This Is How Cardax Is Set To Become A Top DEX On The Cardano Ecosystem

Cardano and its ecosystem have been implementing major improvements since Q4, 2020, and across 2021. Its users, stake pool delegators, and the company behind its development Input-Output Global (IOG), under the leadership of Charles Hoskinson, have been particularly focused on expanding Cardano’s smart contract capabilities.

Thus, the successful implementation of three Hard Fork Combinator (HFC) events, dubbed “Allegra”, “Mary”, and “Alonzo” have opened an endless field of possibilities for Cardano. Cardax, a decentralized exchange and automated market maker (AMM), built for this network is one of the many projects seeking to leverage Cardano’s new capabilities as the ecosystem moves to fulfill a vision of decentralization, financial inclusion, and sustainability.

Supported by the Cardano community via the ecosystem’s crowdfunding program Project Catalyst, Cardax is one of the AMM on this network aiming to provide its users with a secure and reliable product. On Ethereum, hackers have taken millions from users by leveraging security flaws.

The AMM on this network will fully support Cardano’s native token capabilities by allowing its users to trade with these digital assets, to trade with different native tokens in a single transaction and become liquidity providers with the Extended Automated Market Maker (EAMM) protocol.

These features make Cardax a more efficient, cost-efficient, and secure product set to compete with Uniswap, SushiSwap, PancakeSwap, and other AMMs in the industry as it will offer users unique functionalities. This will include the capacity to trade via Cardano’s Yoroi wallet, and liquidity provides the ability to earn fees collected on the platform.

source: U.today