Cardano DEX TVL Rises Over 56,000% as Cardano Records Massive DeFi Inflows

FluidTokens, a decentralized finance (DeFi) lending platform that allows users to lend or borrow with CNFTs as collateral, has recorded amazing growth in Total Value Locked, according to DeFi data tracker DefiLlama.

At the time of filing this report, the FluidTokens platform is exhibiting an 18% growth in the last seven days and over 56,000% in the past month. As the data on the platform says, Cardano (ADA) currently manages $116.28 million in TVL.

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Source: DeFiLlema

WingRiders is the largest among Cardano decentralized exchanges tracked by DefiLlama, with $50.77 million in TVL. It currently maintains 43.66% market dominance.

Cardano’s Djed Seals New Partnerships

Another collaboration between Iagon and Djed, Cardano’s overcollateralized algorithmic stablecoin, has been made public through the COTI network. A decentralized storage platform is currently being developed by Iagon, and Djed will play a major role in the overall trading process.

Djed will be adopted as a storage exchange payment method on Iagon’s shared storage economy platform due to this partnership.

Read Also: The First-Ever Annual State of the Cardano Developer Ecosystem Survey Goes Live: Details

COTI tweeted, “We are happy to announce yet another Djed partnership, this time with @IagonOfficial, a marketplace for decentralized computing resources, to make Djed a key component in their trading process.”

We are happy to announce yet another Djed partnership, this time with @IagonOfficial, a marketplace for decentralized computing resources, to make Djed a key component in their trading process.

Read more: https://t.co/6AHZwkcL0V$COTI $DJED pic.twitter.com/oZMqOMwiGJ

— COTI (@COTInetwork) July 13, 2022

It’s also reported that Cardano (ADA) has returned to 10 most purchased tokens among 2000 biggest BSC whales, indicating a surging interest in the smart contract platform.

Read Also: Cardano Shark Addresses Buying the Dip; Over 79 Million ADA Amassed in 30 Days