AdaSwap Launches Gamified DEX on Cardano, Teases Token Sale

AdaSwap, one of the first-ever decentralized protocols on the largest proof-of-stake (PoS) network, Cardano (ADA), is going to release its token on an IDO launchpad.

AdaSwap's ASW goes live on CardStarter: Details

According to a press release shared with U.Today, AdaSwap, a noncustodial cryptocurrency exchange on Cardano (ADA) blockchain, announces its first token sale.

AdaSwap's core native utility asset, ASW, will be released to the public on CardStarter, the most popular Cardano-centric launchpad for initial decentralized exchange offerings (IDOs).

For this token sale, AdaSwap is allocating 80 million tokens. The initial token sale price is set at $0.005. Thus, the hardcap for the IDO is limited at $400,000.

This allocation will be unlocked in two batches: the first portion of tokens will be released immediately upon TGE, while the remaining 50% will be transferred to investors within 30 days.

Itay Levy, CEO of AdaSwap, stresses the crucial importance of this milestone for the progress of his product:

A launchpad is a very important starting point for the lifecycle of any project, it establishes the base for which strong beams must be built upon. At AdaSwap, we have chosen the best launchpad for the strongest of bases. We are really excited to be working with CardStarter in order to bring AdaSwap to the world!

One-for-all DeFi ecosystem for Cardano (ADA) enthusiasts

Brandon Kazakoff, COO of Cardstarter, is sure that AdaSwap's IDO is a pivotal moment for the entire DeFi ecosystem of Cardano (ADA):

In order for the potential of the Cardano ecosystem to be realized, concrete realities must be brought into alignment with the Cardano ethos. It is incumbent on all those who share this ethos to extend our support to the builders, creators, and projects working to lay down the infrastructure of decentralized finance on Cardano. I believe that ADAswap has an important role to play in this regard. The ecosystem is rapidly taking shape, and I am more confident than ever that the future of DeFi is bright, close at hand, and built on Cardano.

AdaSwap is a holistic decentralized finance (DeFi) ecosystem on Cardano (ADA). Besides seamlessly swapping Cardano-based tokens, it allows clients to provide liquidity to Cardano-centric pools and to trade on an NFT marketplace.

ASW token is also a native Cardano asset, so it can be exchanged on AdaSwap for any other asset issued on this blockchain.