PDEX Token Journey: From ERC-20 to Substrate

Why we launched PDEX as an ERC-20 token and what will happen to ERC-20 PDEX tokens once we launch Polkadex Mainnet

Why launch PDEX token before the Mainnet?

In the midst of building Polkadex, we realised that there were undeniable benefits to launching a token prior to the Mainnet release.

Polkadot DeFi Alliance talk

Last week our Executive Director, Vivek Prasannan, was invited to the talk hosted by our partner organization, Polkadot DeFi Alliance, to discuss different options of bootstrapping projects in the Polkadot ecosystem and share Polkadex’s personal story.

PDEX migration to native Polkadex network

Despite PDEX being initially launched on the Ethereum network, our plan has always been to have PDEX on its native Polkadex network since PDEX is an integral part of the Polkadex ecosystem. Therefore, the first action in the series of Mainnet events will be to migrate all the PDEX tokens from their ERC-20 state to Polkadex, turning them into native, Substrate-based tokens through a one-way bridge. We’re working on making this process as seamless as possible for PDEX holders and have already completed the code for it. The token migration code, along with most of the Polkadex Orderbook code, will be audited by trusted third parties later this month.
As always we will announce all the news and changes in advance, giving all the holders more than enough time to transfer and providing detailed explanations for the process.

Migration details & support

An additional benefit of the planned PDEX migration is that it will serve as a testament to how easily other currencies can move between chains in the Polkadex ecosystem. We also designed the one-way migration with user experience in mind, as the process will be as simple as possible. We kept the bridge for PDEX one-way only as we want to keep PDEX inside the native network.

Final thoughts

Overall, while there is no set playbook to launching a product on Polkadot, Polkadex is taking the necessary steps to foster a healthy and supportive community come Mainnet, which will translate into an even more secure and distributed network.

⛓Cutting edge orderbook based DEX built on Substrate 📲 www.polkadex.trade