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Here's Why Cardano DEXes Are Already on Next Level Compared to Ethereum

Sun, 07/31/2022 - 11:16
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Arman Shirinyan
Cardano might use some functions still not available directly to Ethereum users
Here's Why Cardano DEXes Are Already on Next Level Compared to Ethereum
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The staking yield is one of the few risk-free tools for making a passive income in blockchain-related projects as Cardano offers making around 11% annually from staking ADA, and some Cardano community members believe that implementing it to the DEX should be the next priority for developers

By implementing the functions to Cardano-based decentralized exchange and decentralized finances, the platform would be a massive step toward the project's future. The implementation of a risk-free tool, like the staking yield, would attract more users from other chains to Cardano and form an image of the ecosystem in the right way. 

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Other protocols, including Ethereum, might not implement the same functions on their platform because of non-liquid stacking and other technical limitations. In order to get a similar experience on the second biggest network in the market, users would need to use third-party solutions, even decentralized ones. 

With the volatile nature of Ethereum, some users risk losing their money because of the usage of widespread ETH-pegged tokens that claim to have a 1:1 exchange rate with ETH but fail to maintain it due to the lack of liquidity

Unfortunately, the variety of new functions, the high development activity and the numerous benefits do not help ADA to perform better on the market as the coin is still failing to exit the sharp downtrend it entered back in 2021. 

At press time, Cardano is changing hands at $0.52 and showing a mild 0.21% price increase in the last 24 hours. 

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.