What is Gridex (GDX)

The Gridex Protocol is a decentralized trading platform that operates through a set of smart contracts on the Ethereum blockchain. It is permissionless and non-custodial, meaning anyone can participate and have full control over their assets at all times. Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (GDX/USDT – Trade it here) on our Innovation Zone! Check it out now!

What is Gridex (GDX)
What is Gridex (GDX)

What Exactly is Gridex?

The Gridex Protocol is a trading platform on the Ethereum blockchain. It uses order books instead of the Automated Market Maker (AMM) model. Furthermore, the platform is permissionless and non-custodial, consisting of a set of non-upgradable smart contracts. Gridex is using a unique Grid Maker Order Book (GMOB) model. It reduces the requirement of resources to run an order book system. This allows deployment on Ethereum with comparable gas costs to AMMs.

What is Grid Maker Order Book (GMOB) Model on Gridex?

The GMOB model is a revolutionary approach to trading. It is changing the game for traders looking for a more precise, efficient, and liquid trading experience. The rise of Automated Market Maker (AMM) model DEXes such as Uniswap has become the standard since 2020. The minimal resource consumption of the AMM model compared to the Central Limit Order Book (CLOB) model, which is mainly used in traditional exchanges, makes it easier to implement an on-chain system of smart contracts. However, the AMM model faces impermanent loss, high slippage, and inflexibility. It cannot meet the diverse needs of traders and market makers, especially for more volatile trading pairs.

Some DEXes hope to solve this issue by implementing matching engines and order books off-chain. However, it increases the risk of centralization and limits their ability to interact with other protocols effectively. Therefore, the Grid Maker Order Book (GMOB) model and the Grid Price Linear Movement (GPLM) algorithm were created to reduce resource consumption and easily implement smart contracts on the Ethereum blockchain.

Firstly, maker orders in the GMOB model are limited to a narrow price range based on a percentage instead of a specific price. This allows for more precise and efficient trading. Furthermore, maker orders in the GMOB model are added to the order book and granted negative trading fees. This enhances liquidity in the market and encourages more trading activity. Once a maker order is filled, the user is required to manually execute the ‘Collect’ operation to retrieve their assets and receive their rewarded fees.

Where to buy GDX Token

You can find GDX Token here at MEXC! We are listing GDX/USDT in our Innovation Zone!

What is the Price of GDX Tokens?

GDX token is currently trading at $1.19 per unit. It has a fully diluted market cap of $237,385,142. It also has a 24-hour trading volume of $656,905. You can check the live price of their token right here!

How to buy GDX Tokens

You can buy GDX Tokens on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “GDX” using the search bar to see the available trading pairs. Take GDX/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of GDX you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy GDX] to confirm your order. You will find the purchased GDX in your Spot Wallet.

You can find a detailed guide on how to buy GDX Tokens here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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