IDEX, a leading decentralized exchange (DEX), today announced it has selected Algorand as one of the platforms on which to advance its DEX technology.
With a long term vision for a comprehensive network of non-custodial trading, IDEX plans to explore expansion to other platforms where in-demand assets exist.
With Algorand, IDEX can develop a solution with full finality, tokenization of assets, and programmatic transfers at Layer-1. Looking ahead, Algorand’s forthcoming tech also offers IDEX an opportunity to offload smart contract complexities onto the Algorand platform’s native features.
Last week, Algo Capital, the financial organization focused on accelerating access, adoption, and liquidity of the native Algo token, announced the closing of its Algo VC Fund at $200 million.
Besides holding a large stake in Algos, the fund will invest in emerging disrupters with proven business models, scalable revenue, and a clear path toward profitability. IDEX was named as one of the initial portfolio companies.