Developers of the Kadena hybrid blockchain will launch a decentralized exchange (DEX) Kadenaswap on it. This is how they plan to attract projects running on Ethereum.
According to Kadena President Stuart Popejoy, the new DEX Kadenaswap, which will be launched later this year, will provide DeFi traders with an alternative Ethereum platform that can handle large volumes of transactions.
Popjoy said Kadenaswap will be able to process 480,000 transactions per second on the Kadena blockchain launched
earlier this year. According to him, the existing infrastructure of the Kadena “bridge”, which allows you to transfer KDA between chains through the Pact smart contract language, can be used in the work of DEX.
“We already have the final code with fully decentralized bridges, and this creates an interesting opportunity to create a Multiprotocol DEX,” Popjoy said.
As the Kadena President notes, Kadenaswap will encourage DEX market makers to “comprehensively” distribute their token pools to ensure adequate inter-network liquidity.
The new Kadena-based DEX can be seen as an alternative to Ethereum-based DeFi projects, which are struggling to cope with the increased network load and increased transaction
fees. However, the imminent launch of Ethereum 2.0 may change the situation – the developers plan to
launch a new version of the network in November.