WingRiders Decentralized Exchange (DEX) Launches on Cardano Mainnet.
WingRiders is the latest decentralized exchange that has made its official debut on the Cardano mainnet. The WingRiders team made the announcement today on popular microblogging platform Twitter.
“Psssst …. Have you heard [of it]? We are LIVE on [Cardano] Mainnet,” WingRiders disclosed in a tweet.
🚀🚀🚀🔥Psssst …. Have you heard? We are LIVE on Mainnet🔥🚀🚀🚀
— WingRiders (@wingriderscom) April 12, 2022
Information About WingRiders
The DEX launch has been widely anticipated by the Cardano community, including Charles Hoskinson, the CEO of Input Output Global (IOG), who noted in a tweet in January that he is looking forward to WingRiders launch.
“Really looking forward to this DEX on Cardano. There are so many coming online soon,” IOG CEO said.
WingRiders is an Automated Market Maker (AMM) decentralized exchange developed on Cardano that uses the famous eUTxO model on the network’s main chain.
Described as the DEX on Cardano, WingRiders allows its users to perform three basic functions such as swap, earn, and fly.
“WingRiders’ objective is to be an infrastructure element for the whole Cardano ecosystem, with simple integration into any wallet or dApp. Accessible via many platforms, supporting connectors and Hardware wallets such as Ledger or Trezor,” the DEX noted in its lightpaper.
The Cardano-based decentralized exchange was developed by Slovakian fintech software development firm VacuumLabs.
It is worth noting that the development of WingRiders is not the first time WingRiders will be building on the Cardano blockchain. The software company first got involved with Cardano in 2018 when it commenced the development of Adalite, a popular Cardano web wallet that has been widely adopted by the Cardano community.
Meanwhile, Bittrue announced that it has made an undisclosed amount of investment in WingRiders.
WingRiders TVL Soars
The exchange noted that it will be fully decentralized and will support swaps between all Cardano-based assets.
Despite launching on the Cardano mainnet a few hours ago, WingRiders has total liquidity of 36.04 million ADA and it is currently the third most valuable DEX on the Cardano network with a total value locked (TVL) of $33.54 million.
WingRiders Brings Two Stablecoins
According to a blog post published by WingRiders, the team has partnered with Flint Wallet and Milkomeda and their implementation of the Ethereum Virtual Machine (EVM) capability.
Following the partnership, WingRiders noted that it would be bringing two ERC-20 stablecoins, USDC and USDT, to the Cardano network.
“Wingriders is one of the most exciting DEXes to launch on Cardano and now they are bringing stablecoins!,” Hoskinson tweeted.
Wingriders is one of the most exciting DEXes to launch on Cardano and now they are bringing stablecoins! https://t.co/Rpsl9znhyl
— Charles Hoskinson (@IOHK_Charles) April 12, 2022