Cardano-Based DEX Do.Exchange Goes with KICK.IO For DOEX Public Sale on 6th December

Most people agree that Cardano is in a good position to become one of the leading ecosystems over the coming years. Its network has tremendous potential for staking, smart contracts, and decentralized exchanges. In addition, new Cardano-exclusive DEXes will start hitting the market and may open new doors for DeFi concepts, services, and products.

The Power Of Cardano

Numerous ecosystems compete for traction in the crypto and blockchain space. Cardano has risen the ranks greatly since the network become compatible with smart contracts. Through these smart contracts, developers could launch decentralized applications, or DApps, to bring more services to the Cardano ecosystem. One such service type is decentralized exchanges, facilitating the transfer and swapping of value without custodians. 

However, the Cardano ecosystem doesn't have too many exclusive decentralized exchanges as of yet. Do.Exchange (DOEX) aims to change that narrative through its Automatic Market Making protocol. More importantly, DOEX will offer trustless and efficient transactions between users in a peer-to-peer manner, all the while providing much-needed liquidity to the ecosystem. The protocol will be community-driven and grant token holders equal voting rights. The DOEX Token will have other use cases and utility as well.

A DOEX Team representative explained: 

"Our vision is to become the first Cardano-based DEX, ensuring interoperability across chains and allowing for the seamless swap of tokens both on the Cardano blockchain and other ones like Ethereum via a fool-proof bridge or converter. This is part of our extended vision of laying a solid background for extended business and expansion opportunities. Our long-term objective is to be the one-stop-shop for DeFi services on the Cardano blockchain, including, but not limited to, staking and asset management." 

Opting for Cardano makes sense beyond its support for smart contracts. The community supporting Cardano is much more active than other blockchain ecosystems, and the network can handle 250 transactions per second. That number will increase significantly once the final Hydra upgrade hits the network. Additionally, Cardano's ecosystem is incredibly energy-efficient, up to 1,000 more so than Bitcoin. 

The DOEX Token 

The DOEX Token will be an integral part of the Do.Exchange platform. It provides voting rights but also introduces a solution to pay fees - Swap fees, slippage fees, or otherwise - and allows users to participate in liquidity pools. Becoming a liquidity provider enables users to earn trading fees generated by the platform. The DOEX Token will be a reward payment to liquidity providers on the platform.

Furthermore, the Do.Exchange team has confirmed the DOEX Token will come to the KICK.IO launchpad for its public sale. That public sale kicks of on December 6, 2021, at 12:00 PM GMT+02:00. A total of 23,8 million DOEX - 17% of the supply - will be available for purchase for $0.11 per token. Initial projects indicate this public sale may be significantly oversubscribed; thus, getting in early may prove crucial. 

The KICK.IO platform is a Cardano-based fundraising platform and project accelerator offering transparent and decentralized services. The next-generation launchpad adheres to DeFi industry standards and practices, including real-time settlement, interoperability, zero counterparty risk, and high scalability. In addition, projects raising funds through KICK.IO can benefit from the suite of advanced DeFi tools provided to them. 

Conclusion

An interesting era dawns upon the Cardano ecosystem. Decentralized exchanges will be an exciting addition to this ecosystem, as they have proven beneficial across other prominent blockchains like Ethereum, Binance Smart Chain, Polygon, Avalanche, et cetera. 

Moreover, they can provide more liquidity for native Cardano-based assets and tokens, among other things. With the help of Do.Exchange and KICK.IO, there will be a lot of attention on Cardano when this public sale kicks off on December 6, 2021.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.

Image Sourced from Monccur PR