In a recent interview with U.Today, founders of Cardano-based Genius Yield Web3 platform shared the details of creating their DEX and how it can help regular users build up their passive income.
One of the platform's founders, Dr. Lars Brünjes, a holder of a Ph.D in mathematics, joined Input Output Global, the company that created Cardano chain, a few years ago. Prior to that, he had been in the sphere of coding for approximately 15 years, both practicing and teaching it, as well as blockchain, to thousands of students both live and online.
He shared that he was fascinated by IOG's potential to change the lives of billions for the better.
The second founder, Marvin Bertin, comes from the AI engineering/machine learning sphere, where he spent many years. Together, they decided to build their Genius Yield Web3 platform on the Cardano chain. First App on the platform will be Genius Decentralized Exchange (DEX).
This DEX will be the key app on Genius Yield with the goal of democratizing decentralized finance for everybody; that is the motto of the platform.
According to the founder, the main feature of its DEX will be the "decentralization" of Web3. They have built it up to enable any owner of a Cardano wallet to use the decentralized exchange and make swaps between Cardano's ADA and Cardano-based coins, including the native token of Genius Yield, GENS.
GENS is a utility token and can be staked within a Genius Yield Staking App. This will allow holders to receive income by means of yield farming.