As concerns around the use of the Ethereum blockchain rise, many have turned to the Cardano Ecosystem as a solution to the increasing fees and slower transactions that have resulted from the influx of users. ADAX founders have recognized Cardano for its scientific approach to smart contracts, which are believed to redefine the future of DeFi, with a new approach to doing business.

As a result, ADAX is stepping up to provide a suite of Cardano-tailored DeFi solutions and a trading venue that facilitates token swaps, NFT trading and more.

The team behind ADAX shares that the end goal of this project "is simply to create a benchmark of a liquidity/swapping solution that the Cardano community could easily adopt and re-used for future projects.

The platform aims to achieve this vision by using a trustless protocol to conduct censorship-resistant token swaps while leveraging social-sentiment-based trading tools.

Since the platform is fully decentralized, users also maintain full control of their tokens. This feature can be compared to a centralized exchange, where users must give up their private keys to be managed by the platform.

Other features the ADAX founders highlight are:

The ADAX platform strives to follow industry best practices to ensure the user experience is frictionless and easy to use.

ADAX enables users to execute smart contract-based trades both instantly and cheaper than the Ethereum network. Without using an order book, the platform removes all intermediaries and complex procedures from the process.

A partnership with Stockgeist.AI, a market sentiment monitoring platform, allows ADAX traders to adjust investments based on early signs of social sentiment. Data is collected from social media sites like Twitter and Discord to determine which tokens are gaining traction and which are losing.

Widespread wallet integrations include the full support of Yoroi, GeroWallet and CardsWallet, and several additional API-based integrations on the horizon.

Compared to most liquidity pools, the ones on ADAX do not rely on constantly shifting ratios, with impermanent loss common in low-volume assets. These factors result in undercutting early liquidity providers' risk and reward-based justification.

The ADAX initial exchange offering (IEO) occurred in June 2021 on ExMarkets.com, one of the first platforms to implement Cardano native token support. The team shares that this IEO was "tremendously successful," as was their oversubscribed private sale.

More is in store for the platform, as ADAX continues to leverage strategic partnerships, working with Mate Tokey, one of the co-founders of Bitcoin.com, and Roger Ver, who many know as 'Bitcoin Jesus.' Other efforts to increase the platform's reach have included partnerships with Black Dragon and Charli3, the decentralized open-source oracle for Cardano. These partners have acted as marketing, innovation and technological partners.

Other notable relationships include GeroWallet, a Cardano WAllet, and MELD, a non-custodial banking protocol.

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One decentralized exchange is positioning itself as the UniSwap of Cardano with a suite of Cardano-tailored DeFi solutions - Cointelegraph