How many of you still using IDEX

[Adbitco]

When we talks about exchange then days we can't talk without including IDEX or Etherdata, I don't know how many of you remembered these exchange as of currently. Decentralized exchange such as IDEX and Etherdata was one of the first time dex we used back then in the days to swap our ethereum based coin, from my observation this exchange began to diminish when there is alternative to ethereum network or do i call it a competitor in the network?

Where in less year we began to see other dex are launching from Binance Smart Chain and the rest network, till never heard any news about these exchange anymore. Now the reason I bring up this post was because I opened my cmc and I saw the IDEX coin seems to have woke up after the long period of dead, this is to say people has started using back the exchange unlike it was previously abandoned.

Do you still used this exchange again or you prefer using UNI or 1Inche and some others DEX?

[hugeblack]

Just zoom out



The token's failure to reach levels close to ATH and even regain the uptrend is a bad sign especially since we are talking about a utility token. IDEX was an average platform and I had a bad experience with them, I hope this is a better version of them.

inshort, stay away from it

[Cointxz]

I stop using these exchanges since they started to introduce KYC requirements that makes them not a real DEX.

I do use them a lot in the past since new token is listed there by devs due to its DEX property. IIRC Uniswap makes them out of the business due to the feature to let users add liquidity on exchange which is the number 1 cons of DEX back then for having thin liquidity.

[danherbias07]

Those two are forgotten.

Yeah, they are the go-to exchange of every ICO supporter after they are paid with tokens under the ERC20 network. That's actually where I sold most of my ICO airdrops and some salaries paid in their tokens while promoting their project through signature campaigns and social media networks.
Sadly, I don't use them anymore. I'd rather go directly on an exchange that supports the token or Pancakeswap, poocoin, and other similar swap exchanges.
How can we use those two if no one is buying or selling anymore? We can only rely on the popular ones when it comes to decentralized exchange because that's where the volume is.

[salad daging]

This is a DEX exchange that used to be used several times when Ethereum gasfee was still cheap but has not used IDEX for a long time because if I'm not mistaken IDEX implements a KYC system so they are not fully DEX?

What's the update now that you say this token is built?

I mostly use DEX which is multichain that makes it easier to move assets from L1 to L2 or from L2 to L2 with a cheaper network.
Like IDEX is not interesting anymore, it has started to be abandoned by users.

[pakhitheboss]

I stop using these exchanges since they started to introduce KYC requirements that makes them not a real DEX.

Exactly my point the day they made KYC mandatory I left using that exchange. After that policy change I do not think that it can be called as a DEX as CEX ask for KYC. Eventually they lost a good volume due to this decision.

I do use them a lot in the past since new token is listed there by devs due to its DEX property.

You are right at that time IDEX was the only exchange using Ethereum blockchain due to which new ERC20 tokens were getting listed on it. After uniswap things got changed a lot and now for trading token on Ethereum blockchain uniswap is the DEX everyone is using.

 

[X-ray]

Definitely prefer some other dex with huge liquidity and trading volume

as for IDEX, the 24h volume is small enough for it to be hardly relevant anymore, I used it frequently back then, but never looking back again because the competitors are just far better and far innovative.



IDEX just can't keep up with the competition anymore

[hugeblack]

This is a DEX exchange that used to be used several times when Ethereum gasfee was still cheap but has not used IDEX for a long time because if I'm not mistaken IDEX implements a KYC system so they are not fully DEX?

In the early days, the term decentralized referred to the possibility of linking your account to the wallet to make the transfer, but IDEX was centralized and claimed to be decentralized and required no-KYC from users. A few weeks ago, 'Decentralized' Exchange IDEX^[1] to Introduce Full KYC, so it is better to avoid using it at all.

[1] https://www.aicoin.com/en/article/51835

[FinneysTrueVision]

I used ForkDelta to dump some ICO tokens a long time ago but I had not heard of IDEX in many years. The idea of having to do KYC to use a decentralized exchange didn’t make any sense and I can see why they lost popularity. As a trader, if you are going to do KYC, you might as well use a CEX instead of doing expensive on-chain transactions.

I looked at their website and it has relaunched as a perpetual futures exchange on their own Arbitrum based appchain called XCHAIN, where trading is gas free. They have also gotten rid of the KYC requirements, but at this point the damage might already be done. There is plenty of perpetual DEXs already and I don’t see users coming back in large enough numbers to regain their status as being the most popular.