Did you know that cardano is billed as the third generation blockchain after bitcoin and ethereum as the first and second generations, respectively?
For those who(beginners) do not know anything about cardano, this is a software platform only and does not conduct any independent diligence on, or substantive review of, any blockchain asset, digital currency, cryptocurrency or associated funds. And it is launched in 2017.
when looking at Cardano management, three separate entities oversee the development of Cardano as it moves toward becoming a completely decentralized project.. the first one is IOG (Input Output Global) which is formerly known as IOHK (Input Output Hong Kong), IOG is responsible for the technological development of the Cardano platform. Second is Cardano Foundation which is Tasked with marketing, forming partnerships and expanding the global presence of the platform, and the last is Emurgo that Helps fund developers, enterprises and startups looking to contribute to the Cardano ecosystem.
Cardano’s native blockchain is divided into two separate layers to fulfil different tasks and improve overall efficiency. First is Cardano Settlement Layer (CSL) which is used for facilitating peer-to-peer transactions of ADA-native tokens and the second is Cardano Computational Layer (CCL), which is used for executing smart contracts.
Ok, after all these explanations above of cardano, let's take a look at this new cardinal project.
What is this?
ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way or it's an automated market maker that serves users on the Cardano network. ADAX was created to deliver a seamless trading experience in a decentralized setting, also it is poised to make users transact smoothly on the Cardano network.
ADAX Price Data
ADAX price data is $1.10 USD with a 24-hour trading volume of $13,778,236 USD at the time am writing this article. The current CoinMarketCap ranking is #2631, with a market cap of not available. The circulating supply is not available and a max. supply of 100,000,000 ADAX coins. ADAX can be traded only on ExMarkets with various pairs like ADAX/USDT, ADAX/ADA, ADAX/BTC and ADAX/ETH.
ADAX benefits.
Through ADAX, people can expect to trade freely without the many restrictions that have made centralized exchanges unpalatable and all the swap fees generated are shared between market makers and liquidity providers. Also, ADAX users can maintain full control of their tokens and are not required to give up their private keys so that their orders can be logged as they are on a centralized exchange. ADAX facilitating token swaps, staking, ensuring market liquidity, and enabling users to make full use of the network’s capabilities.
Final words.
This article is for educational and informational purposes only and is not intended to be used as a financial promotion. No information, data, or analysis presented are intended to form the basis of any investment decision. Nothing in this paper should be construed as an offer or inducement to engage in any form of investing activity.
Source; yahoofinance
Source; ADAX
Source; Coinmarketcap