CARDANO'S FIRST MARKET MOVER ADASWAP
Launching on April 4th on Cardano (ADA) is ADASWAP which is marketed as Cardano's first ever market mover consisting of an NFT Marketplace and a gamified DEX. The launch gets a little confusing as there appears to be two ways of participating in the token launch and that is through a Strong Holder Offering (SHO) and an Initial Decentralised Exchange Offering (IDO). So let's take a quick look at both options before we move into the actual protocol.
ADASWAP IDO
The ADASWAP IDO commences in just over two days time and will be launching on the Decentralised Funding and Cross-Chain Token Launchpad Poolz. To join the IDO you will need to get whitelisted and you can do this by connecting your wallet Ethereum or Binance and clicking on the Join Whitelist butting.
It's not exactly free but it's also not that expensive to participate in the whitelisting. Not everyone who joins the whitelist will be presented the opportunity to purchase the token at $US0.005c as they will go into a lottery draw.
If you want a guaranteed spot in the IDO then you will need to shell out for some POOLz and stake them in the protocol but only the top 100 are guaranteed an offer in the IDO and the current 100th position has 3608.71 POOLz staked. At 0.01BNB each you'll need around 41.5BNB or 5.6 Ethereum worth of POOLz to get a spot.
Once successful and you purchase your tokens you will get 50% upfront and the other 50% one month after launch.
Community Campaign
another way is the community participation offer which has already launched and providing 50 lucky winners the opportunity to win $100 worth of ASW tokens for completing a set number of tasks surrounded around joining their community and engaging.
The campaign is open for just over 13 more days and at current there are 64,355 registrations participating in the campaign (at time of writing).
Strong Holder Offering
The other launchpad is the Strong Holders Offering which has two ways of participation which include holding a minimum of $US2500 worth of Ethereum tokens in your wallet or staking 2000 DAO tokens. Users will need to complete verification as well as Know Your Client (KYC) information to join the offering.
Participants are not all guaranteed a place to purchase the tokens but have an opportunity to.
What is ADASWAP?
ADASWAP recently was awarded $US2.6 Million in funding from leading VCs to commence building a decentralised exchange (DEX) and drive Decentralised Finance (De-Fi) on the ADA network.
The company hopes that the launch of ADASWAP will kickstart ADA's future and bring other projects to the network to develop.
Beyond being a DEX ADASWAP will also host an NFT Marketplace that they will be participating in curating of artists to support the sectors growth on the ADA network.
Throughout all of ADASWAPs emerging protocols they will utilise their native token $ASW with future plans to have it stakable and interchangeable between other ADA tokens.
It looks as if ADA is starting to make some moves despite the token being in a relatively high position it hasn't moved all too much and with the latest launch the network will receive some greater attention and an increase in utility.
What are your thoughts on ADASWAP?
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