Cardaswap is a blockchain-based Cardano Protocol Market Maker and proudly announces that its platform offers several advantages.
Cardaswap DEX is an automatic market maker in the Cardano network. Its trading and monetization functions are based on the AMM protocol. The agreement enables blockchain participants to provide liquidity and Cardano blockchain assets in a liquidity pool so that others can exchange their native tokens. In return, the subscriber pays a small fee for the liquidity and the provider gets his deposit back.
Cardaswap’s Native Token
Cardaswap utility token CADA is a native token that is initially built on the Ethereum blockchain but will be bridged with the Cardano blockchain after the Alonzo hard fork has been successfully completed.
CADA holders can save money and pay less, pawn their LP tokens to grow CADA and also stake CADA for exclusive airdrops, it’s also a native token that allows users to trade multiple assets like ADA and other custom tokens.
It also gives the incentive of yield-farming of the Cardaswap governance token CADA.
Yield-farming is a reward program that was introduced to the DeFi cryptocurrency world last year.
Essentially, yield farming represents a new way of distributing the tokens minted for the DeFI project. Even if all tokens are minted on the market, the tokens are distributed through yield-farming which is more similar to “mining”, meaning that the output of tokens is regulated by smart contracts to gradually increase the circulating supply with time.
Vision and Goals
Cardaswap plans to launch its AMM exchange at the end of the third quarter of 2021, making it the first decentralized exchange on the Cardano blockchain, after which it will be listed on exchanges such as MXC, GATE and Huobi.
Cardaswap is also expanding its NFT market: users can mint and trade NFTs on the Cardaswap NFT market until December. Users who want to test Cardaswap Exchange before starting can visit their website cardaswap.finance and register for TGE.
Once launched, Cardaswap will allow users to trade tokens on the Cardano blockchain, earn exchange fees, pawn LP tokens to cultivate and earn CADA, and access the world’s first public NFT market on the Cardano blockchain and the first IDO launchpad Cardano blockchain on Cardapad.
As the Cardano network continues to add functionality to its blockchain, users can look forward to more innovative functions of the Cardaswap protocol in addition to operational liquidity. Ordinary users will find this very useful in getting rid of the outdated order book arrangement that makes centralized exchanges secondary.