Aurora labs are thinking of launching a decentralized platform where people can do trading of ETH tokens. IDEX does not only offer a real-time experience of trading to the traders but also gives smart contract security. IDEX will remove the issues related to the decentralized exchanges that are based on Ethereum. Through IDEX, people can quickly do backward and forward trading. Traders can place many orders at once and then cancel them without paying any charges.
Mr. Alex Wearn, the chief executive officer of Aurora, stated that the team of Aurora has been constantly working hard for the past 10 months to develop IDEX. He also mentioned that they have combat many problems, which were related to the decentralized exchanges through the fusion of on-chain agreement and the off-chain design. Traders need usability as well as security and now with the help of IDEX, they get both. Plus, they don’t need to sacrifice one customer for another.
The off-chain design of IDEX controls the experience of trading whereas the smart contract will manage the finances, final settlement, and trade authorizations. Traders can trade on IDEX consistently without waiting for new transactions to get created.
The sequencing and dispatching of authorized transactions on the blockchain are done by the transaction arbiter. The arbiter makes sure that the off-chain design is synchronized with the smart contracts. Aurora is planning to decentralize all the items of IDEX in the near future, which includes transaction management and book orders. By including all these things, IDEX can be transformed into a completely decentralized exchange platform that can meet the requirements of all the crypto-traders.
IDEX is the first product offered by the Aurora labs. It is a start-up formed to develop a completely decentralized investment and banking platform. The IDEX platform of Aurora is going to distribute its cryptocurrency named Boreal. It is powered by a combination of cryptocurrency reserves, Boreals, and debts. As the usage of Boreal will increase, Aurora will start issuing loans in cryptocurrency from its first crypto-bank.
Crypto-bank means a decentralized bank that provides financial aid to the customers in BRL and stable coins. Boreals is highly demanded because of its stability in price and utilization in repayment of the loan. Decentralized capital will increase the supply of its Boreal coins in the near future.
The Aurora labs started its token sale on 4th December 2017. It issued 1600 DVIP tokens and plans to utilize the revenue that will be received from the sale of these tokens in the growth of Aurora.
Every DVIP token enables a member to do free trading till the year 2020. DVIP tokens also entitle a holder with 50 thousand AURA, i.e. the token offered by a completely decentralized form of the platform. Every staker will be rewarded with the transaction money for performing the role of securing the network.
Aurora is an independent and completely decentralized finance and banking platform. Aurora is focused on recreating and improving the financial environment in a decentralized manner. This company provides a private, open, and stable financial system to any person in the whole world, irrespective of their geographical location, privacy, and status preferences.
The main constituents of Aurora are a bank of cryptocurrency and a financial asset exchange (IDEX) that works jointly to provide financial assistance to everyone in the world. Aurora is currently working on a distributed network of computers. Additionally, it makes use of EVM for processing the transactions and decentralizing the whole system. If you want to know more about Aurora company and its platform IDEX, then read its whitepaper.
