IDEX is the first decentralized, smart contract-based exchange built on Ethereum, enabling real-time trading and high transaction throughput. IDEX is the most advanced Ethereum DEX, supporting limit and market orders and allowing you to make multiple trades in one transaction. It comprises a smart contract, a trading engine, and a transaction processing arbiter. The smart contract is responsible for trustlessly storing all assets and executing trade settlements, and all trades must be authorized using your private key.

Unlike other decentralized exchanges, IDEXs smart contract is designed so that only the exchange has the authority to submit signed transactions to Ethereum. This allows IDEX to control the order of transaction processing, separating trading actions from final settlement. When you place a trade, your exchange balance is updated in real time while you use your private key to authorize the transaction in the contract. This authorization prevents you from canceling any completed trades and prevents IDEX from initiating any unauthorized trades.

Authorized transactions are passed to the arbiter, which manages the pending transaction queue and schedules them in order to ensure each transaction is mined in the correct order and that the smart contract balance remains synchronized with the exchange balance. By controlling the transaction order, IDEX provides the speed and user experience of centralized exchanges with the security and auditability of decentralized exchanges.

IDEX Security

All funds held in your IDEX wallet are always under your control. IDEX cannot trade, withdraw, or make any other transaction with your funds without your authorized cryptographic signature. Because IDEX keys are the only ones authorized to submit withdrawal transactions, we provide an escape hatch that allows you to withdraw funds directly from the contract after a period of inactivity. This ensures that you can still withdraw funds from the contract even if the IDEX servers are unavailable.

IDEX Exchange App

IDEX does not currently have a mobile app, but the IDEX official blog shows that there is a test version of the app and it may be officially launched soon.