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At this point, when we are deep into the crypto market, we can proudly say that cryptocurrency has gone mainstream in the whole world.
And as we become more immersed in the cryptoverse, we all have noticed that most of these digital coins and blockchain projects are all attempting to solve different problems, which, in my view is a fantastic thing.
However, we often overlook the undervalued gems like Paribus that are attempting to solve real-world problems, and if you closely observe then you have realized that not only are they attempting to solve real-world problems, but they are all racing to see who can solve them first.
In this article, we'll learn about one such race that aims to become the decentralized exchange of Cardano, the world's fourth-largest cryptocurrency by market cap.
And one player that is one step ahead of the rest is - ADAX.
What is ADAX?
ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized way. ADAX is trying to eliminate all the intermediaries, complexity, and difficult procedures from the equation. Users maintain full control of their tokens and do not require to give up their private keys.
In simple language- the goal of ADAX is to be the Uniswap of Cardano "Dex of Crypto".
And to become that, ADAX is trying to remove the middleman from the equation and trying to give a way of completely decentralized, censorship-resistance, and secure trading on the Cardano ecosystem.
Because Cardano is poised to become the next crypto trend-setter.
Cardano is currently on the cutting edge of blockchain innovation and its unrivaled security, breakneck blockchain speed, and significantly lower transaction fees will bring about a new DeFi era in the near future.
And that’s the reason developers chose Cardano.
Advantages to ADAX over Uniswap on the very first day of its launch
It will have lower gas fees,
There will be more predictable gas fees,
And it will provide higher transactions per second as compared to others.
Solving Market Problems
ADAX is solving three main problems,
Market – ADAX designed a tool called the ERC-20 converter. Those who want to convert their ERC-20 tokens into Cardano can now convert their ETH tokens in just a few clicks, and when these tokens are moved across, they will be translated into a special native token on Cardano that has the same value and works just like an ERC20 token.
Liquidity stress- The main problem of liquidity pools is their constantly changing ratio which causes less rewards and impermanent loss. ADAX is working on a different model that will address these concerns.
Fees are the most attractive part of the ADAX,
ADAX will receive only 0.3% as a swap fee in which
0.175% goes for the taker
0.125% goes for the maker
And all fees go straight to liquidity pools, there are no platform fees.
Timo Trippler is the CEO of ADAX. He is an experienced consultant for blockchain projects. Currently, he is also the CEO of blockSmart Consulting and a member of the board of advisors committee.
Dovydas Petkiviciou is the Chief marketing officer at ADAX. he has skilled in digital marketing and brand management.
Muhammad Furqan is the Chief Technology Officer. He has 10+ years of experience in software architecture and development.
ADAX has its native wallet that allows you to store your crypto and allows for sending and receiving of crypto transactions.
ADAS has done a lot of Wallet integration pairings, that will work with it upon launches such as Gero / Cardswallet / Yoroi and more to come.
Staking is a way to put your cryptocurrency to work and earn some rewards on it. Every mainstream cryptocurrency has its own staking program like Bancor, VeChain, etc. ADAX has also launched its own staking program.
Pools in ADAX payout 0.044% ADAX rewards per day it is the amount for pool 1 and pool 2 pays out 0.033% ADA rewards per day.
There is no locking period for your staked coins, and currently, they are only able to do off-chain on Exmarkets until their product launch.
Right now at this moment, about 2/3rd of all coins in circulation are being staked.
The token distribution of ADAX is one of the balanced distributions of all time.
In total there will be 100 million tokens minted in which,
The team receives 10%,
10% is for liquidity of the DEX,
15% for staking,
25% in the treasury and for the private sale that occurred in early June 2021,
40% public distribution,
Current market cap
The price of ADAX is around 0.5 USD at the time of writing. It is rising at a steady rate, and the market cap is around $28 million
Over time it has made several partnerships with the best projects to maintain its upward trajectory and to gain the services of various domains for its development. Some of them are:
Charli3 - is the oracle solution for the Cardano network.
Netvrk - is the leading decentralized Virtual Reality platform.
GeroWallet - it is the inclusive, DeFi non-custodial wallet.
VyFi - it is building an Automated Market Maker (AMM) in Cardano.
Matrixswap - it is a decentralized AMM-based exchange deployed on Polygon, Polkadot, and Cardano.
ADAX is the most anticipated project of Cardano and they have projected to launch it in Mid to late November 2021.
ADAX is one of the fastest-growing communities in all social media.
Right now, around 21k people are following it on Telegram, it has booming Discord, Reddit, Youtube, and Twitter following that are continues to grow.
Future plans for revenue after DEX launch
The future plan of ADAX is the most ambitious.
ADAX plans to become a launchpad for future Cardano projects like UBIX, as well as become a solution for all DeFi projects.
It will have an ERC-20 bridge in Q1 of 2022 that will make swapping all of your favorite ETH tokens at low gas fees a possibility into a special native token on Cardano that has the same value and works just like an ERC-20.
Is ADAX a good investment?
ADAX is vying to become Cardano's Uniswap-like decentralized exchange. Honestly speaking, there are several players in the field, but the chances of becoming ADAX the first Cardano dex are extremely high.
And, if you believe in the crypto market, you are aware that people seek out undervalued gems, so holding ADAX is a great long-term investment. But, as I previously stated, do your own research.
Where can I invest in ADAX?
Right now it is tradable on Exmarkets, and more centralized exchanges are to come soon now.
How to buy ADAX?
ADAX is tradable in Exmaarkets, So, you can buy it from Exmarkets in exchange for its native token MKS.
Should I buy ADAX?
If you want to gain on ADA, the native token of Cardano then you should buy ADAX for long-term gain.