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- Tuesday, November 29th, 2022 at 15:16 #413597mangoquarterzipParticipant
We invented a new order book model, significantly reducing resource consumption compared to the traditional CLOB model; that makes it possible to run a fully functional order book system as a set of smart contracts on the ETH blockchain while making the gas cost comparable to that of AMMs. We have named this novel order book trading protocol the “Gridex Protocol”.
1. Fully on-chain: Deployed and run on the ETH mainnet just like Uniswap.\* The entire transaction process is executed on-chain, with no deposit or withdrawal process needed.
2. “Maker Orders” in our protocol have introduced a new infrastructure to the ETH ecosystem, allowing users to place orders of any size and price while having a zero-slippage and low-cost (even negative-cost) trading experience.
3. Most of our native tokens (GDX) will be rewarded to community users in just over a month before and after the launch. 100% of the protocol fees will be used to buyback and burn GDX.
*\*The Gridex Protocol will also be deployed on mainstream generalized layer 2 networks of ETH, such as Arbitrum and Optimism.*
1. Smart contracts are undergoing final optimizations, which will be open-sourced next month with the testnet launch.
2. The airdrop will begin shortly. Follow the official Twitter for the latest updates.
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