Polkadex – 76% |
Review Date: March 30, 2021
Polkadex is a trading platform catered towards both Uniswap and Centralized Exchange markets. It provides two
products initially, Polkadex Orderbook and Polkapool AMM. Polkadex Network allows traders to get the best of both
worlds by providing a no KYC, feeless swaps, and liquidity on the AMM pool supported by a perpetual liquidity mining
program. On the other hand, the Polkadex order book improves upon the centralized exchange market by providing a
non-custodial, decentralized KYC’ed, fiat supported Orderbook-based exchange with institutional grade liquidity
and institutional trading bot support. Polkadex Network will become a parachain when it secures a parachain slot in
Polkadot, opening the path towards DOT and other assets in the Polkadot Ecosystem.
Part of the Polkadot ecosystem, Polkadex is an interesting DeFi project mixing the traditional and probably
more reassuring mechanism of Orderbook with the most popular approach in decentralized exchanges of
AMM. This presents the advantages of allowing more users to be able to use this DEX while giving access to
sufficient liquidity, one of the major downsides of DEXes powered by an order book. The project is currently under
development and the public GitHub repositories are showing developer activity. The testnet demo they currently
have online looks more like an interactive mockup than a real testnet prototype fully featured, and we would have
liked more technical details on the implementation. We are still looking forward to seeing what the final product will
look like and Polkadex is well-positioned to be one of the top choices in the Polkadot DeFi market. The token is not
available yet and as the smart contracts are being audited, the IDO should take place during April.
