Polkadex is a decentralized cryptocurrency exchange built on the Polkadot network. It aims to provide a secure and efficient trading platform for users, leveraging the benefits of Polkadot's interoperability and scalability.
Polkadex focuses on solving the challenges faced by traditional centralized exchanges, such as high fees, lack of transparency, and custodial risks. By using a decentralized approach, it eliminates the need for intermediaries and allows users to have full control over their funds.
In terms of architecture, Polkadex utilizes a novel consensus mechanism called the "Continuous Order Book Model" (COBM). This mechanism allows for high throughput and low latency trading by continuously updating the order books. It also offers a non-custodial solution, ensuring that users always maintain control over their assets.
Additionally, Polkadex provides a unique token model to incentivize users and ensure the sustainability of the platform. The PDEX token is used for governance, staking, and transaction fees on the exchange. Holders of PDEX have the ability to participate in the decision-making process of the platform.
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