Stargate Deployment on IDEX/XCHAIN

TL;DR -Deploy Stargate on IDEX & XCHAIN as the exclusive bridge provider -Integrate Stargate directly into the IDEX application as the default option for depositing/withdrawing funds -$500k in IDEX token incentives over 2 years to jumpstart liquidity

--Background-- Established in 2016, IDEX has set the standard as a premier high-performance decentralized exchange. The platform combines the speed and efficiency of traditional trading systems with the transparency and security of blockchain settlement to create an unparalleled trading experience. The design provides users with instant execution, millisecond latency, and gas-free settlement, all while allowing them to maintain full control and custody of funds.

In the next few months, IDEX will launch their perpetual futures platform on top of XCHAIN, an IDEX specific zkEVM L2 and the first of Polygon’s zkEVM supernets. XCHAIN brings the scalability and affordability necessary for an order book perpetual futures DEX to truly compete with centralized exchanges.

Key benefits of XCHAIN: -Gas-free trade settlement -Deposits and settlement secured by Ethereum -Opportunity for additional dApps to serve IDEX users & capital -Seamless integration and liquidity with Polygon 2.0 ecosystem

IDEX perpetuals are collateralized by USDC bridged and minted on XCHAIN via the L1 native bridge.

--Proposal-- IDEX proposes for Stargate to launch on XCHAIN, working with LayerZero to set up an endpoint on XCHAIN mainnet. IDEX is requesting to deploy a USDC pool on XCHAIN, with pathways to and from Ethereum, Arbitrum, Optimism and Polygon. -IDEX will provide a two-year grant of a guaranteed $500k (~10M IDEX tokens) to incentivize liquidity -Stargate will be the exclusive bridge partner for XCHAIN, capturing all L2 <> XCHAIN and fast L1 <> XCHAIN bridge volume -Stargate will be integrated directly into the IDEX application, with the bridge acting as the default, white labeled method for users to move in and out of XCHAIN.

Utilizing Stargate’s bridge and call mechanism will allow users to deposit bridged funds directly into the smart contracts, a seamless UX that ensures the majority of volume in and out of XCHAIN flows through Stargate, and, in the process, highlights LayerZero’s innovation in cross-chain messaging.

Additionally, Stargate and LayerZero will unlock cross-chain composability and serve as the foundation for expanding the availability of defi services to IDEX customers. Swap DEXs, lending platforms, and other defi primitives on connected networks will be integrated into IDEX, allowing users to access these products directly from XCHAIN and boosting Stargate usage and volume in the process. We see Stargate and LayerZero as critical components to expand the products available to IDEX users while we continue to focus the majority of our development efforts on the perpetual futures protocol.

--Integration-- -Add LayerZero endpoints to XCHAIN mainnet -Deploy Stargate on XCHAIN and enable USDC pathways to and from Ethereum, Arbitrum, Optimism, and Polygon -IDEX integrates Stargate seamlessly into the deposit/withdrawal workflow as the exclusive, white labeled bridge provider (DONE - pending testnet deployment) -IDEX provides $500k of IDEX token incentives to jump start liquidity

--Summary-- IDEX and XCHAIN are the forefront of the next wave of app-specific networks and represent an inflection point in the importance of cross-chain messaging and bridge protocols. An exclusive integration between XCHAIN and Stargate will allow Stargate to capture all of the bridge volume for the network and continue to position itself as the leading cross-chain liquidity solution.