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Cardano welcomes a new decentralized exchange to its network, ADAX, which has gone online.
Cardano has just accepted ADAX, a new decentralized exchange, to its network.
To enable complete decentralization, the DEX employs Cardano’s Plutus smart contracts.
Following the introduction of competitor DEX SundaeSwap, Cardano’s total value locked has surpassed $70 million.
After only five months of smart contract activation on the Cardano network, another decentralized exchange (DEX), ADAX, has been opened. According to the details, the order-book-based DEX is a “critical element of the long-term profitability of the Cardano ecosystem.”
Cardano guarantees complete decentralization.
To achieve full decentralization, ADAX, a custodial and order-book-based DEX, includes Cardano’s Plutus smart contracts.
The introduction of ADAX to the Cardano mainnet is a huge step forward for the network as it continues to explore decentralized finance (DeFi). The company spent six months developing the first Cardano DEX that would benefit the ecosystem in the future.
ADAX allows on-chain swap execution and focused liquidity orders, allowing it to be the most efficient and performant competitor in the DEX ecosystem.
