Cardano based decentralized exchange Cardax raises $1.5 million

A fully Decentralized exchange “Cardax” has raised $1.5 million from their first community token sale. They will fully operate in favour of Cardano ecosystem.

Cardax stated in a statement that they raised around $1.5 million by Selling their native token “CDX”. And the raised fund will be used by them to support Cardano’s by launching their exchange in favour of Cardano Network’s ecosystem.

Cardano exchange will operate on the EAMM network and it will totally operate on cardano network ecosystem. It is expected that they may launch Cardano ecosystem based Cardex Exchange in September 2021.

After the Launch of this decentralized Exchange, people will be able to earn money by providing liquidity to earn CDX tokens. 

Earlier, the Cardex team announced that they raised $50,000 to use for the development of their Decentralized Cardex exchange. 

“The requested budget in Fund 4 ($50,000) will cover the implementation costs of Phase 1 of the project. As outlined above, this phase will focus on the system architecture and UI/UX of Cardax,

Probably this is going to be the best opportunity for the Cardano project. The Cardano team is working to bring a smart contract system on their network and are making their ecosystem more favourable for all possible projects but they are getting late to bring such kinds of features. So Cardex’s support  will surely stop criticism against the Cardano project at some point.

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