London, UK, Aug. 29, 2021 (GLOBE NEWSWIRE) — Cardaswap, a blockchain-powered market maker on the Cardano protocol is proud to announce its platform offering variety of advantages. Since the inception of Cardano and its token $ADA, the project has gained massive traction; thus, attracting the attention of crypto investors within the past few days.
This popularity may not be unconnected with the upcoming Alonzo hard fork and the successful launching of Alonzo Purple. This development will usher in Cardano’s smart contracts in September.
What is Cardaswap?
Cardaswap is a blockchain-powered market maker on the Cardano protocol. Cardaswap’s monetization and transaction features are developed on the AMM protocol, which allows liquidity providers to pool in their funds and Cardano Blockchain Assets to the pool, so that others can easily exchange their tokens. Subscribers will in turn pay a fee to enjoy the liquidity. Also, the vendors will earn their initial capital back.
Native Token Of Cardaswap
Cardaswap has a native utility currency with the symbol “$CADA.”
Token holders will be able to purchase goods and services on the Cardaswap protocol, pay less fees, and save money. $CADA holders will also be able to stake LP tokens to farm $CADA. That’s not all; token holders can stake their $CADA tokens to participate in exclusive airdrops and carry out transactions in a wide range of multi-assets, including ADA and other custom tokens.
Yield Farming Program
Yield Farming was introduced as a reward program in the decentralized finance space. Yield Farming is a token distribution method for a DeFi project after tokens have been minted. Yield Farming is also similar to crypto mining, meaning that the distribution process is regulated by smart contracts. Smart contracts guarantee an increase in the circulating supply with time.
The Vision and Goals Ahead
The team at Cardaswap intends to launch the Automated Market Maker (AMM) at the end of the third quarter of 2021. Once they successfully launch the AMM, Cardaswap will become the first DEX on the Cardano blockchain. The team will then list the token on big exchanges like Huobi, GATE, and MXC.
Plans are also in place for the team to launch the Cardaswap NFT marketplace in December. The Cardaswap NFT marketplace will enable digital content creators to mint and trade their collectibles to make passive income. You can visit the Cardaswap official website and enrol for the TGE to test the functionality of Cardaswap Exchange before the scheduled launch.
Cardaswap will enable users to stake LP tokens and earn $CADA, earn swap fees, and trade tokens on the Cardano blockchain. The project will also grant you access to a public NFT marketplace on Cardano blockchain, as well as access to Cardapad, the world’s first IDO launchpad on Cardano blockchain.
Users can expect more features on the Cardaswap protocol as the network continues to grow and gain traction. Users will find the new features helpful, as it will be a shift from the traditional order-book arrangement that has bedeviled centralized exchanges.
Cardaswap is similar to Ethereum’s Uniswap, in that it is also a decentralized exchange. However, unlike Uniswap, Cardaswap runs on Cardano Blockchain. The cardaswap.finance ecosystem is managed by a Cayman Island-based association. The association is a team of experienced and knowledgeable blockchain experts with vast years of experience in the Fintech industry.
When the ecosystem gains traction, a decentralized autonomous organization (DAO) will then steer and govern the protocol. Cardaswap is a first-of-its-kind decentralized project that’s designed for the Cardano protocol. Users can earn, swap, and build on the Cardano blockchain. Cardaswap allows crypto enthusiasts to trade any native token for ADA on the Cardano blockchain.