As much as crypto has advanced since the early days of decentralized finance (DeFi), current ecosystems still have room for improvement. EVEDEX is attempting to move DeFi forward by combining the most popular aspects of centralized and decentralized exchanges. Learn how in this EVEDEX review.
KEY TAKEAWAYS
➤ EVEDEX merges the benefits of centralized exchanges (CEXs) and decentralized exchanges (DEXs).
➤ Built on Arbitrum Orbit, EVEDEX functions as a layer-3 rollup.
➤ The platform is non-custodial, meaning it does not hold user funds, eliminating counterparty risks.
➤ EVEDEX incorporates gamification, educational tools, copy trading, and mobile-first design, making advanced trading accessible to both beginners and professionals.
What is EVEDEX?
EVEDEX is a one-of-a-kind decentralized platform designed for trading crypto assets. This hybrid exchange evens the playing field for access to advanced financial instruments, whether you are a small or large trader.
The platform’s mission is to provide equal opportunities for all market participants, regardless of the size of your bags or location. In this way, EVEDEX democratizes crypto trading.
By combining the advantages of decentralized finance (DeFi) with the user experience and efficiency of centralized exchanges, EVEDEX aims to create an ecosystem that promises high security, privacy, and transparency.
Team
The EVEDEX team is loaded with professionals who have experience in many sectors, such as trading, analytics, tech, and much more:
- Thomas Kralow (Chairman): Has over 10 years of trading experience, and is a marketing expert and crypto influencer.
- Vlad Komissarov (CTO): Has more than 20 years of experience in IT, was the CTO of a regulated crypto exchange platform licensed in Malta and sold in 2022, and was the CTO and co-founder at edTech project Antitreningi, which was sold in 2023.
- Leyla Greenhill (CEO): Formerly worked at META in Europe, with five years of experience in operations, team building, and marketing.
- Deniss Grigorjevs (Сo-Founder and ED): A crypto expert with seven years of experience in NFTs, IDOs, P2E, Retrodrops, etc., Grigorjevs is also the Chief-analyst of Kralow Ventures and co-founder of Wolf of RetroDrop, one of the largest retrodrop farms.
- Alexander Artiushenko (CMO): Has over five years of marketing experience in web2 (Microsoft, Adobe) and web3 (APTOS, Sui).
Challenges with the current market
Let’s be honest: there are a lot of centralized and decentralized exchanges (DEX) from which to choose. So, why do we need another exchange? Whether it is a CEX or DEX, each platform comes with its own tradeoffs.
| CEX | DEX |
| ✅Better user-experience | ✅Self-custodial |
| ✅Fast order execution | ✅Transparent processes |
| ✅Low fees | ✅Global availability |
| ❌No platform governance | ❌Failed transactions |
| ❌Prone to bankruptcies | ❌High gas and transaction fees |
| ❌Jurisdictional limitations | ❌Slow order execution |
With its hybrid exchange, EVEDEX addresses these issues by creating a comprehensive platform that combines the advantages of decentralized finance with the convenience of centralized solutions.
In this way, EVEDEX targets a wide range of users. From beginners to professionals, each trader faces their own challenges in today’s cryptocurrency market:
- Safety and financial sovereignty
- Equal opportunities and accessibility
- Education and user experience
- Trading performance and transparency
- Governance participation and trading tool diversity
EVEDEX attempts to provide novices and professionals with the tools and knowledge necessary for successful trading in the crypto market.
EVEDEX features
EVEDEX is feature-rich, addressing many of the aforementioned issues. These improved features attempt to address everything from the user interface to security, gamification, and much more.
User interface
As you can see, EVEDEX has a standard trading interface that is on par with the experience of a CEX. Traders can set market, limit, and stop-limit orders, which is a scarce feature amongst most DEXs.
You can see the order book, positions, open orders, trade history, and many other order-related features. The chart is customizable, meaning you can create trend lines, indicators, or other marks on the display as needed. The assets or instruments, prices, time changes, funding rate, and open interest can all be viewed as well.
Security
The platform has enhanced login functionality and security features to protect users. You will also feel more secure knowing that the platform doesn’t use hot or cold wallets.
EVEDEX is non-custodial, so it cannot access users’ funds. This reduces the risk of theft, even in case of hacking or malfunctions.
Mobile-friendly
Additionally, the platform takes a mobile-first approach. The protocol is easily accessible through EVEDEX’s user-friendly web and mobile interface, which the core team maintains to guarantee peak performance and user satisfaction.
EVEDEX uses account abstraction (ERC 4337) to simplify on-chain transactions and onboard CEX users to decentralized trading, which also limits security risks.
Gamification
The platform uses gamification and a loyalty system to retain users. Influencers, trading academies, and educators may find EVEDEX appealing because of its sophisticated affiliate platform and copy-trading features, which encourage them to refer their followers.
Moreover, one of EVEDEX’s core goals is also to educate users. Therefore, the platform also has learning resources.
Hybrid model
As stated previously, one of EVEDEX’s highlights is its hybrid model. The exchange utilizes an off-chain order book, which is efficient for order matching and time-sensitive transactions. The platform, however, settles transactions on-chain and allows you to participate in community governance.
In terms of architecture, EVEDEX utilizes the Superchain to provide scalability and interoperability. EVEDEX itself is a layer-3 rollup. This setup utilizes the modular landscape to minimize fees.
The EVEDEX Testnet launched on Nov. 8, 2024. So, if you want to test out these advanced features, you don’t have to risk any real capital.
How does EVEDEX work?
Much of EVEDEX’s improvements can be attributed to its end-in-mind design. This stems from its bridging and sequencing capabilities and account abstraction.
EVEDEX ecosystem
EVEDEX is an entire ecosystem created from the ground up, not just a perpetual DEX. It is capable of processing thousands of transactions nearly every second at a fraction of the price you would spend on Ethereum.
This means that you can trade faster and at lower costs, whether you’re transferring large or small amounts of crypto. The EVEDEX ecosystem is made up of various elements and is based on the layer-3 (L3) Arbitrum Orbit solution:
- The EVEDEX Protocol is the foundation of the ecosystem and comprises the L3 solution, smart contracts, and additional systems that enable trading.
- The block times are two seconds per block. While many modern blockchains offer sub-second block times, EVEDEX compensates for this difference by its ability to increase the block size.
- EVEDEX is capable of processing 463,000 gas/s, meeting its target of 100,000 daily settlements.
Bridge and sequencer
The future bridge will function without the assistance of third parties, greatly improving security. When it launches, it will also offer automated bridges to other networks in the Arbitrum ecosystem.
Permissionless Output Proposals (PoPs) will be used to achieve decentralized withdrawals, enabling anybody to start a fund withdrawal from L3 to L1. In the event of a sequencer failure, users can send transactions straight to the L1 (Ethereum), avoiding the sequencer altogether.
Account abstraction
EVEDEX’s account abstraction improves user engagement with the blockchain, increasing its adaptability and security. It allows the platform to regulate fund deposit and withdrawal policies, enhancing security and opening the door for future features like paymasters and multi-signatures.
Future plans and development
EVEDEX will continually expand its ecosystem and introduce new financial products and services in the future. While there is no publicly available schedule to know when most of the expected features will be available, you can still expect the following:
Decentralization and automation
You can expect further decentralization on the platform for trading perpetual options and other derivatives. This milestone will eliminate the need for trusted intermediaries and develop a smart contract system for automating trading processes.
Financial inclusion
EVEDEX will continue to democratize access to professional trading tools and strategies. This goal will provide matching opportunities for all users, regardless of their portfolio size or geographical region. The team will also develop tools that enable users with small amounts of capital to utilize complex trading strategies.
Enhanced privacy and security
Safety is always a top priority, so the exchange will implement advanced cryptographic solutions to protect users’ data and develop a multi-level security system to protect user assets from unauthorized access.
You will be able to control your level of anonymity when using the platform. This feature will maintain a commitment to legal and ethical fund verification operations as well.
Improved user experience
The EVEDEX team will continually improve the interface to simplify the trading experience for beginners and accelerate interactions for experienced traders.
Developing an adaptive mobile-first design will ensure comfortable operation on various devices and platforms in a multi-platform application format. We expect the launch of customizable analysis tools for personalized trading experiences.
Expanding education
EVEDEX will create a comprehensive educational center with courses on trading, risk management, market analysis, and blockchain technologies.
This center will have interactive learning tools, including trading simulators and test environments with gamification mechanics to increase user engagement. Moreover, the platform will organize webinars and masterclasses that feature industry experts.
Community-owned governance
As a show of good faith, the protocol will gradually transfer all platform governance mechanisms to the community through a decentralized autonomous organization (DAO).
This will follow the development of a safe voting and proposal system for making decisions about platform changes. Like most on-chain governance systems, you can expect mechanisms to incentivize active user participation in governance.
Copy trading
EVEDEX will have a copy trading system with strict approval and monitoring processes for traders. It will develop algorithms to ensure the fair execution of copied trades and minimize slippage. To help users make informed decisions, it will also implement a rating and review system for traders.
Ecosystem development
Lastly, the transition from centralized trading is set to be seamless with the development of additional financial products. These will include P2P trading, debit cards, credit solutions, and a launchpad for new projects.
This will be followed by the creation of an open API for developers, which will promote the creation of third-party applications and tools.
These additions will effectively create a universal entry point into cryptocurrency trading, thereby expanding digital asset management capabilities.
EVEDEX is DeFi for everyone
EVEDEX is an application-specific rollup and perpetuals exchange. With its hybrid design, you can take advantage of its many features, whether you are an advanced or novice trader. With its ethos for continual improvement, privacy, security, and education, users can look forward to many new features in the future.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Always do your own research (DYOR).
Frequently asked questions
What is EVEDEX, and how does it differentiate itself from other exchanges?
How does the platform ensure self-custody and prevent hacks without using “hot” or “cold” wallets?
How does EVEDEX create a fair trading platform?
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