One year after the launch of Polkadex network, the project team announced the launch of a decentralized order book (DEX) trading platform for digital assets.

According to the Polkadex project team, DEXs such as Uniswap have changed the principles of crypto-asset trading over the past few years and provided traders with control over funds. However, the automated market maker (AMM) model popularized by such DEXs suffers from exorbitant transaction fees, low compatibility and limited functionality.

Therefore, many crypto-traders traditionally prefer to use advanced trading functions of centralized exchanges (CEX). Which are not only cheaper to use, but also offer a high level of functionality and compatibility. Although it seems riskier because of the risk of hacking and data leakage.

Polkadex CEO and co-founder Gautham J tweeted about the benefits of Polkadex Orderbook,

“For the first time the exchange orderbook will be directly linked to two leading ecosystems, Etherium and Polkadot. The project will evolve as a DEX crosschain, connected to all leading ecosystems and receiving its own liquidity from BTC, XRP, MATIC and similar crypto-assets.”

Gautham noted that while Polkadex Orderbook may look and function like a centralized exchange (CEX), the site remains unconnected to storage and will retain the security aspects of DEX. Right now, Polkadex Orderbook will only support one trading pair, PDEX/USDT, with USDT connected to Etherium via ChainBridge.

In the future, Polkadex will replace ChainBridge with its own decentralized bridge mechanism, THEA, which will allow deposits and withdrawals from Etherium to Polkadex and vice versa.

The head of the company announced the start of open beta testing, telling that Polkadex Orderbook will work with less liquidity for a while. This is a necessary security measure at the stage of debugging. Also, the project team announced the launch of a financial rewards program for testers, who found errors.

https://altcoin.ng/polkadex-network-launches-beta-testing-of-polkadex-orderbook/