Place/Date: - December 14th, 2021 at 12:14 pm UTC · 4 min read
Contact: AdaSwap, Source: AdaSwap
AdaSwap, an ecosystem builder that will establish the first decentralized exchange on the Cardano network, is launching a token sale on Cardstarter to raise funds from supportive investors and drive sustainable growth of its platform.
AdaSwap is allocating 80 million ASW tokens priced at $0.005 each for the sale as it seeks to raise a total of $400,000. The allocation will be vested in one installment, with 50% released at TGE and 50% one month later.
The fund raise is intended to help AdaSwap deliver on its ambition of building the first DEX on Cardano, one of the most popular blockchain projects for decentralized application developers. Cardano’s native token ADA is currently 6th cryptocurrency by market cap, yet despite this it lacks a native DEX or DeFi ecosystem, meaning users must rely on centralized exchanges to buy, sell and swap the tokens.
AdaSwap will solve this by creating a native and gamified DEX for the Cardano network that will serve as a platform for users to easily swap Cardano-based tokens. In addition, AdaSwap will fashion a native NFT marketplace, and fixed, long-term, high-yield liquidity pools. With these applications, AdaSwap users will be able to stake tokens, buy and sell NFT artwork and earn high interest on their investments. In order to build a better financial system, AdaSwap will stop focusing on higher liquidity locks, and start focusing on what really matters: users
AdaSwap possesses a first-mover advantage on Cardano, enabling it to create a micro-ecosystem that will help the world develop and use the Cardano Blockchain.
The AdaSwap (ASW) token is the native cryptocurrency of the AdaSwap platform that will be used to power various functions within the Cardano ecosystem. ASW tokens are a Cardano-native token, making them easily interchangeable with all other Cardano-based tokens. ASW token holders will be able to swap tokens on the AdaSwap DEX, leverage arbitrage opportunities in real-time and save on transaction fees via a Free Financial Model where no participation or transaction fees are applied.
Brandon Kazakoff, COO of Cardstarter, said:
“In order for the potential of the Cardano ecosystem to be realized, concrete realities must be brought into alignment with the Cardano ethos. It is incumbent on all those who share this ethos to extend our support to the builders, creators, and projects working to lay down the infrastructure of decentralized finance on Cardano. I believe that ADAswap has an important role to play in this regard. The ecosystem is rapidly taking shape, and I am more confident than ever that the future of DeFi is bright, close at hand, and built on Cardano.”
ASW tokens have generated huge discussion on channels such as VoskCoin and Banter Capital, whipping up tremendous enthusiasm ahead of its launch on Cardstarter, a decentralized project accelerator that helps new projects launch IDO token sales on the Cardano blockchain.
With its goal of connecting early stage Cardano innovators to a community of donors, Cardstarter is an ideal launchpad for ASW. It allows investors to participate in low-risk opportunities to invest in projects built on the Cardano blockchain, backed by the Cardstarter insurance treasury.
Itay Levy, CEO of AdaSwap, said:
“A launch pad is a very important starting point for the lifecycle of any project, it establishes the base for which strong beams must be built upon. At AdaSwap, we have chosen the best launchpad for the strongest of bases. We are really excited to be working with cardstarter inorder to bring AdaSwap to the world!”
To participate in the sale, users should head over to AdaSwap website for more details. To participate in IDOs on Cardstarter, investors must first stake CARDS then register for the Live IDOs they wish to participate in.
AdaSwap is an ecosystem builder aiming to create the first decentralized exchange on the Cardano network. The AdaSwap DEX will make it easy to swap cryptocurrency tokens, create, buy and sell NFTs, launch new projects and stake funds in liquidity pools to earn fees on the Cardano blockchain.