ADASwap, who is the builder for the Cardano ecosystem, plans to set up the first DEX on the Cardano network. ADASwap is also launching a token sale on Cardstarter in efforts to raise funds from passionate investors and therefore be an enabler for sustainable growth of the Cardano network.
Cardano
Cardano stands among the most popular blockchain projects for developers in decentralized application space. Its native token is ADA, standing at the 6th position in the list of cryptocurrencies by market cap. While the platform is very popular, Cardano does not have a native decentralized exchange or decentralized finance ecosystem. This means that users should depend on centralized exchanges in buying, selling and swapping tokens.
The solution: ADASwap
ADASwap (ASW) token is the native crypto for the ADASwap platform set to serve in powering the different functions within the Cardano network.
ADASwap plans to solve this challenge by developing a native and gamified decentralized exchange for the Cardano network. This platform will provide users with the option to easily swap Cardano-based tokens.
Additionally, the project (ADASwap) will also design a native NFT marketplace backed with liquidity pools of fixed, long-term and high yield features. With such provisions, ADASwap will have the capability of staking tokens, a well as buying and selling NFT artwork hence earning significant ROI.
To be able to develop a more improved financial system, ADASwap has shifted attention from higher quality yields and now pays more attention to its users as first priority.
Owing to the fact that ASW tokens are a Cardano native token, they can be easily interchanged with any other token on the Cardano network.
Token holders are also able to swap tokens on the ADASwap decentralized exchange. This positions them to take advantage of the arbitrage opportunities live. This also reduces what they have to pay in transaction fees through Free Financial Model.
To start with, ADASwap has set aside 80 million ASW tokens going at $0.005 per token for the sale. This is part of their efforts to meet their $400,000 target. The allocation will be achieved in a single investment and 50% of this raise will be releases at TGE while the other 50% will go a month later.
With this fundraising, ADASwap plans to use the fund to facilitate its desire to create the first decentralized exchange on Cardano.
The competitive advantage for ADASwap
ADASwap has competitive advantage because it is the first project on the Cardano network to take this direction. This makes it possible for the project to develop a micro-ecosystem poised to help users develop and use the Cardano Blockchain.
Laying the groundwork: Factors to address
Before this potential by the Cardano network can be achieved, there are certain factors that must be addressed in the Cardano atmosphere. At the top of the list includes support to builders, creators and projects that form the foundation for the Cardano’s DeFi
Cardstarter support
The ASW token has attracted significant attention before its launch on Cardstarter, the decentralized project accelerator helping budding projects launch IDO token sales on the Cardano blockchain. With the objective to connect budding Cardano innovators to a community of investors, Cardstarter provides the perfect launchpad for basing ASW. This is primarily because of its provision that investors can take part in low-risk opportunities and invest in projects on the Cardano blockchain. The investment is supported by the Cardstarter insurance treasury.
ADASwap has chosen the ideal launchpad as a means to establish a firm base. In working with Cardstarter, the project will certainly get to the mainstream. To be part of the sale, users can visit the ADASwap website for more details. Investors can also participate in IDOs on Cardstarter by staking CARDS and thereafter registering for the live IDO you want to be part of.
