ADAX v1 is now live on Cardano. It now forms part of the network’s burgeoning DeFi ecosystem less than five months after the activation of smart contracting in late September 2021. ADAX Launches an Order Book DEX on Cardano Details on January 30 reveal that ADAX is a “core piece of infrastructure that’s critical to the long-term prosperity of the Cardano ecosystem.” The ramp introduces new features that stand out from other live and upcoming DEXes. ADAX is a custodial and order-book-based decentralized exchange designed to fit into Cardano’s unique architecture. The DEX incorporates smart contracts built using Plutus for decentralization and to ensure instant and smooth transactions for all users. The DEX’s codes are secure, deriving its security from the developing team’s expertise and the decentralization of Cardano. The network is the most decentralized Proof-of-Stake consensus algorithm blockchain comprising over 3.3k staking pools. This follows the activation of the Shelley Phase in 2020, allowing the creation of staking pools following months of testing. Cardano DeFi is Growing Currently, Cardano has a total value locked of over $70 million and comes a few days after the deployment of a competing DEX, SundaeSwap. At this level, Cardano trails other networks that have been in operation for years. The most dominant network for deploying DeFi dApps is Ethereum. It commands over $109 billi...
