IdeaSoft, a member of Sigma Software Group that specializes in developing fintech blockchain applications, is building a perpetual decentralized exchange on Plasma Next, according to INTMAX, the developer of the open-source Ethereum scalability solution Plasma Next, which offers nearly zero gas fees to enable nano-transactions. This strategic relationship represents a major advancement for the Plasma Next ecosystem by using IdeaSoft’s extensive experience in WEB3 development across several industries.
JIBx, the perpetual DEX, will have no transaction fees, restaking, leverage up to 250X, and an on-chain matching engine with Plasma Next-powered off-chain private settlement and account layers. With programmability, users will get the maximum speed and lowest transaction costs, all while maintaining Ethereum’s stability and security.
The full version of Plasma, INTMAX, the Ethereum scaling solution that Vitalik Buterin and Joseph Poon introduced in 2017, is called Plasma Next. Using zero-knowledge proofs, Plasma Next resolved the primary issues surrounding the fund withdrawal, which included challenging online requirements and expensive on-chain verification. For blockchain systems, Plasma Next provides a workable solution to the long-standing problem of attaining statelessness by guaranteeing steady state growth per block without the need for individual liquidity preparations and eliminating the need for continuous online diligence.
In order to support Brazil’s thriving Ethereum development community, INTMAX Plasma Next has partnered with ETH Samba to launch nanoMoney.js, a ground-breaking JS framework that intends to reward website users for engaging acts like reading, like, or generating content. Plasma Next demonstrated via this partnership that it can provide incentives as tiny as $0.000000001 in DAI, which is only achievable when the gas charge is almost nil. Ethereum is now very easy for large-scale micro- and Nano transactions thanks to Plasma Next.
Andrey Lazorenko, the Co-founder and CEO of IdeaSoft, said:
“Super excited to start using INTMAX Plasma Next with our team! It’s exactly what we need to make many of the projects faster, more convenient for users, and finally get overwhelming adoption. Can’t wait to see what we’ll build with this.”
INTMAX Co-founder Leona Hioki commented:
“The IdeaSoft team is highly talented and professional, with unmatched experience in financial trading in general and virtual currency in particular. I am confident that together we will be able to create a product of exceptional quality. It is a great honor to work with them.”
For account and settlement layers, JIBx uses Plasma Next, guaranteeing unrivaled privacy, minimal trading costs, security, and scalability. It stands out for having an perpetual on-chain limit order book with black-red tree sorting. This technique uses the zkSync Era instead of Tendermint to obtain efficiency that is comparable to but different from dYdX. This tactical decision sets a new benchmark for DEX technology by dramatically reducing transaction costs and boosting transactions per second (TPS).
With the integrity and security of decentralized platforms combined with the ease of centralized exchanges, this DEX is set to be the first of its type. Its new features include:
Nearly Zero transaction costs:
Plasma Next makes it possible to lower fees to less than a cent amount.
Effective Model for Funding Rates:
You may start earning rewards from collateral re-staking as soon as you create a position.
Bootstrapped Re-staking:
By using LST-based assets and stablecoins, we generate an interesting multiplier effect. This makes it possible for us to split fees with active traders and to distribute points for re-staking.
LST Staking Pools and Stablecoins:
Liquidity locking is ensured during margin trading using a stablecoin pool. In the meanwhile, lower trading fees and incentives are available via the LST staking pool.
Perpetual Swaps with High Leverage:
Provides up to 250X leverage, supported by cutting-edge algorithms and an insurance fund, to effectively handle activities with a high degree of risk.
INTMAX advances the development of the Plasma Next ecosystem and benefits the larger blockchain community by boosting IdeaSoft in the development of the JIBx platform. This project is a critical step toward a more open and effective decentralized finance landscape by highlighting a dedication to innovation, open-source development, and the democratization of finance.
With its revolutionary design, Plasma Next promises to revolutionize blockchain privacy and scalability in the digital era. Plasma Next represents a major advancement by removing the need for a continuous online presence—a major impediment to user adoption—and providing developers with a framework to create safe and very scalable dApps.
