"Not your keys, not your coins" is a common refrain in the crypto world. It means that if you don't control the keys to your wallet, you don't control your coins. The implication is that if someone else has your private key, they essentially own your assets.
This is a problem that decentralized exchanges (DEXs) have been trying to solve. DEXs are exchanges that don't rely on a third party to hold your funds. This makes them more censorship-resistant and trustless than traditional exchanges. However, many DEXs are still custodial, meaning that you have to trust the exchange not to steal your coins.
ADAX DEX Launches
ADAX is a new DEX that is launching on Cardano. It is non-custodial, meaning that you control your keys and therefore your coins. It is also instant, meaning that you can trade without having to wait for confirmations. It is also much cheaper than the Ethereum network, making it a more efficient way to trade.
ADAX is built on top of Plutus smart contracts. This allows it to be fully decentralized, while splitting each order into smaller UTXOs to avoid any concurrency issues. The UX team has spent countless hours making sure that the user experience is both intuitive and frictionless.
Further, ADAX is integrated with Nami, and GeroWallet, and CCVault to come in the next couple of days. It has many more API-based integrations planned for the immediate future. The platform has had an oversubscribed private sale, and a tremendously successful IEO on ExMarkets, and most recently, its list of valued relationships has expanded to include World Mobile providing their innovative blockchain telecomms network, Netvrk, BlackDragon, and Charli3, who will provide decentralized oracle services native to the cardano blockchain.
ADAX DEX offers a powerful trading tool, empowering traders to re-calibrate their investments based on early signs of changing "social sentiment", powered by a partnership with Stockgeist.ai. By utilizing the data scraped from social media sites like Twitter, Facebook, Reddit and Discord, ADAX's traders will know which tokens are getting hot and which are cooling down, thus stretching their lead over the competitors even further.
How Else to Keep Your Tokens Safe
Anyone who's been in the crypto space long enough knows that non-custodial solutions are key to keeping your tokens safe, which makes ADAX a strong contender for those looking for a safe
and a secure place to trade.
In the interests of security, however, users should note that there are several other best-practices that should be taken into account when trading cryptos, even on a non-custodial platform. For example, it's always a good idea to use a hardware wallet to store your tokens, as this will provide an extra layer of security in the event that your computer is hacked or compromised.
Additionally, it's important to be aware of the various scams and phishing attacks that are constantly being waged against crypto holders. Always make sure you are dealing with a reputable and legitimate platform, and never give away your personal information or login credentials to anyone.
Finally, it's important to remember that the crypto market is still relatively new and unregulated, so it's always important to do your own research before investing in any new tokens.
Ultimately, those looking for a safe and scalable Cardano-based DEX will be excited to try out ADAX.
