Amsterdam, Netherlands The, 16th Sep 2022, Cardax, a decentralized DEX, is stepping away from building solely on the Cardano blockchain. The team has decided to shift gears and is now building on Milkomeda to reach a much bigger market. This will allow users to trade coins that already have a very strong demand such as Bitcoin and Ethereum. It will also allow users to trade stablecoins like USDT and USDC.
Ryan Morrison, founder and CEO of Cardax says: “We’re really excited for this new step. Our goal just got much bigger as Cardax will be competing to be a major player in the entire crypto space, not just the Cardano space. This doesn’t mean that we are turning our backs on Cardano, quite the opposite. We will be opening the wide gates of already-established trading of Bitcoin, Ethereum, Tether, Binance chain and others to swap for Cardano native tokens and vice versa. This is massive for the Cardano ecosystem”.
Cardax aims to make this a reality by making use of the technology Milkomeda offers. Milkomeda is a groundbreaking new protocol that brings EVM capabilities to non-EVM blockchains. By using this protocol, Cardax is able to build a cross-blockchain DApp that enables customers to swap any token they want. Also, they can scale to hundreds of transactions per second without sacrificing long-term decentralization.
With their upcoming DEX, Cardax wants to make it possible for anyone to swap any token in a simple, straightforward and decentralized way. Because it is a non custodial exchange, the user remains at all times in control of their own funds.
Cardax is preparing to launch their public testnet in the coming weeks ahead of their much anticipated decentralized exchange (DEX).
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Country: Netherlands The
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