Crypto.com Lists New Ethereum-Based Decentralized Exchange Token – The Daily Hodl

Singapore-based crypto exchange giant Crypto.com is listing a low-cap Ethereum-based hybrid liquidity decentralized exchange token.

In a new announcement, Crypto.com is introducing IDEX (IDEX), formerly AuroraDAO, for trading on the company’s app.

IDEX is a multi-blockchain decentralized exchange offering a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and incentivize platform adoption.

According to the Crypto.com press release,

“IDEX is the first Hybrid Liquidity DEX that blends the best of centralized and decentralized exchanges, with the performance and features of a traditional order book and the security and liquidity of an automated market maker (AMM). 

Users benefit from not having to pay additional network costs for placing or canceling orders. Placements are also processed in real-time, enabling advanced trading. 

IDEX is an Ethereum token that powers the IDEX decentralized exchange. IDEX holders can stake tokens in order to help secure the protocol and earn rewards.”

While many new coin listings tend to spark rallies, the price action of IDEX is barely responding to the news.

IDEX is currently trading for $0.20, down 3.73% in the last 24 hours.

The hybrid decentralized exchange is the second new token Crypto.com has listed this year after last week’s addition of Oasis Network (ROSE).

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Featured Image: Shutterstock/EVorona/Natalia Siiatovskaia

Read More:Crypto.com Lists New Ethereum-Based Decentralized Exchange Token – The Daily Hodl