DEX Ada Swap Officially Joins Blockchain Cardano, After Two Years Of Development

DEX AdaSwap has aired on the Cardano network. (Photo; Doc. AdaSwap)

JAKARTA Decentralized exchange (DEX) on Cardano blockchain, AdaSwap, officially launched on November 28 yesterday. This is the first DEX built on the Cardano network.

According to a Coinpeaker report, in its latest development, the total number of smart contracts running on Cardano Plutus has jumped 300 percent year-on-year. Monday, November 28 yesterday, the developer officially released the AdaSwap mainnet after its time-consuming development process of up to 2 years.

AdaSwap was one of the first projects launched aboard the Milkomedia Network. This is a new protocol that brings EVM (Ethereum Virtual Machine) capabilities to blockchain networks like Cardano. In June, AdaSwap launched its testnet version.

"After 2 years of intense growth and development, AdaSwap is pleased to announce the launch of our DEX on the mainnet! This is not our first big achievement, but this is definitely the most exciting!" wrote AdaSwap's announcement on Twitter @adaswaapp, November 29, 2022.

The DEX AdaSwap project received funding support from a number of leading venture capital companies (VCs) such as Banter Capital and Finova Capital. Meanwhile, the number of smart contracts that entered the Plutus Cardano blockchain broke 3,811 from various crypto projects.

At the beginning of the year, there were 927 smart contracts running on the Plutus platform. thus, this marks a surprising 300 percent jump this year.

"According to data collected from Cardano Blockchain Insights, the total number of smart contracts based on Plutus, a smart contract platform by Cardano, stands at 3,791. This value represents 300% or 2,844 growth in 2022 after recording 947 smart contracts on January 1," said Martin Hiesboeck, head of research at UpHold.