Disclaimer: The text below is a press release that was not written by Cryptonews.com.
We are excited to introduce ADAX, a new DeFi protocol based on the Cardano network to revolutionize transactions. The weaknesses of the current proof-of-work (PoW) consensus design of the Ethereum main-net are no longer news, as it has stunted the growth of Ethereum for a long time. Case in point, Ethereum’s 15 transactions per second is too slow, which consequently increases transaction costs to a record high.
Founded by Charles Hoskinson, a co-founder of Ethereum, Cardano will soon launch smart contract support, which is likely to unsettle the status quo and will send ripples through the entire world of crypto. ADAX will be here, providing a suite of DeFi solutions backed by Cardano. Hosted on the Cardano ecosystem, ADAX will become the powerful trading platform, with its trustless facilitation of token swaps, non-fungible token (NFT) trading, and broader reorientation of the crypto world towards Cardano. But it’s important we understand what exactly ADAX is, and how it works.
What is ADAX?
ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way. Based on the desire to shorten the network transactions and reduce costs of transactions, ADAX has been designed without order books. The removal of intermediaries, complexities, and cumbersome processes from the equation will provide users with unhindered freedom to trade without censorship or loss of control of their assets. This is a complete departure from what takes place in centralized exchanges, where users surrender all the controls of their assets to the exchange. In this case, ADAX is projected to offer more transparent, secure, and faster transactions.
ADAX boasts a team with a track record of success in various crypto ventures. By bringing in a wealth of experience, know-how, and best industry practices, the team will ensure ADAX amplifies the benefits to users within the Cardano network.
There is every reason to believe that Cardano is a project for the future, as it seeks to solve all the problems that have evaded its competitions. As you may be aware, Cardano is currently running on some of the most cutting-edge blockchain technologies and innovations. The network is based on peer-reviewed research and developed through evidence-based methods, Cardano is widely anticipated to become the new crypto standard-setter.
Smart investors have begun to recognize Cardano’s potential to challenge the status quo of monopolistic and bureaucratic power structures within the world of crypto. Cardano boasts unparalleled security, breakneck blockchain speed, and significantly lower transaction fees, features that are seen to usher in a new DeFi era. Additionally, Cardano is run by a non-profit foundation and offers a myriad of advanced functionalities. This is likely to motivate future crypto projects to choose Cardano over its competitors.
We’ve seen the recent happenings in the crypto world as many cryptocurrencies have experienced a dip in market runs. Cardano, however, has continued to experience steady and consistent growth. This growth is attributed to its rapid innovations in the DeFi landscape. Its broad community of supporters is highly dedicated for a reason, as it continues to move with evidence-based strategic actions that build confidence in users and fans.
ADAX is building its hopes on its adaptability efforts, which will see them move alongside the changes taking place in the Cardano ecosystem. Just to keep you up to date, Cardano is upgrading its ecosystem to bring more powerful functionalities to support DeFi projects such as ADAX, and we hope that this is going to be the beginning of a new era in the DeFi revolution. For example, Cardano is working on its Smart Contract, which is scheduled to launch in the Q3 of 2021, and ADAX is hoping to take advantage of this development to introduce swapping and staking, ensuring market liquidity, and enabling users to make full use of the network’s capabilities. Our unique protocol is designed to be light and fast, providing a decentralized pricing mechanism that smooths out order book depth.
Check out our website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale.