- Unlike our previous postponements, this is NOT going to be for a full 3 month Quarter.
- The full mainnet launch will be 16/05/2022
- We now have a public testnet launch date, along with a full breakdown of key dates, from now till public maninet launch at the end of this post.
So, why have we postponed the DEX launch?
Well, it is based on the audit and the language we are building the DEX on.
Firstly, we have always held the stance that we would not launch our DEX until it had been audited. As a DeFi platform, we take the safety of our users’ funds very seriously. This is something that we will never cut corners on.
Why did the Audit take so long to arrange?
When we started the development of the Cardax DEX, we were using the Plutus Tx language but very quickly we realised that if we continued using Plutus Tx, the DEX would suffer from major scalability and transaction throughput issues.
After having lots of discussions with our technical partners, it was decided that they would create Plutarch. Like Plutus Tx, Plutarch is a Haskell language but it achieves 300% more efficient performance.
In simple terms, we found a better way to build the Cardax DEX, that would be much faster to use and not struggle with scalability.
Whilst having to convert all the work we had done to Plutarch was annoying, it was not unforeseen. we think you’ll agree it was the necessary, obvious choice.
So, why has it been delayed again?
Reasons for the Delay
The problem arose, however, that MLabs having created Plutarch, could not be the ones to perform 3rd party audits on platforms using it. This is why we started talks with Tweag. Since Plutarch is very new, Tweag was unfamiliar with it.
In order to agree on a contract with Tweag to audit the Cardax DEX, they had to consult with MLabs to learn and understand Plutarch and decide if they had the capacity to complete our audit.
The majority of the delay has been not due to changing from Plutus Tx to Plutarch but in preparing everything for the Tweag audit.
Items that needed our attention before being able to agree on an audit timescale:
- Refining and adapting the Streaming Merge design to include PAB tools and the creation of a local testnet
- Implementing “Streaming Merge” correctly on-chain.
In the end, all has worked out well and Tweag will be auditing our code and giving us the seal of approval.
This is why we have been forced to postpone our launch.
Key Cardax Launch Dates:
- 28/02/22. Commencing this week, We will start testing the functionality of the Cardax DEX on an internal test net.
- 28/03/22. Tweag to start the Audit. 3-5 weeks for completion.
- 12/04/22. Public test net launch.
- 16/05/22. Full public main net Cardax DEX launch.
Thanks for sticking with us, we can’t wait to bring you the best DEX on Cardano.