The crypto project ADAX is having its Initial Exchange Offering on the 11th of June. The IEO is set to take place on ExMarkets' IEO launchpad. ExMarkets is a well-known crypto crowdfunding platform and is used to harness the power of crypto's community to drive it to new projects in the space for better reach and growth.
ADAX is a non-custodial crypto exchange that operates in the Cardano ecosystem. Since ADA is gaining a lot of traction as people have started to recognize the blockchain's potential, the need for its community and ecosystem to grow, has become a necessity. The crypto space has already seen decentralized exchanges with Ethereum/BSC as their primary currency using which you can swap to any other currency. Examples of such exchanges include Uniswap, one of the biggest decentralized exchanges. The issue with Uniswap, or any other exchange is that the gas fees are a lot higher, and the transaction speeds are slow. Utilizing Cardano in such a setting is only apt as it promises speeds that are a lot higher with low fees required to transact.
ADAX uses these pros and aims to compete with the biggest decentralized exchanges out there. This not only helps grow ADA's community but also helps crypto adoption in general. Although in their initial stages, they are working extensively on their adoption due to which the project recently hosted a private sale that ended on the 7th of June. Apart from that, as mentioned above, they are having their Initial Exchange Offering on ExMarkets to move a step ahead. Adax is a Cardano-based token and will be available with a starting price of 0.20 USD USDT during the IEO. The team has made 14 million tokens out of the total supply of 100 million available for sale. This serves as the best time to not only be a part of a promising up-and-coming exchange but also get a chance to get big returns as the market matures for Adax.
Comparing this token to its competitors in the market, Uniswap grew around 30x in its first few months while others like Pancakeswap went on to a much bigger rally of around 100x in its initial period of a few months. Similarly, SushiSwap rose to 23 USD from 0.6 USD in a small time period. This comparison of tokens similar to ADAX shows its potential in short term as well as long term. Putting aside the speculations, ADAX aims to increase its intrinsic value from time to time according to its roadmap which is consistent with the growth in the Cardano ecosystem. All-in-all there is not much doubt when it comes to estimating the value of ADAX in the future as the brief history of crypto is on its side.
Source:-https://cryptonews.com/news/cardano-based-decentralized-exchange-hosting-its-ieo-on-exma-10610.htm
