Adaswap is a DEX project backed by popular movie star Gal Gadot and Shima Capital. recently announced that on June 29, its testnet will go live. The testnet going live is an important breakthrough for Adaswap and the Cardano ecosystem in general.

This is the reward for the hard work that has been put in by the Adaswap team to create the first DEX in the Cardano ecosystem. Adaswap is also the first Milkomeda Network service to use the capabilities of the Ethereum Virtual Machine (EVM).

Adaswap’s Layer 2 solution is worth a little close to $36 million in terms of the Total Value Locked (TVL). This Layer-2 solution can be used by Blockchain developers to adopt Ethereum Virtual Machine (EVM) functionality to Blockchains that are not originally compatible with EVM. Following the testnet launch, Cardano’s fast-rising ecosystem will be able to support more sophisticated products and services.

Developers are curiously interested in what is Cardano’s first functional sidechain although also hopeful that they can use it to develop and enhance their projects. Thanks to Adaswap’s usage of Milkomeda, assets native to Cardano can enjoy speedy deployment and lightning-fast usability on decentralized exchanges.

AdaSwap itself is widely regarded as a high throughput, next-generation DEX specifically designed for the Cardano ecosystem.

As the first to market, Adaswap has a headstart on its competition when it comes to building an ecosystem around Cardano. Following its announcement and introduction, it will surely impact Dex and DeFi conversations.

Trading tokens, as well as creating, buying, and selling NFTs will be easier through the AdaSwap DEX. Members of the Cardano ecosystem will also be able to create new projects and invest in liquidity pools to earn rewards.

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