In a press release on September 4, OccamX, one of the first decentralized exchanges created for the Cardano ecosystem (ADA / USD), announced the presentation of its DEX demo.
The DEX demo, called the OccamX DEX demo, will also have a working solution for UTXO Cardano concurrency challenges.
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OccamX DEX was built by the Occam.fi team, which is a DeFi ecosystem and is tailor-made for the Cardano ecosystem and supported by various Cardano entities, and IOHK and EMURGO through cFund.
OccamX aims to become the leading DEX solution for Cardano’s native tokens (CNT).
OccamX DEX Demo
The OccamX DEX demo, the first of its kind, is designed to overcome concurrency needs to become a fast and efficient DEX in Cardano. The demo will allow users to view and verify two simultaneous exchanges in a single transaction in the Cardano ecosystem.
Concurrency is an issue that affects UTXO-based accounting models, resulting in technical errors for simultaneous transactions performed using smart contracts.
In the press release, the product leader at Occam.fi, Max Mironov says:
“We are immensely proud to have reached this important milestone for OccamX, one of the first usable DEX platforms on the Cardano mainnet. While our current solution features some centralized elements, we are rapidly iterating new, fully decentralized solutions for concurrency, and we expect OccamX to be a powerful DEX with a seamless user experience. Liquidity and swaps for Cardano tokens are here «.
According to the press release, the native OccamX token will be named OCX and will be obtained by contributing to the Occam.fi ecosystem.
To contribute to the OccamX.fi ecosystem, individuals can participate in “delegation to the pOCC stake group in Cardano”, “provision of liquidity for OCC in UniSwap”, “holding OCC as a native Cardano token” and “betting tokens OCC from OccamRazer. «
When it comes to delegation to the pOCC, people can delegate ADA (the native token of the Cardano network) to the Stakepool to get OCX tokens.
The OCX tokens earned will be distributed through Yoroi, Daedalus, and ADAlite, among other wallets that support ADA participation.
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