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Cardano (ADA) Ready to Surpass Ethereum's Optimism: Community

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Sun, 03/20/2022 - 16:13
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Vladislav Sopov
Cardano (ADA), the largest PoS blockchain, witnesses DeFi revolution: its TVL is rocketing across all protocols
Cardano (ADA) Ready to Surpass Ethereum's Optimism: Community
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In March, 2022, Cardano's decentralized finance (DeFi) protocols are witnessing the largest and most impressive inflow of assets into their vaults, staking instruments and other mechanisms.

Cardano (ADA) surpasses flagship Ethereum L2 network?

Popular community-driven account @cardano_whale has shared interesting statistics on Cardano's accelerated adoption for decentralized finance (DeFi) protocols.

Cardano registers the largest increase of total value locked (TVL) across all top-tier DeFi protocols. It allows Cardano (ADA) to control 0.2% of the global DeFi ecosystem in just six months after smart contracts launch.

As such, Cardano (ADA) is getting closer to surpassing Optimism, a mainstream L2 solution for Ethereum (ETH) scalability based on optimistic rollups.

Related
Cardano's Total Value Locked Hit $224 Million with SundaeSwap Dominating Half of It

According to DeFi Llama tracker, Cardano's (ADA) aggegated TVL sits at $277 million, up 15% in the last 24 hours. It more than doubled in the last two weeks.

Cardano (ADA) is ready to surpass Optimism by TVL
Image by DeFi Llama

Also, in the last two months, its dApps ecosystem's TVL rocketed almost 100x.

Who is building on Cardano (ADA) right now?

As per DeFi Llama, there are five Cardano-based protocols active right now; also, it is used by a MuesliSwap multi-chain application together with emerging Bitcoin Cash-based platform SmartBCH.

More than 99% of Cardano's TVL is controlled by Minswap (MIN) anв Sundaeswap (SUNDAE) decentralized crypto exchanges. Muesliswap (MUESLI) and ADAX Pro (ADAX) are also on the list.

Related
Cardano's Flagship DEX Sundaeswap Performs Swaps in Less Than One Minute

As covered by U.Today previously, Cardano's community is excited by the performance of the Sundaeswap (SUNDAE) DEX: it achieved sub-minute swap finality.

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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 (Swap.online, Monoreto, Attic Lab etc.)