Cardano-based DEX ADAX becomes one of the network’s first decentralized exchanges
Since the initial 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 numerous risks entering the race as the community’s standards remained high. But ADAX succeeded and is now ready to release the ADAX DEX v1.0.
Based on the philosophy of decentralization, ADAX DEX is going to use the order book model which brings non-custodial and censorship-resistant trading. Users will be able to instantly execute smart contract-based trades on the platform by paying significantly less than Ethereum network fees.
The launch of ADAX DEX is a huge milestone for the whole team behind it. The company spent six months of work and manpower to deliver one of the first decentralized exchange solutions to Cardano that will work in favor of the ecosystem in the long term.
Key Product Features
ADAX DEX does not fall behind its competitors on other chains and brings everything the Cardano community needs for a truly decentralized exchange experience. The exchange features 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 with the help of Plutus smart contracts that ensure full decentralization. In order to avoid congestion and concurrency-related issues, ADAX is splitting each order into smaller UTXOs.
To make the decentralized experience more convenient, ADAX has spent a lot of time creating a sufficient user experience that is suitable for both institutional investors and private traders. Currently, ADAX is working on the integration of popular wallets. As of now, it offers support for Nami Wallet, with GeroWallet and CCVault on the way in the coming days after launch.
According to the press release, ADAX is launched in a partnership with Stockgeist.AI market sentiment monitoring platform that allows the DEX to offer a revolutionary trading tool that tracks early signs of trader sentiment changes.
The tool collected data from various social media channels such as Twitter, Facebook, Reddit, and Discord. Each token will have its own metric that will allow traders to determine the “hottest” assets in the market.
ADAX team is excited to deliver on its promise to the Cardano community and receive feedback that has constantly supported the team during the development process.
