cryptocurrencies

Adax (ADAX) - A Complete Beginners Guide

Daksh Murkute | | |

ADAX is one of the most anticipated projects of the Cardano ecosystem because it wants to become the Uniswap of Cardano.

 

ADAX is a decentralized and non-custodial automated liquidity protocol that enables trades within the Cardano ecosystem. 

 

It does not have any order book; in fact, they have removed all intermediaries, complexity, and time-consuming procedures from the equation, giving users complete freedom to trade without censorship or loss of control over their assets.

 

In this blog, I am going to tell you everything you need to know about ADAX.

Table of Contents:

What is ADAX?
Why Cardano?
Advantages to ADAX over Uniswap on the very first day of its launch
Solving Market Problems
Team
Wallet
Staking
Tokenomics
Current market cap
Partnerships
Project release
Community
Future plans for revenue after DEX launch
Is ADAX a good investment?
Where can I invest in ADAX?
How to buy ADAX?
Should I buy ADAX?

 

 

At this point, when we are deep into the crypto market, we can proudly say that cryptocurrency has gone mainstream in the whole world.

 

And as we become more immersed in the cryptoverse, we all have noticed that most of these digital coins and blockchain projects are all attempting to solve different problems, which, in my view is a fantastic thing.

 

But still, when we talk about cryptocurrencies, most of us think only of Bitcoin, or Ethereum, or some top cryptocurrencies like QTUM, and so on.

 

However, we often overlook the undervalued gems like Paribus that are attempting to solve real-world problems, and if you closely observe then you have realized that not only are they attempting to solve real-world problems, but they are all racing to see who can solve them first.

 

In this article, we'll learn about one such race that aims to become the decentralized exchange of Cardano, the world's fourth-largest cryptocurrency by market cap.

 

And one player that is one step ahead of the rest is - ADAX.

 

What is ADAX?

What is ADAX?

ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized way. ADAX is trying to eliminate all the intermediaries, complexity, and difficult procedures from the equation. Users maintain full control of their tokens and do not require to give up their private keys.

 

In simple language- the goal of ADAX is to be the Uniswap of Cardano "Dex of Crypto".

 

And to become that, ADAX is trying to remove the middleman from the equation and trying to give a way of completely decentralized, censorship-resistance, and secure trading on the Cardano ecosystem.

 

Why Cardano?

 

Because Cardano is poised to become the next crypto trend-setter.

 

Cardano is currently on the cutting edge of blockchain innovation and its unrivaled security, breakneck blockchain speed, and significantly lower transaction fees will bring about a new DeFi era in the near future.

 

And that’s the reason developers chose Cardano.

 

Advantages to ADAX over Uniswap on the very first day of its launch

 

  1. It will have lower gas fees,

  2. There will be more predictable gas fees,

  3. And it will provide higher transactions per second as compared to others.

 

Solving Market Problems

 

Why Cardano?

 

ADAX is solving three main problems,
 

Market – ADAX designed a tool called the ERC-20 converter. Those who want to convert their ERC-20 tokens into Cardano can now convert their ETH tokens in just a few clicks, and when these tokens are moved across, they will be translated into a special native token on Cardano that has the same value and works just like an ERC20 token.

 

Liquidity stress- The main problem of liquidity pools is their constantly changing ratio which causes less rewards and impermanent loss. ADAX is working on a different model that will address these concerns.

 

Fees are the most attractive part of the ADAX,

 

ADAX will receive only 0.3% as a swap fee in which

  1.  
  • 0.175% goes for the taker

  • 0.125% goes for the maker

  • And all fees go straight to liquidity pools, there are no platform fees.

 

Team

 

ADAX Team

 

Timo Trippler is the CEO of ADAX. He is an experienced consultant for blockchain projects. Currently, he is also the CEO of blockSmart Consulting and a member of the board of advisors committee.

 

Dovydas Petkiviciou is the Chief marketing officer at ADAX. he has skilled in digital marketing and brand management.

 

Muhammad Furqan is the Chief Technology Officer. He has 10+ years of experience in software architecture and development.

 

Wallet

 

ADAX has its native wallet that allows you to store your crypto and allows for sending and receiving of crypto transactions.

 

ADAS has done a lot of Wallet integration pairings, that will work with it upon launches such as Gero / Cardswallet / Yoroi and more to come.

 

Staking

 

Staking is a way to put your cryptocurrency to work and earn some rewards on it. Every mainstream cryptocurrency has its own staking program like Bancor, VeChain, etc. ADAX has also launched its own staking program.

 

Pools in ADAX payout 0.044% ADAX rewards per day it is the amount for pool 1 and pool 2 pays out 0.033% ADA rewards per day.

 

There is no locking period for your staked coins, and currently, they are only able to do off-chain on Exmarkets until their product launch.

 

Right now at this moment, about 2/3rd of all coins in circulation are being staked.

 

Tokenomics

 

Tokenomics

 

The token distribution of ADAX is one of the balanced distributions of all time.

 

In total there will be 100 million tokens minted in which,
 

  • The team receives 10%,

  • 10% is for liquidity of the DEX,

  • 15% for staking,

  • 25% in the treasury and for the private sale that occurred in early June 2021,

  • 40% public distribution,

 

Current market cap

 

The price of ADAX is around 0.5 USD at the time of writing. It is rising at a steady rate, and the market cap is around $28 million


 Partnerships

 

Partnerships

 

Over time it has made several partnerships with the best projects to maintain its upward trajectory and to gain the services of various domains for its development. Some of them are:

 

Charli3 - is the oracle solution for the Cardano network.
 

Netvrk - is the leading decentralized Virtual Reality platform.
 

GeroWallet - it is the inclusive, DeFi non-custodial wallet.

 

VyFi - it is building an Automated Market Maker (AMM) in Cardano.
 

Matrixswap - it is a decentralized AMM-based exchange deployed on Polygon, Polkadot, and Cardano.
 

KICK
 

Stockgeist A.I.
 

BTBlock

 

Project release

 

ADAX is the most anticipated project of Cardano and they have projected to launch it in Mid to late November 2021.

 

Community

 

Community ADAX

 

ADAX is one of the fastest-growing communities in all social media.

 

Right now, around 21k people are following it on Telegram, it has booming Discord, Reddit, Youtube, and Twitter following that are continues to grow.

 

Future plans for revenue after DEX launch

 

The future plan of ADAX is the most ambitious.

 

ADAX plans to become a launchpad for future Cardano projects like UBIX, as well as become a solution for all DeFi projects.

 

It will have an ERC-20 bridge in Q1 of 2022 that will make swapping all of your favorite ETH tokens at low gas fees a possibility into a special native token on Cardano that has the same value and works just like an ERC-20.

 

Is ADAX a good investment?

 

ADAX is vying to become Cardano's Uniswap-like decentralized exchange. Honestly speaking, there are several players in the field, but the chances of becoming ADAX the first Cardano dex are extremely high.

 

And, if you believe in the crypto market, you are aware that people seek out undervalued gems, so holding ADAX is a great long-term investment. But, as I previously stated, do your own research.

 

Where can I invest in ADAX?

 

Right now it is tradable on Exmarkets, and more centralized exchanges are to come soon now.

 

How to buy ADAX?

 

ADAX is tradable in Exmaarkets, So, you can buy it from Exmarkets in exchange for its native token MKS.

 

Should I buy ADAX?

 

If you want to gain on ADA, the native token of Cardano then you should buy ADAX for long-term gain.

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