Kadenaswap

Kadenaswap is a multi-protocol decentralized exchange (DEX). It will utilize Kadena’s 20-chain sharded and scalable layer-1 public blockchain with 480,000 transactions per second capability. Major DeFi projects are looking at alternative blockchain platforms, including “CeFi,” which leverages centralized exchanges’ scalability. There are also layer-2 networks, which push transactions off-chain and can raise the centralization concerns seen in the Lightning Network. Taking a different approach, Kadenaswap instead leverages Kadena’s multi-chain scalability to keep the “De” in DeFi by scaling on the base layer, using decentralized bridge technology in Pact for access to major protocols, no matter what chain they originate on. Kadenaswap will leverage the Pact smart contract language to interoperate with major DeFi protocols and coins such as BTC, CELO, DAI, DOT, LINK, and ETH. It will also launch in stages, beginning with the creation of native decentralized bridges to Ethereum as well as other networks such as Cosmos and Polkadot. Kadena’s founders bring proven financial and technical expertise from building J.P. Morgan’s first blockchain and previously working at the U.S. Securities and Exchange Commission (SEC). Additionally, as the first layer-1 multi-protocol DEX, Kadenaswap will create opportunities for automated market makers (AMMs) to balance liquidity across networks. Toward this end, a governance token named KDAX is under consideration to allow stakeholders to participate in setting incentives and other mechanisms. The first stage of Kadenaswap, which will include major components such as bridges, ERC-20 wrapped tokens, etc. will go live in 2020 Q4. To increase the ease of building applications on Kadena’s blockchain, whose production-ready scalability ensures low gas fees, the company is offering developers one month of free gas during October 2020. The month of free gas is accompanied by the launch of Kadena’s developer engagement program.