We’ve got some exciting news to announce: MyBit has been listed on IDEX, the world’s largest decentralized exchange. MYB/ETH pair is now available for trading.

MyBit’s ultimate goal is to build a fully autonomous, fully decentralized ecosystem where everyone can invest in the revenue generating, IoT devices of the future. With this mission in mind, IDEX feels like a natural partner.

But that’s just one of the reasons we’re excited about IDEX.

The way IDEX works is pretty revolutionary. The platform’s unique design pairs an off-chain trading engine with an Ethereum smart contract. The off-chain part manages the trading experience, while the smart contract handles all of the fund transfers and trade authorizations. And it’s all fully decentralized.

But what does this mean in practice? For the MyBit community, it means we can now get the benefits of a centralized exchange while trading on a decentralized platform. It’s a win-win.

IDEX lets users trade continuously, without having to wait for transactions to mine. Behind the scenes, the platform sends transactions to the blockchain through the smart contract. That way the off-chain balances and the smart contract stay perfectly in sync. For traders, this is the best of both worlds: the speed and user interface of a centralized exchange and the security of the Ethereum blockchain.

To show this, we’ve included a short video to take you through IDEX’s key features and benefits. As always, feel free to reach out to us on Discord or Telegram with any questions or thoughts. If you need any information about MyBit, subscribe to our renewed Reddit.

A simple video, demonstrating the user friendliness of IDEX

Until next time!

The MyBit Team

IMPORTANT:

Trading of the old MyBit token will stop soon.