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Cardano Plans to Launch Another DEX in February, as per Latest Updates from IOHK

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Fri, 02/18/2022 - 15:46
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Tomiwabold Olajide
IOHK hints OccamX launch in February
Cardano Plans to Launch Another DEX in February, as per Latest Updates from IOHK
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IOHK, Cardano's parent company, gives an update on the latest happenings in the Cardano ecosystem since the start of February. Since the start of February, the MADAX metaverse went live, amid other significant partnerships.

IOHK hints that the OccamX built-in collaboration with Milkomeda, a Layer 2 protocol for delivering EVM capabilities to non-EVM blockchains, will launch the first public version of its Cardano decentralized exchange (DEX) in February.

The OccamX DEX, which will allow users to earn, swap and provide liquidity to a large number of Cardano Native Tokens (CNTs) available on the market, might launch in February on Milkomeda mainnet. OccamX is powered by the OCX token that will be used for providing liquidity and trading fee reductions.

The first DEX launched on Cardano, SundaeSwap is a decentralized trading protocol and token-staking platform that has grown in popularity since its initial release in January of this year.

SundaeSwap DEX has surpassed the $100 million mark in total value locked. According to data from DeFi Llama, SundaeSwap's current TVL stands at $125.79 million.

It has also recorded over 100 million ADA in volume traded since launch.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.