Thread by @fractal_artist

1/ This is @adax_pro DEX investor feedback thread
I am happy to see recent project updates! DEX UI looks cool and finally we have SC on the testnet. To celebrate this event I want to provide some feedback, unfortunately I was banned in TG group twice, so I'll do it here publicly

2/ For the record, the bans are understandable, there is a lot of FUD around ADAX, so admins have to be on a high alert always, it is sometimes difficult to distinguish between innocent question and FUD. But TG is not great platform for asking questions anyway!

3/ Before providing feedback, I'd like to point out that ADAX community is the most loyal and devoted I've ever seen! Some people spend all their day in the chat and fight the FUD. Sometimes it is hard for newcomers, but if they are not fudders, they become supporters themselves

4/
a) My first suggestion is about new CEX. I found out that it is exact copy of exmarkets.com except the color scheme and layout, the project that supported ADAX for a long time. I think it will be the best to put Exmarkets to the list of partners, new investors might

5/ ... find the similarity and that two projects from Lithuania support each other, but do not announce the partnership, confusing. Many Cardano projects struggling with listing on exchanges and will be happy to know that ADAX CEX was extensively tested already.

6/
b) I've also noticed that CEX account passwords are sent as plain text, unencrypted, on exmarkets.com (which means on cex.adax.pro also). I think the team need to comunicate this to Exmarkets team so it will be fixed both on ADAX CEX and Exmarkets

7/
c) 3rd is regarding the testnet SC. We knew that SC code was ready and the audit started months ago. Yesterday we were pleased to finally see a SC on a testnet! For me as a developer it would be cool to see previous testnet SC tests which were never shared unfortunately

8/ I understand that those tests were probably conducted on a private testnet, but there must have been some public testnet rehearsals before the yesterday demo, the geek inside me will be happy :)

9/ One of the reasons is that I am struggling to understand the demo transaction which was shared yesterday (testnet.cardanoscan.io/address/702db4…). On the video ()
we can see a 200 tAda sent using the Nami, but on CardanoScan we see it is split into 100 tAda + 100 tAda

10/ I am just learning plutus and didn't know that it is possible to split UTXO into two without paying transaction fees. Or is it somehow accounted for in the script? Is Min-Ada UTXO req for tAdax output also taken care of?

11/ Maybe it is accounted by the amount of tAdax tokents the user gets as a result of a swap? CardanoScan reports that 101 tAdax were received though, even more than 100 shown in DEX UI, but that could be just a bug which will be fixed later.

12/
d) Next one is regarding ADAX DEX model. We know since Septermber that the team has solved concurrency and it was reported that the solution is very scalable. It would be great to share details about ADAX orderbook model to show everyone why ADAX is the best DEX on Cardano!

13/ Right now we only know that it is one of the best models and has something to do with "splitting each order into smaller UTXO’s, which allows us to avoid congestion and abolishes any concurrency related issues" per cex.adax.pro/news/adax-chan…

14/ That sounds like a novel solution, can't wait to learn more about it! Does a split of sent tokens into two as shown in the demo tx makes the model twice as scalable and concurrent or there will be even bigger splits on release to scale it further?

15/
e) Next important suggestion is to collaborate with IOHK more. The team is joking about @SundaeSwap close communications with IOHK, but I think IOHK will is open to help ADAX too! At least that is what
@IOHK_Charles said in one of AMAs

16/
f) One of the things I am the most excited about is the interview with devs or CEO! There more than 26 people in the team, but so far we have seen/heard only CMO Dovydas. ADAX devs are not very social and talkative, that is common for devs though. I think it will happen aft..

17/ ...er the launch
g) As an ADAX investor I am a little bit impatient about gate_io listing. It has started in early October, but later it turned out that it wasn't gate_io but some scammers instead. The team had to resubmit papers in mid November, but the process ...

18/ ... still seems a little bit slow. My impression is that even some shitcoins listed on gate.io pretty fast, I think we have someone in Cardano community who had experience with gate.io and can help to speed up the procecss.

19/
h) Just a minor idea, the ADAX auditor BtBlock is not very well known, I suggest to conduct a second audit before the launch with auditor of higher caliber. BtBlock hasn't provided any Cardano audits before and neither the audits of projects of ADAX weight it seems

20/ In conclusion I want to say that I can't wait to see the ADAX launch, the UI is the best DEX UI I've seen so far. People spread a lot of FUD around like this medium.com/@boulevardofbr… but it is debunked by the team, after the launch it will become obvious that it was wrong

21/ I hope the team will address every a-h letter points. Thanks for all the hard work!

#Cardano #CardanoCommunity #ADAX

You probably should try reading this thread between the lines. Or not. NFA in any case, just some things to be aware of