Aurora Labs S.A. today has announced a strategic engagement with WINGS Foundation ensuring that all ICOs participating in the WINGS crowd evaluation process will be listed on the IDEX immediately after launch. IDEX is Aurora’s decentralized Ethereum exchange with real-time trading, automatic trade matching, free order cancels, and a market making rewards program.
Additionally, users will not be required to purchase or hold specialized tokens to execute trades. Instead, trade fees are collected automatically from the currencies in which the user is trading, creating a more seamless trading experience. These unique features have garnered IDEX over 18,000 active users and almost $4M in daily trading volume only 4 months after launch.
“Fully decentralized exchanges are inherently slow and unintuitive in their current state,” said CEO Alex Wearn. “However, IDEX combines powerful on and off-chain technology in a way that allows users to trade securely along with the speed, matching capabilities, and ease-of-use previously limited to centralized exchanges. As blockchain technology scales, IDEX will transition to a fully-decentralized architecture built upon our upcoming Snowglobe protocol.”
To jumpstart liquidity, all ICOs participating in the WINGS crowd evaluation process will be listed on IDEX immediately after launch. Additionally, the next 50 companies to raise over $5 million using WINGS for ICO price forecasting and evaluation will receive IDEX membership tokens (IDXM) to encourage trading.
Sale participants received Aurora’s IDXM membership tokens as well as their AURA staking tokens on January 17th. IDXM provides benefits such as reduced trading fees or increased market making rewards paid in AURA until the year 2021. AURA is Aurora’s network Proof-of-Stake token, allowing those who stake AURA to be compensated for providing security to their upcoming Snowglobe sidechain protocol. Both tokens are currently available on the IDEX exchange.
This two-tiered token structure not only encourages early adoption of the IDEX trading platform but ensures the long-term stability for future Aurora developments, which include a price-stable cryptocurrency (the boreal) as well as a decentralized banking and loan solution (Decentralized Capital).