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Cardax - Everything You Need To Know About Cardax

Daksh Murkute | | |

Cardax is a decentralized cryptocurrency exchange that runs on the EAMM protocol.

 

Cardano currently lacks a decentralized exchange (DEX). As a result, tokens based on the Cardano network do not yet have a native exchange to list them on.

 

This is the issue Cardax is attempting to resolve. Cardax aspires to be the Cardano ecosystem's native exchange.

 

Its goal is to provide liquidity to Cardano-based projects that issue native tokens.

 

In this blog, I am going to tell you everything you need to know about Cardax and its token CDX.

 

What is Cardax?

Team of Cardax

Governance in Cardax

Tokenomics of Cardax

Partnership

When Cardax will release?

Community of Cardax

What do you think about Cardax?

 

 

When looking at the CoinMarketCap list, it shows nearly 15k different cryptocurrencies in the market, and when pairings are taken into account, the total rises to over 50k.

 

I understand that most investors are looking for the next crypto that will provide them with at least a 100x return in the future, but it is very hard to find the perfect coin which can give you a significant amount of returns.

 

I know one such project, but before that let’s talk about the Cardano because, to be honest, the Cardano ecosystem has a lot of 100x potential projects.

 

Cardano is currently the sixth most valuable cryptocurrency in the world, and many exciting projects with a market cap of less than a billion dollars, such as ADAX are in building in Cardano. 

 

One such project which is making a lot of noise in the market is Cardax.

 

Cardax is the cryptocurrency that is attempting to become the de facto Cardano exchange.

 

What is Cardax?

What is Cardax?

Cardax is a decentralized Exchange in Cardano, it allows users to trade ADA for any Cardano Native Tokens. Cardax combines the best of two models, the Order book model, and the AMM model. The order book model works best with highly liquid trading pairs and the AMM model is better for illiquid pairs.

 

But before understanding, let’s have a look at what are decentralized exchanges, and how they work?

 

Decentralized exchange or DEX (in short) are P2P marketplaces where crypto traders make transactions directly, without handing over their funds to a middle man, and these transactions are supported through a code written agreement called smart contracts.

 

There are three main types of DEXs- AMM or automated market makers, order books DEXs, and DEX aggregators.

 

Cardax sees that the AMM model works better for illiquid pairs as long as there is enough liquidity around a price to fill a large market order, and the order book model works best with highly liquid trading pairs.

 

After seeing this, it proposed a system that combines both of these qualities, Cardax called it EAMM.

 

what Cardax do?

 

Through this:

 

  1. Anyone can start a liquidity pool or participate in any existing pool, and he or she can become a market maker.
     
  2. It will minimize slippage.
     
  3. Minimize the risk of impermanent loss.
     
  4. Price transparency will be there.
         

Cardax DEX allows liquidity providers and traders to participate in an open to all financial marketplace.

 

The utility token name is CDX.

 

Team of Cardax

 

Ryan Morrison, founder, and CEO, more than 14 years of experience in Digital Marketing

 

Matthias Putz and Geroge Flerovsky, Haskell/Plutus Developer

 

Matthew Carpenter, software developer.

 

Governance in Cardax

 

governance in Cardax  

 

“True democratic governance is doing what your people want, not just what you want for your people” –Peter-Cole C. Onele,

 

This statement fully fits the governance of Cardax.

 

The Cardax DAO will be live from day 1 of the launch, and voting power in the protocol is effectively distributed amongst CDX token holders.

 

CDX allows token holders to vote and decide collectively on how the funds should be allocated.

 

Tokenomics of Cardax

 

tokenomics of Cardax

 

If we care about the long-term success of any project, we have to put focus and extensive thought into the tokenomics of that project. Keeping that in mind let's look at the token economies of Cardax.

 

Cardax has a total supply of 1 billion tokens, in which team percentage will be 20%, advisors percentage will be 5%, and the team of the Cardax has agreed upon vesting of the CDX tokens for 2 years. So the total amount of CDX token vested for two years is 250 million.

 

Partnerships

 

So far, it has been a great year for Cardax, they have done plenty of partnerships with the different projects in recent months.

 

Some of them are:

 

Credmark is a decentralized risk modeling platform in DeFi.

 

Well typed, it is the Haskell language consultancy company.

 

VyFinance is building an Automated Market Maker (AMM) in Cardano.

 

Cardex will list Blockademia on its DEX, Blockademia is the first proof of truth document verification system on the Cardano blockchain.

 

Cardax will list Empowa on its DEX, Empowa is RealFi (DeFi) property platform on Cardano.

 

Charli3 is the oracle solution for the Cardano network.

 

Ledigity is the next-generation financial services platform for clients and financial advisors, built on Cardano.

 

When Cardax will release?

 

They are finishing their external audit. They will be releasing it somewhere around Q4 of 2021.

 

Also Read: Everything You Need To Know About Enjin

 

Community of Cardax

 

Around 43,000 on Twitter and also present on Discord, Reddit, Telegram, and LinkedIn.

 

What do you think about Cardax?

 

What do you think about cardax?

 

Cardax is attempting to overcome the limitations of order books and AMM by combining the best features of the two systems into a new one.

 

Cardax, like other decentralized exchanges, is still in its early stages, and they require additional infrastructure development, user experience improvement, and improved scalability systems to ensure future adoptions.

 

It is, in my opinion, a fantastic project with a lot of potentials, but as always, do your own research before investing.

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