Gridex Protocol has launched an on-chain order book trading protocol for decentralised exchanges (DEXs) aimed at providing a better user experience and lower costs. The Gridex team has introduced a new type of DEX using its GMOB model and GPLM algorithm, which solve impermanent loss and high slippage issues. The GMOB model is on-chain order booking and limits maker orders to an extremely narrow price range based on percentage limits. The GPLM algorithm mainly handles transaction execution and settlement, measuring linear proportional relationships between changes in token prices and token purchase quantities. Tests have shown that trading with Gridex Protocol costs the same as Uniswap v3. However, completing orders with the “collect maker order” feature can save users up to 60% of gas fees compared with adding or removing liquidity with Uniswap v3. The Gridex Protocol order system provides users with three granular options to balance transaction efficiency and fee income: 0.01%, 0.05%, and 0.3%. Gridex Protocol’s native token GDX will list on D5 Exchange on 15 March. The Gridex Protocol team expects to launch a PoS mainnet in the second quarter of 2024.