INTMAX, the company behind Plasma Next, has announced the creation of a revolutionary DeFi solution in partnership with IdeaSoft, an expert in creating innovative fintech solutions using blockchain technology and part of Sigma Software Group.
Plasma Next is the best method for cryptocurrency transactions. It offers cheaper transactions and more efficient withdrawals in Layer 1.
The Perpetual DEX, called JIBx, will offer near-zero transaction fees, restaking, leverage up to 250x, and will have an on-chain matching engine and on-chain settlement with layers of accounts backed by Plasma Next.
INTMAX Plasma Next is an evolved version of Plasma, an Ethereum scaling solution that was introduced by Joseph Poon and Vitalik Buterin in 2017. Plasma Next has solved a major problem with withdrawals (complex online verification requirements and on-chain verification costs) with zero-knowledge proofs.
Recently, INTMAX Plasma Next partnered with ETH Samba to support the Ethereum development community in Brazil and introduced an innovative JS library called nanoMoney.js that aims to reward users for actions such as reading, liking, or creating content. Through this collaboration, Plasma Next has demonstrated its ability to provide rewards of up to $0.000000001 in DAI, which is only possible with almost zero gas fee commission.
“Plasma Next epitomizes a solution that will redefine blockchain scalability and privacy for the digital age. Plasma Next takes a step forward by providing developers with a platform for creating secure and highly scalable decentralized applications,” says Andriy Lazorenko, co-founder and CEO of IdeaSoft.
JIBx uses Plasma Next for the settlement and account layer, providing privacy, low fees, security, and scalability. One of the features of the perpetual DEX is the on-chain limit order book, which uses a black and red tree sort. It is an efficient mechanism that uses EVM unchain as the data layer. This strategic choice significantly reduces transaction costs while increasing the number of transactions per second (TPS), setting a new standard for DEX technology.
Among the innovative features of this DEX:
- Nearly 0 transaction fees: Plasma Next reduces costs to less than a cent.
- Efficient Funding Rates Model: Rewards from re-staking of collateral become available immediately after opening a position.
- Stablecoin and LST Staking Pools: The stablecoin pool provides liquidity during margin trading. Meanwhile, the LST staking pool offers additional rewards to traders.
- Perpetual Swaps with High Leverage: Offers up to 250x leverage, which is provided by innovative algorithms for efficient management of high-risk transactions.
