Adaswap, the ecosystem builder facilitating one of the first decentralized exchanges on the Cardano blockchain, has gone live on the mainnet, according to a Monday announcement.
As reported by U.Today, the testnet version of the platform was launched in June.
AdaSwap was one of the first projects to launch on top of the Milkomedia Network, a novel protocol that brings EVM capabilities to blockchains of the likes of Cardano.
Alex DovbnyaAs reported by U.Today, the decentralized exchange was endorsed by “Wonder Woman” star Gal Gadot. The Israeli actress said that it was an “exciting” investment opportunity. The project has also secured backing from several prominent VC firms, including Finova Capital and Banter Capital.
Cardano’s TVL plunges
According to data provided by DefiLlama, decentralized exchange Minswap remains the top decentralized exchange by total value locked.
Cardano’s TVL has collapsed from a 2022 peak of $326 million in March to just $56 million as of today.
Still, Cardano (ADA) remains the ninth-biggest cryptocurrency by total market capitalization.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team