This is a utility token in the recognized exchange based on Idex etherium, its main utility is to bet the token and earn fees to keep the exchange safe, the distributions are made in an automated way.
The IDEX rewards are formally carried out to encourage the use of the decentralized exchange from time to time, in addition, it is not necessary that you do anything other than trade on Idex to start receiving rewards, you simply have to use the exchange and that's it.
In general, this is a decentralized exchange that has more and more users who support this idea, so much so that other chains have created their forms of Dex without using Etherium, the truth is a good alternative to start using exchanges of this type.
In addition, the token for now lacks certain utility within the exchange since etherium is used to pay fees, among others.