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Gridex Protocol’s airdrop of 4,000,000 GDX snapped up within 24 hours!

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The Gridex team has announced the successful completion of a 4,000,000 GDX token airdrop in less than 24 hours. More than 3 million addresses were eligible for the airdrop on 13th February, with the first 100,000 addresses to enter receiving rewards. The overwhelming demand for the airdrop is a testament to the community’s incredible support and enthusiasm for Gridex Protocol’s game-changing technology and trading features, which are poised to set a new standard for decentralized crypto trading.

The first fully on-chain order book Protocol on Ethereum

Gridex Protocol is the first on-chain order book protocol for Ethereum ecosystem, including Ethereum mainnet, Arbitrum, Optimism, and Polygon, making it possible for traders to enjoy the benefits of both CEXs and DEXs. The cutting-edge architecture of Gridex Protocol allows it to perform like and give the user experience of a CEX while preserving the security of a DEX. This makes it an ideal option for traders who want the best of both worlds – the user experience of a CEX, and the decentralization and self-custody of a DEX.

Gridex Protocol allows users to swap or place maker orders in order books, with the entire transaction process being executed on-chain. This eliminates potential trust issues associated with off-chain limit orders and reduces the risk of price slippage and MEV attacks.

GMOB model: the solution to pain points of using an on-chain order book

Implementing an order book on the blockchain is difficult due to the performance limitations of public chains and high gas fees for transactions. The algorithm of a matching engine needs to use lots of resources on-chain, making it challenging to replicate the order book model.

Gridex Protocol resolves the issue of high gas costs for running an order book-based system on Ethereum by introducing the Grid Maker Order Book (GMOB) model, which uses narrow price ranges instead of specific prices for maker orders and awards negative trading fees for providing liquidity. This reduces resource consumption and lowers gas costs to levels similar to those of AMMs.

Gridex Protocol is on the Rise

Gridex Protocol is continuously enhancing its ecosystem and establishing partnerships to expand its reach. It offers various opportunities for generating revenue, making it an attractive choice for both traders and investors. The platform’s fully on-chain experience and low fees make it an innovative solution in the DeFi space, and it is poised to revolutionize the decentralized trading experience. 

For more information about Gridex Protocol please visit the links below:

Visit Our Website:

https://www.gdx.org/

Follow us on Twitter

https://twitter.com/gridexprotocol 

Disclaimer: This is a paid post and should not be treated as news/advice.  

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With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.
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