We are close to launching a public testnet of Cardax DEX on Milkomeda

Dear Cardaxians,

We have news! We are stepping away from building solely on the Cardano blockchain. The team has decided to shift gears and is now building on Milkomeda to reach a much bigger market. Using Milkomeda will allow users to trade coins that already have a very strong demand such as Bitcoin and Ethereum. It will also allow users to trade stablecoins like USDT and USDC.

So, what will happen to the Plutarch code we have already? We will temporarily pause the development on Plutarch to focus on making our DEX on Milkomeda a success first. Then, we will analyze whether it makes sense to allocate resources to continue the development of our Plutarch code. 

We’re really excited for this new step. Our goal just got much bigger as Cardax will be competing to be a major player in the entire crypto space, not just the Cardano space. This doesn’t mean that we are turning our backs on Cardano, quite the opposite. We will be opening the wide gates of already-established trading of Bitcoin, Ethereum, Tether, Binance chain and others to swap for Cardano native tokens and vice versa. This is massive for the Cardano ecosystem. 

Cardax aims to make this a reality by making use of the technology Milkomeda offers. Milkomeda is a groundbreaking new protocol that brings EVM capabilities to non-EVM blockchains. By using this protocol, we are able to build a cross-blockchain DApp that enables customers to swap any token they want. Also, they can scale to hundreds of transactions per second without sacrificing long-term decentralization.

So, where are we now?

The bare bones structure of the DEX is ready. We want to start out with a simple and straightforward swapping mechanism that is user friendly. 

The interface’s functionalities at the moment include creating liquidity pools and swapping tokens. 

We will build the DEX slowly but steadily by adding new functionalities one step at the time. Since the DEX will be serving a much larger audience with this new route, we are also focusing on reaching these new customers and teaching them along the way what our DEX has to offer. 

We are now preparing to launch the public testnet in the coming weeks. We are very excited to hear what you, loyal Cardaxian, think of the DEX. We want your feedback so we can make it better every time.

We’ll be sharing more videos of the testnet and tutorials next week.

Thanks for the everlasting support!