Main navigation

Cardano DEX Goes Live on Mainnet

News
Wed, 03/09/2022 - 07:38
article image
Alex Dovbnya
The Minswap DEX has gone live on the Cardano mainnet
Cardano DEX Goes Live on Mainnet
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Multi-pool decentralized exchange Minswap announced its debut on the Cardano mainnet earlier today.

Its users are now able to deposit liquidity in exchange for rewards and to swap tokens in a decentralized way. Yield farming will become available on the exchange starting from March 14.

As reported by U.Today, Minswap completed its audit in collaboration with concept-to-launch software innovation lab Tweag.

Minswap went live on the Cardano testnet in September, prior to the launch of smart contracts functionality. However, its debut was mired in controversy due to the "concurrency" issue that prevents token swaps from going through. After facing backlash and attracting mockery from Cardano detractors, Minswap said that it was working to solve the issue.

Related
Cardano (ADA) Now Available for Trading on Japanese Crypto Exchange for Pro Traders
According to data provided by cryptocurrency analytics platform DefiLlama, Minswap currently has $48.87 million in total value locked.

SundaeSwap, which went live on the mainnet in late January, currently has $121.75 million in total value locked, which makes it the biggest Cardano DEX for now.

With a mere $172.46 million in TVL, Cardano pales in comparison to other "Ethereum killers" such as Solana and Avalanche.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.