Back to Newsroom
Back to Newsroom

Cardano Decentralized Exchange OccamX Reaches Key Technical Milestone

Wednesday, 18 August 2021 12:30 PM

Occam.Fi

ZUG, SWITZERLAND / ACCESSWIRE / August 18, 2021 / The Occam Association is pleased to share that progress on its OccamX decentralized exchange, built for the rapidly expanding Cardano blockchain ecosystem and its associated Cardano native tokens, has overcome key technical challenges and now nears completion. Occam.fi is a decentralized finance leader in the Cardano ecosystem with financial backing from official Cardano entities Emurgo and cFund (IOHK).

Occam.Fi, Wednesday, August 18, 2021, Press release picture

The improvements come amid the successful rollout of Alonzo Purple, ahead of the full release of the Alonzo hard fork and the arrival of smart contracts for Cardano in September. Occam.fi's developer team, who were participants in the IOG-led Plutus pioneer program, have now found and implemented a novel and entirely decentralized solution to the concurrency challenge, which arose out of Cardano's extended unspent transaction output accounting model. The solution uses an intra-block slot auction system to process multiple transactions simultaneously, which is essential for a fully functional and high-volume DEX. This solution and OccamX's other technology innovations are poised to make it the most truly decentralized DEX for Cardano.

Max Mironov, product lead at Occam.fi, said:

"With so many developmental milestones being rapidly rolled out by IOG for the Cardano blockchain, building a market-ready product to coincide with the launch of Alonzo is a real challenge. Nevertheless, Occam.fi's engineers have worked tirelessly, leveraging what they have learned through the Plutus pioneer program to ensure that our components are ready for the arrival of smart contracts on the Cardano mainnet."

The OccamX DEX looks to become the most significant, stable and decentralized for the early DeFi landscape on Cardano. OccamX's current expected launch date will place it among the first DEXs to launch on the Cardano blockchain.

Elliot Hill, head of communications at Occam.fi, said:

"The OccamX DEX is one of our first components fully built on and delivered for Cardano. Not only is it a significant step forward in our commitment to innovating within the Cardano ecosystem, but we also firmly believe it will become a highly important trading venue for the first projects launching through Cardano native tokens, and we're delighted to bring this functionality to the newly emerging Cardano blockchain ecosystem."

The OccamX DEX will be powered by its own DEX token, OCX, which enables users to participate in the governance of OccamX, including voting on DEX system parameters, project listing, and upcoming Occam improvement proposals. The token will also play a key role in liquidity provision on the OccamX platform. OCX tokens will be distributed to OCC token holders according to their stake and the length of time that they have staked OCC tokens.

More information on the OccamX DEX and OCX distribution will soon be available through an updated white paper and technical specifications in the near future, with a minimum viable product complete with a feature-rich UI expected in mid-September.

Follow Occam.fi's social media channels to stay up to date with the latest news:

Telegram official community - https://t.me/occamfi_com

Telegram announcements  - https://t.me/occamfi

Medium  - https://medium.com/occam-finance

Twitter  - https://twitter.com/OccamFi

Reddit  - https://www.reddit.com/user/OccamFi

About Occam.fi: The Occam.fi ecosystem is managed and maintained by the Occam Association, a Switzerland-based entity operating from the crypto-friendly Canton of Zug. When the Occam.fi ecosystem grows sufficiently, Occam.fi will be governed and steered by a carefully designed decentralized autonomous organization. Occam.fi is the first decentralized launchpad designed for the Cardano ecosystem, built with expertise and care from a veteran team of blockchain entrepreneurs and professionals. Learn more at Occam.fi's website.

Media Contact: 

RTC 
[email protected]
Website: https://RT.Capital

SOURCE: Occam.Fi

Topic:
Company Update
Back to newsroom
Back to Newsroom

Contact Us Today


If you have questions or want to learn more about our products, our team’s here to help!

Share by: