IDEX was the first Ethereum-based decentralized smart contract exchange to support real-time trading. It is operated by Aurora, which was founded and registered in the Republic of Panama in 2016 by a group of cryptocurrency enthusiasts who aspired to support the cryptocurrency movement.
Founder Alex Wearn is experienced in the design and delivery of software products having managed a wide range of operations for Amazon, Adobe, and IBM. He once led a product management team in re-platforming their application to operate on a private Ethereum blockchain.
Alex's brother and co-founder, Phil Wearn, has a background in aerospace engineering. Prior to IDEX, he founded EtherEx, where he identified the pressing need for a high-performance decentralized exchange protocol, an insight which served as the basis for the IDEX exchange.
At inception, the primary components of Aurora included a cryptocurrency bank (Decentralized Capital) and a financial asset exchange (IDEX) which worked together to offer modern financial services.
Unlike most other decentralized exchanges, IDEX began by building a smart contract that only allowed the exchange to submit signed trades to Ethereum. This enabled the exchange to control the order in which transactions were processed, separating the act of trading from the final settlement. In December 2017, Aurora launched its own stable coin, the Boreal, to recreate and improve upon the existing financial ecosystem in a decentralized fashion.
IDEX was the first crypto exchange to deeply integrate its data with Nomics in 2018, and is an A+ Verified Exchange. This verification means that Nomics has vetted IDEX's trade history and confirms that exchange data meets the highest standards of integrity, transparency, and consistency.Read More