Cardano Records Substantial DeFi Inflows Over 7-Day Period as Number of dApps Increases

Data from DefiLlama shows that the Cardano DeFi ecosystem has drawn more capital, with a positive increase of 7.36% over the past 24 hours in its total value locked (TVL). Cardano’s DeFi experienced inflows of roughly $21 million between July 13 and July 18. The total value locked (TVL) increased from around $109.55 million on July 13 to $128.31 million on July 18, which reflects this.

Cardano’s TVL currently stands at roughly $128.31 million, excluding the value of staked governance tokens. However, with staking included, its TVL is currently $155.35 million, and twelve dApps are contributing to this. This is an increase from the six dApps earlier in the year.

Wingriders (WRT) has 35.36% dominance, with $54.94 million currently locked. MinSwap is in the second position, with $42.94 million locked up. SundaeSwap currently has a total value locked in of $24.59 million.

Vasil might enable more projects to launch

The Vasil upgrade aims to deliver several crucial capabilities, which might allow the launch of additional projects while also significantly improving Cardano’s performance. Additionally, it aims to provide existing dApps with an upgrade path that might increase speed, transactional capability and script power.

To enhance network performance, IOG has already begun implementing several consistent parameter optimizations (such as an increase in block size and script memory units) in 2022. The Vasil hard fork, which includes Diffusion Pipelining, shifts things up a notch by accelerating block propagation times and enabling better throughput.

Vasil hopes to further enhance the Plutus platform, enabling developers to produce dApps that are quicker and more effective. Plutus V2 capabilities will be accessible, starting with the epoch after the Vasil hard fork as the current Plutus V1 version is unable to use reference inputs, reference scripts or inline datums.

The Vasil hard fork is tentatively scheduled for the last week in July.