Cardano is coming up with another update that will include the launch of the new DEX.
IOHK, the parent company of the Cardano, has provided new information on the latest developments in the Cardano ecosystem. The IOHK indicates that OccamX’s cooperation with Milkomeda is planned to bring a new DEX exchange later this month. OccamX DEX will enable users to earn, exchange and provide liquidity to the large number of Cardano Native Tokens (CNTs) available on the market. OccamX is powered by the OCX token, which will be used to provide liquidity and reduce trading fees.
However, of the 100 million OCX in circulation only 30% will be released to the community with 50% set aside for future use, and the remaining 20% is planned to remain with the Occam team.
This is not the first DEX on the Cardano
This is not the first DEX to be established in Cardano. SundaeSwap was the first one, which was established only last month. It has enjoyed great popularity during that time.
AMM – DEX built on the Cardano network called the DOEX announced that they were getting closer to launching their testnet within a few days.
The growth of DEXes on the blockchain will certainly serve as healthy competition to the blockchain’s most successful DEX SundaeSwap. Since its launch last month, the protocol has managed to rise by 185% currently holding $124.5 million in total value.