ADAX ECOSYSTEM UPDATES
ADAX ecosystem is counting its first quarter since December 2021. There have been many developments since then, including the launch of a CEX, the Launchpad, and the most anticipated DEX. With the successful completion of all 3 product releases, we thought that it was time to shed some light on what’s in store for us. Here are the key milestones we look forward to in the upcoming weeks and months.
ADAX ecosystem is counting its first quarter since December 2021. There have been many developments since then, including the launch of a CEX, the Launchpad, and the most anticipated DEX. With the successful completion of all 3 product releases, we thought that it was time to shed some light on what’s in store for us. Here are the key milestones we look forward to in the upcoming weeks and months.
DEX
1. Development of the ADAX DEX V2 has already been started after the successful completion of the R&D phase. The initial V2 launch will have centralized aspects of the platform that will help us to avoid all the issues we’ve had on the V1 launch. Issues such as blockchain congestion, wallet synchronization with the blockchain, miss-matching UTXOs. This decision has been made in light of the fact that the community is not too familiar with an orderbook model and would prefer a traditional AMM model, despite the fact that it is not a fully decentralized product. This change will also lay the ground for preparation for the Hydra release, which will allow dAPPs to go into a fully decentralized approach with far fewer limitations. The expected launch date is mid-Q2.
2. ADAX DEX V2 will also have a new UX design! We’ve received enormous amounts of feedback, and we have listened. UI preview will be showcased in 1–2 weeks, and people will be able to see how the new DEX will look prior to its actual launch.
3. We are reviewing the fee model that will be used for V2 in accordance with our aim is to be the cheapest DEX out there.
4. Token increments will be removed, and the community will be able to trade any number of tokens they wish.
5. Traditional Liquidity Pools will come into play. We’ve contacted our partner projects and major investors to ensure that they are committed to provide liquidity into the LPs once they are up and running. This was not fully possible with the orderbook model since it did not act in the same way as a traditional AMM would.
6. In addition to ADAX V2 development, GeroWallet and Cardwallet will be integrated into the existing DEX and we’ll have them ready for the upgrade. More wallets will be integrated in the coming weeks.
7. *NEW* — We have decided to include a new feature on the DEX — Self-Service, On-Chain Staking Pools. As the blockchain continues to grow and improve, we feel that it is the right decision to create such a service for all the projects out there. The time is right to move from off-chain to on-chain staking, and that’s exactly what we are going to do. More details will follow on this matter.
8. ADAX NFTs — The collection is complete, and the team is finalizing the staking rewards. Assets will be released in early April.
CEX
1. Minor tweaks on UX to be executed
2. Customer support improvements, increased team, and improvements in response times.
3. Withdrawals and UTXOs issues are being addressed, and a more automated system is being developed. The blockchain continues to improve, and that helps us a lot in terms of going through the backlog of withdrawals on a daily basis.
4. New token listings and liquidity are on their way. Follow the announcements from the team.
5. New marketing campaign to attract more users.
LAUNCHPAD
1. New services to be added for startup projects to help them reach their goals (e.g., websites cleanup, whitepaper reviews).
Overall, we have quite a few things in motion, and the team is not only working hard but is also expanding, which allows us to drastically cut our timelines. Q2 is going to be the biggest quarter for ADAX in general, and we hope to come out stronger than we have ever been. We’d like to thank our community for your support, proactive approach, and constructive feedback. Sometimes it’s the right decision to take a little step back to the drawing board and take the time needed to set things right.
More updates are on their way in terms of specific points listed above, so stay tuned and let’s keep going!
Sincerely,
ADAX Team
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
