Since the inception of the Cardano (ADA) blockchain, the blockchain has amassed a lot of limelight in the crypto space mainly due to the rollout of the feature like Alonzo Purple. Now, it is also expecting to launch smart contracts in its network.
Cardaswap, a decentralized crypto exchange platform would become the next Uniswap of Cardano blockchain. It is planning to launch its Automated Market Maker (AMM) exchange in the Q3 of 2021. Thus, becoming the first decentralized exchange in the Cardano network.
What is Cardaswap?
Cardaswap is a fully decentralized blockchain-powered market maker trading protocol that runs on Cardano. It will enable blockchain enthusiasts to provide liquidity in the liquidity pool on the Cardano blockchain so that subscribers can trade their native tokens for liquidity. All the subscriber needs to do is to pay a fee for the liquidity that will help the vendors get their deposit back.
$CADA – Cardaswap’s Native Token
Initially, Cardaswap will build its native token on the Ethereum (ETH) blockchain and later link it to the Cardano blockchain.
Users holding the native token will be able to save money, stake LP tokens to farm, and also stake $CADA for crypto airdrops.
Caraswap’s Future Goals
By December 2021, the exchange is planning to launch its NFT (Non-Fungible Tokens) marketplace where the users will be allowed to mint and trade NFTs. This marketplace would be the first public NFT marketplace in the world on a Cardano blockchain. Also, the users will get to know about Cardapad which will be the first IDO launchpad on the Cardano blockchain.