AdaSwap – one of Cardano’s first decentralized finance (DeFi) protocols – recently raised $2.6M to build a new decentralized exchange (DEX) native to the developing blockchain. Funding was led by iAngels – a female-led Venture Capital firm – and included nine other leading VCs such as Shima Capital, Pluto Digital, and Coti.
Even the producer, model, and actress Gal Gadot, alongside producer Jaron Varsano, have taken part in the round.
Explaining the AdaSwap DEX
The AdaSwap DEX will allow users to swap Cardano native tokens and stablecoins, without relying on centralized exchanges. Its function will be similar to Uniswap, which is currently the most popular decentralized exchange on Ethereum by trading volume.
According to a press release shared with CryptoPotato, AdaSwap will “go hand in hand” with some of AdaSwap’s other protocols, including an upcoming NFT marketplace. The DEX will also reportedly include Defi capabilities, such as staking coins and earning interest f

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