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Date:
23rd Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Cardano is Developing Cardax, a DEX on the Peer-Reviewed Platform

A DEX on Cardano, Cardax, will soon launch after its development team received $50k from Project Catalyst. Cardax will tweak the popular AMM model to deploy a slight variant called the EAMM. Still, once activated, it will be the first DEX in the network coming a few weeks after the activation of Mary HFC.


Details: 

Cardano is working on smart contracting and DeFi, from which Cardax will immensely benefit. Presently, projects can mint native assets. However, Goguen opens more opportunities allowing trustless trading of assets with proper incentivization. Smart contracting from a scalable, secure network where projects would eventually choose not to pay in ADA but in their native assets would be a game-changer.


Impact on ADA Prices: 

Bullish. Cardano is different because of its approach to blockchain and scalability. Cardax is one of the many projects that Project Catalyst now funds. All merge to steady ADA that's already over 10X year-to-date.


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