IDEX is a decentralized cryptocurrency exchange that operates on the Ethereum blockchain. It was launched in 2017 and has since become one of the most popular decentralized exchanges in the cryptocurrency market. IDEX allows users to trade a wide range of ERC-20 tokens, which are tokens that are built on the Ethereum blockchain. The exchange is known for its fast transaction speeds and low fees, which make it an attractive option for traders who are looking for a decentralized alternative to centralized exchanges.

One of the key features of IDEX is its hybrid model, which combines the benefits of both centralized and decentralized exchanges. The exchange uses a smart contract system to execute trades, which means that users have full control over their funds at all times. However, IDEX also has a centralized order book, which allows for faster trade execution and better liquidity. This hybrid model has made IDEX a popular choice for traders who are looking for a decentralized exchange that offers the same level of speed and liquidity as centralized exchanges. Overall, IDEX is a promising project that has the potential to revolutionize the way that cryptocurrency trading is done.