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What is Polkadex? Everything you need to know about PDEX Token

What is Polkadex? What is PDEX? Find out the outstanding features of Polkadex and details about PDEX Token.
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5 min read
Published Jun 02 2021
Updated Apr 24 2024
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Polkadot is expected to be the next generation of blockchain. While Ethereum is facing the thorny issue of low scalability, Polkadot offers the exact opposite feature when defining it as a blockchain with extremely high scalability.

Polkadot has not released the mainnet yet but the auction to get a slot in its ecosystem has attracted lots of attention. Any projects that wish to scale unlimitedly see Polkadot as an ideal platform to do so.

Polkadex is among these projects, targeting to be a significant exchange on Polkadot with high scalability.

What is Polkadex?

Polkadex is a trading platform that combines the benefits of centralized and decentralized exchanges: the convenience of CEXs (fiat support, different orders: limit, stop loss,...) and the security of DEXs (non-custodial trading).

Therefore, Polkadex expects to attract a huge number of users, who wish for an optimal option between centralized and decentralized platforms. Other than that, Polkadex also acts as an IDO platform for any project to introduce its token easily.

Polkadex is built on Substrate and aims to be a major player in the Polkadot ecosystem after having a slot in the parachain.

what is polkadex
Polkadex Website:

How does Polkadex work?

To run a fully decentralized orderbook platform, Polkadot must have an innovative architecture, which contains 4 components:

Polkadex Network: Polkadex’s native blockchain containing the Polkapool (Polkadex’s liquidity pool-powered swap platform) and the Polkadex Orderbook.
Trusted Execution Environment (TEE): Calculates the balance state of users in the orderbook. However, it allows placing and executing trades without transferring any balances. Its calculation must be verified by the blockchain and balance transfer can be initiated only by the trader's private key.
Orderbook Engine: Matches trades with TEE.
Interplanetary File System (IPFS): Works as the exchange’s insurance policy, returns funds to users instantly in cases the balance transfer is rejected.
how does polkadex work
How does Polkadex work?

What is PDEX token?

PDEX is the native token Polkadex. However, as the project released a proportion of PDEX before mainnet, the token currently has ERC-20 standard. After the mainnet, PDEX holders must migrate their tokens from Ethereum to Polkadex.

Detailed information about PDEX token

PDEX Key Metrics

Token Name: Polkadex.
Ticker: PDEX.
Blockchain: Ethereum, Polkadex.
Token Standard: ERC-20 (Ethereum).
Contract: 0xF59ae934f6fe444afC309586cC60a84a0F89Aaea (Ethereum)
Token type: Utility, Governance.
Circulating Supply: 2,834,161 PDEX.
Total Supply: 3,172,895 PDEX.
Max Supply: 20,000,000 PDEX.

PDEX Token Allocation

Founders and Team: 9%
Seed round: 7%
Strategic round: 8%
Private round: 10.193%
Treasury: 41%
Parachain auction: 10%
Advisors: 6%
Marketing, Ecosystem and Partnerships: 6.807%
Community round: 2%
pdex token allocation
PDEX Token Allocation

PDEX Token Sales

Polkadex investing rounds had ended in February 2021. In April 2021, the project conducted a Community Round through IDO on Polkastarter and the IEO on KuCoin.

PDEX Release Schedule

pdex release schedule
PDEX release schedule

PDEX Token Use Cases

PDEX has multiple functions as follows:

Pay transaction and trading fees.
Participate in Polkadex IDOs.
Participate in on-chain governance of the network.
Nominate or become a validator of the network.

How to get PDEX token

At the moment, you can get PDEX tokens from the following exchanges:

DEXs: Uniswap.
CEXs: Gate, KuCoin.

How to buy PDEX token

You can buy PDEX on Coin98 Exchange by clicking the swap button at the bottom of this article following these steps:

Step 1: Connect to the Coin98 Extension Wallet.

Step 2: Select Uniswap.

Step 3: Choose coins/tokens for trading:

Search PDEX.
If the result does not come up, you can paste the contract of PDEX into the search box: 0xF59ae934f6fe444afC309586cC60a84a0F89Aaea

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

how to buy pdex
How to buy PDEX on Coin98 Exchange

However, I do not recommend you to buy PDEX (ERC-20) tokens at the moment as they must be eventually converted into Polkadex native tokens. Your PDEX (ERC-20) tokens will not disappear but they will have no utilities at all.

How to store PDEX token

If you are holding PDEX (ERC-20) token, you can store PDEX on Coin98 Wallet by following these steps:

Step 1: At the main screen of Coin98 Wallet, click Receive.

Step 2: Search for PDEX token.

Step 4: Copy your PDEX wallet address and send PDEX tokens to this address.

how to store pdex token
How to store PDEX on Coin98 Wallet

PDEX Roadmap

Polkadex has announced its PDEX blockchain mainnet on 30 September 2021. After this network mainnet, each feature on Polkadot will be implemented over time:

September 2021: Mainnet.
September/October 2021: ERC-20 PDEX to native PDEX migration.
Q4 2021: Deployment of Cross-chain Bridges.PolkaIDO.
Q4 2021/Q1 2022: Polkapool.
Q1 2022: Polkadex Orderbook.
polkadex roadmap
Polkadex Roadmap

Team, Investors, and Partners


polkadex team
Polkadex Team

Polkadex is built by a team of 20 skilled specialists from all over the world, led by 3 co-founders:

Vivek Prasannan (Executive Director), details here.
Gautham J (CEO).
Deepansh Singh, details here.


polkadex investors
Polkadex Investors


polkadex partners
Polkadex Partners

Is Polkadex (PDEX) a good investment?

I hope that from all the mentioned information, you can get a basic understanding of Polkadex to start researching more about this project. It is hard to tell firmly whether any project/ token is a good investment or not. However, I will provide you with some key highlights of Polkadex so that you can do your own research and make your own investment decisions.

Since its introduction to the public, Polkadex has constantly updated its progress to prepare for the full launch of its products. The team chooses gradual but stable growth. They focus on the quality of each product and make sure it is nearly perfect when released to the community.
Polkadex is the optimal combination of CEXs and DEXs. If Polkadex can leverage its strength then it will attract users from both centralized and decentralized exchanges.
However, all things above are just what the project communicates with the community. We need to see how this project will actually perform after its mainnet to have a more accurate evaluation. Moreover, the progress of the project also depends on the time it is integrated into Polkadot and the potential growth of the whole ecosystem.

Similar Projects?

Some similar projects:

Raydium (RAY): A DEX on Solana that leverages both AMM and order book exchange.
Polkaswap (PSWAP): Another Polkadot-based DEX.


Polkadex is a potential project on Polkadot. However, to be officially launched on this blockchain, Polkadex still needs to go through many steps: migrate its PDEX (ERC-20) token, attract early users for the platform, raise crowdfund for the parachain auction... We can wait for its full launch and see how it will perform.