Cardax DeFi on Cardano Starts Security Audit, Shares Mainnet Release Date
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cardax, a new-gen DeFi ecosystem that addresses noncustodial crypto exchange on Cardano (ADA) blockchain, is ready to enter the final stage of its product testing.
From audit to mainnet: Cardax published updated roadmap
According to the official statement shared by the Cardax team, its main product - a Cardano-based decentralized cryptocurrency exchange - is getting closer to general release.
To ensure that this launch will go as intended, Cardax engineers ordered a codebase audit by Tweag, a high-profile cybersecurity vendor.
Ryan Morrison, founder and CEO of Cardax, highlights the importance of this third-party independent audit for further progress and massive adoption of his platform:
We are really excited about Tweag auditing our DEX. Their team delivers high quality work and they’re domain experts in programming languages.
The audit will start on March 28, 2022, and will take approximately one week. Once the audit is finished, the team is going to announce the launch of public testnet for Cardax’s main product.
As estimated by Cardax’s representatives, on April 12, 2022, the testnet version of the product will be up and running. In April, DeFi enthusiasts will stress test Cardax mechanisms.
The public mainnet launch of Cardax kicks off on May 16, 2022: its architecture will process Cardano-based swaps in a decentralized and noncustodial manner.
Partnerships and unique Project Catalyst course
Besides that, Cardax inked a partnership with COTI Network, a flagship protocol of Cardano’s ecosystem in terms of retail payments and daily usage.
Cardax is going to integrate Djed, a COTI Network algorithmically-backed stablecoin, into its crypto exchange mechanisms. Mr. Morrison comments on the first-ever stablecoin integration for Cardax:
We are very pleased to partner with COTI for the integration of Djed into our DEX. Stablecoins are an essential part of DeFi. So we are happy to provide a platform where Djed will be able to find liquidity and users will be able to trade a stable coin native to the Cardano ecosystem.
On March 15, 2022, Cardax started a unique educational initiative, the Project Catalyst Course.
Vladislav SopovWithin this course, the exchange representatives will describe the process of application for Project Catalyst funding, the basics of pitching and fundraising and so on.
Alex Dovbnya
Dan Burgin