Gridex Protocol, the first fully on-chain order book trading protocol on Ethereum, has announced that it will list list GDX, its native token, on D5 Exchange on 15th March. This marks the second step in the trailblazing partnership between Gridex and D5, the first fully on-chain DEX on Ethereum.
The second round airdrop by Gridex, which ran successfully for 10 days and saw 3 million GDX airdropped to users, has just come to an end. To satisfy the exceptionally high demand from the community, on March 6th, the Gridex team increased the overall airdrop allocation from 2 million to 3 million GDX tokens. As a result, an additional 200,000 GDX were airdropped everyday throughout the remainder of the event.
The team has now advanced to the next stage of its plan, launching its token on exchanges. According to Gridex, GDX will act as the native token of the Gridex PoS blockchain, with the total supply being 200 million.
Before launching the PoS, GDX will be an ERC-20 token on Arbitrum with a max supply of 104,000,000 GDX, and the rest will be minted after the successful launch of Gridex PoS. As for the allocation of GDX, 70% of GDX will be distributed to the community for PoS rewards and maker rewards. In addition, 30% will be used to reward core contributors and early investors, and for project development and marketing.
The GDX token will play a crucial role in the future Gridex ecosystem, and its launching empowers Gridex Protocol to build a stronger and more powerful order book trading protocol in the next phase of development. Users who participated and received rewards in the first and the second round of GDX airdrops are loyal members of Gridex Protocol’s community and will be receiving special benefits in the next round of promotional events.
A Revolutionary On-Chain Trading Experience
Gridex's self-developed Grid Maker Order Book (GMOB) model and Grid Price Linear Movement (GPLM) algorithm solve the disadvantages brought by the traditionally adopted automated market mover (AMM) model of DEXs and the security concerns of CEXs.
Through the GMOB model and GPLM algorithm, trades are executed completely on-chain, gas fees are as low as AMMs, and traders can place trades of any size at any price. Furthermore, traders don’t need to worry about a lack of liquidity, as it is pooled from other users using the Gridex Protocol, as well as from other major DEXs.
Gridex's top priority is making sure that user assets are safe, so it hired a leading blockchain security company, CertiK, to undertake a comprehensive audit of the platform. The audit found no security problems, so users can be assured that the whole platform, including smart contracts and security architecture.
Gridex Protocol’s Vision and Next Steps
The vision of the Gridex Protocol is to be a blockchain industry leader, continuously optimizing the decentralized trading experience through innovation. To spread the word of this vision, Gridex Protocol will actively participate in global blockchain industry technology conferences and other industry summits throughout 2023, and engage in more exchanges and cooperation with leading industry players to continuously improve product performance and meet users' changing needs.
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