The world of crypto and blockchain networks is rapidly growing, with some new models and technologies. The demand for DEX (Decentralized exchanges) and Decentralized apps is touching the sky. Cardax DEX offers some incredible features and a useful model for the cutting-edge network, Cardano. So, in this article, let’s explore this new DEX and its new models, which may revolutionize the DeFi network. 

What Is Cardax?

Cardax is a decentralized exchange where you can trade native Cardano tokens. This is a private, non-custodial, and Multi-Chain DEX (decentralized exchange). The main goal of this DEX is to provide users with initial swaps and liquidity pools with as little congestion as possible.

Here you can trade any ERC-20 token, stablecoins, including Bitcoin, Ethereum, etc., and Cardano native tokens. Ryan Morrison created Cardax DEX, an Automated Market Maker (AMM & EAMM) located on Milkomeda. 

Features Of Cardax 

Cardax is a unique DEX compared to other DEXs due to its Cardano blockchain and EAMM protocol. The EAMM protocol is the original concept of this DEX. The main functions of this DEX are similar to other DEXs, but the EAMM paradigm makes it stand out from others. Here are some of its core features…

1. EAMM Model

Cardax’s unique EAMM model helps to address some of the flaws of the AMM model. This Extended Automated Market Model (EAMM) is an improved version of the AMM protocol, which provides pricing power to the takers over the formation of new token pairs. 

AMM has a high barrier to entry, but with EAMM, you can create a new pair without paying a large amount of capital. This EAMM protocol will merge the advantages of order books and AMM. 

2. Liquidity And Fee Model

Cardax pricing is comparatively lower. There is only a 0.35% fee when you swap any tokens. The protocol distributes fees and other charges among the liquidity providers (0.30%) and Cardax Treasury (remaining 0.05%).

If you are a liquidity provider, then you’ll receive Cardax utility tokens (CDX) as your return on investment. 

3. Tokenomics And Distribution

CDX is a new token so you can’t find it easily on crypto trading platforms like Coinbase, Kraken, Binance, etc. However, at the current moment, there is a total supply of nearly 1 billion CCDX tokens. Almost 200,000,000 tokens are allocated to the team and 50,000,000 tokens to advisors. After two years, 250 million CDX will be released from smart contracts. 

4. Accelerate DeFi On Cardano Blockchain

The Cardano blockchain is shaping towards a platform that can accelerate DeFi. This will benefit both the network and the ADA token, which will impact the technical benefits of the Cardano blockchain.

The unique EAMM DEX cardax provides a spark to enhance the Cardano blockchain. The Cardax model has some profitable benefits for accelerating DeFi. If it successfully implements its benefits, then it may become one of the best DEXs on the network. 

How To Buy Cardax?

As I said, this is a new DEX, so it is not available widely. This means you can’t purchase CDX tokens on any platform. However, you can acquire CDX tokens by staking. There are multiple options where you can stake CDX tokens via VYFI NFT on the VyFinance platform. 

Just buy those NFTs on CNFT.io and hold them until they can be harvested. Once the NFT is harvested successfully then you’ll get CDX tokens. It is like claiming free Cardax with the harvested NFTs. 

Is It Safe? CDX Tokens And Its Risks

Now the real question is, are CDX tokes safe? Remember, this cardax is still in its development stage, or it is in its very early stage. Therefore, the outcome can be altered. However, the design team of the CDX token is going to follow its roadmap without changing its development under any circumstances. Here is the complete roadmap… 

Q2 2021 

(Architecture And User Interface)

• Creation of wireframes for each feature and page
• Designed the UI of the complete project. 
• Development of Cardaxi whitepaper
• Website Design 
• Creating a functional demo 
• Developing logic and features 

(EAMM Development)

• Developing the EAMM Protocol

Q3 2021 

• Frontend and Backend Development
• Plutus Smart Contracts Deployment 
• Code Review and Security Audit

Q4 2021

• DEX goes Live

Conclusion

In the end, Cardax offers a stable and reliable environment for Cardano native tokens. The advantages of CDX will help users make strategic investments. Also, the EAMM model is going to be the next-gen blockchain DEX. This allows anyone to become a market expert without having lots of capital. If you have any other questions regarding this article, feel free to ask me in the comment section.

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• How To Cash Out Coinbase?
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