ErgoDex is a decentralized exchange that lives on the Ergo mainnet and is making its way to the Cardano blockchain. It already works well on ERGO and it promises to deliver its features on Cardano aswell.
As of yesterday the DEX went live on Cardano testnet, this is the final step before it launches on the mainnet. The testnet exists for users to test the DEX with free tokens and report any bugs that they encounter. This helps the developers to have a smoother launch on mainnet, it's a stage to correct bugs that weren't found by developers on their testing phase.
What can users do on the ErgoDex testnet?
Users can collect free Cardano test tokens on the Cardano testnet faucet, this faucet gives you 1000 test ADA tokens that are worth nothing and are only meant to test features. Next, users have to download a compatible wallet like Nami, Gero or Eternl. Setting up these wallets is easy and after setting it up users need to make sure that they activate the testnet on the wallet. Don't forget to store your seed phrase safely. Now users just have to receive the test tokens on their wallets.
Now everything is set to test ErgoDex, users have to go to the website, ergodex.io, and connect their wallet. After the wallet is connected users can swap their test tokens to any of the tokens that are available on ErgoDex testnet, after that they can provide liquidity to any pair they choose. This will ensure that users are comfortable with ErgoDex and that the DEX hasn't got any bugs. Users can play with their free tokens to understand how it works.
ErgoDex made a reference to store the seed phrases safely because it might reward early testers with real tokens later. This is a good incentive for users to use the testnet, the possibility of being rewarded in the future is always good and nobody knows how valuable this reward might be. There are talks about an ErgoDex gorvenance token, they might deploy it and gift some to early testers, so make sure to not miss the oportunity to earn free tokens, even if nothing comes at the end which is highly unlikely, you gained some experience using DEXs for free.
ErgoDex aims to be a major DEX on Cardano, it already is a great DEX on ERGO and works very well, ERGO uses the same system as Cardano, so ErgoDex already knows how to make things work on this system.
Lets hope that all goes as planned and in some weeks we will be using ErgoDex on Cardano mainnet.