1. Introduction
Gridex is a decentralized exchange based on the order book, and also the first full-chain and full-function order book DEX on Ethereum. Gridex is also connected with Arbitrum, Optimism, Polygon and other two-layer networks and side chains on Ethereum. The disruptively innovative design may start a new era of on-chain trading. The strongest newcomer will change the DEX game.
2. Disadvantages of traditional DEX
The traditional DEX is mostly built on the automated market maker model (AMM). For example, the top DEX such as Uniswap and Curve are the automated market maker model. Since 2020, the surging DEX trading volume has positively contributed to the AMM model. To some extent, it can be said that no AMM, no Defi. The AMM model, however, has its disadvantages. Market makers will suffer from losses, and traders will see high slippage and few flexibilities (for example, only orders at market price), especially when the market is volatile.
3. Innovation of Gridex
Based on the central limit order book (CLOB), the Gridex protocol creates the grid market-making order book model (GMOB) and the grid price linear model (GPLM). Compared with CLOB, the Gridex protocol is simpler, and the resource consumption on the chain is significantly reduced. The on-chain trading gas on Gridex is less than those on the AMM model. (Refer to the Gridex white paper for algorithm formula and logic: https://gridex.org/gridex-whitepaper.pdf ）.
4. Advantages of Gridex
Gridex has distinct advantages over traditional DEX:
1. Complete decentralization: currently deployed and tested on Ethereum, the entire transaction takes place on the chain, without depositing and withdrawing tokens. In addition, its token trading can be freely customized without any permission requirement. Although some of the current DEX also support order book models on the chain on a superficial level, they are the semi-centralized combination of on-chain and off-chain. Gridex is the first DEX with a fully decentralized on-chain order book model.
2. The maker order system brings new infrastructure on the chain, enabling traders to trade at any price, at any scale and at zero slippage, and leading to a low transaction cost, allowing a trading experience completely similar to cex to traders.
3. Liquidity market makers have weakened restrictions on liquidity, and the lack of liquidity in DEX has become a thing of the past. Gridex protocol can still run perfectly even if there is no market maker. This is because traders can not only use the liquidity provided by market makers in their own protocol but also use the liquidity aggregated from other dex to ensure traders can trade at the expected price.
4. Gridex can be deployed on the Ethereum chain and fully connected to, Arbitrum, Optimism, Polygon and other Ethereum two-layer networks and side chains.
5. Most of the native tokens (GDX) of the protocol will be distributed to community users in the form of rewards within one month before and after the formal release of the protocol. In addition, 100% of the commission will be used to repurchase and burn its GDX.
5. Integration to Web3 project
Gridex is completely decentralized and can be easily integrated with other protocols:
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DEXs and DEX aggregators;
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Defi tools, such as data aggregator and dashboard;
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On-chain wallet
6. Airdrop
At the end of December 2022, Gridex carried out a round of air drops of native token GDX among historical DEX traders and historical liquidity providers (LP) on the Ethereum blockchain. However, as the operational logic of projects, the airdrop was soon suspended.
The latest airdrop address:
The website information shows that it will restart the airdrop soon in the next month or two. Since most of the tokens of the Gridex protocol will be distributed to community users in the form of rewards within one month before and after the official release of the protocol, the airdrop is very attractive to test users. Any user can follow and participate in it: its address for test trading is https://testnet.d5.xyz/trade
7. Appendix
Gridex website: https://gridex.org/
Whitepaper: https://gridex.org/gridex-whitepaper.pdf
Twitter： https://twitter.com/Gridex5
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