IDEX is a hybrid semi-decentralized Ethereum Asset Exchange providing trustless, real-time, and high-throughput trading experience catering for a blockchain-based settlement.  The exchange facilitates real-time trading and high transaction throughput.  IDEX is the base component of Aurora DAO.

IDEX centrally matches trades, facilitating Ethereum Transaction Dispatch. Users will be able to trade continually without having to wait for the transactions to mine.  They can fill in multiple orders all at once.  They can cancel their orders without any gas costs.

The problem that IDEX strives to solve is very clear.  In cases of decentralized exchanges, security improvements come at the cost of the user experience. Further, the trade speeds get limited by block times.  The order books update slowly.  And many times, the transactions are not in sync with the interface.  Each of them cancels the individual gas costs for the orders. IDEX considers these as significant design flaws.  Trading bots with such design flaws are cost-prohibitive, providing for poor user experience.

IDEX Solution is Unique

IDEX solves the problems by centralizing the non-critical components in the trading process.  Several transactions like deposits and trades should be normally authorized by end-users using their private keys; however, with IDEX, the ownership of these authorized transactions are with IDEX.  The transactions are dispensed sequentially, and therefore IDEX can facilitate the speed and the user experience of the centralized exchange in combination with the security and auditability of the decentralized exchange.

IDEX has smart contracts, transaction processing arbiter, and a trading engine. The smart stores all assets and executes the trades. All trades are authorized by using the private keys of users.

The smart contract design of IDEX is unique. Therefore, only the exchange can submit the signed trades into the Ethereum Network.

IDEX Solution Improved User Experience

The user experience for the end clients is protected from longer settlement times. Without having to worry about the backlogs on Ethereum, the users can continue to trade back and forth in real-time.  The IDEX balances get updated immediately.

The asynchronous design of IDEX is good because it protects the IDEX traders from the shortcomings of the ERC Network.  IDEX has exhibited organic growth by strategically capturing value by taking advantage of opportunities as they occur.  The design addresses nearly all challenges faced by decentralized exchanges.