Cardano’s explosive DeFi growth | Twitter Spaces with Muesliswap

Total value locked, new daily wallets, transaction volumes and wallet delegators are among the growth indicators showing Cardano’s progress. Several founders discussed Cardano’s fascinating journey in the DeFi world during Muesliswap’s latest Twitter space. 

Cover art/illustration via CryptoSlate

Cardano blockchain data shows explosive development activity and a 90% steady increase in active addresses. Despite the explosive growth failing to reflect across ADA prices, over 1,146 projects are building on top of the blockchain. 

Whereas the Twitter space was meant to celebrate Muesliswap’s birthday, the platform called upon top Cardano projects to discuss the space and tell users what to expect in future. Muesliswap’s head of technical development outlined the DeFi aims to build a reliable DEX for everyone to swap tokens, invest in liquidity pools and trade on the Cardano blockchain.

Sundaeswap, the 2nd project showcasing on the session,  says it launched in January with great uptime for swapping and depositing several tokens on its DEX. Their plan is to improve governance policies, deploy reliable yield programs, research healthy scalability solutions and work on the user interface. The protocol’s CTO, Pi Laningham, applauded Muesliswap’s effort and expressed the need for interoperability across DeFi protocols.

Pi also mentioned that the MuesliSwap aggregator is very powerful and acts as backup solution for all the other DEXes, saying:

“If SundaeSwap website goes down, you can continue to make your orders on Muesliswap Agregator”

A crucial segment of the discussion was understanding where some of the projects had come from since building on Cardano.  Pi talked through the process of building on Cardano and compared the difficulty of building on either Cardano or Ethereum. He believes it’s important for experimenting builders to practically run Cardano smart contracts instead of testing the blockchain theoretically.  Talking on behalf of Muesliswap, @Niels_muesli, said the most important part of building on Cardano was exploring new options that were impossible on other blockchains. 

Other top Cardano projects featured on the Twitter space included Cardano Vanja, COTI Network, Eternal Wallet, MELD Defi, Indigo Protocol, and Oracle Charlie3.  The live session also featured two surprise guests, Cardano meme-token ecosystem $HOSKY and blockchain SAAS solution Emurgo. 

Alexander Panasenko from COTI addressed the need for community participation in the building process, so as to spread more word about new products. While answering whether they need a community test net to launch their products, Alexander said they were not relying on the community for testing but instead had a team of quality assurance experts. However, Alexander insisted that COTI was welcome to any community members willing to perform tests on the testnet. 

Muesliswap is the first decentralized exchange on the Cardano blockchain. The platform, which calls itself the first hybrid DEX is focused on operating the largest decentralized exchange based on ideas from the traditional order book. By taking the traditional order book and adding game-changing features on top of it, Muesliswap is leading the way forward by eliminating price contention, overlaps in batch size matching and multiple matchmaking. 

A vibrant ecosystem is growing around the Cardano network and pulling along a revolution of builders who aim to disrupt staking, yield farming and liquidity pools. Muesliswap has many opportunities for traders and liquidity providers by deploying a platform where everyone can become market makers and contribute to liquidity pools. 

While this is only a summarized recap of the entire conversation, Cryptoslate would love to extend a welcome to anyone that wants to listen to the entire Twitter space record and interact with some of the speakers.

This is a media partnership post between Cryptoslate and Muesliswap that recaps a more in-depth session of the Twitter Space chat among several builders discussing the Cardano DeFi space. Catch up with the live chat on Twitter and get to interact with Cardano’s top DeFi projects.

This space was something else. What a remarkable group of people is building on #Cardano. A big THANK YOU to everyone participating, and @RichardMcCrackn for keeping us on track.

We can barely wait for year #2

Here is the recording if you missed it! https://t.co/FLj0Ue3McU

— MuesliSwap (@MuesliSwapTeam) November 28, 2022

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