Newdex aims to evolve into a multi-chain DEX

Newdex, the most popular DEX on the EOS mainnet, recently revealed ambitions to become a Multi-chain DEX in order to take advantage of DeFi's modularity.

From second quarter of 2021, Newdex will work on the multiple chain integration. To fully use DEFI's composability, Newdex will launch ETH (including Layer 2), BSC, HECO, and other chains, aggregating numerous Swap depths and integrating features such as order book, K-line, price market, token information, etc.

"We will launch an aggregate decentralized Exchange with "best depth, best price and best experience", becoming the multi-chain DEX trading entry."

Newdex has devised the following development strategy in order to realize the aforementioned objectives:

1. Aggregate the depth of decentralized Exchange in multiple chains: Newdex intends to combine the depth of decentralized multi-chain exchanges. The aggregated chains include ETH (including Layer 2), BSC, HECO, and others, while the aggregated decentralized Exchanges include Uniswap, SushiSwap, PancakeSwap, 0X, Kyber Network, Balancer, Curve, Bancor, MDEX

2. Aggregate token information to improve decision-making efficiency: Users may search for tokens based on their symbol, project name, contract address, and sector affiliation.

3. The first virtual order-book feature to improve trading experience: Newdex proposes to build a 'virtual order book'

4. The advanced K-line is comparable to centralized Exchanges

5. Launch market list to search high-quality tokens: Users can find popular tokens based on indicators and tags.

6. Provide aggregate trading with low fees: cost-free aggregate trading will be available during the first launch stage, with customers just paying the GAS fee.

7. Deepen multi-chain POS mining pool services

8. Launch DAO governance to enhance the economic value of token

9. Launch IDO feature: Newdex will summarize, develop, provide consumers creative and fair IDO features, and eliminate the present IDO pain-points

10. Rename token, reduce total supply, and issue on multiple chains: The "NDX" platform token will be renamed "DEX." The total supply will be lowered to 100 million, with NDX being exchanged out for DEX at a 100:1 ratio. DEX will be released on various chains with a total supply of 100 million.

11. The long-term goal of trading everything on the chain: Newdex is seeking to launch its on-chain derivatives trading business. Newdex intends to expand its company into synthetic asset trading, leveraged trading, futures, option trading, and other areas in the future.

Sources:

• Newdex Whitepaper V2.0

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