• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / DeFi / Cardano-powered multi-protocol DEX makes its debut
Cardano-powered multi-protocol DEX makes its debut

Cardano-powered multi-protocol DEX makes its debut

March 5, 2022 by Lipika Deka

Cardano-based Decentralized Finance or DeFi projects have been growing at a blistering pace after the launch of its most successful DEX- SundaeSwap. The latest to join the club is Bashoswap which announced its debut on the mainnet in the evening hours of 4th March 2022. The DeFi ecosystem is aiming to be a “multi-protocol package that ensures clear and easy usability and sustainability.”

As per the press release, Bashoswap is looking to bridge the gap between early-stage Cardano developers with early adopters, by creating an accelerator and native token exchanging platform allowing for shared liquidity. Besides that, the platform is working to bring a host of other new features that would be incorporated into the platform.

According to the white paper, one of its several goals is to facilitate a token swap protocol which will be done by combining deposited Cardano native tokens and ADA into a virtual pair utilizing the AMM technology.

The platform’s launchpad will utilize Cardano smart contracts, enabled by the Alonzo hard fork. This as per the post, would provide a much-needed boost to developers and projects that are seeking financial support with a transparent, efficient, and completely decentralized fund-raising platform.

Additionally, its native token- Bash will be used for staking, farming, and governance on the network. As per the announcement post, Bashoswap is currently running a private sale whitelist for early users who want to participate in the initiative. The total number of Bash tokens created will be 500 million.

Cardano-based Bashoswap and its team

Bashoswap which is led by Beri Ardas was founded in late 2021 by a group of blockchain experts with years of experience in the traditional finance and stock exchange markets. The core founding team is composed of developers and crypto enthusiasts with a deep knowledge of native assets, smart contracts on Cardano, and the overall blockchain ecosystem.

The team behind the DEX has also developed several other projects, like BashoLaunch, BashoStake, and BashoMint.

That said, Cardano’s total value locked is at its all-time peak at $140 million as per DefilLama with SundaeSwap leading the tally at $117.35 million. However, its dominance may soon be challenged by MinSwap, another AMM DEX that is set to launch by March-end.

Filed Under: DeFi, News Tagged With: Bashoswap, Cardano, DeFi

Primary Sidebar

Recent Posts

  • JPMorgan Begins Utilizing Blockchain for Collateral Settlements May 27, 2022
  • MetaMask Joins Hands With Asset Reality to Assist in Recovering Stolen Crypto May 27, 2022
  • Bitcoin knowledge, the biggest flex May 27, 2022
  • Fakesters use LUNA 2.0 airdrops to target users May 27, 2022
  • Tether-ing in Mexico May 27, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.