Crypto.com Lists New Decentralized Exchange Token Based On Ethereum

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Crypto.com, the Singapore-based crypto exchange giant, lists an Ethereum-based hybrid low-cap decentralized liquidity exchange token.

In a new announcement, Crypto.com features IDEX (IDEX), formerly AuroraDAO, for trading on the company’s app.

IDEX is a decentralized multi-blockchain exchange offering a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and drive adoption of the platform.

According to the press release from Crypto.com,

“IDEX is the first Hybrid Liquidity DEX that combines the best of centralized and decentralized trading, with the performance and functionality 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 fees to place or cancel orders. Investments are also processed in real time, which enables advanced trading.

IDEX is an Ethereum token that powers the decentralized IDEX exchange. IDEX holders can wager tokens in order to secure the protocol and earn rewards.

While many new coin listings tend to trigger rallies, the IDEX price action barely responds to the news.

IDEX is currently trading at $ 0.20, down 3.73% in the past 24 hours.

The hybrid decentralized exchange is the second new token that Crypto.com has listed this year after last week’s addition of Oasis Network (ROSE).

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Featured Image: Shutterstock / EVorona / Natalia Siiatovskaia

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