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Polkadex Migrates Native Token PDEX From ERC-20 to Substrate -Breaking

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Polkadex migrates native token PDEX from ERC-20 and Substrate
  • Polkadex has moved its native token PDEX, from ERC-20 into Substrate.
  • The PDEX token is also available on Gate.io.
  • ERC-20 users can move from Substrate to Substrate up until Q1 20,22. Then, ERC-20 is disabled.

Just months after launching its mainnet, Polkadex announces its native token PDEX has been listed on one of the world’s leading exchanges, Gate.oi. It is indeed a significant step for this non-cordial peer-to-peer trading platform.

The listing is essentially a signal that the PDEX ecosystem has been removed from Ethereum. It was only a temporary decision taken at the beginning of this project. It is good to know that Polkadex users are able to move from ERC-20 up until Q1 20,22 to Substrate. Once Substrate has been activated, then the ERC-20 can be disabled. According to Vivek Prasannan (Executive Director, cofounder of Polkadex), the topic of PDEX token migration is

Since the start, migration of native PDEX tokens was on our agenda. Our mainnet launch was a success because we have met all deadlines. Next is to migrate PDEX from ERC-20. This was a temporary fix that served its purpose and will be the next step in maintaining the Polkadex eco-system.

Polkadex is a peer-to-peer and order-book-based exchange for DeFi built on Substrate that blends DEXs’ secure and non-custodial format with the open and user-friendly form of CEXs. Polkadex is a combination of AMM pools and order-books. It uses on-chain bots to prevent price slippage.

Polkadex has many tools available to ensure that crypto investors, traders and stakers have a smooth and secure experience. You will also find low to no gas costs, an easy KYC process, self-sovereignty and a PolkaIDO Launchpad.

PDEX tokens, which are the basic tools in the Polkadex ecosystem allow users to use the whole range of Polkadex services. PDEX tokens may also be used to make payments and obtain discounts on transactions and trading fees. This allows you to join Polkadex’s IDOs. Participate in network governance on the blockchain, and PDEX stakers have the opportunity to become validaters of the proof of-stake network.

According to the Polkadex team, the migration was an important step in making the ecosystem more secure. Polkadex will offer a 65% average annual percentage yield to those who stake PDEX in the native chain to motivate them to make the move to ERC-20. Important to mention that Gate.io’s listing supports native tokens. This makes it easier to transfer assets to the Polkadex network.

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