Zug, Oct. 4, 2021 — OccamX, one of the first decentralized exchanges (DEXs) built for the Cardano ecosystem, unveiled its first OccamX DEX demo on Monday — complete with a working solution for the unspent transaction outputs (UTXO) Cardano concurrency challenge.
OccamX is built by the Occam.fi team, a decentralized finance (DeFi) ecosystem tailor-made for Cardano and backed by official Cardano entities Emurgo and IOHK through cFund. Working closely with its partners and a team of Plutus Pioneer alumni developers, OccamX aims to become the leading DEX solution for Cardano native tokens (CNTs).
The demo, narrated by Occam.fi technical writer Conor Devlin — author of the concurrency article quoted by Cardano founder Charles Hoskinson — shows for the first time a working solution for the concurrency problem. “Concurrency” is a theoretical problem in UTXO-based accounting models, in which simultaneous interactions with smart contracts occurring within a single transaction pose inherent technical challenges.
A source of debate within the blockchain community, concurrency needs to be overcome in order to have fast, efficient DEX capabilities on Cardano. Now, in OccamX’s first-of-its-kind demo, viewers can see and verify how two simultaneous swaps can be made in a single transaction on the Cardano network.
Max Mironov, product lead at Occam.fi, says:
“We are immensely proud to have reached this major milestone for OccamX — one of the first usable DEX platforms on the Cardano mainnet. While our current solution introduces some centralized elements, we are quickly iterating new, fully decentralized solutions to concurrency, and expect OccamX to be a powerful DEX with a seamless user experience. Liquidity and swaps for Cardano native tokens are here.”
OccamX will be supported by OCX, a DEX token that can only be attained through contributing to the Occam.fi ecosystem. Contribution methods include delegation to the pOCC stake pool on Cardano, staking of OccamRazer OCC tokens, liquidity provision for OCC on Uniswap and holding OCC as a Cardano native token.
You can delegate ADA to the pOCC stake pool in return for OCX through Daedalus, Yoroi, AdaLite or other wallets that support ADA staking. Find OCX’s pool information here. More details on reward ratios and distribution timelines will be provided shortly. Read more about how to get OCX here.
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/occamx/home
- Twitter : https://twitter.com/occamDEX
- Reddit : https://www.reddit.com/user/OccamFi
- Discord: https://discord.gg/9eQbAkPj7K
OccamX is a Uniswap-like decentralized exchange built for the Cardano native token ecosystem. Developed by the team at Occam.fi and officially backed by Emurgo and IOHK through the cFund, OccamX is set to become the most significant swap ecosystem for the Cardano ecosystem. The OccamX DEX is powered by the OCX token, which can only be gained by contributing to the Occam.fi ecosystem. Learn more at www.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 www.occam.fi.