Cardano Tops Developer Charts: Launch USDM Stablecoin

Cardano, a leading blockchain platform, has notched up the top spot in developer activity, boasting the highest number of weekly commits amongst the top L1s. Often, a surge in developer activity indicates the network’s ability to deliver all the tools and opportunities. This feat underscores Cardano’s commitment to innovation and progress within the crypto realm.

Adding to its list of accomplishments, Cardano recently launched a new USDM stablecoin with plans to go live by April. The move signals the blockchain’s expansion into the stablecoin market, providing users with a reliable and stable digital asset pegged to USD.

Being one of the first blockchains built in the highly secure Haskell programming language, Cardano is developing a smart contract platform that seeks to deliver more advanced features than any protocol previously developed. However, amidst its achievements, experts caution against focusing heavily on transactions per second [TPS]. While higher TPS are commendable, they often come with compromises and trade-offs affecting the functionality and security of the blockchain.

In terms of decentralization, Cardano comes at the top of the list compiled by EDI, emphasizing its commitment to an inclusive and distributed ecosystem. As it prepares to scale, it holds the potential to outmatch other blockchains.

Cardano’s Three-Week Red Streak

Pricewise, Cardano has been red for three weeks, and experts are optimistic about a trend reversal. Such short-term corrections offer opportunities for profit-taking, new entries, and favorable prices for investors.

In the latest update, Cardano has joined the ranks of the top 100 blockchains with liquid staking. The Switzerland-based protocol Liqwid Finance, in partnership with Swiss AG, is launching CASL, an innovative ETP in the world of staking digital assets. As per the press release, CASL not only tracks the performance of ADA but also distributes interest earned from staking, providing investors with a unique opportunity for double returns and lower management fees.

Until now, most of the financial instruments available to investors in the crypto universe gave them access to developments in the underlying assets (Bitcoin, Ethereum, ADA, etc.). We’re going one step further, by putting ADA’s outstanding assets to work and redistributing the interest to investors.” Investors benefit from a double return on their investment, as well as lower management fees (1.5%) than the average of competing products.