The Popular Exchange Plans to Deploy to Moonbeam’s Parachain on Polkadot.
Singapore – December 10, 2020 – Moonbeam, the Ethereum-compatible smart contract parachain on Polkadot, announced plans to integrate IDEX’s cryptocurrency exchange. This effort is part of IDEX’s Multiverse initiative to expand its world-class trading experience to new blockchains, including Polkadot. By deploying to Moonbeam, IDEX is able to include assets from Polkadot and its parachains in their exchange without making major changes to their existing code.
IDEX specifically chose Moonbeam for its extensive Ethereum compatibility. Going beyond the standard EVM implementation, Moonbeam has built several core Ethereum concepts into the platform itself, like account structures and signatures. This approach makes it easy to deploy existing Solidity smart contracts as-is, providing a fast link to the Polkadot network. IDEX’s entire infrastructure is Ethereum-based, which means Moonbeam’s capabilities greatly simplify their expansion process.
“We’re incredibly excited to work alongside the Moonbeam team on our multi-chain expansion,” says IDEX co-founder and CEO Alex Wearn. “Polkadot’s reputation and the projects being developed in its ecosystem have drawn plenty of interest, including much from our own community. We look forward to enabling that interest to turn into action as traders access Polkadot and parachain based assets on Moonbeam with the high-performance and security only delivered by IDEX.”
Moonbeam’s interoperability with other parachains will help bridge IDEX to the many projects (and their tokens) coming to Polkadot. Similarly, Moonbeam will provide exposure to many rising projects that previously could not tap into Ethereum-based communities.
“We’re proud to welcome IDEX to the Moonbeam DeFi ecosystem,” says Derek Yoo, CEO of PureStake and head of the Moonbeam project. “We see this partnership as an endorsement of our shared beliefs in a multi-chain future, and the role that Polkadot’s interoperability-focused network serves to enable multi-chain scenarios.
You can read more about today’s announcement and IDEX’s Multiverse strategy on their website.
About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently, in active development by PureStake, Moonbeam is expected to reach MainNet by early 2021. Learn more: https://moonbeam.network/
About PureStake
PureStake’s team has extensive experience building technology companies and complex software platforms. Led by Derek Yoo, former Fuze Founder, and CTO, PureStake provides protocol implementation services and creates developer tools for next-generation blockchain networks. Learn more: https://www.purestake.com/.
