Linea Partners With ConsenSys And NILE To Launch Etherex, A Fully On-Chain DEX

In Brief

Linea has partnered with ConsenSys and NILE to launch Etherex, a fully on-chain decentralized exchange with a focus on scalable infrastructure, liquidity incentives, and decentralized governance.

Ethereum Layer 2 scaling solution, Linea announced that it has partnered with blockchain technology firm ConsenSys and NILE, an automated market maker serving as Linea’s central liquidity hub, to launch Etherex on Linea—a decentralized exchange (DEX) focused on full on-chain infrastructure and user alignment

Etherex builds on the foundational vision of Ethereum’s creators from 2014, aiming to realize a fully permissionless and on-chain trading platform. It is positioned as the next phase of the Nile Exchange, leveraging Ramses v3 technology and the x33 tokenomics structure. The platform is configured to allocate 100% of native emissions to liquidity providers through the REX token and direct 100% of trading fees to xREX voters.

This framework underpins Etherex’s MetaDEX approach, in which Linea allocates incentives to pools that demonstrate long-term sustainability and high quality, with the goal of maintaining deep LINEA liquidity and supporting the broader scalability of the ecosystem

The platform’s native token, REX, is issued as a liquid reward to participants providing liquidity. Holders of REX have the option to convert it into xREX, enabling them to direct emissions toward specific liquidity pools of their choosing. Through the REX33 system, users are able to modify their voting allocations in real time, without being subject to any token locking requirements.

Etherex Unveils Key Innovations Ahead Of Scheduled July 28 Launch

The platform introduces several technical advancements, including immediate liquid emissions available from the outset without the implementation of vesting schedules, and integrated safeguards designed to mitigate the risk of just-in-time flash farming exploits. Details regarding launch allocations are expected to be released in the near future

Etherex operates on the Ramses v3 engine, a system that has previously driven platforms such as Shadow on Sonic and Pharaoh on Avalanche, collectively reaching over $40 billion in trading volume and generating more than $60 million in fees—demonstrating both its operational scalability and efficiency in active market conditions

Security measures have been emphasized through the completion of audit processes totaling over $1 million, conducted by Web3 security company Spearbit and smart contract audit service ConsenSys Diligence, in addition to an active bug bounty initiative currently in place.

According to the announcement, Etherex is scheduled to go live on July 28th. The platform’s inaugural epoch is planned to commence just ahead of the anniversary of the Ethereum Mainnet, which is set for July 30th, creating alignment between Etherex’s debut and key ecosystem milestones in anticipation of the LINEA token generation event

In future phases, Etherex is expected to incorporate MetaMask Points integration, implement Surge 2 functionality, pursue cross-chain capabilities, and establish additional strategic partnerships to support platform growth and interoperability.