Order Books for Ethereum.
Gridex is the first fully on-chain order book trading protocol for the Ethereum ecosystem. It is a permissionless and non-custodial trading protocol consisting of a set of persistent, non-upgradable smart contracts on the Ethereum blockchain. Unlike the current mainstream decentralized exchanges based on the Automated Market Maker (AMM) model, Gridex is based on order books. With our novel Grid Maker Order Book (GMOB) model, we have significantly reduced the resource consumption of running an order book based system, allowing us to deploy and run it on the Ethereum blockchain while making the gas cost comparable to that of AMMs.