ADAX’s DEX just launched on Cardano

ADAX v1 is now live on Cardano. It is now part of the network’s nascent DeFi ecosystem, less than five months after the activation of smart contracting in late September 2021.

ADAX launches order book DEX on Cardano

Details on Jan. 30 reveal that ADAX is a “core infrastructure critical to the long-term prosperity of the Cardano ecosystem.” The disaster introduces new features that stand out from other live and upcoming DEXs.

ADAX is a decentralized custody and order book exchange designed to fit Cardano’s unique architecture. The DEX includes smart contracts built with Plutus for decentralization and to ensure instant and smooth transactions for all users.

The codes of the DEX are secure and derive their security from the expertise of the development team and the decentralization of Cardano. The network is the most decentralized Proof-of-Stake consensus algorithm blockchain with over 3.3k staking pools. This follows the activation of the Shelley phase in 2020, making it possible to create strike pools after months of testing.

Cardano DeFi is growing

Currently, Cardano has a total value of over $70 million and comes a few days after the deployment of a competing DEX, SundaeSwap. At this level, Cardano follows other networks that have been active for years.

The most dominant network for deploying DeFi dApps is Ethereum. It manages a total value of over $109 billion, with Uniswap being one of the largest DEXs in terms of assets under management. ADAX aims to follow the example of Uniswap and PancakeSwap as a go-to platform in Cardano, distinguished by its range of features.

Tackling concurrency and congestion

At the same time, ADAX will facilitate trade in the chain with measures to contain the high congestion at the end of January 2022. Transaction delays coincided with the launch of the first intensive DeFi dApp. In addition, the ramp adds technical capabilities to avoid concurrency issues common in the UTXO accounting system in Cardano.

While concurrency may or may not increase performance, throughput, or responsiveness, the frequency of concurrency can limit the number of operations that can be performed simultaneously.

Concurrency can happen in Cardano because it is designed differently from the rest like Ethereum. The pioneering smart contracts platform uses a mixer accounting model where transaction confirmation is not deterministic, but relies on Gas that a trader is willing to pay.

Expanding Partnerships

The ADAX graphics team also spent weeks designing an appropriate user interface that is intuitive and easier to navigate. This helps accelerate DeFi adoption, as complex user interfaces and operations in DeFi often keep interested users out.

ADAX also supports Nami browser wallet. It is one of the most actively used browser wallets for accessing the growing Cardano ecosystem. It is a multi-currency and multisig hot wallet that allows users to securely store and transfer various native tokens, delegate to stake pools and perform other operations. There are plans to integrate more wallets such as CCVault and GeroWallet.

At the same time, they have expanded their partnerships with Charlie3 – an oracle prover, World Mobile – a solution that provides blockchain-based telecommunications infrastructure, and VyFinance – a revenue car harvester in Cardano.

The goal of partnering with others is to create a cyclical ecosystem that improves the user experience and helps Cardano DeFi grow.

Leave a Reply

Your email address will not be published.