He Seemed To Be Mistaken Charles Hoskinson Acknowledges Slyly Regarding DApp Launch

• DefiLlama, a decentralised finance (DeFi) analytics platform, analyses only seven Cardano-based DApps with a total value locked (TVL) of $315.72 million

• According to DefiLlama, Cardano TVL jumped more than 24 times in a single day from $3 million to $87.7 in the days leading up to the launch.

• The ecosystem’s TVL, which includes the value of staked tokens, has reached an all-time high of $315.7 million, with the Minswap DEX dominating all other DApps with $195.2 million. By TVL, Cardano is the 25th largest blockchain network. Cardano’s TVL is around $421.5 million if you include the value of staked governance tokens.

Although the ecosystem has been on the rise throughout 2022, Hoskinson made a bold forecast about Cardano two years ago that has yet to be fully realised. Charles Hoskinson, co-founder of the Cardano blockchain, has jokingly confessed that his July 2020 prediction for the amount of decentralised applications (DApps) coming to the blockchain has not yet materialised.

Only Seven Cardano Based DApps With A Total Value Locked (TVL) Of $315.72 Million

Remember when I projected thousands of assets and DApps on Cardano? Hoskinson tweeted on Wednesday, referring to his famous July 2020 remark. Well, I was mistaken; millions of native assets have been issued, and DApps number in the hundreds. #SlowAndSteady. He may have misinterpreted his own tweet, as he forecasted in July 2020 that by 2021, Cardano would have hundreds of assets and thousands of DApps.

While new nonfungible token (NFT) minting protocols appear to have exceeded his forecasts by 2022, the amount of decentralised apps running on the network isn’t quite as spectacular. DefiLlama, a decentralised finance (DeFi) analytics platform, analyses only seven Cardano-based DApps with a total value locked (TVL) of $315.72 million, excluding staked governance tokens. Outside of governance tokens, two of those DApps have no TVL.

Hoskinson believes that developers are holding off on launching their ideas until the Vasil hard fork upgrade on Cardano is released in June. There are 579 DApps in various stages of development, according to Cardano Cube, the top Cardano ecosystem tracker.

Reaching An All Time High Of $315.7 Million

While the data contradicts some of Hoskinson’s more optimistic 2020 predictions, it does demonstrate that Cardano’s ecosystem has been steadily improving throughout 2022. The debut of the SundaeSwap decentralised exchange (DEX) on January 21 contributed to a significant increase in total value locked. According to DefiLlama, Cardano TVL jumped more than 24 times in a single day from $3 million to $87.7 in the days leading up to the launch.

The ecosystem’s TVL, which includes the value of staked tokens, has reached an all-time high of $315.7 million, with the Minswap DEX dominating all other DApps with $195.2 million. By TVL, Cardano is the 25th largest blockchain network. Cardano’s TVL is around $421.5 million if you include the value of staked governance tokens. Despite Cardano’s progress this year, the network’s TVL still lags behind those of its layer-1 competitors in DeFi like Ethereum and Solana. According to DefiLlama, the two chains have a combined value of $137.3 billion and $7.2 billion.