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Cardano (ADA) DeFi Ecosystem Has One Major Advantage Over Its Competitors: Community

Sat, 09/03/2022 - 16:28
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Vladislav Sopov
Cardano (ADA) ecosystem of decentralized applications (dApps) has one major advantage over its key rivals
Cardano (ADA) DeFi Ecosystem Has One Major Advantage Over Its Competitors: Community
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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.

Building DeFis with no VC influence: Case of Cardano (ADA)

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.

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 

Cardano (ADA) dApps family surges day by day

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.

Cardano DEX Sees 54,000% Rise in TVL as Cardano Records Modest DeFi Inflows

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.

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About the author

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 (, Monoreto, Attic Lab etc.)