ADAX is custodial and order-book-based decentralized exchange
ADAX, a Cardano-based DEX, launches a new version on testnet when ADAX V2 goes live. ADAX is a decentralized custody and order book based exchange that integrates into the unique architecture of Cardano. For decentralization and to ensure fast and transparent transactions for all users, the DEX includes smart contracts written with Plutus.
Currently, Cardano has a total value locked of over $144.42 million, ranking 31st among DeFi chains. Contributing to Cardano’s TVL are dApps such as MinSwap, SundaeSwap, Wingriders, ADAX pro and MuesliSwap.
Now for another announcement: Shortly after announcing its support for USDC, the The Iagon team says it hopes to add support for USDT, Wrapped Bitcoin, and Ethereum. Last week, the IAGON Ethereum-Cardano token, designed to enable the conversion of ERC-20 IAG tokens into CNT IAG tokens, went live. The specially designed bridge was created so that tokens on different blockchains (Ethereum and Cardano) can interact.
ADA price action and Vasil Hard Fork expectations
Expectations continue to be in place for the Vasil Hard Fork as June finally arrives. The mainnet hard fork proposal deadline has been set for June 29.
The next Vasil update will introduce four different CIPs: CIP-31 (reference inputs), CIP-32 (inline data), CIP-33 (reference scripts) and CIP-40 (collateral outputs).
At the time of publication, ADA was trading down nearly 7% at $0.60 as traders pulled in profits. ADA rose impressively after hitting a low of $0.44 on May 27. ADA subsequently rallied to highs of $0.689 on May 31 before it retreated.
Ahead of the highly anticipated hard fork event, the Cardano network has now seen over five million NFTs minted. According to data from pool.pm, the number of native assets issued on the Cardano blockchain currently stands at 5,019,030, with 54,986 distinct minting policies.
