IDEX Plants a Flag for a Multichain Future, Beginning With Binance Chain and Polkadot

The non-custodial cryptocurrency exchange, whose operations run on the Ethereum blockchain, announced Tuesday it plans to expand to the Binance Smart Chain and Polkadot networks. Hence, every holder of IDEX’s Ethereum tokens will get an equivalent number of IDEX tokens for each of the new chains.

While it remains to be seen whether volume on the new smart contract chains can ever compete with that on Ethereum, IDEX is taking these measures “so we can put a stake in the ground and plant our flag early,” Wearn said. Wearn said he expects IDEX trading to go live on the new chains early in 2021, optimally both in the first quarter.

Timeline of Ethereum, Idex, Polkadot-new