ADAX, the first order book-based decentralized exchange with censorship-resistant transactions on Cardano, is live. The launch follows a strong week of recovery for the crypto markets, as big players like Cardano and Solana push forward into the next generation of blockchain activity.
ADAX Launch on Cardano
According to a press release on January 30, the release is a massive milestone for ADAX developers. The team has been actively working on the project for over six months.
It is also yet another huge addition to the Cardano DeFi ecosystem, whose total value locked is picking up rapidly after activating smart contracts in late September 2021, with the Alonzo Upgrade officially concluding the Goguen Phase.
According to trackers, over $70 million of various assets are under management in different DeFi protocols in the peer-reviewed energy-efficient blockchain. With the inclusion of ADAX, Cardano’s TVL would continue surging. More traders would focus on Cardano, scooping various native tokens released by high-profile projects launching on the network.
Traders to Access Stockgeist’s Sentiment Analysis Tool
Notably, ADAX has already partnered with several noteworthy partners to benefit users to create a fulfilling experience. Their deal with Stockgeist.ai will see the DEX offer a revolutionary trading tool for users to dynamically readjust their positions and portfolios based on social sentiment. This addition is helpful because, unlike other markets, cryptocurrency is heavily influenced by hype like FOMO and FUD, which often impact asset prices.
Stockgeist.ai is an innovative platform for monitoring the popularity of tradable assets through textual information scraped from leading social media portals like Twitter and Facebook. The sentiment analysis tool uses “AI deep learning-based solutions”. It would now be accessible to traders, helping them make better investment and trading decisions.
Top-Tier Partnerships and Integrations
Furthermore, ADAX is integrating Charlie3—a decentralized oracle solution for Cardano, Web Mobile—a telecommunication infrastructure provider, VyFinance—a DeFi protocol with a yield auto-harvester and a neural network, BlackDragon, and Netvrk.
ADAX has also integrated the Nami Wallet for more fluid operations. It is a leading browser wallet with multicurrency support for the Cardano network. While Nami Wallet is popular, ADAX will present other options to traders, including the future addition of GeroWallet and CCVault.
By collaborating with other protocols and projects, ADAX is helping create a symbiotic system that directly benefits Cardano, whose DeFi ecosystem is relatively nascent.
Concentrated Liquidity in an Order Book DEX
ADAX aims to differentiate itself by offering unique features to traders. The fusion of concentrated liquidity will immensely benefit liquidity providers and traders.
Specifically, liquidity providers stand to earn more rewards by supplying within a given price range and not across the entire price range as typical in most AMM-DEXes. Subsequently, there is higher capital efficiency due to the better asset allocation, deepening the DEX’s liquidity and boosting trader experience.
Besides, ADAX’s transactions will be executed cheaply, on-chain, ensuring censorship-resistant on an intuitive, easy-to-use interface. Transactions will be split into smaller UTXOs to prevent congestion and minimize concurrency. The team has released a proprietary PAB solution using Plutus smart contracts to further boost decentralization.