Good afternoon, my friends. Ive read that IDEX will have great capacity. Maybe any of you have any exact data?
Right now we can handle upwards for 50 trades per second, that is over 5 times what ethereum can do. Once we put work into scaling that number we can get into the millions of trades per second. This requires ethereum to scale as well to match our capabilities.
Ive come across the info that users wont spend any means on gas when working with IDEX. How is it possible? Whats the secret?
Trades still require gas fees but we have made gas free cancels. Unlike etherdelta or 0x exchanges which cost about a dollar to cancel your trade our design makes cancels free. This makes running bots much more cost prohibitive on IDEX than our competitors.
why do you need 2 tokens?
Membership token (DVIP) is a crypto membership that comes with free trading on IDEX until 2021 and double AURA rewards (from the rewards program) for life after the free trades runs out. AURA is our utility token that will be used for POS staking our sidechain once IDEX moves from ethereum mainnet to an ethereum sidechain for scaling. AURA token holders will stake our chain and get paid in IDEX trade fees for providing the security to the network. As Aurora expands into decentralized banking the revenue from that venture will also flow back to AURA stakers for running the network.
Each DVIP also comes with 50,000 AURA tokens. So for $3,000 you get free trades on IDEX for 3 years, double AURA rewards for life after that and 50,000 AURA tokens. DVIP works now and AURA will be used for staking as soon as we have our sidechain live. Getting the sidechain live is our main focus after we do a few more minor things to stable out IDEX.