The modern DEX is designed to take advantage of the benefits of both CEX and DEXs by leveraging innovative technologies to enable more efficient transactions.
Since limitations are presented for both the modern CEX and DEX, many propose that for widespread asset adoption, a non-custodial platform that supports assets across many networks is needed. In theory, this experience would enable users to control their funds at all times without giving up the flexibility of a promising user experience.
Polkadex has proposed this next exchange iteration as a decentralized peer-to-peer order book-based cryptocurrency exchange. The project aims to become the trading engine of Web3 by combining the advantages of CEXs and DEXs while eliminating the disadvantages of both.
To achieve this, Polkadex has tailored a solution based on cutting-edge trusted execution environment technology. This solution allows Polkadex to take custody out of the equation for exchange operators, therefore creating a non-custodial exchange that performs just as fast as, if not faster, than centralized exchanges.
Much like centralized exchanges, Polkadex aims to support assets from across chains, albeit in a decentralized manner. For this purpose, Polkadex is not only developing THEA, a decentralized liquidity bridge that will first connect Ethereum (and other chains later on) to Polkadex, but it also recently won a Polkadot parachain slot which will allow it to connect to the wider Polkadot ecosystem.
Thanks to a community-driven campaign, Polkadex secured a win in auction 16 with a batch 3 record of…