Minswap Targets Binance Listing to Revitalize Cardano Ecosystem

Cardano leading DEX, Minswap, has applied for a Binance listing to boost exposure and liquidity. The upcoming Minswap V2 upgrade aims to enhance platform functionality and user experience.

The Cardano ecosystem has faced challenges like poor marketing, limited third-party support, and a lack of widespread appeal, resulting in a market cap decline and stagnant prices for Cardano Native Tokens (CNTs). Despite this, Cardano’s top decentralized exchange (DEX), Minswap, is taking proactive steps to address these issues by applying for a token listing on Binance, the world’s largest exchange.

Cardano Native Tokens Underrepresented

Minswap recently revealed its application for the Binance Listing program, signaling its ambition to expand its presence. The platform also sought suggestions from its followers about other centralized exchanges (CEXs) for potential listings. Currently, Cardano Native Tokens lack representation on major CEXs, with notable exceptions like COTI and AGIX trading on Binance. Other significant projects, such as World Mobile Token, SNEK, and Minswap itself, have not yet achieved this milestone, limiting their exposure and liquidity opportunities.

Binance recently encouraged high-quality small to medium crypto projects to apply for listings, aiming to foster a healthy industry. The exchange noted that many promising projects launch with high valuations and low initial circulating supply, creating an unfavorable market structure for retail participants and hindering long-term prospects. Binance believes a listing can help these projects achieve corresponding buy-side demand and capital inflows, addressing issues of high valuations and low initial circulating supply, which leaves little sustainable upside for traders post-token generation.

Minswap Upgrade on the Way

Minswap is seizing this opportunity alongside an imminent upgrade. The Minswap V2 upgrade is scheduled to launch shortly after the completion of its bug bounty phase, set to conclude on June 30. This highly anticipated upgrade aims to address the limitations of the previous version while introducing advanced features designed to enhance user experience and overall platform functionality.

New V2 features include auto-routing capability, leveraging a smart order routing algorithm to search multiple liquidity pools and identify the most advantageous prices for token swaps. Users can choose their preferred execution route, with the most cost-effective path recommended. Additionally, V2 will introduce advanced order types like limit orders, stop orders, and OCO (One Cancels the Other) orders, enabling traders to implement sophisticated strategies.

Minswap V2 also promises a significant throughput improvement, capable of processing up to 36 token swap orders per batch—a tenfold increase compared to the previous version. This improvement is achieved through optimizations, including the utilization of the Aiken compiler and specialized techniques for efficient validation and indexing, expected to alleviate congestion during high-traffic periods for a smoother trading experience.

The MIN token saw a 1.6% increase over the last 24 hours to trade at $0.02708, and a 6.4% rise over the past month, at the time of writing.

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