WingRiders is being developed by Vacuumlabs, a Slovakian FinTech startup that describes itself as “a software development company that builds modern full stack fintech solutions for startups, scale-ups, and incumbent banks.” Vacuumlabs first got involved with Cardano in 2018 when its developers started work on Adalite, the world’s most popular web-based Cardano wallet:
“In 2018, Vacuumlabs developers started an internal project to build the first Cardano light wallet. What was supposed to be a ‘weekend project’ took weeks, but AdaLite was born. Since then, AdaLite has cemented itself as the leading web-based Cardano wallet, and along with it settled Vacuumlabs as a key development partner in the Cardano ecosystem.”
Given the developers’ credentials, it’s not surprising that they proudly refer to WingRiders as “the DEX on Cardano.”
WingRiders allows its users to “swap,” “earn” (by providing liquidity), and “fly” (presumably to the moon with the help of native token $WR).
Here is some information about WingRiders (from version 1 of its Lightpaper):
WingRiders is an Automated Market Maker (AMM) decentralised exchange (DEX) built on top of the Cardano main chain using the eUTxO model. The project is powered by VacuumLabs, one of the most esteemed developers in the Cardano space.
“WingRiders’ objective is to be an infrastructure element for the whole Cardano ecosystem, with simple integration into any wallet or Dapp. Accessible via many platforms, supporting connectors and Hardware wallets such as Ledger or Trezor. The platform will be fully decentralized and trustless supporting swaps between Cardano native tokens. Plans exceed the AMM, L1 and Cardano itself.”
Then, on April 12, the WingRiders team made the announcement that many Cardano community members had been eagerly awaiting.
🚀🚀🚀🔥Psssst …. Have you heard? We are LIVE on Mainnet🔥🚀🚀🚀
👉👉👉https://t.co/XMInZGYMvh#WingRidersDEX #Cardano #CardanoCommunity #ETH #StableCoins #Tether @Tether_to @coinbase #Coinbase pic.twitter.com/x13FhuySsh
— WingRiders (@wingriderscom) April 12, 2022
WingRiders’ developers claim that the following feature set distinguishes their product from other Cardano-powered DEXes:
WingRiders’ team announced earlier today that, according to DeFi Llama data, WingRiders is the most popular DEX on Cardano, with a TVL of $53.13 million.
🔥🔥🔥Riders, we are thrilled to have become #1 amongst the DEXes on #Cardano🎉🎉🎉#CardanoCommunity, all your trust & support is empowering us🚀🚀🚀🚀🚀Thank you!🙏
Our DAO Maker IDO is still upcoming.#WingRidersDEX pic.twitter.com/recMNMCzDf
— WingRiders (@wingriderscom) June 28, 2022