What is PolkaEX?

Polkaex.io
4 min readMar 24, 2021

PolkaEX is a cross-chain trade platform based on Polkadot, using Plasm Network to provide higher TPS, lower transaction cost, smooth trade protocol. PolkaEX not only a decentralized exchange, but also an integrated trading platform with many functions, such as Polkaex Launchpad, and more in the future. Providing a one-stop asset trading platform.

With the rapid development of Polkadot’s ecosystem, more and more projects on Ethereum begin to move to Polkadot, such as ChainLink, 1Inch, Ocean Protocol, etc. The parachain slots auction has not yet started, and there are 388 projects ready to build para chains on Polkadot. So for the foreseeable future, the Polkadot ecosystem will get bigger and bigger. The blockchain future will be a multi-chain world, where tokens on multi-chains will need to interact on different chains, which requires interoperability. Decentralized exchanges need to solve the problem of fast confirmation and low fees if they are to become widespread. Therefore, there is a need for Layer 2 solution.

What is Plasm Network and Why Polkadot and PolkaEX need Plasm Network?

Plasm Network is a scalable smart contract platform on Polkadot supporting cutting edge layer 2 solutions. It is built on Substrate and designed to be a Polkadot Parachain. Plasm Network aims to make Ethereum 2.0 on Polkadot.

Plasm Network focuses on making the best smart contract platform so that dApps developers on Polkadot do not need to pay much attention to infrastructure and can focus more on their dApp. Ideally, the developers can build whatever applications on Plasm Network without having to consider its scalability. Plasm Network solves prominent issues: scalability and interoperability.

Scalability

Blockchains do not scale by design because of the decentralized consensus mechanism. TPS (Transaction Per Second) is much smaller than a centralized database, and there is an upper limit of data that can be stored in every block. Therefore, users across the network may notice their transactions sit unconfirmed or pending for long periods of time, creating a poor user experience.

Scalability on the Plasm Network is addressing the followings topics:

  • More Transaction Per Second (TPS)
  • Cheaper transaction cost
  • Faster finality

Interoperability

Many different blockchains exist, but few have interoperability as a feature. To move “value” from Bitcoin to Ethereum, we need a centralized exchange. Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.

Plasm Network is compatible with Polkadot. By connecting Plasm Network to Polkadot, PolkaEX will have true interoperability.

What will PolkaEX decentralized exchange will be?

Cross-chain token pools liquidity:enabling users to trade tokens from different chains pool.

Layer 2: solution plasm network brings PolkaEX low transaction fee and fast confirmation.

Launchpad:

one-stop asset trading platform:PolkaEX will provide more functions to users like farm, lend, etc.

Launchpad

PolkaEX Launchpad built for cross-chain token pools helps blockchain projects to raise funds on a decentralized and interoperable platform based on Polkadot.

How PolkaEX Launchpad Works for Users?

Here’s a step-by-step guide on how to participate in token offerings by projects on PolkaEX Launchpad.

Go to the PolkaEX Launchpad website to see the projects we have lined up.

  • Connect your wallet.
  • Click the project page and study the details. As with any activity of this nature, do your own research.
  • Once you’ve decided to take part in the token sale, click the “Participate” button to buy the token.
  • Waiting for listing

Apply for IDO

Interested projects should submit an application. Each application is submitted for a thorough and rigorous review during the due diligence process and then evaluated based on objective merits. A member of the PolkaEX review team will contact you with further instructions.

Use case of PKEX token

  • Farm-15 million PKEX will be mined by liquidity mining
  • Revenue share — The PolkaEX takes a 0.3% fee on each trade; 0.3% goes to liquidity providers.
  • Governance — PKEX holders can use their tokens to vote on governance proposals regarding changes and upgrades to the protocol.

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Polkaex.io

PolkaEx is a cross-chain trade platform based on Polkadot, using Astar Network to provide higher TPS, lower transaction cost.