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Cryptoknowmics 2022-01-31 08:15:57

Cardano’s New Decentralize Exchange ADAX Goes Live

Cardano-based ADAX goes live as one of the first decentralized exchanges on the blockchain network. The latest DEX now forms a part of the network’s growing DeFi ecosystem less than five months after the activation of smart contracts on the Cardano network. ADAX, a custodial and order-book-based DEX uses Cardano’s Plutus smart contracts to ensure full decentralization and seamless transactions. Users can now effortlessly execute the smart contract-based trades instantly and only at a fraction of the cost of the Ethereum network. ADAX enables on-chain swap execution and concentrated liquidity orders, allowing it to be a leading competitor in the DEX ecosystem in terms of efficiency and performance. In order to avoid congestion and concurrency-related issues, ADAX splits each order into smaller unspent transaction outputs (UTXOs). The platform currently supports the Nami Wallet, one of the most actively used browser wallets for accessing the growing Cardano ecosystem including plans to integrate more wallets like GeroWallet and CCVault a few days after the launch. At the same time, the platform has expanded its partnerships to include Charlie3, an oracle prover, World Mobile, a solution offering blockchain-based telecommunication infrastructure, and VyFinance, a yield auto-harvester in Cardano. Additional partnerships include Stockgeist.AI market sentiment monitoring platform that allows the DEX to offer a trading tool that trac...

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Cardano’s New Decentralize Exchange ADAX Goes Live

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