Non-custodial trading platform IDEX, which operates on the basis of Ethereum, plans to add support for two new blockchains-Binance Smart Chain and Polkadot.
According to Alex Wearn, CEO of IDEX, after the launch of the platform’s smart contracts on the new networks, holders of IDEX tokens on Ethereum will receive an equivalent number of tokens in Binance Chain and Polkadot. At the same time, Alex Weirn noted that now it is very difficult to compete with Ethereum in popularity, but IDEX is going to be “one of the first to take its place” in the new networks.
The new tokens will be distributed on December 7, and if the user does not have time to request their tokens on Binance Chain and Polkadot in time, they will be transferred to the community. Trading on the new networks will be launched, as the developers hope, in the first quarter of next year.
Weirn stressed that IDEX continues to work on becoming a full-fledged analogue of centralized cryptocurrency exchanges. The launch on Binance Smart Chain is almost ready, but the details of the launch on Polkadot still need to be worked out.
The choice of Polkadot and Binance Chain is not accidental — both networks are fully compatible with the Ethereum Virtual Machine (EVM), so the transfer of smart contracts should pass without any problems. According to the CEO of IDEX, the platform hopes to launch on other promising blockchains in the future. But full-fledged trade between blockchains can not yet be expected:
“Full-fledged cross-chain trading will appear in many years.”
In August, Quantstamp conducted an audit of IDEX 2.0 smart contracts.