Cardano's Ecosystem Flourishing With DApps & Upgrades

A prominent ADA whale recently tweeted about the vibrant ecosystem of Cardano, acknowledging that some news goes unreported. In response, the latest update on Cardano, titled “#LatestOnCardano,” highlights both minor and major developments in the network, including L1+L2 upgrades, stats, dApps, SPO, NFT, governance, community, and more.

1/Cardano has a vibrant ecosystem but some news goes unreported

In #LatestOnCardano I highlight news, minor and major. L1+L2 upgrades, stats, dapps, SPO, NFT, governance, community and more

All things Cardano. Irregular but hopefully frequent. Here’s #18 in the series. Pls DYOR

— ADA whale (@cardano_whale) May 6, 2023

One significant development in Cardano is the mainnet compatibility of the state channel protocol Hydra, which is a crucial component of Cardano’s scalability plans. This achievement is expected to facilitate payments and auctions, similar to BTC Lightning.

Cardano dApps Enhance User Experience

Several dApps are making significant strides on the network. Wingriderscom added a light mode and pro view for easier transactions, while SundaeSwap’s v2 layout places the portfolio front and center, making buying and selling more intuitive. 

MuesliSwapTeam is the first exchange to move away from using only ADA as the base for all trading, which is a natural step towards diversifying the Cardano economy.

🎉 Exciting news from #Muesliswap! 🚀
Introducing a game-changing feature: you can now select alternative bases like iUSD or DJED on the markets page, in addition to ADA! 💱
Dive into a more diverse and customizable trading experience. 🌐 #DeFi #Cardano pic.twitter.com/qXnRLMZTqw

— MuesliSwap 🥛 | Hybrid DEX on Cardano (@MuesliSwapTeam) May 2, 2023

Helios_lang’s developers have released some updates, which have garnered praise from many ADA enthusiasts. The platform’s dev experience coming of age is considered one of the most exciting themes of 2023. Several projects are coming to the network, with big announcements expected from DEMUPro. 

Similarly, AadaFinance is a fast-growing lending protocol that is soon bringing pooled lending to the network. Pool Manager NFTs have profound implications for the traditional finance industry, and the network is establishing itself as an incubator for media projects focusing on books, music, video, and more.

Moreover, NucastIO has released its Android app, allowing the decentralization and tokenization of video ownership. Book_io is building a digital library, while ExtractDEX has partnered with official mocossi to improve liquidity for Cardano NFTs. 

GoKeyFinance is a project with big ambitions, building a decentralized P2P real estate finance dApp with a DAO allowing the community to invest in real estate.

WhiskeesNFTs is a hand-drawn NFT collection that allows NFT owners to have crowdfunded partial ownership in rare aging whiskey casks, yielding 15-20% a year. IagonOfficial has published its multi-sender dApp on Cardano mainnet, while PXLZ NFT is teaming up with PaimaStudios to build the PXL Wars game.

CogitoProtocol introduced the testnet demo of its first “tracercoin” called Green Coin, which is tied to non-currency indexes. GeniusyieldO staking dapp is adding some other tokens to its platform, while VyFiOfficial is launching on May 15th. Liqwidfinance is having a vote on shifting to a dynamic rewards scheme, while JPGStoreNFT is teasing its forthcoming token.

TapTools now supports NFTs, and MetaDEXfi has teased what looks like a snapshot of its dapp. Finally, Indigo_protocol yields remain juicy as ever, making it the second-largest Cardano DeFi app. 

Meanwhile, Eikonikos_HQ is building an open metaverse, including social and economic components, metaverse malls, avatars, and much more.

Related Reading | Floki Inu Takes Off: 2000% Surge in Trading Volume Fueled By Multiple Catalysts