MarketersMEDIA / Newsroom / Cardaswap.finance wants to be Uniswap of the Cardano Blockchain
Cardaswap, a blockchain-based market maker on the Cardano protocol, is proud to announce its platform with a variety of benefits.
London, UK – August 30, 2021 – The crypto industry is growing rapidly as many options get past ATH, including $ ADA, a Cardano-based blockchain ecosystem. It is after the very successful launch of Alonzo Purple and the upcoming Alonzo Hard Fork that will usher in the introduction of smart contracts for Cardano in September.
What is Cardaswap?
Cardaswap DEX will be an automated market maker in the Cardano Network. Its transaction and monetization functions are based on the AMM protocol. The protocol enables blockchain participants to provide liquidity and Cardano blockchain assets in the liquidity pool so that others can exchange their native tokens. In return, subscribers pay a small fee for liquidity and sellers get their deposit back.
Cardaswap native tokens
Cardaswap Utility Token $ CADA is a native token that is initially built on the Ethereum blockchain, but is later bridged with the Cardano blockchain after the successful completion of the Alonzo hard fork.
$ CADA holders can save money and pay fewer fees, use their LP tokens to farm $ CADA, and also use $ CADA for exclusive airdrops while being a native token that allows users to conduct transactions with multi- Transact assets like ADA and other custom tokens.
It also provides the incentive for earning the Cardaswap governance token $ CADA.
Income farming program
Yield Farming is a reward program that was introduced in the DeFi crypto world last year.
At its core, yield farming is a new way of distributing tokens that were minted for a DEFI project. Mining, “which means that the issuance of tokens is regulated by smart contracts in order to gradually increase the circulating supply over time.
The vision and the goals ahead of us
Cardaswap plans to launch its AMM exchange by the end of the third quarter of 2021, making it the first decentralized exchange on the Cardano blockchain, after which it will begin its listing process on exchanges such as MXC, GATE and Huobi.
Cardaswap is also working on their NFT marketplace, from which users can mint and trade NFTs on the Cardaswap NFT marketplace through December. Users who would like to test Cardaswap Exchange before launch can visit their website cardaswap.finance and register for the TGE.
Upon its launch, Cardaswap will allow users to trade tokens on the Cardano blockchain, earn swap fees, farm LP tokens and earn CADA, as well as access to the world’s first public NFT marketplace on the Cardano blockchain and Cardapad , the first IDO launchpad on Cardano blockchain.
As the Cardano network continues to add functionalities to its blockchain, users can expect further innovative functions of the Cardaswap protocol in addition to the fluidity of operation. This is something that the average user will find very helpful as they step away from the outdated order book regime that has kept centralized exchanges in the background.
CardaSwap is a decentralized exchange that is similar to Ethereum’s Uniswap, but the difference is that it runs on Cardano BlockChain instead. The cardaswap.finance ecosystem is administered and maintained by the Cardaswap Association, an organization based in the Cayman Islands.
When the cardaswap ecosystem grows sufficiently, the protocol will be managed and controlled by a carefully designed decentralized autonomous organization (DAO). Cardaswap is one of the first decentralized launchpads designed for the Cardano ecosystem.
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