AdaswapGal Gadot’s decentralized exchange platform (DEX) on the Cardano network has launched its public beta testnet.
CoinJournal was provided with a press release that stated that Adaswap DEX (also backed by Shima Capital) would be live today, 29th June 2022.
According to the platform’s team, the testnet launch makes the project among the very first to tap into the capabilities of the Ethereum Virtual Machine (EVM).
The project went live on the Milkomeda Network.
Exploring blockchain interoperability
Adaswap launched the Milkomeda Network testnet, allowing it to enjoy the benefits and TVL of a layer-2 protocol that has more than $36 Million in TVL.
The team notes that one of the most important benefits for builders is the ability to deliver EVM capabilities on non-EVM compatible chains.
This, they added via the announcement, enables the extension of Cardano’s ecosystem to projects that seek to build advanced products and services.
Itai Levi, AdaSwap CEO, stated:
“Deploying on Milkomeda has allowed Adaswap to deploy at a rapid pace and bring lightning-fast usability to our DEX for Cardano native assets. We can’t wait for our community to explore these new opportunities and bring a new wave of liquidity to the Cardano DeFi ecosystem. We’re also looking forward to the blockchain interoperability benefits that Milkomeda will offer.“
Adaswap’s progress towards the launch has been steadily increasing over the past month. In early June, the team stated that they were determined in delivering this milestone despite challenging market conditions.
The Market might be 📉temporarily, but at #adaswapWe continue to build. And when the market comes back 🆙 we will be ready to🚀
— AdaSwap – The next-gen Cardano DEX! (@adaswapapp) June 7, 2022
Adaswap, a NFT marketplace, announced earlier in May ADANFT. launchedIn collaboration with Jonathan Paul (aka Desire to Obtain Cherish),