ErgoDEX is a decentralized exchange on the revolutionary UTXO-based blockchain Ergo (and soon Cardano) with a protocol built to be an efficient and secure financial contracts platform with radically new DeFi functionality and a proof-of-work protocol, built to be able to interact with the Cardano blockchain. This cross-chain functionality will bring oracle pools onto the Cardano blockchain aswell as the ErgoDEX with an orderbook which'll allow people to swap tokens on both the Cardano and Ergo blockchain.
Founded in 2019 by some of Charles Hoskinson’s favourite technologists, who also contributed to the development of Cardano , NXT, Scorex, Waves and smartcontract.com (now known as Chainlink), Ergo is a proof of work (PoW) blockchain platform with Turing complete smart contracts that employs a number of advanced features like zero-knowledge proofs, ring signatures, oracles, and adjustable block size.
In 2020, ERGO partnered with EMURGO to jointly explore stablecoin R&D and the provision of DeFi applications by leveraging each other’s respective expertise in Cardano's technical structures and UTXO-based smart contracts.
Currently, ErgoDex, a cross-chain DEX between the Cardano and Ergo blockchain is under development and is expected to launch in beta in Q3 2021, and be fully released by Q2 2022, after the Goguen mainnet launch, as that will bring smart contracts onto the cardano blockchain, allowing for both the DEX- and oracle-pooldeployment on the blockchain.