Singapore-based cryptocurrency exchange giant Crypto.com is listing a low-value decentralized exchange token based on hybrid liquidity based on Ethereum.
In a new announcement, Crypto.com is introducing IDEX (IDEX), formerly known as AuroraDAO, to trade on the company’s app.
IDEX is a multi-blockchain decentralized exchange that offers a non-security solution for digital asset trading. The IDEX token is used to secure the network and stimulate adoption of the platform.
According to the Crypto.com press release,
IDEX is the first hybrid liquidity marketplace that blends the best 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. Positions are also processed in real time, enabling advanced trading.
IDEX is an Ethereum token that supports IDEX’s decentralized exchange. IDEX holders can share tokens in order to help secure the protocol and earn rewards.”
While many new coin listings tend to trigger spikes, IDEX price action is barely responding to the news.
IDEX is currently trading at $0.20, down 3.73% over the past 24 hours.
The hybrid decentralized exchange is the second new token to be listed by Crypto.com this year after the addition of the Oasis Network (ROSE) last week.
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