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Polkadot's Polkadex Goes Live, Teases ERC-20 Token Migration

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Wed, 09/29/2021 - 13:36
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Vladislav Sopov
Native decentralized cryptocurrency exchange on Polkadot goes live on Sept. 29
Polkadot's Polkadex Goes Live, Teases ERC-20 Token Migration
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Substrate-based decentralized exchange Polkadex (PDEX) deploys its contracts in mainnet.

Polkadex starts operating on Polkadot

According to the press release shared with U.Today, Polkadex, one of the decentralized finance protocols on Polkadot's Substrate, goes live in mainnet on Sept. 29, 2021.

This peer-to-peer orderbook-based product includes a variety of solutions for the main DeFi-specific operations, i.e., staking, validating, "yield farming" and so on.

PolkaIDO dashboard for decentralized tokensales, Polkadex Orderbook non-custodial trading module and Polkapool liquidity platform are three pivotal elements of Polkadex.

Polkadex CEO Gautham J stresses the importance of Polkadex to migrating to the native decentralized platform:

This mainnet release is a big milestone for Polkadex. It marks the beginning of the whole series of events unfolding in the next few months. Polkadex network will act as the main decentralized layer hosting all our dApps including PolkaIDO, Polkapool and Polkadex Orderbook.

Core asset PDEX becomes native token

To initiate liquidity processes on Polkadex, its team also announced the migration of its core utility token PDEX to the native blockchain.

In inaugural releases of Polkadex, PDEX tokens were minted on Ethereum (ETH) as ERC-20 assets.

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To facilitate seamless migration, Polkadex developers created a purpose-made one-way value bridge for all holders of ERC-20's PDEX.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)