Cardano DEX ADAX goes live as one of the first decentralized exchanges on the network

Arman Shirinyan

Cardano-based DEX ADAX goes live as one of the first decentralized exchanges on the network

Since the first announcement of smart contracts technology for Cardano, the community around it has been excited to see the Uniswap or PancakeSwap tier representative of the ecosystem. Each had plenty of risks of taking part in the race as community standards remained high. But ADAX has succeeded and is now ready to ADAX DEX v1.0.

Based on the philosophy of decentralization, ADAX DEX will use the order book model that entails non-custodial and censorship resistant trading. Users can perform smart contract-based transactions directly on the platform by paying significantly less compared to Ethereum network fees.

The launch of ADAX DEX is a huge milestone for the entire team behind it. The company has spent six months of work and manpower to deliver Cardano one of the first decentralized exchange solutions that will work to the benefit of the ecosystem in the long run.

Main features of the product:

ADAX DEX doesn’t lag behind its competitors in other chains, bringing everything the Cardano community needs for a truly decentralized exchange experience. The exchange presents on-chain swap execution and concentrated liquidity orders that allow it to outperform its closest competitors in terms of efficiency and performance.

Developers of the exchange have created a custom PAB solution using Plutus smart contracts that allow for complete decentralization. To avoid congestion and concurrency-related issues, ADAX splits each order into smaller UTXOs.

To make the decentralized experience easier, ADAX has spent a lot of time creating a sufficient user experience suitable for both institutional investors and retail traders. Currently ADAX is working on the integration of widespread wallets. As of now, it will bring support for Nami Wallet, with GeroWallet and CCVault in the coming days after launch.

According to the press release, ADAX is being launched in conjunction with the Stockgeist.AI market sentiment monitoring platform that will enable DEX to offer a revolutionary trading tool that tracks early signs of changes in traders’ sentiment.

The tool collected data from various social media channels such as Twitter, Facebook, Reddit, and Discord. Each token has its own metric that helps traders determine the “hottest” assets in the market.

The ADAX team is pleased to deliver on its promise to the Cardano community and receive feedback that has continuously supported the team throughout the development process.

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