Cardano Ecosystem Decentralized Exchange, AdaSwap launches on mainnet
AdaSwap, the ecosystem builder behind one of the first decentralized exchanges (DEX) on the network, has gone live on mainnet after more than two years of development.
AdaSwap launches DEX on mainnet
Ecosystem builder AdaSwap became popular in March. It raised $2.6 million in a private round involving Shima Capital and GBV, as well as Wonder Woman star Gal Gadot.
On Monday, November 28th, the AdaSwap team announced the mainnet launch of their decentralized exchange on the Cardano network. The project previously launched ADANFT, an NFT marketplace.
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Hello AdaSwap! After two intense years of growth and building, AdaSwap is excited to announce the launch of our DEX on mainnet! This isn’t our first major achievement, but definitely the most exciting! #crypto #cardano #blockchain #bitcoin pic.twitter.com/S8YvJlELo8
— AdaSwap – The next generation Cardano DEX! (@adaswapapp) November 28, 2022
Along with the mainnet launch of its DEX, AdaSwap announced a $10,000 giveaway of $ASW (its native ecosystem token) to all users using the DEX and providing liquidity.
The AdaSwap DEX
AdaSwap will work alongside the NFT marketplace and other tools under development. Their intent is to provide users and developers with high-yield staking pools and NFT content through launchpads and marketplaces.
Unlike most others, AdaSwap’s DEX integrates fixed, long-term, high-yield pools of liquidity. Additionally, users can stake tokens, buy and sell NFTS, and earn interest on their Cardano tokens through the DEX platform.
In Q1 2023, AdaSwap will attempt to bridge Cardano-based token bridges with tokens based on , Casper and Binance Smart Chain (BSC).
On the flip side
- The Cardano ecosystem has had difficulties building and raising funds. Its stablecoin Ardana had to stop development last week.
Why you should care
The launch of a DEX would be a boost for Cardano’s nascent decentralized finance (DeFi) ecosystem. It has struggled in the crypto winter.
Read more about a recent Cardano milestone in:
Cardano (ADA) daily active addresses surge 90% amid new delegated wallet milestone
Ardana’s hold is covered below:
Ardana, a decentralized stablecoin building on Cardano, abruptly halts development
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