processed in real time, allowing for advanced trading.
IDEX is an Ethereum token that powers the decentralized exchange IDEX. IDEX holders can stake tokens to help protect the protocol and earn rewards.”
While many new coin listings tend to trigger rallies, IDEX price action hardly responds to the news.
IDEX is currently trading at $0.20, down 3.73% in the last 24 hours.
The hybrid decentralized exchange is the second new token that Crypto.com has listed this year after merging with the Oasis Network (ROSE) last week.
