Polkadex Announces a New Partnership with Enflux to Enhance Trading on Polkadex Orderbook
In the continued effort to boost liquidity on Polkadex Orderbook, Polkadex has partnered with market-making-as-a-service provider Enflux. Known for its transparency, collaborative ethos, and its Web3-friendly approach, Enflux’s liquidity solutions will enhance the user experience for traders on Polkadex Orderbook. Enflux is currently deployed on the iBTC/USDT trading pair and will continue to provide order book depth in order to ensure tight spreads and healthy markets for upcoming listings.
What Enflux Brings to Polkadex
Through this partnership, Enflux will actively contribute to the Polkadex team’s endeavour of fostering a more robust and efficient trading environment on Polkadex Orderbook. In addition to providing order book depth, helping ensure tight spreads, and creating healthy markets, Enflux also features cross-exchange strategies which are designed to stably align Polkadex Orderbook market pair prices with the global market. This unique approach to liquidity, which extends across multiple exchanges, will help Polkadex offer a more consistent and reliable trading experience on Polkadex Orderbook.
“We’re dedicated to backing the Polkadex team beyond our market-making efforts. We aim to serve as a strategic partner, assisting them in making informed decisions that position them for success.” said Mihov V, Co-Founder at Enflux.
Enflux Co-Founder Buth J added “‘Don’t trust, verify’ — right? That’s why we provide these real time insights that not only allow our clients to verify our performance, but also gain valuable insights into their markets”.
Enflux operates trade-only API keys and Polkadex Orderbook is one of the few DEXes with the unique infrastructure that enables delegating asset trading via these trade-only API keys. In layman’s terms, this means Enflux’s active market-making role remains non-custodial at all times, with initial bootstrapping liquidity owned by Polkadex and only traded (and not controlled) by the market-maker.
“This is an ideal model for liquidity on an order book DEX,” said Gautham J, CEO and Co-Founder at Polkadex. “Once again, on Polkadex Orderbook it’s ‘not your keys, not your crypto’ every step of the way, even when it comes to market-making.”
Bringing Transparency to Crypto Market-Making
Enflux is deeply committed to improving the level of transparency in crypto market-making. As part of their dedication, Enflux provides the Polkadex team with real-time dashboards detailing their liquidity performance (e.g. spread %, 2% bid/ask depth) over time. This provides the Polkadex team with a comprehensive understanding of the activity of a given market pair and allows them to verify Enflux’s performance at any given time.
The monitoring of liquidity metrics aids in maintaining healthy markets for any exchange or token pair. Enflux is dedicated to not only providing these valuable insights for all listings on Polkadex Orderbook, but also all PDEX markets, such as the one on Kucoin. This initiative allows the Polkadex team to effectively oversee and maintain the quality of liquidity for both the PDEX token and Polkadex Orderbook.
In an attempt to further enhance transparency, some of Enflux’s liquidity dashboards will be made public, thus allowing the Polkadex community to gain deeper insights on the liquidity within Polkadex Orderbook.
What Enflux Brings to Traders
Traders on Polkadex Orderbook have already felt the impact of Enflux’s solutions when trading on the recently launched iBTC/USDT market pair. Testaments to that impact are the pair’s average daily trading volume of over $12,000 (in the current Polkadex Orderbook beta) and a market price that has continually reflected the global price of Bitcoin/USDT. Upcoming Polkadex Orderbook listings will also benefit from the capital efficiency created by the application of Enflux’s solutions to the exchange’s groundbreaking trading infrastructure.
“As a market maker, our primary focus isn’t on generating substantial profits; instead, it’s centred on fostering a healthy trading environment for the Polkadex users. The ultimate objective behind employing a market maker is to establish robust and thriving markets which allow for adoption of the exchange.” Mihov V. and Buth J., Co-founders at Enflux.
The Best is Yet to Come
Both Polkadex and Enflux are committed to building a better decentralized future for traders via mutual growth and active collaboration. As liquidity on Polkadex Orderbook grows, and as Enflux deploys solutions to more of its markets, traders will begin to notice legacy centralized exchanges become more redundant. Join Polkadex and Enflux on the journey to transform the future of finance!
Enflux helps tokenized web3 projects grow by providing transparent and collaborative market making solutions. They allow projects to verify their market making performance based on real liquidity metrics (e.g. spread %, 2% bid/ask depth etc.), at any time over any given period using easy to understand dashboards. Enflux recognizes the necessity for enhanced collaboration between market makers and Web3 projects. They are dedicated not only to delivering solid market-making solutions and creating healthy markets but also to helping the projects grow by consulting them on other important topics that are not related to market making. This holistic approach aims to support projects in various aspects beyond market liquidity, fostering their overall growth and success.
Polkadex is a fully non-custodial, peer-to-peer, orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate and designed to become the ultimate trading engine for Web3. Polkadex has developed Polkadex Orderbook, an easy-to-use platform that combines the benefits of centralized and decentralized exchanges into one cutting-edge, non-custodial solution that caters to all crypto traders. You can now trade ASTR, iBTC, DOT, USDT, and PDEX, on Polkadex Orderbook.