Do repost and rate:
Ergo is the main DEX of Cardano. As Cardano is implementing smart contracts with the Alonzo update in order to get ready for DeFi, Ergo will likely be the first AMM of Cardano.
Ergo's token ERG has already started to pump up to $15 and may hit its ATH at $30 soon due to the expected full launch of Cardano's Alonzo update. Some key facts about Ergo:
- Ergo was founded by some of Charles Hoskinson’s favourite technologists, who also contributed to the development of Cardano, Waves and Chainlink
- Ergo is a proof of work blockchain platform with smart contracts which employs advanced features like zero-knowledge proofs, ring signatures, oracles, and adjustable block size
- Ergo is partnered with EMURGO, the commercial arm of Cardano
In summary, we can assume that ERG is currently undervalued since it is a major component of Cardano's ecosystem. However, as crypto market can be crazy, please Do Your Own Research before investing your money.
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