Acardex’s Staking Platform Goes Live On Cardano As Its ACX Token Presale Begins

Bitcoinethereumnews 1 month ago Report
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Acardex, a non-custodial decentralized exchange based on the Cardano blockchain announced today the successful Beta release of its staking platform on the Cardano testnet.

The staking platform will reportedly allow ACX holders, the native token on the platform to stake their tokens to earn up to 25% additional return. Note, the amount of $ACX allocated will be determined by the size of the stake with providing and rewards being paid out after each cycle.

Commenting on the staking platform, the Acardex team explains:

“A big thanks to our community for their continued support and patience as we worked to push this across the finish line.”

Notably, Acardex utilizes a mechanism similar to the Cardano ecosystem that allows ADA holders to stake their tokens and get rewards in Cardano every five days. In Acardex’s case holders are rewarded with $ACX tokens. Acardex ISPO was created with the mission of encouraging investors to stake their Cardano tokens to help decentralize the Cardano network. 

In addition to the staking platform, Acardex has also kicked off a pre-sale for its ACX token, allowing early adopters to join the project. Users who hold and stake the ACX token will be eligible to vote for their favorite projects. The more ACX tokens a user holds the more weight their vote holds. Those who wish to participate in the event can visit the Acardex website for more details.

The ACX tokens were created as a utility token to be used across the Acardex ecosystem. Token holders can choose to provide liquidity to projects on the DEX to receive a percentage of the liquidity fees. Apart from staking holders can also use their ACX tokens to pay for platform fees and yield farming.

Acardex is working on creating an all-in-one DeFI ecosystem on the Cardano Ecosystem where users can earn ACX tokens without their them without leaving their wallets. The ecosystem will include a decentralized exchange (DEX), a permissionless Staking vault, and a launchpad. Currently, Acardex is working on getting listed on a Tier exchange in the coming day once the pre-sale has been completed. 

Source: https://zycrypto.com/acardexs-staking-platform-goes-live-on-cardano-as-its-acx-token-presale-begins/

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