We are thrilled to announce that Blocksync Ventures has made an investment in Polkadex, an emerging peer-to-peer decentralized exchange (DEX). Polkadex is primely positioned to become the preeminent DEX overseeing the Polkadot ecosystem. We’re proud to be a Polkadex backer and look forward to working with their team to ensure the project realizes its full potential.
In our mission to accelerate the development of blockchain interoperability and web3 technologies, we target projects with big ambitions and strong fundamentals. Suffice to say that Polkadex checks all of our boxes, with its ability to facilitate high-frequency trading, deep liquidity, and rapid order execution.
Polkadex has all the hallmarks of a game-changing defi protocol and is poised to become the lifeblood of Polkadot’s expanding defi world. Both entities, of course, are built on the same Substrate-based framework.
An Unmatched Order Matching Protocol
Polkadex is a highly anticipated order matching protocol that shares many similarities with existing defi market makers. Importantly, however, Polkadex engenders efficiencies by solving problems like front-running, price slippage, and impermanent loss via a mixture of fee-less transactions and on-chain marketing-making bots.
What’s more, Polkadex takes data such as technical analysis indicators and trade history and stores it off-chain, enabling higher throughput (approx 20,000 TPS) and a user experience more akin to that provided by centralized platforms.
Far from being a walled garden, Polkadex makes use of trustless cross-chain bridges to smooth the pathway for any digital token to enter the Polkadex universe in a non-custodial and trustless fashion. As such, traders can lock their crypto-assets on Ethereum using smart contracts and bridge liquidity to Polkadex, with Polkadot’s interoperability layer securing all assets. Polkadex also has the capacity to integrate with other liquidity providers via forkless upgrades.
Late last year, Polkadex launched its website and testnet, with a mainnet scheduled for Q1 of 2021. The versatile project’s vision of a bold new world of financial inclusion, with bridges facilitating transfer value from traditional money markets to a decentralized ecosystem, is one that we wholeheartedly share, and we have no doubt the project will succeed.
“We welcome onboard Blocksync Ventures and Jasper as a strategic advisor to Polkadex. While there is no shortage of DEXes, high network fees and lack of support for non-native assets results in a suboptimal user experience. Built on Polkadot’s scalable and interoperable protocol, Polkadex will pioneer a more efficient way to swap assets that incorporates the long tail of crypto assets across multiple chains.”
- Deepansh Singh (Polkadex COO)