By Shelly Melancon (Switzerland)
The IOHK Group has hinted to the Cardano community and the crypto world about launching another decentralized exchange. Reports have it that Cardano’s new DEX would be called OccamX, and has already partnered with Milkomeda to see to it that the exchange launches this February.
Milkomeda is an L2 protocol that allows non-EVM blockchain to run EVM protocols. OccamX, a DEX that enables users to earn by providing liquidity to tokens native to the Cardano network, will launch a mainnet on Milkomeda later this month. The native token OCX token will power the exchange and serve as the LP token as of the protocol.
OccamX Joins SundaeSwap
Recall that in January, Cardano launched its first DEX SundaeSwap. Like OccamX, SundaeSwap is a trading and staking platform that has become quite popular since its launch.
As proof of its popularity, the exchange recently eclipsed $100 million in TVL on Monday, earlier this week. DeFi Llama reveals that the actual figure is $125 million. Since launching in January, SundaeSwap has recorded more than a hundred million in the volume of $ADA traded.
Many traders are using the exchange because of its ease of use, simple interface, and profitable yields. With SundaeSwap, not only can you trade and stake, but you can swap and farm tokens.
SundaeSwap’s native token SUNDAE has already been listed on Bitrue cryptocurrency exchange. The inclusion marked a significant growth of the SUNDAE token, SundaeSwap exchange, and the Cardano ecosystem in general.
Users hope that the new exchange OccamX will tow in the path of SundaeSwap and even provide better trading, swapping, and yield farming for users.
Cardano Continues to Experience Growth
The Cardano blockchain has never ceased growing since it came into the limelight. The DApp network launched the MADAX metaverse this February in addition to other significant partnerships sealed.
Cardano also beefed up its team of developers by adding a major player in the crypto world to scale up operations. Today, the Cardano team announced the addition of open source developer Fernando Luis Vasquez Cao to its board of directors.
Fernando’s career has been more than impressive, having worked at a telecom giant in Japan out of college for more than ten years. He also joined SBI, where he became a leader. He has over 20 experience holding different positions in tech firms and will bring that work experience into the team.
Cardano has a bright future ahead and will look forward to improving its smart contract ability, scalability, and higher throughput. The network aims to be the leading L1 network, and Fernando’s addition could make that happen. Despite the bearishness of the crypto market on most of the trading days, ADA continues to thrive.
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