DEXes · Review
Gridex Review 2026: Grid-Based On-Chain Order Book DEX
Gridex is an on-chain order book DEX using a grid-based design, listed on DefiLlama since April 2023. Its TVL is now small, so liquidity and current activity are the main questions.
By the DappsAtlas editorial team · Updated
DappsAtlas score
—/10
Not rated
Our verdict on Gridex
Gridex is a technically distinct DEX that swaps the usual AMM pool for an on-chain order book with a grid pricing design. It may interest traders and liquidity providers who want to explore maker-fee models on Arbitrum, Base or Optimism. The main caveat is scale: about $70,000 in TVL implies thin liquidity, and the homepage could not be checked. Confirm the app is live, read the docs and use small amounts first.
Score breakdown
How Gridex scores
- Security
- n/a
- Ease of use
- n/a
- Fees
- n/a
- Features
- 6.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Gridex?
Gridex describes itself as the first fully on-chain order book protocol for the Ethereum ecosystem. It is listed on DefiLlama as a DEX, tracked since April 2023, and runs on Arbitrum, Linea, Polygon, Base and Optimism.
The protocol uses a Grid Marker Order Book (GMOB) and a Grid Price Linear Movement (GPLM) algorithm. The stated goals are low fee trading, no slippage and negative maker fees, meaning liquidity providers can be paid for placing orders.
Current scale is small. DefiLlama shows about $70,218 in TVL, up 1.8% over seven days, and two audits are listed. The homepage could not be fetched during research, so this review relies on DefiLlama data and the project's own description.
How Gridex works
Most decentralized exchanges use an automated market maker, where a pool of tokens sets prices by formula. Gridex instead describes an on-chain order book, where traders place orders at specific prices and those orders are matched on the blockchain.
According to the project, the Grid Marker Order Book organizes orders on a price grid, and the Grid Price Linear Movement algorithm governs how prices move across the grid. The stated result is trading with no slippage within that design, low fees and negative maker fees for liquidity providers.
The exact order matching rules, grid sizes and reward formulas are not. Readers should consult the project's documentation for those details.
6 features
Key features
01
On-chain order book
Orders are placed and matched through an on-chain order book rather than an automated market maker curve.
02
Grid Marker Order Book
The Grid Marker Order Book organizes orders on price grids, which is the core of the protocol's design.
03
GPLM pricing algorithm
The Grid Price Linear Movement algorithm is described as enabling trading without slippage within the grid.
04
Negative maker fees
The project says makers can earn rather than pay fees, which is meant to encourage liquidity provision.
05
Multi-chain deployment
DefiLlama lists deployments on Arbitrum, Linea, Polygon, Base and Optimism.
06
GDX token
A token with the ticker GDX is listed on DefiLlama alongside the protocol.
Pros and cons
What we like
- Order book design offers an alternative to standard AMM pools
- Stated negative maker fees could reward liquidity providers
- Deployed on five networks, including Arbitrum, Base and Optimism
- Two audits are listed on DefiLlama
- Has been tracked since April 2023, so it is not brand new
Watch out for
- TVL of about $70,000 is very small, which usually means thin liquidity and limited depth for larger trades
- The homepage could not be fetched and no public reporting were available, so current activity and site status could not be confirmed
- Fee levels, volumes and user numbers are not
- Novel order book design (GMOB and GPLM) is less familiar than standard AMM pools, so there is a learning curve
- The two audits listed are not detailed publicly, so scope, auditor and findings are unknown
Gridex fees
Detailed fee schedules are not. The project description says trading has low fees, no slippage and negative maker fees, meaning makers may be paid rather than charged.
Users would see the actual fee for a given pair in the trading interface before confirming a transaction. Network gas costs on each chain come on top and vary with congestion.
Is Gridex safe?
DefiLlama lists two audits, but the project does not say who carried out the audits, their scope or whether issues were fixed. No incidents or exploits are mentioned, though that does not guarantee none occurred.
Users keep funds in their own wallets but interact with smart contracts, so contract bugs are the main risk. Low TVL can also mean wide spreads and thin liquidity. Verify the official site and contract addresses before connecting a wallet.
6 steps
How to get started with Gridex
- 1
Find the official Gridex site through the project's verified social account and avoid links from unsolicited messages.
- 2
Confirm the app is live and check pool liquidity for the pair you want.
- 3
Connect a self-custody wallet and select a supported network such as Arbitrum, Base or Optimism.
- 4
Read the documentation on how grid orders and maker rewards work before placing funds.
- 5
Start with a small test amount and review fees and gas in the confirmation screen.
- 6
Track open orders and withdraw funds when you are done.
Who Gridex is for
Gridex suits experienced DeFi users curious about order book DEX designs and negative maker fees. It is less suited to anyone needing deep liquidity or large trade sizes, given the small TVL.
Gridex FAQs
What is Gridex?
Gridex describes itself as a fully on-chain order book protocol for the Ethereum ecosystem. It uses a Grid Marker Order Book and a Grid Price Linear Movement algorithm instead of the typical AMM curve.
Which blockchains does Gridex support?
DefiLlama lists Gridex on Arbitrum, Linea, Polygon, Base and Optimism. Check the official app for the current list of supported networks.
Does Gridex have a token?
DefiLlama lists a token with the ticker GDX. The project does not describe its supply, utility or distribution, so check the project's official documentation.
Is Gridex audited?
DefiLlama lists two audits, but the project does not say who performed them or what they found. An audit lowers risk but does not remove it, and any DeFi protocol can have bugs.
What are the fees on Gridex?
The protocol says it offers low fees, no slippage and negative maker fees. Exact fee tiers are not, so check the trading interface before placing an order.
Is Gridex still active?
The homepage could not be fetched while researching this page, and DefiLlama shows only about $70,000 in TVL. Verify that the official app is live and liquid before depositing anything.
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How we checked
Sources
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