IDEX (AURA) token staking

[Cryptodaddy05]

If anyone has any IDEX tokens (or AURA as it was first known) from using the IDEX Exchange 3 years ago when it was the ‘go-to’ DEX, I just wanted to make sure you know that IDEX has upgraded to their 2.0 DEX in Oct 20 with increased speed of transactions and lower gas fees and interestingly where trading will be available next year on the Polkadot Chain and Binance Smart Chain (BNB) as well as Ethereum with plans to cross-link and trade on other  chains too in what they call their ‘Multiverse’. And an important new benefit for IDEX token holders is that since Dec 7th this year you can passively stake the IDEX tokens on IDEX 2.0 to provide liquidity to the exchange with no minimum number of tokens staked required, and the benefit is that by staking you passively snd progressively earn the two new IDEXB tokens for the BNB Chain and IDEXP tokens for the Polkadot Chain that will both be released next year when IDEX goes live on those chains as well as it’s native ETH chain. And the deal is that over 2 years you will earn the same number of both IDEXB and IDEXP tokens as the number of IDEX tokens you stake, with 1/730th of your new tokens being earned each day over the 2yrs. And in addition you will also earn IDEX tokens for the other crypto chains they plan to cross-link with next year and the year after, with the amount of those tokens allocated based on how long you’ve staked IDEX from 7th Dec 20 to 6th Dec 22!

IDEX tokens are currently trading at 0.033 on Binance, and who knows what IDEX or these new IDEXB and IDEXP and other cross-link chain tokens will trade at in the future - but if the potential of “defi” is as big as some crypto experts think it will be there may well be there should be steady long term growth in de-fi token prices with 10x not being an unreasonable expectation - and there’s a change of another big explosion upwards of defi prices like happened in Sept 20 when Bitcoin breaks though $20K and runs 2-5x higher as most models and the money flowing in suggests it will in 2021 and that’s the scenario for possible 100x gains in tokens liie these especially if they ever become ‘flavour of the month’!

So I was therefore prompted to make this post for better general awareness of this staking option in the general crypto community, after I looked at the ‘cool’ Staking dashboard on the IDEX 2.0 website today where I’ve staked my 1,100 IDEX tokens that were lying dormant from 3yrs ago in my old IDEX 1.0 wallet, and the dashboard shows that after one week of staking I’ve earned 32 of the new multiverse tokens (16 IDEXB and 16 IDEXP) and that I will earn 2,200 new tokens if I stake my IDEX tokens for the full two years. So anyone holding IDEX or AURA tokens in an old IDEX or MEW wallet or wherever would be wise to stake them if they don’t plan to sell them anytime soon. And if you hold the original AURA tokens they can be swapped 1:1 for the new IDEX token you need to stake by using a smart contract on MEW, and the exchange has a link to a good Medium article that voarky explains how to swap AURA to IDEX step by step.

And lastly an Easter Egg or maybe I should say Xmas bonus - if you go to Binance Exchange and open the blog page there you’ll see they released a *google quiz page* today with four simple questions to answer about the new IFEX 2.0 exchange to get rewarded with $20 of IDEX tokens, and that’s 666 tokens at today’s price which is not to be sneezed at haha although that’s a weird number to come up with in these unsettled times hey lol!

So good luck staking on IDEX and enjoy Easter egg hunting on Binance and a happy Xmas to all early adopters of and believers in BTC and Crypto 👍🏼


Hmmm  TL:DR -
You can get rewarded with multiverse IDEXB and IDEXP tokens by staking IDEX tokens on the IDEX 2.0 Dex! You can exchange any old AURA tokens for IDEX tokens 1:1 using MEW. Binance have a quiz out today to win $20 of IDEX tokens. Merry Christmas to all 🎄

[RussianEnglishTranslation]

Frankly IDEX is a centralized exchange pretending to be a decentralized exchange. They geoblock users and only list certain tokens that I can only assume their leadership are already invested in. I heard they have KYC too. I don't know why anyone would put up with that when Uniswap lists all tokens for free, has no kyc, no geoblocking, no extra fees, they gave the community tokens instead of charging for them like IDEX, higher volume than IDEX. Gatekeeping exchanges like Loopring and IDEX are history, the future is decentralized and open.

[Cryptodaddy05]

Yes Uniswap is by far the most popular DEX with ~ 350,000,000 per day volume against IDEX’s <100,000 volume lately for the reasons you mention. I used Uniswap 2 days ago to provide liquidity for the Barnbridge Smart Yield Bonds, and I haven’t used the IDEX exchange in over two years. But the central exchanges like Binance are still by far the most popular option still with Binance’s 4.5 billion a day turnover, and that’s where I bought my USDC to use with Barnbridge. So sorry if I seemed to be promoting IDEX - I more meant to point out that it was the most popular DEX 3 years ago and that many of us may have some IDEX/AURA tokens in old wallets and that this is an opportunity to get free IDEXB tokens on the Binance Smart Chain and IDEXP tokens for the Polkadot chain that may well be worth something converting to BTC or ETH or whatever if the tokens on those chains do spike nice and high in the future! But yeah I doubt the original IDEX/AURA tokens for the IDEX DEX are ever going to be worth anything much, as they are tied in with a DEX that seems to have died a natural death as it pursued KYC and regulatory compliance and to be more like a centralised exchange rather than the first useable DEX it was that attracted a lot of interest 3 years ago.

[Cryptodaddy05]

Hello all - just wanted to update this post on the “party” decentralised ‘IDEX’ crypto exchange with some important time-sensitive info. IDEX went ‘live’ on Binance Smart Chain (BSC) on 2nd February - and you are able to trade now using IDEx on Binance’s also “partially” decentralised Binance Smart Chain with it’s plethora of dApps similar to those on UNISwap including ‘Pancake Swap’ the UNISwap equivalent on BSC who’s $CAKE token has done a 10x up 942% in the last 30 days! There are also many cross-chain DeFi projects and the Binance Bridge where crypto assets can be swapped from ERC20 to BEP20 BSC tokens. Instead of using $ETH as gas with its horrendous cost the last 2 weeks of $100-$150 for even small swaps of tokens or for making and providing Liquidity Tokens on the Ethereum Network, Binance Coin $BNB is used as gas on BSC with minimal gas costs and you can connect MetaMask as your wallet once adding BSC network to it. And since IDEX started BSC Trading the average gas cost of $BNB on BSC has been 15c per transaction compared which the $10 - write your own big figure cost of $ETH gas trading on the Ethereum network.

Anyway here is a link to the IDEX article explaining how to open idex BSC exchange and how to connect MetaMask wallet https://blog.idex.io/all-posts/idex-live-on-binance-smart-chain

I said the intel is time-sensitive because there is a bonus for making one trade or more on IDEX BSC Exchange in the first 2 weeks of trading which ends in 3 days - and that is sharing in a pool of one million of the new IDEX-B BEP20 tokens that have been accumulating as well as rewards for staking ERC20 IDEX on the Exchange as per my OP! But given IDEX’s low trading volumes and seeming obscurity ATM that’s likely to change with this BSC development there’s a good chance of getting a decent amount of IDEX-B tokens for just one trade on BSC using IDEX exchange with a deadline of 2-3 days! Fair notice and warning!

And omg its good to have transaction costs of 20c I’d less with token swaps and liquidity provision on BSC after ETH gas costs have been over $100 per transaction nearly every time I’ve set up a smart contract on the Ethereum Network the last week.