Users of Minswap can now deposit cash in exchange for rewards and swap tokens in a decentralized manner as the DEX launches on the Cardano mainnet.
Minswap, a multi-pool decentralized exchange, had its Cardano mainnet debut earlier today.
Minswap completed its audit in partnership with Tweag, a concept-to-launch software innovation lab, Prior to the availability of smart contract capability, Minswap became live on the Cardano testnet in September.
However, because of a “concurrency” flaw that prevents token swaps from taking place, its launch was marred by criticism. Minswap stated it was working to resolve the issue after receiving reaction and mockery from Cardano opponents.
Minswap presently has $48.87 million in total value locked, according to statistics provided by cryptocurrency monitoring platform DefiLlama.
SundaeSwap, which launched on the mainnet in late January, has a total value of $121.75 million, making it the largest Cardano DEX for the time being.
Cardano pales in contrast to other “Ethereum killers” such as Solana and Avalanche, with only $172.46 million in TVL.
