This platform aims to vary the sport with censorship-resistant DeFi on the Cardano scheme.
As issues round the use of the Ethereum blockchain rise, several have turned to the Cardano scheme as an answer to the increasing fees and slower transactions that have resulted from the flow of users. ADAX founders have recognized Cardano for its scientific approach to sensible contracts, that area unit believed to redefine the longer term of DeFi, with a brand new approach to doing business.
As a result, ADAX is stepping up to produce a set of Cardano-tailored DeFi solutions and a mercantilism venue that facilitates token swaps, NFT mercantilism and a lot of.
The team behind ADAX shares that the tip goal of this project “is merely to make a benchmark of a liquidity/swapping resolution that the Cardano community may simply adopt and re-used for future projects.
Providing a full suite of features
The platform aims to attain this vision by employing a trustless protocol to conduct censorship-resistant token swaps whereas investing social-sentiment-based mercantilism tools.
Since the platform is totally decentralized, users conjointly maintain full management of their tokens. This feature are often compared to a centralized exchange, wherever users should quit their non-public keys to be managed by the platform.
Other options the ADAX founders highlight are:
User experience
The ADAX platform strives to follow industry best practices to ensure the user experience is frictionless and easy to use.
Token swaps
ADAX enables users to execute smart contract-based trades both instantly and cheaper than the Ethereum network. Without using an order book, the platform removes all intermediaries and complex procedures from the process.
Social Sentiment Trading Tools
A partnership with Stockgeist.AI, a market sentiment monitoring platform, allows ADAX traders to adjust investments based on early signs of social sentiment. Data is collected from social media sites like Twitter and Discord to determine which tokens are gaining traction and which are losing.
Wallet integrations
Widespread wallet integrations include the full support of Yoroi, GeroWallet and CardsWallet, and several additional API-based integrations on the horizon.
Liquidity pools
Compared to most liquidity pools, the ones on ADAX do not rely on constantly shifting ratios, with impermanent loss common in low-volume assets. These factors result in undercutting early liquidity providers’ risk and reward-based justification.
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The Future of ADAX
The ADAX initial exchange providing (IEO) occurred in June 2021 on ExMarkets.com, one amongst the primary platforms to implement Cardano native token support. The team shares that this IEO was “tremendously triple-crown,” as was their oversubscribed private sale.
More is future for the platform, as ADAX continues to leverage strategic partnerships, operating with Mate Tokey, one amongst the co-founders of Bitcoin.com, and Roger Ver, United Nations agency several understand as ‘Bitcoin Hebrew.’ different efforts to extend the platform’s reach have enclosed partnerships with Black Dragon and Charli3, the decentralized ASCII text file oracle for Cardano. These partners have acted as selling, innovation and technological partners.
Other notable relationships embody GeroWallet, a Cardano billfold, and MELD, a non-custodial banking protocol.
Learn more about ADAX