ErgoDEX is seeking to join the list of decentralized exchanges on the Cardano network by launching on testnet.
It has been a long road, but here are some of ErgoDEX's testnet first transactions on Cardano. Testing is going well so far and we are excited for everyone to come and try and break it for us!https://t.co/orjAaO0oFi
— ErgoDEX (@ErgoDex) April 4, 2022
ErgoDEX, a non-custodial decentralized exchange, has officially launched on the Cardano testnet.
Ongoing ErgoDEX Testing
The team behind ErgoDEX has embarked on numerous testing to ensure that it deploys an efficient decentralized exchange platform to Cardano enthusiasts seeking to use more decentralized exchange on the network.
At the moment, a selected group of ErgoDEX and Cardano enthusiasts are engaging in a series of testing of the platform, which commenced yesterday.
The “closed testing” as described by ErgoDEX went live yesterday as part of measures to ensure that the ErgoDEX trading platform is deployed on the Cardano mainnet without any hassle.
ErgoDEX shared a link to the Cardano testnet explorer for the exchange, showing users’ transactions on the network, which indicates intensive testing of deposits to a liquidity pool.
Notably, the closed testing will span for two weeks before the team commences open testing, which will allow more people to use the platform.
“The first release always requires caution. Therefore, to make our launch smooth, we have decided to start with closed testing on April 4th. Then over the next two weeks, we will move towards open testnet, slowly letting people in and making sure the performance stays satisfactory,” ErgoDEX tweeted.
The first release always requires caution. Therefore, to make our launch smooth, we have decided to start from closed testing on April 4th. Then over the next 2 weeks we will move towards open testnet, slowly letting people in and making sure the performance stays satisfactory!
— ErgoDEX (@ErgoDex) March 31, 2022
ErgoDEX Features
ErgoDEX is a non-custodial decentralized exchange that allows a quick and secure liquidity transfer between the Cardano and Ergo blockchains.
With ErgoDEX, users can have shared liquidity among different trading platforms on both the Ergo and Cardano ecosystems.
The team has already developed a classic automated market maker (AMM) and is preparing to launch a decentralized order book in the near future.
More DEXes Eager to Launch on Cardano
ErgoDEX launch on the Cardano testnet marks a surging interest in the number of decentralized exchanges seeking to be deployed on the network.
Since the Cardano smart contract functionality was enabled, over six decentralized exchanges have gone live on the network, more are still eager to join the blockchain.
Decentralized exchanges are flocking to Cardano because of its mouthwatering features such as speed, low-cost transactions, and the ability to scale effectively.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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