ADAX Pro AMA Takeaways
The last edition of ADAX Pro AMA session was held on October 17th, featuring the project’s CMO Dovydas Petkevicius and Lead Dev Architect Harold B.
In case you are wondering, ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way.
By offering its users untrammeled freedom to trade without censorship or the loss of control over their assets, ADAX can live up to its self-proclaimed state-of-the-artDEX attribute.
Because Cardano is widely anticipated to become the new standard-setter for crypto, and given the recently-launched Alonzo fork, investors recognize the network’s potential to challenge the embedded status quo of monopolistic and bureaucratic power structures within the world of crypto.
Ultimately, ADAX offers an appealing alternative, with innovations in the decentralized finance (DeFi) sector and fresh concepts for building contract-based DEX platforms.
During their AMA session, Dovydas and Harold further expatiated on the project’s status and its future updates. Although responses were provided for over 30 questions, the key takeaways from the session include the following.
ADAX Will Debut on Time
As expected from any typical AMA session that involves a blockchain project, the majority of the discussion centered around technical updates thanks to Harold, the ever-ready lead architect who steadily provided precise answers to each of the technical-related questions.
According to him, there will be two main features debuting on the first version of ADAX Pro: ‘swap’ and ‘order book (LIMIT) orders.’ However, Harold did reveal that other basic features such as crypto sentiment, charts, etc., will also be accessible.
As for features that will not be immediately accessible at launch, Dovydas noted that there will not yet be on-chain staking, considering that the host chain itself is yet to support Cardano’s native token staking. He added that as soon as on-chain staking is organized on the base chain, the feature will be accessible on the ADAX Pro platform.
Harold also explained that, unlike some other DEXes, the user interface (UI) of the ADAX Pro website will be very smooth, given that they will utilize WebSockets.
Wallet API Integration Is Still in the Works
While a lot of early adopters anticipate the integration of different wallet APIs, Harold explained that some wallets, such as the Daedalus wallet, will not be integrated into the platform at the onset. However, the integration of a couple of other wallets like Gero, Nami, and Yoroi is in the works.
“Wallet integrations are going well. We are working on multiple at the same time. Implementing Gero and being in contact with the team, Nami is almost finished, and Yoroi is still in development. Regarding Daedalus, implementation is planned after the initial release, as we are trying to make DEX as user-friendly as possible and with a low entry barrier. We are definitely committed to improving ADAX by bringing new mechanisms and features, including wallets,”
Harold explained.
The Hydra Upgrade Will Address Major Limitations Like Parallelism and Concurrency
It is not uncommon that most blockchains, including Cardano, are still trying to address some persisting limitations including parallelism, and concurrency, among others.
These issues are also found to be some of the major problems that may bottleneck the progress of ADAX if not addressed. However, Harold assured the community that ADAX v.1 was built such that it would not encounter any of these problems.
Harold additionally noted that a new upgrade, dubbed Hydra, is in the works and that R&D is still ongoing to further eliminate any form of limitations that may surface or perhaps hinder the broader expansion of the network, particularly referring to other versions of ADAX that will be rolled out much later.
“Cardano is responsible for giving tools for developers to create something. It’s not their goal to provide solutions for concrete use cases, a.k.a. Giving AMM source code. It’s up for projects and developers to complete these challenges,”
Harold added.
Harold further underlined that, although there are existing solutions to the concurrency problem, the vast majority use centralized approaches like ‘batching’ and ‘virtual execution or synchronization.’
Sadly, these methods are not sustainable for DeFi applications, necessitating the need for a well-researched solution that does not sacrifice decentralization, such as Hydra, which is still in development.
ADAX Pro Will Make Use of a Decentralized Order Book in the Genesis
While the initial version of ADAX Pro will not employ the more advanced Automated Market Maker (AMM) trading model, it will still maintain the pre-existing order book model, albeit with decentralized modifications.
According to Harold, orderbook is more familiar to the wide public, as it is used everywhere, from cryptoto forex, to stocks. In his words, “it is fairly simple, doesn’t have slippage, and allows you to execute orders on wanted price (in other words in the future).”
On the other hand, AMMs offer a better mechanism for earning passive income. However, according to Herold, the orderbook model can achieve some of the same features of AMM by sharing fee profits with holders or incentivizing makers.
Herold refrained from speaking further on how they are able to achieve decentralization with the orderbook model, noting that an actual AMM model is planned to be introduced in the project’s future.
Partnerships
Partnerships are critical to ADAX Pro’s growth, as evidenced by their ties with major Cardano ecosystem players such as Gerowallet and Stockgeist, which provide great insight into user behaviors through AI-driven social sentiment, and the recently added VyFinance.
Read more: https://dailycoin.com/adax-pro-ama-takeaways/
Text source: DailyCoin.com
