Decentralized exchange protocol, ADAX, is now live on the Cardano network. The team announced this development on Twitter last night
Since the first revelation of Cardano’s smart contracts technology, the community has been anticipating the ecosystem’s Uniswap or PancakeSwap-tier representation. Each entered the race with several dangers, since the community’s expectations remained high. However, ADAX has overcome these obstacles and is now prepared to deploy the ADAX DEX v1.0.
Only five months after the Cardano Network’s smart contracts were activated, another decentralized exchange (DEX), ADAX, was built. Further investigation indicated that the order-book-based DEX is a “critical component of the Cardano ecosystem’s long-term success.”
However, the DEX is not ADAX’s sole offering. Additionally, it operates a controlled exchange, CEX, for Cardano projects established earlier this year. The CEX has partnered with a number of Cardano-based startups, including Charli3, VyFinance, KICK.IO, and GeroWallet. All of these projects will be able to exchange their tokens on the CEX.
On the basis of decentralization, ADAX DEX will use an order-book method, which enables noncustodial and censorship-resistant trading. On the platform, users will be able to execute smart contract-based transactions rapidly and at a fraction of the cost of Ethereum network fees.
ADAX DEX does not lag behind rivals on other chains and provides the Cardano community with all they want for a genuinely decentralized exchange experience. On-chain swap execution and focused liquidity orders enable the exchange to beat its nearest rivals in terms of efficiency and performance.
