You Can Now Track Cardano TVL On DeFiLlama
Cardano holders just got some good news. They can now keep closer tabs on their investment now thanks to the latest update from DeFiLlama, a DeFi TVL aggregator. Now tracking Cardano @CardanoStiftung Cardano is a decentralized third-generation proof-of-stake blockchain...
Cardano holders just got some good news. They can now keep closer tabs on their investment now thanks to the latest update from DeFiLlama, a DeFi TVL aggregator.
Now tracking Cardano @CardanoStiftung
Cardano is a decentralized third-generation proof-of-stake blockchain platform and home to the ada cryptocurrency. It is powered by Ouroboros, the ground-breaking proof-of-stake consensus protocol.https://t.co/OoQo0nn4il pic.twitter.com/IcXKlcGxtM
— DefiLlama.com (@DefiLlama) January 1, 2022
For a long time now, Cardano fans haven’t shared the same luxuries granted to other smart contract platforms. With not as much action taking place on the ecosystem, there haven’t been too many reliable sources for retail to keep up with Cardano’s growth. However, all that is set to change in 2022 now that the blockchain analytics platform DeFiLlama has added Cardano to its list of tracked projects.
- Since adding Cardano tracking, DeFiLlama has recorded a major impulse in total-value-locked (TVL) on Cardano, rocketing from $822,000 on opening day to a current TVL of $1.5 million.
- While it’s too early to tell where TVL on Cardano is heading, the project has numerous plans in the works to realize greater ADA adoption. TVL tracking may be one subtle indicator that the blockchain is expected to grow in the near future
- Chief among those plans is the launch of a decentralized exchange (DEX), which will allow users to begin swapping and interacting with on-chain DeFi products.
- One of the most highly-anticipated DEXs, SundaeSwap, is actively testing its product and is gearing up to ship its mainnet DEX in 2022.
- Cardano is catching mainstream attention from major tech giants; this week, Samsung announced that it would be utilizing the Cardano blockchain to store planting records on two million mangrove trees being planted by the company.
- Global payments processor Flexa added Cardano as a payment option for over 40,000 retailers across the US and Canada.
- ADA founder Charles Hoskinson has been in the works with several African countries, such as Ethiopia, to bring identification services to underserved markets throughout the Continent.
- Eyes will be on DeFiLlama as investors patiently wait for activity to pick up on the network — expect a steadily rising TVL over the next few months to ensure a healthy ecosystem is being born on Cardano.
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