Gridex Protocol, the First Ever Fully On-Chain Order Book on Ethereum, Sponsors Europe’s Premier Blockchain Event

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Gridex Protocol, a cutting-edge trading protocol on Ethereum mainnet and layer 2s that features a fully on-chain order book, was a proud sponsor of the European Blockchain Convention in Barcelona, that took place between February 15-17, 2023. As a diamond sponsor, Gridex Protocol made its European debut by participating in the event, which brought together over 3,000 attendees and more than 200 speakers. The event is the most influential blockchain and crypto event in Europe and features Web3 creators, builders, founders, CEOs, and investors, discussing a range of topics including blockchain, crypto, NFTs, DeFi, metaverse, and Web3.

On the second day of the event, Ali Al-Ali, co-founder and technical lead of Gridex, spoke to an audience of crypto industry leaders and enthusiasts about how a fully on-chain order book protocol is the key catalyst for DeFi mass adoption. 

With current mainstream DEXs being primarily based on Automated Market Maker (AMM) models, Gridex instead adapts order books – a model usually utilised in centralized exchanges (CEXs) – to be viable on-chain.

“While the AMM model brings convenience, it is more of a compromise to adapt to an on-chain environment, and there are issues such as impermanent loss on volatile pairs, high slippage and limited trading functionality. On the other hand, order books have a lot more trading functionality but require a lot of computation”, Ali said.

“Gridex however, has achieved a historic breakthrough by reducing the resource consumption to as low as an AMM (and in some cases even lower). This has been made possible through our revolutionary Grid Maker Order Book Model,