Gridex Protocol's Native Token, GDX, Surges by Over 422% in 24 Hours After Listing on D5 Exchange
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The Gridex, the first-ever on-chain trading protocol for the Ethereum ecosystem, has officially listed its native token, GDX, on the D5 Exchange. CoinMarketCap data shows that GDX reached a record high of $0.742, an increase of 422%. Arbscan's data also shows that GDX is owned by over 10,000 addresses. In an effort to enhance trading on D5 Exchange, Gridex has introduced trading pairs such as GDX/USDT, GDX/USDC, and GDX/GMX.
With a maximum supply of 200 million, GDX's allocation is divided into 70% for community distribution, including airdrop, PoS rewards, and maker rewards, and the remaining 30% for project development and marketing, as well as rewarding core contributors and early investors. The maker rewards campaign is currently being carried out on Arbitrum One on the GDX/ETH trading pair (0.05% grid), starting from March 15th, 2023. The total prize pool for the maker rewards campaign is 54 million GDX. After the first day of trading, the top 1 address user received up to 39,448.36 GDX for yesterday's trading.
Gridex To Feature at the Paris Blockchain Week 2023.
Gridex Protocol will serve as a strategic partner for Paris Blockchain Week 2023, which will take place in Paris from March 20th to 24th. It is one of the most influential global events in the blockchain industry, where some of the greatest minds meet in person. Business leaders, investors, entrepreneurs, and developers gather to ideate and drive progress. Ali Al-Ali, the Technical Lead of Gridex and one of its early contributors, will be speaking at the Summit Event on the topic of how on-chain order book trading protocol can be used to drive the adoption and development of global DeFi.
The partnership with Paris Blockchain Week 2023 is an important milestone for the Gridex Protocol as it looks to expand its reach and influence in the industry. By participating in such high-profile events, the company can raise its profile and build relationships with other industry leaders and innovators, paving the way for future collaborations and partnerships.
The Gridex Protocol is a permissionless and non-custodial trading protocol consisting of a set of persistent, non-upgradable smart contracts on the Ethereum blockchain. Unlike the current mainstream decentralized exchanges based on the Automated Market Maker (AMM) model, Gridex is based on order books. With its novel Grid Maker Order Book (GMOB) model, Gridex has significantly reduced the resource consumption of running an order book-based system, allowing it to deploy and run it on the Ethereum blockchain while making the gas cost comparable to that of AMMs.
The Gridex Protocol aims to revolutionize the crypto trading experience by utilizing cutting-edge technology to offer a complete DeFi solution that caters to the needs of every trader. If widely adopted, it has the potential to change the entire ecosystem of DEXs.