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Cardano Ecosystem

Crypto News Flash (EN)

10/16/2023

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TangleSwap and IOTA Forge a Path to DeFi on Cardano

TangleSwap, an IOTA-backed DEX has gone live on the Cardano blockchain. TangleSwap introduces a new revenue stream into both the Cardano and IOTA ecosystems, ensuring balanced and sustainable token...

TangleSwap and IOTA Forge a Path to DeFi on Cardano

  • TangleSwap, an IOTA-backed DEX has gone live on the Cardano blockchain.
  • TangleSwap introduces a new revenue stream into both the Cardano and IOTA ecosystems, ensuring balanced and sustainable token emissions.

In a recent development, two prominent blockchain projects, TangleSwap and IOTA, have teamed up to lay the groundwork for interoperable Decentralized Finance (DeFi) on the Cardano blockchain.

TangleSwap: A Holistic DeFi Solution

TangleSwap is a promising DeFi project that has garnered attention for its unique approach to liquidity provisioning and decentralized exchange mechanisms. Built on the IOTA Tangle, TangleSwap aims to provide Cardano with a new generation of DeFi solutions that are both scalable and sustainable. 

The project leverages IOTA’s Tangle technology to eliminate the bottlenecks that often hinder DeFi platforms on other blockchains. The entry of TangleSwap into the Cardano ecosystem represents a significant development for the world of decentralized finance. 

This innovative protocol not only addresses the liquidity challenges faced by many DeFi projects but also seeks to unlock the untapped potential of bringing DeFi to the masses. With a comprehensive suite of groundbreaking applications designed to offer an unparalleled user experience, TangleSwap is poised to enhance the utility and value of ADA, Cardano’s native cryptocurrency.

TangleSwap distinguishes itself from the plethora of Decentralized Exchanges (DEXs) by presenting a holistic DeFi solution that tackles the trilemma of simplicity, competitiveness, and interoperability. 

This unique approach combines the user-friendliness of fintech with cutting-edge DeFi technology, resulting in an omnichain protocol that aims to bring Cardano’s decentralized finance to mainstream users.

TangleSwap provides multi-route switching and concentrated liquidity pools to reduce price impact during deals while increasing liquidity provider yield. This function not only improves trade efficiency but also promotes a more competitive environment.

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Additionally, TangleSwap empowers projects to distribute rewards efficiently and act as their own market makers, reducing the influence of speculative and short-term capital through its reputation system.

The Role of Cardano in TangleSwap’s Vision

For a DeFi protocol to thrive, it needs a robust underlying infrastructure that encompasses scalability, interoperability, and cost-effectiveness. However, trust, decentralization, and security are also essential attributes. Cardano excels in these areas, making it an ideal partner for TangleSwap’s journey into DeFi.

The integration of TangleSwap into the Cardano ecosystem was not a random decision but a well-thought-out move. Cardano’s technical framework and its commitment to genuine decentralization and robust security align with TangleSwap’s vision. 

This integration goes beyond a superficial layer and leverages Milkomeda’s Wrapped Smart Contracts, providing users with the best of both native Cardano and industry-grade Ethereum Virtual Machine (EVM) experiences.

Furthermore, Cardano’s thriving community and diverse ecosystem make it a strategic choice for TangleSwap. The success of any DeFi protocol relies on active user engagement and adoption, and Cardano’s dynamic ecosystem, rich in various projects and initiatives, ensures that TangleSwap’s utility will be maximized.

The $VOID token is poised to play a pivotal role in this expansion, serving as a nexus for interoperability and an attractive investment vehicle. This dual multi-chain role not only bolsters the liquidity, decentralization, and value of $VOID but also incentivizes users to adopt TangleSwap as their “go-to” DeFi platform. It introduces a new revenue stream into each ecosystem, ensuring balanced and sustainable token emissions.

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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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