ADAX, The Cardano Based Decentralized Exchange That's Changing The Status Quo
ADAX, The Cardano Based Decentralized Exchange That's Changing The Status Quo
(MENAFN - ACCESSWIRE) NICOSIA, CYPRUS / ACCESSWIRE / June 4, 2021 /
For those not familiar with , it's an automated market maker that serves users on the Cardano network. It's set to rival the biggest DEXs out there due to the overwhelmingly favorable attributes of the Cardano ecosystem.
Created to deliver a seamless trading experience in a decentralized setting, ADAX is poised to make users transact smoothly on the Cardano network.
On ADAX, people can expect to trade freely without the many restrictions that have made centralized exchanges unpalatable.
De-Fi protocols might not be renowned for their security architecture, but ADAX intends to change the narrative. Trades on the Cardano foisted DEX are bound to be safe in addition to how quickly they get completed.
For users, swap fees among decentralized exchanges aren't encouraging. This has caused most to settle for the known devil - centralized exchanges - just to escape such fees. ADAX plans to change that perception. Its swap fees are the lowest, which should encourage more users.
DEX activities thrive on liquidity provision by users. ADAX is no exception, but the platform understands the general misgivings regarding providing liquidity. The drop in value of assets added occasioned by impermanent loss isn't adequately compensated in fees generated.
To encourage greater participation of users in the process of liquidity provision, which results in a more buoyant DEX, all the swap fees generated are shared between market makers and liquidity providers.
ADAX might be based on the Cardano network, and for good reasons, but its native token, ADAX is set to be an ERC20 token. This might be surprising for a DEX that's built on a different blockchain, but no one can ignore the near-perfect nature of the ERC-20 setup. ADAX gets that, so the $ADAX is of the ERC-20 stock.
Decentralized exchanges aren't in short supply across multiple blockchains, but ADAX isn't just making up the numbers. Built on the Cardano network, the DEX has a user-friendly interface that is certain to retain the interest of users. On ADAX, users can confirm what tokens they have through the balance option - this is something that's not obtainable elsewhere.
As the Cardano network continues to add functionalities to its blockchain, users can expect more innovative features on the ADAX protocol in addition to the fluidity in operation. This is something the average user will find quite helpful as they move away from the obsolete order-book arrangement that has kept centralized exchanges in the backseat.
Conclusion
ADAX is a De-Fi protocol that will optimize the capabilities of the Cardano blockchain. Compared to the average DEX, this AMM gives priority to the interest of users as seen in its numerous features. If you missed Uniswap, ADAX is still early as Cardano remains in construction.
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