{"id":4441,"date":"2022-05-26T09:33:12","date_gmt":"2022-05-26T09:33:12","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4441"},"modified":"2022-05-26T09:33:13","modified_gmt":"2022-05-26T09:33:13","slug":"ergodex-prepares-for-imminent-launch-on-cardano","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4441","title":{"rendered":"ErgoDEX prepares for imminent launch on Cardano"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/> \ud83d\udc4b Want to work with us? CryptoSlate is hiring for a handful of positions!<\/p>\n<p>The ErgoDEX team tweeted that they are two weeks into a testnet run and have been getting stable results. The next step is performance optimization and ironing out bugs before launching on the Cardano chain.<\/p>\n<p lang=\"en\" dir=\"ltr\">We have been running our Cardano testnet for around 2 weeks at this point. We are now getting stable results with swaps, adding and removing liquidity on a number of wallets.<br \/>From here on out, our goal is to optimise the performance of ErgoDEX and fix any issues that may occur!<\/p>\n<p>\u2014 ErgoDEX (@ErgoDex) May 24, 2022<\/p>\n<p>Recent times have seen criticism leveled at Cardano over its lack of dApp offerings, especially those pertaining to DeFi.<\/p>\n<p>DeFi Llama currently shows ten DeFi dApps on Cardano, four of which are inactive. Whereas Ethereum is home to 486 different DeFi protocols.<\/p>\n<p>Nonetheless, the imminent release of ErgoDEX will go some way to addressing concerns over the lack of dApps on Cardano.<\/p>\n<h2>Who is Ergo?<\/h2>\n<p>Ergo launched n 2019 as an advanced Proof-of-Work (PoW) chain, featuring technologies such as zk-proofs and adjustable block size, with the added twist of being ASIC resistant.<\/p>\n<p>\u201cErgo is a proof of work (PoW) blockchain platform with Turing complete smart contracts that employs a number of advanced features like zero-knowledge proofs, ring signatures, oracles, and adjustable block size.\u201d<\/p>\n<p>Proponents of ASIC resistance argue that it leads to greater decentralization, as there is no benefit to mining with ASIC machines compared to a GPU. As such, ASIC-resistant chains are minable by hobbyists and everyday people.<\/p>\n<p>The team partnered with the commercial arm of Cardano, EMURGO, in 2020, to explore research and develop stablecoin technology and \u201cthe provision of DeFi applications.\u201d<\/p>\n<p>One of the outcomes of this partnership is the ErgoDEX, which is due for rollout soon. However, the Ergo ecosystem also includes the SigUSD stablecoin.<\/p>\n<h2>What are the benefits to Cardano?<\/h2>\n<p>ErgoDEX will allow users to trade assets and provide liquidity much like any other DEX. But ErgoDEX will offer the added benefit of cross-chain liquidity and interoperability between the Ergo and Cardano chains.<\/p>\n<p>\u201cA noncustodial, decentralised exchange that allows a quick, effortless and secure transfer of liquidity between the Ergo and Cardano networks.\u201d<\/p>\n<p>It will also include CEX-like features such as limit orders, partial filling, and buy-back supports. Plus, by making use of \u201cmulti-stage contracts,\u201d users can also take advantage of timed-release payments. This is particularly useful in giving users the option to cancel orders if something goes wrong.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/ergodex-prepares-for-imminent-launch-on-cardano\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udc4b Want to work with us? CryptoSlate is hiring for a handful of positions! The ErgoDEX team tweeted that they are two weeks into a testnet run and have been getting stable results. The next step is performance optimization and ironing out bugs before launching on the Cardano chain. We have been running our Cardano [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-4441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4441"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4441\/revisions"}],"predecessor-version":[{"id":4443,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4441\/revisions\/4443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4442"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}