What is PDEX
PDEX is the ERC-20 utility token for Polkadex, a fully decentralized peer-to-peer orderbook-based cryptocurrency exchange built on Polkadot Substrate framework. The goal of Polkadex is to provide a comprehensive trading engine for Web3 and the decentralized finance (DeFi) ecosystem. Polkadex Orderbook functions as a non-custodial Layer 2 based exchange on the Polkadex Network. Users can register and connect multiple hot wallets across Polkadex browser extensions, mobile phones and other devices using on-chain trading bots to automate trading across funding sources, or choose to delegate assets to third parties to generate profit using algorithmic trading while maintaining custody of crypto assets. Polkadex Initial DEX Offering (IDO) Platform allows token authors to create ERC-20 like tokens (Polkadex Fungible Assets), raise funds and get listed on the Polkadex exchange in one click, with future support for non-fungible tokens (NFTs). PDEX token is used to gain a discount while paying transaction or trading fees, and may be used to participate in Polkadex IDOs, as well as to participate in on-chain governance. Validators may stake PDEX to help validate the Polkadex network.