- Cardano has continued to see adoption, with the latest being a decentralized exchange and a partnership that avails Shopify integration.
- The blockchain network is awaiting the Alonzo hard fork that will allow developers to integrate smart contracts, allowing it to venture into DeFi, NFTs and more.
Cardano has continued to see increasing adoption as more companies recognize the potential it has to challenge Ethereum as an underlying technology. In the latest adoption news, the purported first licensed Bitcoin-led casino operator has added ADA, Cardano’s native crypto to its payment options. The first decentralized exchange on Cardano is also here, as a partnership with NowPayments avails Cardano on Shopify.
Cardano’s first DEX
The rise of decentralized finance (DeFi) has proven that the demand for decentralized protocols is at an all-time high. However, decentralized exchanges have only been limited to Ethereum. A team of developers are looking to change this, introducing Cardano’s first decentralized exchange.
The developers have submitted a proposal on Project Catalyst, seeking $50,000 to develop Cardax exchange. Led by renowned developer Ryan Morrison, the team believes that it’s long overdue for Cardano to challenge Ethereum on this front.
— Cardax (@CardaxDEX) April 15, 2021
“Cardax is a decentralized exchange that will be powered by the Extended Automated Market Maker (EAMM) protocol. It aims to provide liquidity to projects that issue native tokens on Cardano,” the team describes the project.
Cardax will support any Cardano native token and will allow users to join liquidity pools and collect fees on ADA. Users can also trade between ADA and these native tokens, trade between the tokens in a single transaction and easily purchase ADA from Yoroi wallet.
With the increasing adoption of Cardano and ongoing initiatives to support DeFi, a Cardano-based DEX will serve as an essential and powerful trading venue in the ecosystem. Cardax is set to provide a trustless way of connecting stakeholders while promoting equitable governance and involvement in the Cardano community.
Shopify and BitCasino
In more adoption news, one of the leading digital currency casinos, BitCasino, has integrated ADA payments. Announcing the integration, Tauri Tiitsaar, the director of Casino at Coingaming Group – the company behind BitCasino – remarked:
Cardano network is one of the most popular platforms in the world so it was only natural for us to add ADA as the next cryptocurrency on Bitcasino. It is certainly something our players have been waiting for and we’ve now delivered. We look forward to welcoming the Cardano community to Bitcasino, where they can expect fun, fast and fair gaming.
Users can deposit a minimum of 15 ADA while they can only withdraw a minimum of 30 ADA.
NowPayments, a crypto payments company, has also integrated ADA. In addition, NowPayments also created a plugin for e-commerce giant Shopify.