Bashoswap, a multi-protocol decentralized exchange based on the Cardano network, seeks to facilitate swaps between ADA and other crypto assets on Cardano.
Bashoswap DEX will be a new DeFi protocol on Cardano that will utilize automated market maker (AMM) protocol for token swaps. Bashoswap will follow the EUTXO protocol to create a trustless environment for the decentralized exchange of assets.
According to the team behind the project, Bashoswap’s mission is to create a fully-featured De-Fi product that will significantly benefit the Cardano ecosystem. To achieve its mission, Bashoswap will reportedly use existing elements on other blockchains like Pancakeswap and Uniswap to readapt them for the Cardano Blockchain. This will allow Bashoswap to create DeFi applications powered by its native token Bash. Bashoswap plans to introduce a single token design for liquidity pools instead of regular pool pairs. Bashoswap’s AMM two-tiered liquidity pool design also safeguards against malicious token listings and rug pulls.
At the core of the project is the Bashoswap native tokens, Bash. The Bash token will serve numerous utilities on the platform, including staking, farming, and governance. Currently, Bashoswap is holding a private sale whitelist for early adopters who want to join the project.
Bashoswap launchpad will leverage Cardano smart contracts o provide a transparent, efficient, and fully decentralized fund-raising platform. The Bashoswap team explains:
“Our launchpad will offer full support of Cardano native tokens and also boast of a suite of advanced DeFi tools that Blockchain startups on the Cardano blockchain need to thrive.”
Notably, Bash token holders who will have staked a certain amount of the tokens will be able to qualify for Bashoswap’s tiered allocation system. This will guarantee various allocations to early sales of projects launching through the platform.
In addition, each project that launches through the platform will contribute a certain amount to Bashoswap’s insurance treasury, providing stakeholders and investors with a sense of financial protection against potential project failure.
The Bashoswap development team has a long, hand-rich history working with crypto and fintech sectors. The team is led by Beri Ardas, who has years of experience in the crypto industry.
Source: https://zycrypto.com/bashoswap-to-introduce-decentralized-exchange-and-launchpad-on-cardano/
