AdaSwap is a DEX built on the Cardano network with the goal of assisting the Cardano network in becoming an inclusive Defi protocol.
Within seconds, swap, bridge, and trade between Cardano-based tokens and stablecoins.
Through its different on-chain goods, AdaSwap is projected to be able to encourage more and more individuals to use Cardano blockchain with the debut of AdaSwap.
Despite being the most popular blockchain during the boom of the blockchain technology period, Ethereum is losing popularity in the blockchain business.
The blockchain aims to provide an inclusive, fair, and resilient infrastructure by focusing on sustainability, transparency, and scaling usefulness.
However, Cardano still lacks a decentralized exchange (DEX), which means that tokens created on the Cardano network lack a native exchange list or launchpad. As a result, Cardano users still rely on centralized exchanges to trade their tokens.
AdaSwap was created to address Cardano’s major flaw and propel its ecosystem to new heights.
What Is AdaSwap?
AdaSwap will be Cardano’s first native exchange, providing liquidity to projects that develop native assets and a healthy environment.
The platform will function as a decentralized and noncustodial Automated Market Maker (AMM) for liquidity providers, as well as a utility based on the Cardano blockchain technology.
The project will be revolutionary, based on the AdaSwap Free Finance Model (FFM), which will open a new approach not only in the Defi space but also in the finance sector. It will be overseen by well-known members of the crypto community, such as Lennon Qualman, Itay Levy, and Aaron Tait.
AdaSwap Token (ASW)
The AdaSwap token (ASW) is the native utility token of the AdaSwap platform that enables all of the operations in the Cardano ecosystem. It was launched to the public through two rounds of private seed sales.
Because the tokens are also Cardano assets, they may be readily swapped for other tokens on the Cardano network.
Because of the Free Finance Model’s value, the AdaSwap token will be able to generate high returns for holders while also drastically lowering costs (FFM).
As a result, holding AdaSwap token provides users with the ability to easily exchange tokens on the AdaSwap DEX and take advantage of real-time arbitrage opportunities. Furthermore, because AdaSwap provides free services to its token holders, it will save money on transaction fees.
In simple terms, AdaSwap token holders will not be charged a participation fee, transaction fees, or any other fees.
Additionally, airdrops will be sent to ASW token holders.
AdaSwap will deploy four items to begin with in order to reach its ultimate goals.
Decentralized Exchange (DEX)
AMM DEX, token swap, staking pools, yield farming, and FFM will all be available on the DEX.
As previously stated, AdaSwap is the first AMM developed on the Cardano blockchain that allows users to trade cryptocurrency tokens and stake funds in liquidity pools in order to earn fees.
Swapping tokens on AdaSwap DEX will be totally decentralized and non-custodial now that it is powered by AMM.
Users can now trade crypto tokens without handing up control of their assets to the platform. AdaSwap DEX eliminates all middlemen, making token swapping a breeze.
AdaSwap’s approach will rearrange the way users produce and retain wealth because ASW token holders can utilize AdaSwap DEX for free.
The AdaSwap launchpad was created with the goal of creating a decentralized financial environment on the Cardano blockchain. It will address the issue of scams, reduce rug pulls, and safeguard the neighborhood.
To evaluate projects, the AdaSwap Launchpad will look at metrics, the team behind it, use-cases, the roadmap, updates, and business development, among other things.
After passing AdaSwap’s stringent screening procedure, eligible projects will be featured on their platform, giving investors confidence in the projects’ validity.
Investors, on the other hand, will be able to invest in legitimate initiatives because the purpose is to provide all of the greatest tools necessary to assist new creators to thrive while also offering investors and consumers early access to new innovative companies.
Developers of decentralized applications (DApps) will also be able to acquire funding and exchange capital in order to further their initiatives.
AdaSwap will be one of the first NFT marketplaces to offer a limited-edition NFT collection as well as a dedicated NFT marketplace to promote well-known brands.
The AdaSwap NFT project will be launched in two stages, with the first stage launching AdaSwap’s own Graffiti NFT series, which will be exchanged on the AdaSwap App, and the second stage launching the AdaSwap NFT marketplace, which will allow additional people to join and trade NFTs on the Cardano network.
Stake And Forget (S&F)
S&F is a feature that has never been seen on a DEX before.
The functionality will consist of stable, long-term liquidity pools that users can use for staking. The launchpad is tied to this liquidity pool. Non-active traders might profit by investing in Cardano initiatives. S&F will be a game-changing offering that will make AdaSwap users wealthy.
Users will receive not only the usual ROI (APR/APY) while staking in S&F liquidity pools, but also added rewards for stakers wanting to donate cash to projects listed on the AdaSwap Launchpad using the platform’s automatically airdropping tokens feature.
To clarify the automatic airdrop system, projects will be required to pay a small charge to be listed on AdaSwap, which will subsequently be dispersed to S&F liquidity pools. After the staking period has over, the rewards will be airdropped to the S&F liquidity providers.
Despite being one of the most popular blockchain projects, Cardano still has one flaw: it lacks a native decentralized exchange for smooth exchange of Cardano-based tokens, as well as a launchpad to assist Cardano projects in raising funds and accelerating their development.
With its creator and community features, AdaSwap is the next-generation cryptocurrency platform that will make Cardano’s ecosystem easier to utilize. Its long-term goal is to serve as the backbone of the Cardano ecosystem, allowing users to sell artwork, stake tokens, establish projects, and earn interest.
Users will be able to trade native Cardano tokens on the platform for the first time. It will also be the first DEX protocol that will work cross-chain with any ETH token, allowing the token to trade at a higher volume.
AdaSwap is in the top three most looked at crypto projects on ‘Building On Cardano’ at the time after the announcement of smart contract compatibility on Cardano in September, out of 62 high-quality projects mentioned, demonstrating how many people are enthused about the project.
AdaSwap was also included in Coin98 Analytics’ top 20 decentralized exchanges.
COTI, iAngels, Cardstarter, Israeli Blockchain Association, Banter Capital, and others are among the investors who have contributed to AdaSwap’s seed funding round, which will be closed at $ 1.5 million.
AdaSwap is well positioned to grow, with a terrific set of tools and excellent funding. Please go here to learn more about the platform!