On March 15, GDX, the native token of Gridex Protocol, the first fully on-chain order book trading protocol on Ethereum, will go up for trading on D5 Exchange. This represents the next phase of the ground-breaking collaboration between Gridex and D5, the first Ethereum DEX that is entirely on-chain.
The second round of Gridex’s airdrop, which distributed 3 million GDX to users over the course of 10 successful days, has just come to an end. The Gridex team increased the overall airdrop allocation from 2 million to 3 million GDX tokens in order to meet the exceptionally high community demand.
Now that its token has been launched on exchanges, the team has moved on to the next phase of its plan. 200 million GDX will be available, and it will serve as the Gridex PoS blockchain’s native token, according to Gridex.
The remainder of the GDX tokens will be created after the Gridex PoS has been successfully launched. GDX will initially be available as an ERC-20 token on Arbitrum with a maximum supply of 104,000,000. Regarding the distribution of GDX, 70% of GDX will be given to the community as airdrop, maker, and PoS rewards. Additionally, 30% will be used for project development and marketing, as well as to thank early investors and core contributors.
The launch of the GDX token, which will be a key component of the future Gridex ecosystem, gives the Gridex Protocol the ability to forge ahead with the next stage of development while creating a more robust and potent order book trading protocol. Users who took part and won prizes in the first and second rounds of GDX airdrops are devoted Gridex Protocol supporters and will get special advantages in the upcoming round of promotional activities.
An Innovative Experience in On-Chain Trading
The shortcomings of the conventionally used automated market mover (AMM) model of DEXs and the security issues of CEXs are addressed by Gridex’s self-developed Grid Maker Order Book (GMOB) model and Grid Price Linear Movement (GPLM) algorithm.
Trades are completely on-chain executed through the GMOB model and GPLM algorithm, gas costs are comparable to AMMs, and traders can place trades of any size at any price. Additionally, traders don’t have to be concerned about a lack of liquidity because it is gathered from other users via the Gridex Protocol and other significant DEXs.
The safety of user assets is Gridex’s top priority, so it hired CertiK, a renowned blockchain security firm, to thoroughly audit the platform. Users can be confident that the entire platform, including smart contracts and security architecture, is secure because the audit found no security issues.
The Gridex Protocol aims to lead the blockchain sector by continuously enhancing the decentralized trading environment through innovation. Throughout 2023, Gridex Protocol will actively participate in international blockchain industry technology conferences to promote this vision. In addition, Gridex Protocol will increase its exchanges and collaboration with top industry players to continuously enhance product performance and cater to users’ evolving needs.
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