CanonX.Finance, a Cardano blockchain project accelerator & fundraising platform is now live. DEX development, a borrowing/lending platform, and Oracle integration wiil be offered by CanonX.
Alonzo’s recent hard fork has added DeFi and smart contract functionality to the Cardano blockchain. Developers can now use Cardano to build dApps, DeFi platforms, and non-fungible tokens.
Cardano’s blockchain appeals to early-stage companies for many reasons, including:
- Security: Cardano’s Proof-of-Stake protocol is highly secure, with 70% of ADA tokens staked.
- Multiple Layers: Cardano offers limitless scalability with quick settlement of transactions.
4-part ecosystem:
To support the launch of DeFi projects on Cardano, CanonX features a four-part ecosystem that includes creation of value behind IDO projects, DEX development, and a lending/borrowing platform that incorporates reliable off-chain data feeds to execute on-chain transactions.
Some of the main features of CanonX include:
- Launchpad: Drawing on the millions of Cardano token holders, the Launchpad will help early-stage companies receive the capital they need.
- CanonDEX: This decentralized DEX will support ADA through price feed transactions, market displays, and decentralized lending.
- Money Market: A borrowing and lending platform on which decentralized assets can be used as collateral for loans.
- Tech Services: CanonX oracles offer a general data protocol across transactions so there is consistency in how off-chain data is being fed on-chain.
$CANON token:
The CANON token is the utility asset that will power the CanonX IDO protocol platform and also allow holders to support their favorite projects by giving liquidity while receiving rewards. This will allow token holders to actively engage in the shaping of the CanonX ecosystem and Cardano network.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
