Input Output Hong Kong (IOHK), the crypto company behind Cardano, mentioned multiple smart contract protocols, highlighting the rapid growth of the network.
Projects ranging from portfolios to multiple DEXs as well as the lending and lending protocol have seen consistent development this month. Recall that to trade ADA, it is also possible to use reliable platforms such as Bitcoin Pro.
DeFi on Cardano
The eye catching project was OccamX, a decentralized exchange (DEX) that was prepared for a launch this month.
Along with the DEX, a native token called OCX will also be launched which will serve as an incentive unit for the interaction of agents in the ecosystem.
However, of the 100 million OCXs in circulation only 30% will be released to the community with 50% set aside for future use, and the remaining 20% are slated to stay with the Occam team.
In addition to OccamX, Cardano also witnessed the launch of the MADAX Metaverse on Cardano.
A new wallet called Flint launched its website and released its latest version just today and another Yoroi wallet has also enabled its wallet dApp connector capabilities to integrate with other Cardano dApps.
Cardano Djed's first stablecoin, issued by Coti has partnered with a decentralized, cross-chain lending and lending protocol called Paribus. In this way Coti ensures the integration of Djed into the dApp's guarantee pool.
Finally another AMM - DEX built on the Cardano network called DOEX announced that they were getting close to launching their testnet within days.
The growth of DEXs on the blockchain will certainly serve as healthy competition to the blockchain's most successful DEX, SundaeSwap. Since its launch last month, the protocol has managed to climb 185% to currently hold $ 124,5 million in total value.
Cardano looks ahead
While Cardano creator Charles Hoskinson had nothing to say about the myriad of developments, his ideals certainly align with the direction the development team has taken.
Just today the Cardano Foundation welcomed the current CEO of SBI Digital Asset Holdings, Fernando Luis Vázquez Cao to its Board of Directors.
Fernando is set to help and guide the team towards their decentralization de-risk goal for regulators and organizations to provide opportunities for those who plan to make a positive global impact.
