According to an anonymous community-driven account of supporters of Cardano (ADA), the largest proof-of-stake (PoS) network, its ecosystem of decentralized finance (DeFi) protocols gains steam in more democratic and independent manner than the ecosystems of its competitors.
According to the analysis shared on the @cardano_whale account, the Cardano-centric ecosystem of decentralized finance (DeFi) protocols has its own alternatives to all mainstream protocols of DeFi Summer 2020.
Cardano is the first protocol since Ethereum that’s rolling out a DeFi ecosystem largely without a VC leg up. It has security, decentralisation, community and soon throughput to succeed & equivalents to Compound (Liqwid), AAVE (AADA) and Curve/Maker (Ardana) lined up + much more
That being said, Cardano (ADA) DeFi stack has its own Compound Finance (Liqwid), Aave Finance (AADA), Curve Finance or Maker DAO (Ardana).
However, unlike Solana (SOL), BNB Chain (BSC), NEAR Protocol (NEAR), Avalanche (AVAX) and all other Layer-One platforms since Ethereum (ETH), Cardano’s dApps do not depend on money injected by venture capitalists (VCs).
As such, it can develop and gain traction in inclusive and fair manner:
It has security, decentralisation, community and soon throughput to succeed
As covered by U.Today previously, in 2022, the Cardano (ADA) ecosystem witnessed a monstruos upsurge. In Q2, 2022, its total value locked (TVL) metrics spiked by thousands of percent.
By mid-June, 2022, Cardano’s (ADA) ecosystem had already on-boarded over 1,000 actively developed decentralized applications (dApps).
The projects associated with non-fungible tokens (dashboards, marketplaces, DeFis with NFTs) are in focus for the Cardano (ADA) ecosystem, according to a number of reports.
Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.
Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)
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