Alongside several smart contracts launched on Cardano, the network is slowly becoming a home for decentralized exchanges (DEXs). Currently, several DEXs such as SundaeSwap and ADAX are already live on Cardano, but more DEXs are planning to launch on the Cardano network as well. In this article, let’s list the 12 DEX platforms that will be released on the Cardano network in the coming months. Details are on Kriptokoin.com.
Here are 12 DEX projects to be released on the Cardano network
- ADA Finance is the first DeFi ecosystem to introduce affiliate incentives to Cardano and bring transparency by using decentralized price streams to execute liquidations for margin transactions on ADAFi Swap. Every transaction on ADA Finance takes place in Cardano and is overseen by a number of partners.
- AdaSwap will act as an automated market maker (AMM), providing a unique decentralized and unsupervised market maker solution for liquidity providers.
- DOEX allows users to exchange Cardano-based cryptocurrencies with each other.
- With Cardax, traders can exchange any Cardano-based crypto for another asset in a few clicks. Cardax users can also implement liquidity sensitive automatic pricing using the project’s automated market maker (AMM) protocol.
- Ardana, the all-in-one stablecoin hub powered by Cardano. The platform can be used for trading as well as borrowing. Using the borrow feature allows users to borrow stablecoins against their locked Cardano-based assets.
- ByronDex, ADA-based DEX platform. The developers of the project integrate the features of other centralized exchanges into the platform, such as stoploss, limit, stop market and other common order types.
- Matrixswap is a decentralized, virtual AMM-based permanent swap trading protocol published on Polkadot and Cardano and Polygon Blockchains. It offers a DEX aggregator with multi-token swaps that allows users to aggregate multiple tokens under a single transaction.
- Minswap, multi-pool decentralized exchange. Users can exchange tokens with minimum cost, minimum time and maximum convenience through Minswap.
- MuesliSwap DEX launched the DEX platform on the ADA network and was the first among many competitors to jump into this new era of DeFi in Cardano. With MuesliSwap, a new approach to modeling and implementing a DEX in Cardano is proposed by rethinking the traditional ledger model.
- Ray Network offers an advanced ecosystem for the Cardano platform. Their aim is to prepare the best multifunctional DeFi ecosystem for the network. XRAY is a governance token that powers the Ray Network ecosystem.
- MeowSwap offers a proprietary L2 scaling technology to deliver its trading solution running on the Cardano network.
- OccamX aims to be the leading DEX for Cardano by providing the ultimate trading app and a list of financial services. OccamX’s goal is to become the main trading platform for decentralized spot and derivatives trading, with major cryptocurrencies being marketed on the platform.
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