AXO Finally Makes Public Debut

After a two-year wait, AXO, the latest decentralized exchange (DEX) provided by the Cardano Foundation, has officially made its debut on the public testnet. This allows users to test its innovative trading features, gain hands-on experience, and provide valuable feedback before the platform goes live.

Cardano (ADA) users can now explore a range of newly minted tokens with no intrinsic value for trading, offering insight into the future functionality of the platform. Interesting aspects of AXO include a user-friendly interface for beginners, a more advanced trading interface with viable strategies, indicators, algorithms, and bots, on-chain programmable swaps, and more.

AXO stands out as one of the most sophisticated DeFi platforms that Cardano has to offer, making it a superior choice to competitors like MinSwap and Indigo. Understandably, the launch of AXO generated an overwhelmingly positive response by the community, leading to high traffic on the platform.

However, amid the excitement, some testers raised questions about the underlying infrastructure of the trading platform. Ilya Oskin, Co-Founder of Cardano DEX Spectrum Labs, Inc., criticized AXO, particularly its UTxO-based Order Matching Engine. He noted that the infrastructure seemingly did not allow users to conduct other transactions until their orders were executed on the blockchain due to how it was programmed.

In addition to the feedback and queries regarding the trading platform, some users reported encountering issues with its front end. AXO promptly addressed this as a minor problem with UTxO selection on the website and stated that they were actively working on a solution.

It must be said that although this latest offering by Cardano is promising, the platform is nevertheless playing catch-up with competitors like Solana (SOL), Ethereum (ETH), and Polygon (MATIC), which have had a head start of several years.

However, as platforms like AXO make their entrance, Cardano has the potential to narrow the gap and establish itself as a strong contender in the DeFi space going forward.

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