Source : zycrypto.com
Cardano-based decentralized exchange (DEX), Do.Exchange (DOEX), will be holding its public sale on KICK.IO, a Cardano-based fundraising platform, and project accelerator. The public sale is billed to commence on 6 December at 12:00 PM GMT +2. 17% of the total supply (23.8 million tokens) will be available for sale at $0.11 per token.
The DOEX is part of the blockchain company’s strategy to make Cardano the leading cryptocurrency. The DEX will have its own automatic market-making protocol as an exchange exclusive to Cardano.
Armed with self-enforcing smart contracts, DOEX will facilitate trustless and efficient financial transactions between market participants. It will also help to boost liquidity within the Cardano ecosystem to make it a better hub for trading digital assets. Speaking on the project, the DOEX team said the DEX is meant to also bring interoperability between blockchains to ensure seamless inter-chain swaps.
“Our vision is to become the first Cardano-based DEX, ensuring interoperability across chains and allowing for the seamless swap of tokens both on the Cardano blockchain and other ones like Ethereum via a fool-proof bridge or converter.”
In the long term, the project is expected to expand to provide all-around services in the Cardano blockchain, including staking and asset management among others. DEX will be a truly decentralized protocol driven by the community of token holders who have voting rights and determine changes to be made on the project.
Apart from governance rights, the DOEX token will be used to incentivize members of the platform, to pay for fees (swap and slippage), participate in liquidity pools, and pay rewards to liquidity providers. DOEX plans to expand greatly in the near future through strategic partnerships with key stakeholders and established blockchains to drive mass adoption and to secure long-term investors after the public sale.