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 AMM pool supported by perpetual liquidity mining program. On the other hand, Polkadex orderbook 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 a sufficient liquidity, one of the major downsides of DEXes powered by an orderbook. 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 how 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.