dApp Minswap, The Top 1 Cardano-Powered DEX By TVL

This article provides an overview of Cardano dApp Minswap, which is a multi-pool decentralized exchange on Cardano.

Due to its lack of venture capital backing or private investment, Minswap asserts that it is a community-centric decentralized exchange on Cardano. This, it argues, ensures that the community of users, rather than insiders and speculators, receives the maximum benefit from its token distribution.

According to its white paper, Minswap is “an automated market-maker decentralized exchange on Cardano which supports multiple pricing functions for a single liquidity pool.”

MInswap went live on Cardano on March 9:

On March 19, Minswap announced that it had open-sourced its code:

Just to clarify 😄 Key messages here
1. I love Minswap, in fact not easily replicated (community, liquidity, backend etc)
2. Cardano DeFi going open source
3. Haskell was never a problem
4. A lot of the dev activity elsewhere are just copy paste efforts of existing dapps anyway

— ADA whale (@cardano_whale) March 20, 2022

On August 23, Minswap Labs announced via a blog post that it had formed a strategic partnership with Aada Finance.

On August 29, Minswap Labs tweeted that they are ready for the Vasil upgrade.

We have successfully upgraded Minswap nodes to 1.35.3.🫡 🎉

We are still performing regression testing to ensure the changes didn't break any existing features on Testnet.#VasilHardFork

— Minswap Labs (@MinswapDEX) August 29, 2022

According to data by DeFi Llama, currently, Minswap is the top 1 DEX on Cardano with a TVL of roughly $48.45 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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