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Cardano Ecosystem

Btcmanager

04/07/2023

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Cardano's DeFi landscape advances with launch of its first oracle integrator

The Cardano network has taken a step towards total decentralization with its first oracle integrator launch. Liqwid, a top DeFi project on Cardano, has integrated Charli3, the first decentralized oracle...

Cardano's DeFi landscape advances with launch of its first oracle integrator

Cardano’s DeFi landscape advances with launch of its first oracle integrator

The Cardano network has taken a step towards total decentralization with its first oracle integrator launch.

Liqwid, a top DeFi project on Cardano, has integrated Charli3, the first decentralized oracle integrator on Cardano’s mainnet, which went live on April 6. Charli3 enables projects to deliver precise, secure, and safe data to their platforms and users, akin to Chainlink for Ethereum (ETH).

The FIRST ORACLE INTEGRATION ON CARDANO!🤯

The day is finally here🥳

This is a MAJOR occasion for the #Cardano ecosystem as a whole, showing that projects are following the continuous push for full decentralization on Cardano.$ADA To The Moon🚀

Detailed Info🧵👇 pic.twitter.com/yCpKeFCAzc

— Yevhen |👾| De.Fi (@yevhen_dedotfi) April 6, 2023

Liqwid, an algorithmic liquidity market protocol on Cardano for lenders and borrowers, will employ Charli3’s oracles for computations to generate new loans, adjust collateral values, and commence liquidations for under-collateralized loans.

Liqwid co-founder Dewayne Cameron called Charli3’s launch a critical juncture for the entire Cardano ecosystem. Charli3 can now generate accurate on-chain oracle feeds, including SHEN/ADA prices, with ADA/USD integration set to follow soon.

The integration creates more on-chain opportunities for new projects to secure trust in the ecosystem. Liqwid recently announced that it was the most used Cardano DeFi protocol by transaction volume.

Cardano is the second-highest network for staked value behind Ethereum, with a staking market capitalization of around $9 billion and a staking ratio of 66%, according to StakingRewards.

Top 10 crypto assets by staking market cap | Source: StakingRewards
Top 10 crypto assets by staking market cap | Source: StakingRewards

ADA price struggles

However, ADA prices have struggled to surpass $0.40 over the last few months, despite a gain of roughly 15% in the past month.

At present, ADA is trading at $0.38, as per CoinMarketCap. While other cryptocurrencies are beginning to recuperate from their all-time highs, ADA is still down 87% from its September 2021 pinnacle.

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ORIGINAL SOURCE

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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