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IDEX Launches New Strategic Program to Invest in Wixpool’s Liquid Mining

Guest Author by Guest Author
May 22, 2023
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IDEX CEO Alex Wearn has announced the launch of a new strategic program under which the exchange will invest in the liquidity mining industry. According to Alex Wearn, these investments are necessary to combat competitors, expand IDEX’s activities, and provide the exchange’s customers with fresh liquidity.

“Liquidity mining is not just an investment in the success of our exchange, but also a guarantee that our customers will always have access to liquidity. Currently, our exchange operates successfully thanks to $100 million invested in liquidity mining last year. We look forward to the opportunity to expand this activity and provide even more customers with liquidity,” said Alex Wearn.

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As company representatives have reported, in the first round, IDEX invested $12 million in its long-time partner, the Wixpool liquidity mining platform, which accounts for 30% of liquidity on the exchange. IDEX plans to use Wixpool’s infrastructure to increase its liquidity and improve trading conditions in the market. This will allow customers to receive a wider range of services and trading opportunities on the platform.

In addition, by using Wixpool’s infrastructure, IDEX will be able to increase its market turnover and stay ahead of  competitors in this area. Ultimately, this will lead to an improvement in the company’s position in the market and increased customer satisfaction.

Are IDEX’s investments related to the recent Certik report?

A week before IDEX announced its investments in liquidity mining, Certik, a company that analyzes cryptocurrency data, released a report on a new, promising type of liquidity mining being developed by Wixpool that provides protection against volatility.

According to Certik, Wixpool’s new liquidity mining method provides stable income through automatic rebalancing of liquidity pools. If the profitability of one liquidity pool decreases, the algorithm automatically transfers funds to another, more profitable pool. This allows users to make money at all times, not just in good market conditions.

However, it’s important for IDEX that this approach attracts many liquidity miners who provide new liquidity to the ecosystem. This makes the infrastructure more stable for all market participants.

Since IDEX has long been working with Wixpool, the news about the advantages of stable mining technology was not new to the exchange. Presumably, IDEX ordered a Certik audit to check Wixpool before investing in it.

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Themarketperiodical.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

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