Contents
What Is Adax?
Cardano Exchange (ADAX) is a decentralized and non-custodial automated liquidity protocol that supports transactions inside the Cardano ecosystem in a totally decentralized and non-custodial environment.
Because ADAX does not have middlemen, complexity, and time-consuming processes are removed from the equation, allowing users unfettered freedom to trade without fear of censorship or losing control over their investments.
Users may retain complete control over their tokens and are not needed to hand up their private keys in order for their orders to be recorded, as they would be if they were trading on a centralized exchange. This manner, decentralization is about more than simply user privacy; it is also about reducing the danger of asset loss in the unlikely case that exchange security is breached, which is very unlikely.
Adax feels that the capacity to adapt to developments in the fast-moving world of cryptocurrency is critical for success. In order to coincide with the introduction of new Cardano functionality, ADAX has accelerated its development to ensure that it is ready by the end of 2018.
ADAX will be able to facilitate token swaps, staking, assuring market liquidity, and allowing users to make full use of the network’s capabilities.
Cardano smart contracts were expected to become live in the third quarter of 2021. As a result, adax’s proprietary protocol is meant to be lightweight and quick, while also offering a decentralized pricing mechanism that helps to reduce order book depth. ADAX has assembled a team with a proven track record of success in a variety of cryptocurrency businesses.
By bringing in a plethora of expertise, know-how, and best industry practices. ADAX will be able to increase the advantages to users inside the Cardano network by a factor of ten.
ADAX’S Vision
When it comes to being the UniSwap, the unicorn of the Cardano network, there is no limit to what ADAX may do. Aiming to eliminate the need for intermediaries, ADAX aims to pave the path for entirely decentralized, censorship-resistant, and secure trading on the Cardano ecosystem. Users of the ADAX platform will be able to simply perform smart contract-based transactions in real time and at a fraction of the cost of the Ethereum blockchain.
A DECENTRALISED ASSET EXCHANGE
Because of the transaction speed and transaction costs associated with Ethereum, order book-based DEX contracts on the blockchain use an off-chain matching and on-chain settlement strategy. Although there are several difficulties around poor user experience and restricted liquidity, order book-based DEXs have a low transaction volume and cannot compete with centralized exchanges in terms of transaction volume and liquidity (CEXs). That being said, alternative market makers (AMMs) like as Uniswap or ADAX provide an enticing alternative by bringing with them advances in the decentralized finance (DeFi) sector as well as novel ideas for developing contract-based decentralized exchange (DEX) platforms.
LIQUIDITY STRESS
Asset Pools with Multiple Assets If the ratios of LPs vary dynamically on a frequent basis, there is a problem with the way they are presently constructed. Because they get a part of the pool that is directly proportionate to the amount of liquidity they supply, liquidity providers have an incentive to give liquidity to low-volume assets in exchange for larger rewards. Unfortunately, this is not a sufficient incentive in the majority of circumstances, since temporary loss is common in lesser volume assets such as those mentioned above. As a result, liquidity providers do not believe the risk/reward balance is favorable.
CARDANO ERC20 CONVERTER
This far, Cardano has supported the A.D.A. token, as well as a variety of additional native Cardano tokens, all of which have proved to be incredibly popular, with over 160,000 tokens having been created to date. To secure future compatibility and establish the groundwork for a variety of commercial options in the cryptocurrency world, Cardano is now offering an ERC20 converter for purchase on the Ethereum exchange.
A tool intended to assist token issuers (organizations that desire to facilitate the transfer of their tokens to Cardano) and its users (token holders) in migrating their ERC20 tokens to the Cardano network has been developed.
User’s Ethereum tokens may be converted in a matter of seconds, and once transferred to Cardano, these tokens will be ‘translated’ into a specific native token that has the same value and functions in the same way that an ERC20 token does on Ethereum.
Additionally, Cardano provides two-way convertibility, which means that if a user choose to do so at a later date, they may burn their tokens on Cardano and transfer them back to the source network, if they so want.
Why ERC20?
Since Ethereum introduced the concepts of smart contracts and ‘programmable money’ to the blockchain in 2015, the ERC20 protocol has emerged as the de facto standard in the cryptocurrency market. As a result of the huge usefulness it offers in ordinary business transactions, tokenization and the ERC20 token have gained popularity since then. ERC20 tokens that are well-designed may meet a wide range of requirements, and the more helpful they become, the greater the demand for them and, therefore, the greater the increase in their value. Because of this, they are extensively utilized and supported by wallets and exchanges on a broad range of platforms.
ETHEREUM Vs CARDANO
In order for Ethereum to function, the ERC20 standard was developed, and as of today, there are over 400,000 contracts that are based on this token standard. However, while being very popular and useful, the Ethereum network is gradually slowing down and becoming more costly to operate. Due to the increasing number of network members interacting with decentralized apps, the ‘gas’ costs charged for verifying transactions are increasing at an alarming rate. All users will be able to benefit from the advantages of ERC20 standard tokens at a reasonable price thanks to Cardano’s commitment to significantly reduce transaction fees and speed up transactions.
What About The Tokenomics
Adax’s RoadMap
More Information About Adax
- Partnerships – Charli3 / Netvrk / Gero Wallet / VyFi / KICK / Stockgeist A.I. / BTBlock / Matrixswap/ WMT / Coti (team is constantly working on getting partners on board that will be announced)
- Advisors/famous investors – Roger Ver / Mate Tokay / Black Dragon / David Widmann
- Currently, version 1 (V1) and 2 (V2) audited by BTBlock
- Current market cap – around $25 million. About 54 million in circulation (5/2/22)
- Team of 26 and 12 Devs with Plutus and Haskell experienced developers in the mix and at ADAX disposal
- Youtubers to cover ADAX – Cardano with Paul / Bitboy Crypto / Wendy O / Crypto Rain / Hustlepedia / Max Maher / Wealth in Progress / Altcoin Buzz / Crypto Jebb / Kelly Kellam and many more
- Tradable on – Exmarkets and Cex.Adax.pro
