AdaSwap & Milkomeda: Here’s Everything You Need To Know
AdaSwap is pleased to announce the start of a collaboration with Milkomeda. Milkomeda extends EVM features to non-EVM blockchains, including Cardano via Layer 2 solutions as a sidechain. AdaSwap is a decentralized exchange (DEX) with an ultra-fast gasless automated market maker (AMM). This collaboration opens up a whole new world of opportunities between Cardano and non-Cardano ecosystems, and we’re already seeing some of them taking shape.
What Does AdaSwap Offer?
AdaSwap envisions building a thriving Cardano ecosystem. The ultimate objective is to onboard the crypto users into the DeFi world. The team at AdaSwap plans to create an ecosystem for a plethora of use cases such as Staking, Farming, Swapping, and much more. Additionally, AdaSwap offers high-impact technology to new projects set for a launch. AdaSwap has also introduced its NFT marketplace — ADANFT.
What Milkomeda Does Best?
Milkomeda offers the most popular smart contracting language, Solidity, to leading Layer 1 ecosystems. At the same time, it works to enhance cross-blockchain interoperability, connectivity, and developer attraction at the Layer 2 level.
New blockchain projects like (Cardano, Solana, Polkadot, etc.) all address scalability in a unique way. Therefore deploying side chains or rollups to increase throughput seems a less good maneuver. However, these blockchains lack robust developer communities and mainstream adoption that Ethereum has long enjoyed.
Milkomeda addresses this by building a sidechain with EVM-capability connected to the L1 main chains using its cryptocurrency as an underlying asset. In other words, as an example of Cardano, Milkomeda will enable the deployment of a sidechain for Cardano which connects to the mainchain and uses wADA (Wrapped ADA) as an asset to pay transaction charges.
For more updates, follow Milkomeda’s social media channels:
What Does This Collaboration Mean For The Users: Value Proposition
Milkomeda is the first launch on Cardano, giving EVM compatibility to the ecosystem envisioned initially in the Cardano roadmap. The EVM-based sidechain that will connect directly to Cardano, is the first-ever Milkomeda sidechain and the first-ever Cardano sidechain. AdaSwap is one of the first Cardano-based ecosystems to offer a gasless decentralized exchange and a robust Cardano native NFT marketplace.
Together AdaSwap and Milkomeda will pave the way for the integration of EVMs into the Cardano ecosystems. Utilizing Milkomeda, AdaSwap will integrate non-Cardano projects and smart contracts sooner with increased efficiency.
AdaSwap is powered by its native token $ASW. The tokens are Cardano Native Token (also known as a Cardano Asset), making $ASW easily interchangeable with other tokens based on Cardano’s network. With the integration of Milkomeda, the non-Cardano tokens can also be swapped and interchanged with ease. The feature provides users with non-Cardano tokens, more opportunities, and utility to their existing tokens.
So, don’t forget to follow AdaSwap’s social media channels to stay up to date with the all such exciting news: