Adax — The Liquidity Protocol for the Cardano Ecosystem

In the past few years, crypto users have been pushed to give up total control of their assets simply because it is vital to swap cryptocurrencies. Many traders have turned to centralized exchanges, which do not put users in the driving seat. More so, these exchanges have complex and cumbersome procedures for trading assets. Processes like compulsory KYC verification and unnecessary withdrawal limits have not synced with one of the primary purposes of creating cryptocurrencies, which is decentralization.

While this is a significant issue in the crypto ecosystem, a reliable and solid solution has been uncovered. Adax protocol is the solution to this problem.

Adax is an automated liquidity protocol built on the Cardano blockchain. A vital feature of the protocol is that it is entirely decentralized. As such, Adax facilitates trades without restricting crypto users in any way. While tokens are swapped speedily, the protocol does not accommodate order books. Crypto users have full custody over their assets, and users need not give up their private keys for the orders to be filled, as is the standard in centralized exchanges.

Adax recently partnered with two major firms in the blockchain ecosystem — Netvrk and Blackdragon. Netvrk is a social VR platform built for gamers and NFT lovers. Blackdragon, on the other hand, is a project that helps crypto investors gain early access to new tokens with great potential. It supports over 120 projects and currently has more than 1000 community members.

The collaboration with these two platforms is strategic. Netvrk and Blackdragon are resolute organizations, and they both have visions that will help Adax achieve its goals faster.

The launch of Adax has been supported by the Cardano community, who have shown keen interest in the Adax protocol. The last two weeks have been eventful for the community members. Cardano foundation took notice of the Adax team and how they have been diligently promoting the Cardano network. In addition to this achievement, the Adax team built a supporting and engaging community and successfully distributed tokens to members who contributed to the team's vision.

Some remarkable achievements by the Adax team are highlighted below:

  • A worldwide community with over 15,000 individuals was built;
  • The group recorded an oversubscribed private sale;
  • The IEO slots were almost sold out within a few days
  • Publishing of relevant documentation illustrating critical technical details for Cardano native tokens.

All these achievements are no easy feat. Perhaps, the most remarkable of them is the support Adax gained from the Cardano foundation. At the start of the project, the team did not expect the protocol to gain traction and support from Cardano this early. A huge milestone indeed!

Some existing market problems in decentralized exchanges include low liquidity, high platform transaction fees, and lack of cross-chain interoperability. The Adax protocol solves all these problems.

Liquidity pools currently have reward ratios proportional to the volume of assets a liquidity provider decides to stake. However, there could be cases of impermanent loss for tokens with low volumes. This implies that it may not be worth the risk for a liquidity provider to stake tokens in pools on some occasions. The Adax protocol has a different architecture to prevent liquidity providers from incurring impermanent losses.

Also, the platform has a 0.3% swap fee which goes to the liquidity providers. Takers earn 0.175%, while makers earn 0.125%. All fees go straight to liquidity pools, and the platform does not charge any additional fees.

The protocol has an ERC20 converter integrated into the platform. Token issuers or organizations who wish to teleport their tokens from the ERC20 network to the Cardano network will appreciate this helpful tool. With just a few clicks, users can convert their ETH tokens to the equivalent on the Cardano network that works exactly like an ERC20 token.

The Adax team consists of seasoned crypto industry professionals, from development to marketing and financials, who have decided to bring their ETH experience to the Cardano ecosystem.

The core team behind the project comprises Timo Trippler, the CEO of Adax; Dovydas Petkevicius, the CMO; and Muhammad Furqan, who is the CTO.

Arturas Svirskis, Michael Corckery, Vilius Bikneris, and Laura Stasiukonytė are also members of the Adax team. They hold the positions of Business Advisor, Investor Relations Leader, Data Analyst, and Growth Specialist, respectively.

Adax.pro has opened a sale for the Adax token. The launch price of the token is 0.3USDT. Users will be given access to purchase the token using ADA, BTC, ETH, or USDT.

There are currently 14 million ADAX tokens out for sale with no restrictions on countries or regions. The first round of the sale will be open from June 11 through June 18, while the second round will be open from June 20 through June 25. Investors will be able to make purchases of the token on exmarkets, and purchases can be quickly made without KYC verification.

Adax has achieved most of its goals for the second quarter of the year, including collaboration with the Cardano Foundation and an intensive brand awareness campaign.

The team is already planning to launch its Liquidity and Swap platform in Q3 2021. Another plan for the year's third quarter is to roll out the Cardano smart contracts.

Big plans also stand for the following year. The team will work towards integrating the platform with IOHK ERC20 Bridge, and the white-label solution will also be launched early in 2022.

It is the goal of Adax to invent a benchmark swapping solution for the crypto ecosystem and, more specifically, for the Cardano community. This blueprint can then be implemented in other crypto projects if proven solid. Given the potential of Cardano to challenge the existing state of affairs of monopolistic mickle projects in the crypto ecosystem, the Adax project will expand significantly in the right direction within a short time.

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Efe Bravo

Silentpoettt _ A science student who fell in love with art. I write articles related to investment, online businesses, finance, blockchain and crypto.