WingRiders is an AMM-based decentralized exchange ecosystem that builds on the strong foundations of the Cardano network. The goal is to create a trusted platform that allows users to exchange native Cardano tokens in a truly decentralized manner, with no middlemen or single points of failure.
In this article, we will discuss:
What is WingRiders and how does it work (FLY)?
WingRiders is an Automated Market Maker (AMM) decentralized exchange (DEX) built on top of Cardano using the eUTxO model on the main chain. The project is powered by VacuumLabs, one of the most respected developers in the Cardano space. WingRiders' goal is to be an infrastructure element for the entire Cardano ecosystem, with simple integration into any wallet or Dapp.
Accessible across many platforms, supporting hardware connectors and wallets such as Ledger or Trezor. The platform will be fully decentralized and trustless exchange between native Cardano tokens. Plans exceed AMM, L1 and Cardano itself.
The guarantees that WingRiders undertakes to provide include:
- Affordability – Cardano fees are much lower than other ecosystems like Ethereum.
- Anonymity – Anyone with ADA can interact with the WingRiders smart contract. We do not impose any other requirements to be as anonymous as Cardano.
- Reliability – Anyone whose order has not been fulfilled by the deadline specified in the order can easily retrieve it.
- Security – The code will be fully audited and its critical parts will be open source.
- Simplicity – The development team and designers are going through many iterations and have collected a lot of feedback to ensure that the WingRiders platform is user-friendly and user-friendly.
- Trust – No one has a higher priority and everyone is equal. Anyone can check whether requests were fulfilled in the order they were sent to the blockchain Cardano.
At the time of writing, test-net is already running. The launch of DEX on the Cardano mainnet is planned for the first quarter of 2022. In the case of the testnet, the WingRiders DEX is integrated directly into the NuFi wallet. However, the project's plans go beyond accessibility via NuFi alone, a direct exchange web-based platform is in the pipeline.
WingRiderse and Cardano
Cardano is considered a 3rd generation blockchain (1st generation = Bitcoin, 2nd generation = Ethereum). The reason why WingRiders chose to build the Cardano blockchain is because our team believes that to develop the ecosystem, Cardano requires a lightweight DEX-based browser that allows the entire community to participate.
and profit, while providing a way for future dApps to gain access to a secure and trusted platform through which to channel their exchanges. WingRiders' goal is to be that essential piece of infrastructure.
Cardano Differential
Cardano is coded in the functional programming language, Haskell. It also uses a new accounting/execution model, known as “Extended Unspent Transaction Outputs” (eUTXOs). The eUTXO model implements smart contracts more “passively” than an explicit function call and strongly discourages the use of global state.
The advantage of this approach is that Cardano avoids the high gas fees for settlement that make the Ethereum blockchain difficult. The eUTXO approach further refines the simpler UTXO model. In the UTXO model, money is tracked as a chain of custody, pointing to an output (unspent) of a previous transaction, which is then consumed as an input to a new transaction.
We want to be the best technically designed DEX in Cardano, period. WingRiders aims to be THE DEX in Cardano. It's not the only one, just the best, most feature-rich, friendliest in the community.
Purpose of WingRiders
WingRiders aims to build a first-rate DEX that supports other dApp developers, projects, and the ecosystem as a whole, acting as the “channel” for their exchange and exchange functions. WingRiders aims to lift Cardano as a whole.
The wing represents a symbol of freedom, while the Knights represent the group of strong heroes who help each other and are the community. Because they are a community anyone can be a Rider, and support other Riders and the ecosystem. The Mask Helmet represents a commitment to privacy.
Why choose WingRiders?
DEX platforms are Trustless, which means you are trading and exchanging via an AMM (Automated Market Making) system, which basically means you are trading via a codebase – It is important to consider who is building the DEX, and your experience writing code. In the case of WingRiders, the code is developed by Vacuumlabs, which has been in the Cardano space since its inception.
VL has developed code for IOHK, Emurgo and a number of other projects within the community. In total, Vacuumlabs has a team of over 250 developers, and while WingRiders is one of many projects supported by Vacuumlabs, this allows the project to quickly scale when demand demands. An added benefit is that DEX through its partnerships can quickly and easily integrate – making it accessible to NuFI wallet holders (a new launch product from Adalite.
It also gives you the added benefit of knowing that VacuumLabs, one of the main developers of Espaço Cardano, is writing the code. The Vacuumlabs/WingRiders Cardano development team is one of the most experienced in the ecosystem. They have spent time working on a diverse range of projects while supporting Cardano's growth. Very few teams have spent as much time developing wallets (Yoroi Mobile V1, Adalite and NuFi) or integrating them.
WingRiders DAO
The platform will be governed by an Autonomous Decentralized Organization – essentially governed by the community
via the platform governance token. A DAO is an organization designed to be automated and decentralized. It acts as a form of venture capital fund, based on open source and without a typical management structure or board of directors.
WingRiders believes it could eliminate human error or manipulation of investor funds by putting decision-making power in the hands of an automated system and a crowdsourced process.
WingRiders Token
WingRiders will be governed by a DAO, and that governance will be supported by a governance token. Tokenomics and token distribution are described in the table below.
Where to buy WingRiders token?
WingRiders cryptocurrency is not yet being traded on any exchanges.
Conclusion
WingRiders aims to be THE DEX in Cardano. It's not the only one, just the best, most feature-rich, friendliest in the community. Nothing verifies source code like time. The longer the service is used, the more users are sure that it will not be hacked. The new DeFi services do not have this comfort and want to attract a large number of users from the beginning.
Users do not want to risk losing their coins and tokens. At first, trust in the service may not be high. WingRiders did their best to prove to users that they can use decentralized exchange without worry. There were no significant issues on the testnet and the security audit performed by CERTIK also proves that you can safely exchange tokens on WingRiders.
