• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
DOEX
Nexo

Hype Growing as DOEX Set to Become the First DEX on Cardano

Bitcoinist by Bitcoinist
9 months ago
in Sponsored Article
0
Advertisement

Although it is one of the top-performing blockchain networks, Cardano is yet to have a native Decentralized Exchange (DEX) like those found in other blockchain networks. Currently, there exists no exchange list for tokens of projects that are based on the Cardano blockchain. This will soon become a thing of the past, now that the team at DOEX is making some serious headway into the development of their project. DOEX is set to be the first Cardano Blockchain-based DEX, and according to its roadmap, the DOEX DEX is scheduled to launch by the end of the year.

What is a DEX?

A Decentralized Exchange or DEX (DEX) is a blockchain-based application that is accessible through a series of smart contracts and is designed to facilitate financial services that are traditionally carried by a central entity in a decentralized manner.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

With a DEX, trustless parties can carry out financial transactions by relying only on the self-enforcing ability of smart contracts. Apart from decentralizing access to financial services, it also ensures that profits from the financial services are decentralized. Participants that provide liquidity to facilitate exchange, swap and other types of operations on decentralized exchanges are rewarded with a small serving as a means of passive income generation for individuals.

On its website, DOEX clearly states its vision to be the first Cardano-based DEX:

“Our vision is to become the first Cardano-based DEX, ensuring interoperability across chains and allow 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.”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

However, despite the scalability and functionality of the Cardano blockchain, it is far behind the top three blockchains when it comes to DEX daily wallet activity. According to the most recent DappRadar data, the clear winner is Ethereum with 3447, TRON with 1665, and EOS with more than 750, as seen in the graphic below:

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

While Cardano may have superior technology, pent-up demand, and visionary leadership, it has a lot of ground to make up to even come close to catching up. As with so much in crypto, we’ll have to wait and see.

On the Flipside:

  • Ethereum continues to be a juggernaut regarding DeFi, NFTs, and DEXs.
  • The most recent DappRadar data shows that DEX Ethereum is the dominant protocol, holding 64% of the total daily active unique wallet activity.
  • Daily active unique wallets on Ethereum grew 48% from 2019 to 2020 – it will be a challenge for any competitor to overtake Ethereum – not impossible but not a certainty.

Why You Should Care:

Interest in DeFi continues to grow as DeFi Pulse shows that nearly $95.4 billion is locked on various DeFi protocols. Once this bull cycle winds down, expect to see profits flood into DeFi as a safe harbor to help “bear” the inevitable bear market. Given that expected growth, there’s likely to be plenty of room for an array of DEXs and blockchains.

DOEX is changing decentralised exchange on Cardano. Visit the website to find out more, or Email the team at [email protected]

 

Twitter | Telegram | Discord | Reddit

 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

How The Trident Protocol Is Offering The Biggest Fixed APY In Crypto 382,000%

How The Trident Protocol Is Offering The Biggest Fixed APY In Crypto 382,000%

16 hours ago
Lido Finance partners with KyberSwap Elastic to enhance liquidity on Polygon with over $120,000 in liquidity mining rewards

Lido Finance partners with KyberSwap Elastic to enhance liquidity on Polygon with over $120,000 in liquidity mining rewards

2 days ago
LiveCasino.io Offers The Most Rewarding Crypto Casino Experience With Cashback, Rakeback, And More

Why LiveCasino.io Is the Best Choice to Multiply Your Crypto Holdings

3 days ago
Cardano-Based Cardalonia Partners With Ready Player Me 70% Of Their Token Presale Allocation Filled

Cardano-Based Cardalonia Partners With Ready Player Me 70% Of Their Token Presale Allocation Filled

7 days ago
Seedify Makes a “Bonus Snapshot” Airdrop Available for Its Upcoming Token Eligibility

Seedify Makes a “Bonus Snapshot” Airdrop Available for Its Upcoming Token Eligibility

1 week ago
Cuprum Coin, one of the most valuable cryptocurrencies, launched via an IEO offering on the Bitforex exchange.

Cuprum Coin, one of the most valuable cryptocurrencies, launched via an IEO offering on the Bitforex exchange.

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.