Investment Management

IDEX Alleviates Long-Standing DeFi Failures with v3 Hybrid Liquidity Launch on Polygon

IDEX-Alleviates-Long-Standing
IDEX, a leading decentralized cryptocurrency exchange (DEX), has announced the launch of its v3 Hybrid Liquidity DEX on Polygon. The launch of the world’s first hybrid liquidity DEX aims to alleviate the primary shortcomings within the DEX ecosystem, including front-running, slippage, and sandwich attacks, while also protecting users from the surging gas fees on the Ethereum network. The innovative exchange design offers crypto traders a unique trading experience with the familiar features of centralized exchanges (CEX) and DEXs, including a high-performance order book, improved security, and the liquidity of AMM pools.

DeFi continues to grow exponentially, with the total value locked (TVL) in DeFi protocols increasing from $21.6 billion in January 2021 to $256.91 billion today — representing a 1,089.4% spike. However, little has been done to address persistent issues plaguing the DeFi ecosystem,  including failed transactions, front-running, and miner extractable value (MEV). Popular Ethereum-based DEX, Uniswap, recently publicized a reduction in failed transactions across its platform from 11% down to 6%. However, this week alone, Uniswap users still suffered from more than 100,000 failed transactions, highlighting the severity of this problem. Adding insult to injury, MEV remains a massive problem within the DeFi ecosystem, as more than $750 million has been extracted on Ethereum — most of which can be attributed to arbitrage transactions.

The current bull run generated a record $23.6 billion in trading volume in September, but surging gas prices still cost traders an average of $69.1 million each week on the Ethereum network. The launch of v3 Hybrid Liquidity looks to deliver traders the most popular elements of both CEXs and DEXs with settlement costs 10,000-100,000x cheaper than on Ethereum L1.

DeFi has been hamstrung by issues like gas prices, front-running, and slippage since its inception, yet few solutions have truly offered answers to these problems. The novel Hybrid Liquidity design protects users from these pain points, while simultaneously generating higher returns for liquidity providers to boost the scalability of the wider decentralized economy.”

Alex Wearn, CEO of IDEX.

IDEX v3 Hybrid Liquidity combines an order book and automated market maker (AMM) liquidity pools to protect users from AMM pitfalls by instantly executing trades against the best combination of limit orders and pooled liquidity. This approach generates higher returns for liquidity providers, allows for advanced trades like stop-loss and limit orders, and fair, real-time trade execution.

“We are excited to assist IDEX launch its platform on Polygon, and believe it will serve as a catalyst for decentralized applications building on our network,” commented Hamzah Khan, DeFi Lead at Polygon. “IDEX takes an innovative approach to resolve issues such as front-running and failed trades, which helps drive significant value for traders.”

In conjunction with the launch of the v3 protocol, IDEX is unveiling a number of unique incentives for users who interact with the DEX.

  1. Liquidity Mining: IDEX is commiting 1,400,000 IDEX per week to liquidity mining rewards on IDEX v3 to bolster the liquidity. Rewards will be spread across all of the pools/markets available on IDEX v3 with a weighted distribution.
  2. Trading Rewards: IDEX is implementing a trading rewards program that will run for two consecutive 15-day periods. Users will be rewarded with a proportionate amount of IDEX from the rewards pool according to their volume compared to total exchange volume during the 15-day period. Rewards will be made available 1-3 days after the 15-day period ends on the Trading Rewards page.
  3. A First Trade Bonus: IDEX is committing 1,000,000 IDEX to a First Trade Bonus for wallets that have previously traded on the Polygon versions of QuickSwap or SushiSwap. The first trade bonus will be claimable after December 12 on the Trading Rewards page.
  4. Free MATIC Faucet: IDEX v3 on Polygon has implemented a MATIC token faucet for users to claim MATIC. Traders can claim once per wallet by simply clicking ‘Claim MATIC’ on the navigation bar of the exchange.

Following the IDEX Hybrid Liquidity Mainnet launch, IDEX plans to expand to additional networks to offer these novel features to a wider trading audience.

To begin interacting with IDEX Hybrid Liquidity, visit the IDEX HL Polygon Mainnet here: idex.io. For more information about the new Hybrid Liquidity product, visit the IDEX blog or Twitter.

About IDEX
IDEX is the first Hybrid Liquidity decentralized crypto currency exchange, combining a high-performance order book with Automated Market Making (AMM). The platform blends the best of centralized and decentralized exchanges, with the performance and features of an order book and the security and liquidity of an AMM. IDEX allows traders to get the best spreads, avoid failed transactions, and easily provide liquidity, all with the power of real limit and stop-loss orders.

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Financial Management

Finix Launches Payouts: A Standalone Solution for Fast and Secure Money Movement

Finix | January 10, 2024

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Core Banking

Backbase Enters Into an Agreement With Danske Bank to Enhance Its Digital Customer Experience

Backbase | January 12, 2024

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Investments

Green Home Loans from PrimeLending Finance Energy Efficient Upgrades for Homeowners

PrimeLending | December 07, 2023

National residential mortgage lender PrimeLending, a PlainsCapital Company (PrimeLending), proudly offers Green Home Loans, a range of mortgage solutions for homeowners who want to finance environmentally beneficial upgrades to homes they are purchasing or already own. Energy efficient upgrades not only reduce a home’s carbon footprint, they also can increase property values and save money over time. Energy efficiency is a growing concern for American homeowners according to a 2023 study by Thumbtack1 that found 71% of homeowners said sustainability is absolutely a priority for this year’s home projects, yet nearly one-third (32%) still consider sustainable, energy efficient home upgrades too expensive. “Green Home Loans are a huge win for PrimeLending customers by helping to remove financial obstacles to making energy efficient upgrades,” said Tim Elkins, Chief Production Officer at PrimeLending. “We are committed to offering mortgage solutions that align with our customers' goals, such as saving money, increasing property value, and protecting the planet.” PrimeLending’s Green Home Loans are mortgage solutions that allow borrowers to finance certain green improvements, such as: Energy-efficient windows and doors Solar panels or solar-powered appliances Roof, floor, or wall insulation Energy-saving HVAC systems and appliances PrimeLending’s Green Home Loans include FHA, VA, USDA, conventional and renovation loan options and may offer favorable interest rates, repayment terms, and other benefits for the borrower. Consumers can connect with a PrimeLending home loan expert for more information. About PrimeLending PrimeLending is a national home lender combining personal guidance and local expertise with fast service, more choices and the flexibility to meet homeowners’ unique needs. PrimeLending is focused on empowering its customers to pursue their homeownership goals, whether they’re looking to buy, refinance, renovate or build a home. The PrimeLending team works alongside our customers in all 50 states, helping them make home financing decisions and have a rewarding experience along the way. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). More information at www.PrimeLending.com. Equal Housing Lender. All loans subject to credit approval. Rates and fees subject to change.

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Payments

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ServiceNow | January 25, 2024

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