AdaSwap, one of the first-ever decentralized protocols on the largest proof-of-stake network, Cardano (ADA), is releasing its token via the IDO launchpad.
AdaSwap’s ASW goes live on CardStarter: Details
AdaSwap, a noncustodial cryptocurrency exchange on the Cardano (ADA) blockchain, announces the launch of its first token sale.
ASW, AdaSwap’s native utility asset, will be released to the public on CardStarter, the most popular Cardano-centric launchpad for initial decentralized exchange offerings (IDOs).
As part of this token sale, AdaSwap will allocate 80 million tokens. Initial token sale prices are set at $0.005. Thus, the hard cap for the IDO is limited at $400,000.
This allocation will be unlocked in two batches: the first portion of tokens will be released immediately upon TGE, while the remaining 50% will be transferred to investors within 30 days.
Itay Levy, CEO of AdaSwap, stresses the crucial importance of this milestone for the progress of his product:
A launchpad is a very important starting point for the lifecycle of any project, it establishes the base for which strong beams must be built upon. At AdaSwap, we have chosen the best launchpad for the strongest of bases. We are really excited to be working with CardStarter in order to bring AdaSwap to the world!
One-for-all DeFi ecosystem for Cardano (ADA) enthusiasts
Brandon Kazakoff, COO of Cardstarter, is sure that AdaSwap’s IDO is a pivotal moment for the entire DeFi ecosystem of Cardano (ADA):
In order for the potential of the Cardano ecosystem to be realized, concrete realities must be brought into alignment with the Cardano ethos. It is incumbent on all those who share this ethos to extend our support to the builders, creators, and projects working to lay down the infrastructure of decentralized finance on Cardano. I believe that ADAswap has an important role to play in this regard. The ecosystem is rapidly taking shape, and I am more confident than ever that the future of DeFi is bright, close at hand, and built on Cardano.
AdaSwap is a holistic decentralized finance (DeFi) ecosystem on Cardano (ADA). Besides seamlessly swapping Cardano-based tokens, it allows clients to provide liquidity to Cardano-centric pools and to trade on an NFT marketplace.
ASW token is also a native Cardano asset, so it can be exchanged on AdaSwap for any other asset issued on this blockchain.
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