A new DEX protocol built to operate in a completely decentralized and non-custodial way is being built on Cardano Network.
ADAX is aiming to be the UniSwap of the Cardano Network, as it seeks to eliminate the need for middlemen that have constantly placed massive barriers in centralized systems and made transactions expensive and slow. With ADAX, we are creating a platform that is completely decentralized, censorship-free, and secure running on the Cardano network.
With the smart contract, ADAX users will be able to instantly execute trades effortlessly and cheaply. ADAX’s fees are just a fraction of the fee Ethereum users pay, which is of great value to our users who are looking to trade with a competitive fee.
As you may be aware, Ethereum’s current proof-of-work consensus design on their main-net is one of the biggest barriers to the growth of DeFi projects. It’s a consensus that can only support 15 transactions per second, which creates significant bottlenecks for users and developers. As more users overwhelm the Ethereum main-net platform, the network fee often skyrockets to the highs of hundreds of dollars per transaction, making such activities completely unsustainable for many users. But with Cardano Network, founded by Charles Hoskinson (also a co-founder of Ethereum), we are looking into a consensus protocol that is going to dismantle the status quo and bring the desired changes in the world of crypto.
So how is ADAX preparing to make use of the robust and superior consensus protocol? First, let’s understand what ADAX is, and how it works.
What is ADAX?
ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way. ADAX does not have an order book, because it wanted to eliminate all intermediaries, complexities, and cumbersome procedures from the equation. ADAX offers users untrammeled freedom to trade without censorship or loss of control over their assets. Here, users take full control of their tokens, which is a departure from the centralized counterparts that require their users to give up their private keys to facilitate the ordering process. From this arrangement, you can notice that decentralization is not just about user privacy but also about removing the counter-party risk of asset loss in the event that the exchange security has been compromised.
We strongly believe that the speed of adaptation in this fast-moving world of crypto is essential in the long run. Hence, ADAX is working to adapt to the new trend as Cardano is adding more functionalities to make transactions easy and more affordable. As soon as Cardano smart contracts launch in Q3 2021, ADAX will be there facilitating token swaps, staking, ensuring market liquidity, and enabling users to make full use of the network’s capabilities. ADAX protocol is designed to be light and fast, providing a decentralized pricing mechanism that smoothens the order book depth. ADAX is run by a high caliber team with an enviable track record, and through this experience, they understand how the industry works. The ADAX platform will amplify the benefits to users within the Cardano network.
We have been bullish on Cardano, and we continue to have confidence that it’s the network of the future. And this is why…
In recent years, many cryptocurrencies have experienced the most volatile runs, rapidly rising and falling in equal measure. Cardano, on the other hand, has continued to remain sturdy and steady in its rise since its launch in 2015. Additionally, the Cardano project has continued to demonstrate substantial but consistent gains and rapid expansion within the Decentralized Finance (DeFi) landscape.
Cardano Network derives its strength from the robust and dedicated community it has built over the years. The unique community is like no other, as it was drawn by Cardano’s scientific, evidence-based approach to smart contracts that are redefining the future of DeFi by ushering in a completely new approach to doing business.
We’re all aware that the future of crypto and DeFi projects reside in continuous innovation, and here Cardano doesn’t seem to stop. Cardano’s strength is in the innovations based on peer-reviewed research and development based on evidence. The platform is growing to become the new crypto-setter of choice as investors continue to recognize the network’s potential to challenge the embedded status quo of monopolistic and bureaucratic power structures within the world of crypto.
As such, Cardano focuses on moving toward an all-inclusive technological standard and open platform with unmatched security and breakneck blockchain speed, which will lower transaction fees. Since the Cardano project is under the administration of a non-profit foundation and offers a plethora of advanced functionalities, we project that most future blockchain and crypto projects will look into Cardano as the better option, against its competitors. When it happens, ADAX will be part of the journey, as we aim to provide a site of DeFi solutions customized to Cardano Network. Cardano’s long-term goal is to
become the most powerful trading venue within the Cardano ecosystem, as we plan to introduce a trustless protocol that facilitates token swaps, non-fungible tokens (NFT) trading, and broader reorientation of the crypto world.
Check out our website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale: