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CanonX.Finance Launches Its Platform, to Work as Incubator for the 140+ DeFi Projects Launching on Cardano

By: Newsfile

Mountain View, California--(Newsfile Corp. - November 11, 2021) - CanonX.Finance is proud to announce about the launch of its platform, which aims at being the incubator for over 140 DeFi projects launching on Cardano. As DeFi is experiencing astronomical growth, industry needs an environment where smart contracts are fast, affordable, and easy to build. Serving over 140+ companies in the Cardano DeFi ecosystem, CanonX.finance is helping usher in the age of DeFi.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/8378/103151_capture_550.jpg

Figure 1: CanonX.Finance launches its platform, to work as incubator for the 140+ DeFi projects launching on Cardano.

The Era of DeFi on Cardano

With that said, the Alonzo Hard Fork is ushering in the age of DeFi and smart contracts for the Cardano blockchain. For the first time, developers can use Cardano to build decentralized applications, DeFi platforms, and non-fungible tokens.

Currently, over 140 companies are choosing to build DeFi applications on Cardano. Early-stage companies launching on Cardano are choosing the blockchain over others for many reasons.

Those include:

  • Security: Cardano's Proof-of-Stake is known for security with over 70% of all ADA tokens staked.

  • Multiple Layers: Scalability is limitless on Cardano with quick settlement for transactions.

CanonX.finance will serve as the ultimate incubator for the 140+ DeFi projects launching on Cardano. Some of the main areas of support that CanonX.finance provides will include DEX development, a borrowing/ lending platform, and oracle integration. The new era of DeFi is coming, and CanonX.finance is at the ground level supporting those projects on Cardano.

4-part Ecosystem

CanonX.finance will support DeFi projects launching on Cardano with a four-part ecosystem that includes creating value behind IDO projects, DEX development, innovative lending/borrowing platform, and oracle integration for reliable off-chain data feeds to execute on-chain transactions.

CanonX.finance accelerates DeFi projects launching on Cardano to build the next generation of decentralized financial applications.

Some of the main features of CanonX.finance include:

  • Launchpad: Tapping into the millions of Cardano token holders worldwide, the Launchpad will help early-stage companies receive the capital they need.

  • CanonDEX: This decentralized DEX will support ADA through price feed transactions, market displays, and decentralized lending.

  • Money Market: A borrowing and lending platform on which decentralized assets can be used as collateral for loans.

  • Tech Services: CanonX.finance oracles offer a unified general data protocol across transactions so that there is consistency in the way off-chain data is being fed on-chain.

$Canon Token

Token Type: Cardano Token

Token Name: CanonX

Token Ticker: CANON

Total Supply: 200,000,000 Tokens

Seed Sale of $Canon Tokens for early Adopters is live at the moment: https://sale.canonx.finance

$CANON token, is the utility asset that will power the CanonX IDO protocol platform and also allow holders to support their favorite projects by giving liquidity while receiving rewards. That will allow you, as a token holder to actively engage in the shaping of the DeFi landscape.

About CanonX.Finance

CanonX.Finance is a Cardano blockchain project accelerator and fundraising platform, leveraging DeFi innovations to provide transparent, efficient and fully decentralized crowdfunding services. It offers full support of Cardano native tokens and a suite of advanced DeFi tools that upcoming projects need to thrive and prosper.

Everything done by CanonX.Finance is governed by a philosophy of decentralization - funds raised are distributed directly to projects, tokens purchased are sent directly to the personal wallets of users without burdensome checks or unnecessary delay.

They also take financial sustainability and inclusion seriously, working diligently to ensure that their efforts benefit all stakeholders, helping to evolve the reputation and maturity of the DeFi industry.

Social Media Handles:

Twitter: https://twitter.com/canonxfinance

Telegram: https://t.me/canonxiDOLaunchpadcommunity

Github: https://github.com/CanonXfinance

Medium: https://medium.com/@CanonX.finance

Media Details

Company Name: CanonX.finance

Contact Name: Ethan Leblanc

Email: support@CanonX.finance

Website: https://canonx.finance/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103151

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