This Is How Cardano’s First DEX Will Try To Disrupt DeFi

This Is How Cardano’s First DEX Will Try To Disrupt DeFi

As Hard Fork Combinator (HFC) “Alonzo” approaches, more DeFi projects are emerging for Cardano. A few days ago, Input-Output Global (IOG) Marketing and Communications Director, Tim Harrison, said there is a “huge” interest from developers towards the platform and its smart contract capabilities.

In that sense, a team of developers led by Ryan Morrison from Quant Digital launch Cardax. A project conceived to be Cardano’s first decentralized exchange. According to an official post, the project is seeking $50,000 to finance the development of Cardax. The proposal has been made via Cardano’s Project Catalyst Fund 4.

Morrison is a stake pool operator on this network with a background in marketing. His team is formed by “crypto enthusiasts” with experience working on projects like Celsius, Open Ocean, and Bitcoin EU, per the official post. They have set out to build a DEX with the following characteristics:

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Cardax is a decentralized exchange that will be powered by the Extended Automated Market Maker

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