invezz.com
In a press release on September 4, OccamX, one of the first decentralized exchanges built for the Cardano (ADA/USD) ecosystem, announced the unveiling of its DEX demo.
The DEX demo, called OccamX DEX demo, will also have a working solution for the UTXO Cardano concurrency challenges.
OccamX DEX
OccamX DEX was built by Occam.fi team, which is a DeFi ecosystem and is tailor-made for the Cardano ecosystem and backed by several Cardano entities, and IOHK and EMURGO through cFund.
OccamX aims to become the leading DEX solution for the Cardano Native Tokens (CNTs).
OccamX DEX demo
The OccamX DEX demo, the first of its kind, is designed to overcome the concurrency needs to become a fast efficient DEX on Cardano. The demo will allow users to see and verify two simultaneous swaps in a single transaction on the Cardano ecosystem.
Concurrency is a problem that affects the UTXO-based accounting models resulting in technical errors for simultaneous transactions done using smart contracts.
In the press release, the product lead at Occam.fi, Max Mironov says:
“We are immensely proud to have reached this major milestone for OccamX – one of the first usable DEX platforms on the Cardano mainnet. While our current solution introduces some centralized elements, we are quickly iterating new and fully decentralized solutions to concurrency, and expect OccamX to be a powerful DEX with a seamless user experience. Liquidity and swaps for Cardano tokens is here.”
According to the press release, the native token of OccamX will be referred to as OCX and it shall be attained by contributing to the Occam.fi ecosystem.
To contribute to the OccamX.fi ecosystem people can participate in the “delegation to the pOCC stake pool on Cardano,” “liquidity provision for OCC on UniSwap,” “holding OCC as a Cardano native token,” and “staking OccamRazer OCC tokens.”
When it comes to the delegation to the pOCC, people can delegate ADA (the native token of the Cardano network) to the Stakepool to get OCX tokens.
The earned OCX tokens will be distributed through the Yoroi, Daedalus, and ADAlite among other wallets that support ADA staking.