What is ADAX? – Asia Crypto Today

ADAX is a non-custodial, decentralized automated liquidity protocol that supports trading within the Cardano ecosystem. ADAX does not have an order book; cryptocurrency aims to remove all intermediaries, complexity, and time-consuming procedures from the equation.

It gives users complete freedom to trade without censorship or loss of ownership of their assets. Users maintain full ownership of their tokens and are not required to give up their private keys in order for their orders to be registered on a centralized exchange.

The ERC20 converter is a tool that token issuers (organizations that want to migrate their tokens to Cardano) and its users (token holders) can use to migrate their ERC20 tokens to the Cardano network. The network allows users to convert their Ethereum tokens with just a few clicks. Once transferred, these tokens will be ‘translated’ into a unique native token on Cardano with the same value and functionality as an ERC20.

Cardano supports two-way convertibility, so users can burn their Cardano to move their tokens to the home network if they want to later. Cryptocurrency burning occurs when a fraction of tokens are transferred to a wallet without a private key.

Cardano is expected to become the next standard-setter in the world of cryptocurrencies. Traders realize the network’s ability to threaten the crypto world’s embedded status quo of monopolistic and bureaucratic power structures.

The ADAX protocol is meant to be lightweight and fast, with a decentralized pricing mechanism that smoothes the depth of the order book. ADAX has a staff with a proven track record of success in numerous cryptocurrency businesses. ADAX enhances the benefits of the Cardano network by providing in-depth insights, actionable insights, and industry best practices.

Cardano ecosystem

Cardano was founded in 2017 by Charles Hoskinson, co-founder of Ethereum, and Jeremy Wood. The network is developed by Input Output Hong Kong (IOHK). The blockchain’s native currency, ADA, powers the network’s transactions and is equivalent to ether on the Ethereum network. He is known for his steady and methodical approach to development.

Cardano has thrived on recent development updates, enabling decentralized applications (DApps) and the expansion of decentralized finance (DeFi) in your network. The advantages of the network (high performance and low costs) suggest that it can be a perfect testing ground for DeFi.

Timo Trippler founded ADAX and has served as CEO since its inception in June 2021. Trippler is a skilled entrepreneur with a background in FinTech and InsurTech. He is an ICO advisor with an incredible track record of successful ICO ventures. He is also a specialist in financial markets and risk management. He has been working in the blockchain business since 2015, providing strategic and marketing advice.

The rest of the ADAX team is made up of seasoned experts in the crypto industry who have chosen to apply their knowledge of ETH to the Cardano ecosystem. among members of this cohort.

Associations and main characteristics of ADAX

ADAX has multiple features that set it apart from its competitors on other cryptocurrency networks. These features include an ERC-20 token converter, a different type of liquidity pool architecture, and social sentiment analysis. Here is an overview of the features:

  • Social Sentiment Trading Tool
  • ERC20 token converter
  • Seamless wallet integrations
  • Deep pools of liquidity

ADAX is a completely decentralized service that provides clients with a Cardano ERC-20 converter and the native ADAX currency. This provides a seamless cross-chain experience.

ADAX has partnered with stockgeist.AI to allow traders to evaluate their investments based on changing social sentiment indicators. Using social media analytics data, merchants will be able to find out which tokens are popular.

Liquidity pools on ADAX are unique in that they do not suffer from the all too common problem of low liquidity compared to many competitors. Liquidity pools in various DEXs are based on fluctuating indices. This could result in temporary losses on low-volume assets, often undermining the rewards earned by liquidity providers.

The Cardano community reacted enthusiastically to the ADAX liquidity protocol. ADAX DEX had an extremely successful Initial Exchange Offering (IEO) on ExMarkets and an oversubscribed private sale round. 14 million ADAX tokens were sold for 0.30 USDT each at the IEO.

Since ADAX follows the AMM concept, it does not require order books. According to the team, their liquidity pool concept reduces temporary losses. Another important feature of the ADAX exchange is that all ADAX exchange fees go directly to the liquidity pools. There are no network charges.

The ADAX team also formed alliances with Charli3 and BlackDragon. It also garnered endorsements from some of the most prominent crypto players such as Roger Ver and Mate Tokey (co-founder of Bitcoin.com).

ADAX aspires to be the ultimate unified exchange on the Cardano network, integrating numerous crypto wallets. The DEX will be fully compatible with Yoroi and GeroWallet, and numerous API-based interfaces will be added in the future.

How does it work?

ADAX employs an AMM concept similar to that of Uniswap. Instead of using order books to match buyers and sellers, dealers use smart contracts to execute trades. Stable liquidity pools provide liquidity for these smart contracts. These pools use decentralized pricing algorithms to balance order book depth.

ADAX is comparable to other AMMs in most respects, but its richness stems from the additional features it provides. This includes, as stated above, social sentiment analysis and the ERC-20 token converter. Not to mention the fact that it runs on Cardano, a higher performing blockchain network.

Why should you use Cardano?

Because ADAX DEX is based on Cardano, it promises to offer cheaper costs than Ethereum exchanges. Additionally, the platform will benefit from faster transaction speeds and better performance.

Ethereum-based decentralized applications (dApps) use ETH as the currency for transaction fees. Despite being the second largest cryptocurrency by market cap, ETH remains volatile, with prices fluctuating more than gold or traditional stocks, as is characteristic of the crypto market. However, the price of ETH is quite stable compared to small-cap cryptocurrencies. As a result, ETH is in high demand because most dApps host their platforms on Ethereum and require ETH to interact.

Cardano (ADA), the third largest cryptocurrency by market capitalization, is now firmly established as one of the top five cryptocurrencies. The Cardano development community is large, diversified, and enthusiastic about the project. The performance of ADA prices in recent months seems to reflect this.

How can I buy ADAX?

Since ADAX is based on the Cardano blockchain, there are currently not many exchanges to buy the ADAX token. At the moment, ADAX is exclusively available on the ExMarkets marketplace. However, it is expected to be listed in more exchanges shortly.

final thoughts

Many other DEXs experienced exponential growth in their first few months. However, the market is no longer what it was a few months ago. DEX will be as profitable as it has been in the past. However, the acceptance of the ADAX platform is highly dependent on the success of Cardano.