Place/Date: - June 1st, 2021 at 12:29 pm UTC · 4 min read
Contact: ADAX, Source: ADAX
We are bullish on Cardano. There are good reasons why you should be too.
Even as benchmark cryptocurrencies are tumbling down from their all-time highs – Cardano continues to demonstrate substantial gains and rapid expansion within the Decentralized Finance (DeFi) landscape. Its broad community of supporters is highly dedicated for a reason – Cardano’s scientific, evidence-based approach to smart contracts promises to redefine the future of DeFi, ushering in a completely new approach to doing business.
The current proof-of-work consensus design of the Ethereum main-net has been a drag on DeFi growth recently. The speed of 15 transactions per second is too slow, while the fees that can skyrocket to hundreds of dollars per transaction are simply too high. Founded by Charles Hoskinson, a co-founder of Ethereum, Cardano will soon launch smart contract support, uprooting this status quo that will send ripples through the entire world of crypto.
When it does, ADAX will be there, providing a suite of Cardano-tailored DeFi solutions. ADAX will become the powerful trading venue within the Cardano ecosystem, introducing a trustless protocol that facilitates token swaps, non-fungible token (NFT) trading, and broader reorientation of the crypto world towards Cardano.
ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way. ADAX has no order book – we eliminate all intermediaries, complexity, and cumbersome procedures from the equation, offering users untrammeled freedom to trade without censorship or loss of control over their assets. Users can maintain full control of their tokens and are not required to give up their private keys so that their orders can be logged as they are on a centralized exchange. In this way, decentralization is not just about user privacy but also about eliminating the risk of asset loss in an improbable event of exchange security being compromised.
We believe that the ability to adapt to changes in the fast-moving world of crypto is essential. That is why ADAX has expedited its development to coincide with the release of new Cardano functionalities. As soon as Cardano smart contracts launch in 2021 Q3, ADAX will be there facilitating token swaps, 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. 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 – ADAX will amplify the benefits to users within the Cardano network.
The vision of ADAX is nothing less ambitious than becoming the UniSwap of the Cardano network. ADAX seeks to obviate the need for centralized middlemen, paving the way for completely decentralized, censorship-resistant, and secure trading on the Cardano ecosystem. ADAX users will be able to effortlessly execute smart contract-based trades instantly and only at a fraction of the cost of the Ethereum network.
The future of crypto and DeFi projects looks set to be colored in Deep Navy & White – the official palette of Cardano. Cardano is currently at the cutting edge of blockchain innovations. Being based on peer-reviewed research and developed through evidence-based methods, Cardano is widely anticipated to become the new crypto standard-setter. Investors recognize the network’s potential to challenge the embedded status quo of monopolistic and bureaucratic power structures within the world of crypto – to move towards open and inclusive technological standards. The unparalleled security, breakneck blockchain speed and significantly lower transaction fees of Cardano will bring us to a new DeFi era. Because Cardano is being run by a non-profit foundation and offers a myriad of advanced functionalities, we anticipate most future crypto projects will end up choosing Cardano over its competitors.