Cardax fans are enjoying a very good time. The Cardax team achieved a major milestone during their internal testnet when they completed the first complete user round-trip. The user creates a pool by registering for it, then submits an act. Once the action has been merged, all actions merged are executed.

As if that weren’t enough, Cardax has plenty of more developments and noteworthy events to look forward to.

What’s Cardax?

Before investing in a project, it’s important to fully understand its details. Cardax is actively trying to establish itself as one the top DEXs and is an influential figure behind the decentralized finance development in alternative to. Cardax, Charles Hoskinson’s brainchild, is the top DeFi project in Cardano and is one of the best initiatives in today’s industry.

Audit set for March 28th

Cardax currently is focusing on Tweag’s audit that will commence on March 28th. “We are really thrilled to have Tweag audit our DEX. Their crew produces high-quality work and is knowledgeable about programming languages “, says Ryan Morrison, Cardax’s creator and CEO.

So far all indicators for audit date remain green. This indicates that most of the previous work has focused on improving the standards to ensure that auditors are able to understand the code and have an easy entrance.

Project Catalyst

Project Catalyst was first to finance Cardax for its development of a Cardano-based decentralized exchange. The group was eventually able to obtain more funds for the same endeavor. The team was elected by Cardano twice and wants to help others with Project Catalyst financing.

The ‘Project Catalyst Course‘ was launched on March 15th and is specifically designed to assist individuals learn how to engage in Project Catalyst so that they may achieve comparable success as Cardax. This course is entirely free. It includes many parts such as instructions on how to participate, the voting system, and what happens after donations have been received.

COTI Partnership

Cardax is excited to announce its collaboration with COTI, which shall be the official issuer of Djed, Cardano’s algorithmic stablecoin. Cardax DEX accepts Djed, and will offer trading pairs that use Djed or its reserve currency, Shen to all. Stablecoins, which are an essential component of DeFi provide customers seamless access to their crypto assets. Djed will therefore implement this natively in the Cardano Blockchain.

The introduction of Djed will allow Cardano to offer new trading options and investment opportunities. Djed is a stable, decentralized crypto-backed currency which offers security and openness for the Cardano Defi environment.

“We are extremely thrilled to cooperate with COTI for the integration of Djed into our DEX,” stated Ryan Morrison. He further stated that “stablecoins are a vital part of this sector, so we are delighted to create a platform where Djed may find liquidity and consumers can trade a reliable currency local to the Cardano ecosystem.”

Important dates

Cardax currently has many things going on. You should therefore be aware of important dates to ensure that you don’t miss any significant events.

Cardax will open the testnet to public users on 12 April. Additionally, the team will be conducting testing for approximately a month before launching on to the mainnet on May 16. The 28th March is also important as that is when Tweag will begin the audit. It will take approximately 3 to 5 week to complete.

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