Tel Aviv, Israel
–News Direct–
Adaswap, the ecosystem builder powering one of Cardano’s first decentralized exchanges backed by Gal Gadot and Shima Capital, is gearing up to launch its testnet on June 29. This makes AdaSwap one of the first to launch on the Milkomeda network to unlock the capabilities of the Ethereum Virtual Machine.
The AdaSwap team has been building the first decentralized exchange for the Cardano ecosystem over the past few months. The launch of the project’s testnet marks a crucial milestone for AdaSwap and the broader Cardano ecosystem.
In addition, AdaSwap is one of the first providers to explore the Milkomedia network. Using this Layer 2 protocol, developers can provide Ethereum Virtual Machine (EVM) functionality for blockchains that are not EVM-compatible. It expands the functionality of the Cardano ecosystem and enables the building of more prominent and complex products and services.
Exploring Milkomeda makes sense for Adawap as the Layer 2 solution accounts for over $36M in Total Value Locked (TVL) today. Developers have shown great interest in Cardano’s first functional sidechain, bringing more functionality to their communities.
AdaSwap CEO Itai Levi comments:
“Deploying on Milkomeda has enabled Adaswap to deploy at a rapid pace and make our DEX usable for Cardano-native assets at lightning speed. We can’t wait for our community to explore these new opportunities and bring a new wave of liquidity to Cardano in the DeFi ecosystem. We also look forward to the benefits of blockchain interoperability that Milkomeda will bring.”
Cardano is the eighth largest cryptocurrency by market cap, but its DeFi and DEX ecosystem is still in the early stages of development. The launch of AdaSwap will change this narrative for the better and will highlight the potential of Cardano and Milkomeda in these industries.
AdaSwap is the emerging high-throughput decentralized exchange (DEX) tailored for the Cardano ecosystem and the native tokens issued on this network. The project has a significant first-mover advantage to create a micro-ecosystem that will help more people build on and use the Cardano blockchain.
About AdaSwap
AdaSwap is an ecosystem builder aiming to create the first decentralized exchange on the Cardano network. The AdaSwap DEX will make it easy to swap cryptocurrency tokens, create, buy and sell NFTs, launch new projects and invest funds in liquidity pools to earn fees on the Cardano blockchain.
contact details
AdaSwap
Father Levi
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