An AMM based DEX, featuring an ERC20 converter, where all swap fees are split between the taker and the maker of the trade.
ADAX works using an Automated Market Maker, AMM style of settlement, relying on liquidity pools to facilitate the swapping of tokens.
The swap fee on ADAX is 0.3% and this is shared between the maker and the taker of the trade: 0.175% for the taker and 0.125% for the maker. There are no platform fees, all fees go to the liquidity pools that facilitated a trade.
The ADAX DEX will include IOHK’s ERC20 converter that is designed to facilitate the easy conversion of ERC20 tokens from the Ethereum network over to the Cardano network as Cardano Native Tokens. This tool also allows the conversion of the ERC20 tokens to be reversed through the burning of their counterparts on the Cardano blockchain.
The end goal of the ADAX project is not only to successful facilitate the exchange of tokens without a middleman or custodian taking part but also to create a benchmark of liquidity and token swapping that can be easily adopted and reused by future projects on Cardano.
Centralized Exchange (CEX)
Adax is currently operating a centralized exchange, CEX, that runs on the traditional order book style model. This has a connected launchpad for projects wanting to launch in the Cardano ecosystem.