- AdaSwap is set to establish the first decentralized exchange on the Cardano network.
- It will start with a token sale on Cardstarter.
- The funds will drive the sustainable growth of its platform.
The first decentralized exchange on the Cardano network — AdaSwap, is launching a token sale on Cardstarter. The ecosystem builder set to establish itself is hoping to raise funds from supportive investors. In turn, this move will drive sustainable growth on its platform.
The CEO of AdaSwap — Itay Levy, says:
A launchpad is a very important starting point for the lifecycle of any project, it establishes the base for which strong beams must be built upon. At AdaSwap, we have chosen the best launchpad for the strongest of bases. We are really excited to be working with Cardstarter in order to bring AdaSwap to the world!
In fact, AdaSwap is pooling 80 million ASW tokens, each going for a price of $0.005 for the sale. This is to reach the expected total of $400,000. More so, this pool is just one installment. An additional 50% will follow at TGE and another 50% a month later.
Those hoping to participate in the sale should head over to AdaSwap website for more details. Specifically, those hoping to participate in IDOs on Cardstarter should be aware that investors must first stake CARDS before registering for the Live IDOs they wish to participate in.
Above all, the fundraiser is aiming to help AdaSwap deliver on its vision to build the first DEX on Cardano. Presently, Cardano’s native token — ADA, is in 7th place, based on market cap. This is remarkable as the platform does not yet have a native DEX or DeFi ecosystem. This also means that users are relying on centralized exchanges to buy, sell, and swap tokens.
Thus, AdaSwap is working to solve this barrier by presenting a native and gamified DEX for the Cardano network. This DEX will allow users to easily swap Cardano-based tokens. Furthermore, AdaSwap will also bring a native NFT marketplace and long-term, fixed, high-yield liquidity pools.
With these new applications in play, AdaSwap users can begin staking tokens, buying and selling NFT artwork, and earning high interest from their investments. Overall, the project aims to offer a better financial system, by focusing on the users instead of just higher liquidity locks.
The COO of Cardstarter — Brandon Kazakoff, adds:
In order for the potential of the Cardano ecosystem to be realized, concrete realities must be brought into alignment with the Cardano ethos. It is incumbent on all those who share this ethos to extend our support to the builders, creators, and projects working to lay down the infrastructure of decentralized finance on Cardano. I believe that ADASwap has an important role to play in this regard. The ecosystem is rapidly taking shape, and I am more confident than ever that the future of DeFi is bright, close at hand, and built on Cardano.
As for the AdaSwap (ASW) token, it is the native cryptocurrency of the AdaSwap platform. In particular, it will be used to power various functions within the Cardano ecosystem. Being a Cardano-native token, they can easily be interchanged with all other Cardano-based tokens.
In addition, ASW token holders can swap tokens on the AdaSwap DEX, leverage arbitrage opportunities in real-time, and save on transaction fees via a Free Financial Model. Here, no participation or transaction fees are applied. Moreover, ASW tokens have sparked great interest within channels such as Banter Capital and VoskCoin. Clearly, it seems the project is generating much excitement ahead of its launch on Cardstarter.