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

by Mike Robinson

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Polkadex Moves Native Token from ERC-20 to Substrate

Polkadex (the order-book platform for DeFi built upon Substrate) has listed its native token PDEX at Gate.io. This marks the beginning of migration from ERC-20-based PDEX.

Polkadex’s native PDEX token was launched on the mainnet in September. It was originally built to be an Ethereum-based ERC-20 temporary solution during the testing period.

Polkadex customers will have the ability to migrate to native chains from ERC-20 until Q1 2022. Then, ERC-20 is disabled. You will get more benefits if you migrate earlier.

“Migrating PDEX native tokens has been on our roadmap since the beginning,” says Vivek Prasannan, Executive Director and co-founder at Polkadex. “We have worked hard to keep up with our deadlines and we are satisfied with our mainnet launch. The next step to maintain the Polkadex ecosystem is the migration of PDEX from ERC-20, which has been a good temporary solution that now served its purpose.”
Polkadex for DeFi is peer-to–peer, order-book-based and order-book-based exchange. It was built on Substrate and aims at combining the non-custodial and safe format that DEXs offer with the easy-to-use structure and functionality of CEXs.

Polkadex uses AMM pools and order-books to achieve this goal. They are governed by On-chain Bots which work to prevent price slippage.

Furthermore, in order to make a small and efficient exchange, Polkadex only allows for verification functions. Market data aggregation is done off-chain.

Polkadex has many tools for crypto investors, traders and stakers. They offer low to no gas-fees and self-sovereign funds.

PDEX tokens, which allow you to use all Polkadex features, are an essential tool within the Polkadex eco-system. PDEX tokens allow users to trade and pay for transaction and trading fees at a discount, participate in Polkadex-related events (IDOs), and take part in the on-chain governance and management of the network. PDEX stakers have the opportunity to be validators in the proof of stake network.

PDEX tokens were supported during testnet on ERC-20. However, the migration to native PDEX tokens is an important step in making the Polkadex environment even more secure. Polkadex will offer a minimum APY of 65 percent to users that need to migrate quickly. Gate.io now supports native tokens which make it easier to transfer assets between Ethereum and the Polkadex network.

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