Cardaswap when launched will be a fully decentralized AMM (Automated Market Maker) trading protocol on the Cardano blockchain.
When launched, the Cardaswap protocol will allows users and Crypto Enthusiasts to to provide liquidity for native tokens on the Cardano blockchain thereby enabling others users to trade ADA for any other Cardano Native Token.
In return, users pay a small fee for liquidity, and the vendors earn their deposit back.
Why We are Building On The Cardano Blockchain
The Mary hard fork on March 1st 2021 allowed anyone to build and deploy native assets on Cardano Blockchain.
Native tokens bring multi-asset support to Cardano, allowing users to create custom tokens and carry out transactions with them directly on the Cardano blockchain.
This, together with the upcoming release of Goguen (smart contracts on Plutus), will allow teams to build decentralized applications on Cardano. It will also allow projects that already exist on Ethereum to start migrating to Cardano.
This is, of course, great news but it also presents a new challenge since there is currently no decentralized exchange (DEX) on Cardano. So tokens built on the Cardano network don’t have a ‘native exchange’ to list yet.
The Cardaswap Solution
That is the problem Cardaswap wants to solve. Cardaswap aims to be the biggest exchange for the Cardano ecosystem.
Cardaswap aims to be a fully community-owned and DAO governed Defi protocol in the long run.
What makes Cardaswap Different From Other Dexes?
- 100% on-chain and 100% non-custodial trading allowing anyone to become a market maker by either starting a liquidity pool or participating in an existing one.
- Cardaswap DEX will allow users to trade any Cardano native token for ADA or a native token for another native token on the Cardano Blockchain.
- Become a liquidity provider on the Cardaswap and earn passive income from the transaction fees.
- With Cardaswap Create LP, token issuers can create a new pair without the need of a big amount of capital to serve as collateral.
To read more about the Cardaswap Technical Details, please read our litepaper here.
Does Cardaswap have A Utility Token?
Yes, Cardaswap token is $CADA. Liquidity providers will be paid in $CADA tokens.
We are planning to go live right after the Alonzo hard fork. The specific date depends on when Cardano will release the Alonzo hard fork to mainnet. We expect that to happen in August 2021.
Our Token offering to early adopters is Live Now.
You Can Buy $CADA Tokens at the Cheapest price possible now.
- Seed Round Closes 20th September 2021*
- Cardaswap Team
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