The Aurora project and its decentralized exchange IDEX announced some key milestones today relating to the organization’s development. First off, since IDEX launched five months ago it has now reached 50,000 registered users. IDEX is also as of now the number one decentralized exchange by trading volume according to CoinMarketCap. Further, IDEX hit the $10M daily trading volume mark a few weeks ago, breaking through an important milestone.
There have also recently been new details released regarding Aurora’s AURA token and how it will allow the community to earn a share of fees generated by IDEX and future Aurora projects by staking the token and helping secure Aurora’s fully-decentralized network.
See below a quick overview of other important updates and developments:
More IDEX Platform Updates
- AURA rewards are now distributed to takers as well as makers (60% of all rewards go to takers/40% of all rewards go to makers). Previously, only makers would earn AURA rewards — now everyone who trades on IDEX earns rewards for every trade.
- IDXM bounty rewards were distributed to the community.
Performance of common interactions on IDEX, such as balance updates and order books, have been improved by over 3x. The team has plans to dramatically improve performance further in the near term.
- Network gas prices have become more transparent. The current gas price of trades and withdrawals is now displayed more prominently, helping users determine when it’s best for them to trade or hold off depending on network congestion.
The Future of IDEX
Aurora is working hard to build the first fully-decentralized, real-time financial services network. IDEX was only the start, with the team stating that if its success is any indicator of how much the market desires decentralized financial solutions, they expect to see the rest of the project grow similarly.
- Soon, Aurora will implement its fully-decentralized architecture through the launch of its sidechain protocol (facilitated by AURA staking).
- From there the team will begin to accumulate the reserves necessary to back its stablecoin—the boreal.
- As boreal usage grows, Aurora will begin to issue loans in the boreal through the world’s first cryptobank, Decentralized Capital.
- Andy Sack – Andy Sack is a venture capitalist and serial entrepreneur residing in Seattle, Washington. He is the co-founder of a number of companies including Founder’s Co-op, Lighter capital, Innovation Arts Group, Code Fellows and Techstars Seattle.
- Cory Klippsten – Cory has supported more than $150M of equity raises and token sales from top VCs in rounds ranging from $2–30M. He works with Distributed Network Advisors, BlockV, Tesloop, and Aurora (among other projects).
- Enzo Villani – As Managing Director for the NASDAQ stock exchange, Enzo co-founded NASDAQ Global Corporate Solutions Group. After spending six years at NASDAQ, he co-founded and became Chief Strategy Officer for the corporate communications investment fund SAGE Holdings. Prior to his current position as Managing Director of Transform Group, he was CEO of Equities.com — the world’s largest middle-market and emerging growth company content publisher