LONDON, Feb. 18, 2023 /PRNewswire/ -- Gridex Protocol, a cutting-edge trading protocol on Ethereum mainnet and layer 2s that features a fully on-chain order book, was a proud sponsor of the European Blockchain Convention in Barcelona, that took place between February 15-17, 2023. As a diamond sponsor, Gridex Protocol made its European debut by participating in the event, which brought together over 3,000 attendees and more than 200 speakers. The event is the most influential blockchain and crypto event in Europe and features Web3 creators, builders, founders, CEOs, and investors, discussing a range of topics including blockchain, crypto, NFTs, DeFi, metaverse, and Web3.
On the second day of the event, Ali Al-Ali, co-founder and technical lead of Gridex, spoke to an audience of crypto industry leaders and enthusiasts about how a fully on-chain order book protocol is the key catalyst for DeFi mass adoption.
With current mainstream DEXs being primarily based on Automated Market Maker (AMM) models, Gridex instead adapts order books – a model usually utilised in centralized exchanges (CEXs) – to be viable on-chain.
"While the AMM model brings convenience, it is more of a compromise to adapt to an on-chain environment, and there are issues such as impermanent loss on volatile pairs, high slippage and limited trading functionality. On the other hand, order books have a lot more trading functionality but require a lot of computation", Ali said.
"Gridex however, has achieved a historic breakthrough by reducing the resource consumption to as low as an AMM (and in some cases even lower). This has been made possible through our revolutionary Grid Maker Order Book Model, the first fully on-chain order book on Ethereum that determines the most suitable trade instantly. As well as this, maker orders allow traders to place orders of any size and price, without fear of slippage and no impermanent loss to worry about. With these features, we truly believe the Gridex Protocol is the pioneer for the future of trading, and we invite you all to try it."
The Gridex Protocol is a permissionless and non-custodial order book trading protocol consisting of persistent, non-upgradable smart contracts on Ethereum. Its next step is the development of Gridex Proof of Stake (PoS), which will enable it to become a layer 0 cross-chain order book protocol that supports all mainstream layer 1s and generalized layer 2s, including Ethereum, Arbitrum, Optimism, Polygon… and Bitcoin. Gridex is devoted to offering an excellent user experience, driving decentralization and transparency throughout the DeFi market.
In conclusion, the European Blockchain Convention has provided a great platform for Gridex to share new ideas and connect with like-minded people. Gridex Protocol will officially launch in March 2023, with the Gridex PoS set to launch in Q1 2024.
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Source: Gridex Protocol