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List of Decentralized Exchanges (DEXs) Set to Launch on Cardano Blockchain

A few decentralized exchanges (DEXs), such as SundaeSwap, have launched on the Cardano blockchain, while the majority are getting ready to launch on the largest proof-of-stake (PoS) blockchain.

As published on cardanocube.io, the Cardano-focused information center, the list, and information related to these DEXs have been compiled below.

About AdaSwap

AdaSwap is an AMM (Automated Market Maker) platform that provides decentralized and noncustodial market-making for liquidity providers, built and utilized on top of the Cardano blockchain infrastructure. The algorithmic protocol compiles a comprehensive logic that is derived from built-in liquidity provision, decentralized autonomous organization (DAO), and non-fungible token (NFT) marketplace smart-contract characteristics.

AdaSwap’s main goal is to develop tools for creators and users, as well as bring high-yield staking pools and NFT content through our launchpads and marketplaces.

About DOEX

DOEX is a next-generation decentralized exchange for assets that are native to the Cardano Blockchain.

DOEX has amazing features that are set to bring exchange operations to the Cardano Community and take the DeFi ecosystem to the next level. These features form its core unique value proposition.

Some of DOEX’s outstanding features include multiple pricing functions for a single liquidity pool, trade routing, instant price feed via on-chain price oracle, and automatic babel fees redemption for Stake Pool Operations (SPOs) that is Cardano Blockchain-based.

DOEX’s mission is to become the first Cardano-based DEX, while ensuring interoperability across the chains and allowing for the seamless swap of tokens on the Cardano blockchain as well as other blockchains like Ethereum, all done via a fool-proof bridge or converter.

About Cardax

Cardax is a decentralized exchange that will be powered by the Extended Automated Market Maker (EAMM) protocol. It aims to provide liquidity to projects that issue native tokens on Cardano. Following the activation of the Mary hard fork on Cardano’s mainnet, which brought native tokens and multi-asset support to Cardano, there is an increased need to develop a native exchange. Additionally, with the upcoming rollout of the Goguen era, smart contracts will enable the development of decentralized applications on Cardano.

About SundaeSwap

SundaeSwap is a decentralized exchange built for the Cardano blockchain. It allows participants of the blockchain to provide liquidity and create a market for others to exchange their native tokens. In return, swappers pay a small fee and liquidity providers earn a return on their deposit. This and future whitepapers will outline an initial product modeled after the protocol popularized by Uniswap, with several innovative adaptations for the Cardano blockchain.

SundaeSwap is a decentralized exchange based on the Cardano network. It enables users to be able to swap, stake, lend, borrow, and more. The DEX launched on Cardano mainnet on 20th January 2022.

About ADAX

ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way. ADAX has no order book. It eliminates all intermediaries, complexity, and cumbersome procedures from the equation, offering users untrammeled freedom to trade without censorship or loss of control over their assets.

Users can maintain full control of their tokens and are not required to give up their private keys so that their orders can be logged as they are on a centralized exchange. In this way, decentralization is not just about user privacy but also about eliminating the risk of asset loss in the improbable event of exchange security being compromised.

About ErgoDEX

ErgoDEX is a decentralized exchange on the revolutionary UTXO-based blockchain Ergo (and soon Cardano) with a protocol built to be an efficient and secure financial contracts platform with radically new DeFi functionality and a proof-of-work protocol, built to be able to interact with the Cardano blockchain.

This cross-chain functionality will bring oracle pools onto the Cardano blockchain as well as the ErgoDEX with an order book that allows people to swap tokens on both the Cardano and Ergo blockchain.

About Ardana

Ardana is a DeFi hub built on the Cardano blockchain. The DeFi hub will provide Cardano’s users with tried and tested DeFi primitives that will catalyze and sustain its financial ecosystem. Ardana consists of six interconnected key components: a multitude of stablecoins backed by on-chain collateral, the Vaults component, the Oracle, Danaswap, the governance protocol that is powered by the exDANA tokens, and finally—the AREM module.

The Vaults component is a decentralized stablecoin platform that enables users to leverage supported Cardano native assets by generating stablecoins against locked on-chain excess collateral. The generated stablecoins will cover popular trading currencies such as the United States Dollar (USD), Great Britain Pound (GBP), and the Euro (EUR).

Users will be able to mint stablecoins of different currencies and swap between them on Danaswap, facilitating a rapid low-cost international foreign exchange system accessible to all.

About Minswap

Minswap is a multi-pool decentralized exchange on the Cardano blockchain. Users can swap tokens with minimal cost, minimal time, and maximal convenience via Minswap.

Minswap aims to bring an innovative multi-model asset pool decentralized exchange to the Cardano blockchain. It aims to be the best liquidity provider on the market by integrating the best asset pool models from across the DEX ecosystem into one protocol. The combination of stable pools, multi-asset pools, and concentrated liquidity will benefit both traders and liquidity providers.

Minswap offers a different approach, for instance, see the features highlighted in our Whitepaper such as multi-function liquidity pools, multi-pool routing, functioning as an on-chain price oracle, or automatic babel fees redemption. It also focuses more on building instead of fundraising.

About Ray Network

Ray Network is an advanced ecosystem for the Cardano blockchain platform. Our goal is to create the best multifunctional DeFi ecosystem for Cardano blockchain. XRAY is a governance token that powers Ray Network ecosystem.

This is well positioned for community-led growth, development, and self-sustainability token. Ray Network is an advanced open-source ecosystem for the Cardano blockchain platform. It includes a light wallet with many features such as: sending and receiving funds, DeFi swap, NFT marketplace, staking center, and others.

About ADA Finance

ADA Finance is the first DeFi Ecosystem on the Cardano blockchain that introduces affiliate incentives and brings transparency by utilizing decentralized price feeds to execute liquidations for margin traders on ADAFi Swap. Every action on ADA Finance is performed on the Cardano blockchain, and audited by a number of its partners.

About Matrixswap

Matrixswap is a decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot and the Cardano and Polygon [Ethereum Layer 2] blockchain. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. While most decentralized derivative trading platforms face liquidity concerns, the Matrixswap vAMM offers infinite on-chain liquidity.

Matrixswap also offers a DEX aggregator that features multi-token swaps, allowing users to batch several tokens under one transaction. Matrixswap aims to be a fully community-owned and governed Defi protocol in the long run.

About MuesliSwap DEX

On November 26, 2021, MuesliSwap successfully launched a decentralized exchange on Cardano mainnet, making it the first among many competitors to leap into this new era of DeFi on Cardano.

With MuesliSwap, a novel approach for modeling and implementing a DEX on Cardano is proposed by revisiting the traditional order book model. The exchange protocol draws from game-theoretic concepts and distinguishes itself from alternatives through simplicity, modularity, self-regulation, and full decentralization, thus paving the way for MuesliSwap to become the first operational DEX on Cardano.

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About OccamX

OccamX aims to become the leading DEX for Cardano Native Tokens by providing superior trade execution and a list of financial services. While having key crypto assets available on the platform, the goal of OccamX is to become the principal trading platform for decentralized spot and derivative trading.

The OccamX DEX is designed to be an integrated system, larger, more efficient, more liquid and fairer than its predecessors. The DEX will be powered by a more holistic governance model. The aforementioned holistic and elaborate governance layer will increase the amount of ‘good’ liquidity flowing towards the protocol.

About MeowSwap

MeowSwap combines a proprietary L2 scaling technology in conjunction with our DEX to offer the only working trading solution running on Cardano mainnet.

The DEX utilizes Cardano’s main chain to store deposits in a trustless way and log all deposits and withdrawals while L2 Nodes take the computational load on managing the exchange operations, liquidity pool managements transactions, and all data transactions.

About ByronDex

ByronDex is a decentralized exchange on Cardano that uses Order Book Pattern. It includes professional trading options, such as limit, stop loss, stop market and many other types of orders. With a team of experienced developers and crypto traders we are going to deliver functionality that the community expects.

Participants of the DEX are going to be given a choice to become a Trader, Liquidity Provider or Performer. Having various economic incentives one can decide which role fits their strategy best. In addition, ByronDex users are going to be able to use the wallet of their choice, whether that would be ByronWallet prepared specifically for ByronDex or any other integrated Cardano wallet.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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