OccamX Updates: Development, Audit, Testnet Release & More!

Hello OccamFi community,

We’re very excited to share the testnet release of the OccamX DEX!

The OccamX decentralized exchange development is done and ready to be tested on the Milkomeda testnet. Users are welcome to provide feedback prior to the OccamX official launch on the mainnet. Once launched, OccamX will be one of the very few DEXs to trade ADA and Cardano Native Tokens against assets from ETH and other EVM compatible networks in a trustless manner (including pairs such as ADA/USDT and ADA/ETH). Essentially, this means that through OccamX the Cardano native liquidity will finally get the trustless exposure to liquidity nested on other layer 1 networks. Those who are with Occam for a long time might remember this promise from way back.

Well, now it will come reality.

OccamX has also finalized its audit with HX Technologies, which you can check out here. A second audit is currently being planned and will soon follow.

In case you’re new to the community, OccamX is a AMM DEX built on Milkomeda to enable trussless blending of cross-chain liquidity with assets from the Cardano ecosystem. The exchange is developed by a team incubated by Occam.fi (backed by EMURGO and IOHK through the cFund).

Milkomeda is a layer-2 Protocol for delivering Ethereum Virtual Machine (EVM) capabilities to non-EVM blockchains. Utilizing Milkomeda allows OccamX to launch with full capacity, smoother UX and much more efficient price discovery dynamics, sooner than would have been possible on the Cardano mainnet alone.

OCX Token

The OccamX DEX is powered by the OCX token, which can only be gained by contributing to the Occam.fi ecosystem. The ways through which OCX can be accrued include:

Staking OCC here.
Staking Uniswap OCC/ETH liquidity tokens here.
Providing liquidity in the new BSC pool on PancakeSwap here.
Delegating ADA to Occam.fi Cardano Stake Pool (ISPO), live here.
Holding OCC-ADA natively on Cardano Blockchain.

OccamX on Mainnet

While the testnet is ready to be used, OccamX’s launch on the mainnet is not far behind. We are in the process of a joint mainnet release with our new partners, Nomad Bridge. Nomad is a cross-chain communication standard that enables cheap and secure transfers of tokens and data between chains.

Together with Nomad, OccamX will become a hub for providing cross-chain liquidity. Thus, the Milkomeda mainnet will benefit from access to a variety of Ethereum and other EVM network assets, while as a result of the Milkomeda bridge, Cardano Native Tokens (CNTs) and ADA will be available.

With this joint release, the OccamX DEX will offer an interesting range of pools and pairs such as ADA/USDT and ADA/ETH, and CNTs will be able to be traded easily. At the time of writing, OccamX will be the only DEX where it’s possible to trade such asset pairs in a decentralized manner.

Next Steps

The DEX development is finalized, but we are not stopping there. We encourage everyone to try out OccamX on the testnet and provide feedback to our team. Make sure to follow us, as we will soon be announcing a bug bounty campaign — a separate article on this is coming up. The DEX will be in continuous improvement following the upcoming mainnet launch with Nomad.

After the mainnet launch, users can expect a major liquidity mining campaign to start. We will be announcing the details of the campaign and its incentives soon! A dashboard representing all the pools, including rewards and incentives is also being developed.

Users can also expect to see an interface for the bridge interaction with Nomad right on the OccamX exchange.

OCX staking is coming up as well; we will be sharing more information on this as soon as staking becomes available.

If you’re keen on finding out more, we have a live AMA with CoinTelegraph coming up this Friday that will focus on the OccamX DEX. Make sure to follow our social media channels for details!

Testing the DEX

OccamX is deployed over the Cardano EVM based sidechain “Milkomeda C1” which connects to the Cardano network, and uses wrapped ADA (MilkADA) as the base asset to govern and pay for network transaction fees. Milkomeda in general is a protocol developed by dcSpark team that aims to provide an EVM development environment for non-EVM blockchains.

Users can access the beta version of the DEX here: occam-x.fi. Submit your feedback here.

! Follow the full step by step guide to testing OccamX on the Milkomeda testnet here.

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