5 Cardano Projects You Need to Check Out

Cardano is one of the cryptocurrencies that are making waves in the market today.
| Cryptopress
Last updated: December 15, 2022


Cardano is one of the cryptocurrencies that are making waves in the market today.

Many people are investing heavily in cryptocurrencies as they see potential in this technology. Cardano has a market cap of $2.8 billion, which makes it one of the top 10 most valuable cryptocurrencies.

Cardano is a third-generation blockchain and smart contract platform that utilizes the Proof of Stake protocol. It was created by Charles Hoskinson, co-founder of Ethereum, in September 2017. Cardano aims to be a truly decentralized platform that provides users with complete control over their funds while maintaining a high level of security.

Here are some exciting projects built on top of Cardano:

SundaeSwap - Top Cardano projects
  • Sundaeswap: A decentralized exchange for swapping tokens on Binance Smart Chain, built with Rust and React.
    To assist kickstart the Cardano altcoin ecosystem, SundaeSwap was the first DEX on the mainnet with an automated market maker. As you can see, this is an intriguing scenario. Many individuals are looking forward to the SundaeSwap platform. On Cardano, it’s now the #1 DEX. I believe it’d be amazing if SundaeSwap became Cardano’s Uniswap.
    SundaeSwap’s governance token is $SUNDAE. SundaeSwap only mentions its token twice in its white paper: once when token holders may vote on future movements, and once under the “Future Work” category. it’s an indicator that there is no clear strategy for the token. Because DEXs don’t require tokens to operate their goods, there’s no incentive to purchase them. The token’s worth, however, is yet undetermined.
    SundaeSwap is the first decentralized exchange (DEX) on the Cardano mainnet with automated market-making (AMM). It’s also a fork of Uniswap v2 running on Cardano.
    The protocol’s native token $SUNDAE can be utilized as collateral for baking liquidity pool tokens or staking liquidity pool tokens to earn rewards from trading fees and protocol fees. These rewards are shared between all liquidity providers, regardless of which pool they have chosen to stake with.
Liqwid Finance - Top Cardano projects
Liqwid Finance
  • Liqwid Finance: is an innovative project that aims to democratize access to credit and financial services. The project provides a decentralized platform for issuing and investing in loans, based on the Cardano blockchain. Users can apply for a loan as well as lend funds or buy tokens on the platform. All transactions are executed by smart contracts and are secured by collateral.
    Developed by Liqwid Finance, a company established in 2019 and headquartered in Malta, the Liqwid platform is built on Cardano’s Ouroboros proof of stake blockchain protocol. Liqwid Finance aims to solve several problems associated with traditional lending methods and make lending more accessible to everyone.
    The Liqwid platform gives users the ability to issue loans through smart contracts, backed by cryptocurrency collateral. The collateral is held in escrow smart contracts until the loan is repaid. Lenders can then receive their funds back along with interest payments, which are determined using an automated system that calculates interest rates based on various factors such as risks, liquidity, volatility, and market conditions.
    The platform uses USD-backed stablecoins as its primary payment tool, which allows it to maintain value stability and avoid market volatility risks. It also has a native cryptocurrency called LQW token that enables investors to receive early.
    Liqwid Finance is a decentralized financial infrastructure project aiming to provide liquidity and collateral management services to all DeFi (decentralized finance) projects, starting with its own.
    It has a few different layers that can be used together or individually:
    Liqwid Pay: an app for sending and requesting payments
    Liqwid Swap: for exchanging tokens
    Liqwid Collateral: for lending, borrowing, and providing liquidity to the markets.
    On top of these layers, the Liqwid team plans to offer additional tools for building your own financial products within Cardano.
Adax Dex - Top Cardano projects
Adax Dex
  • Adax: An all-in-one financial app for cross-chain payments and investments.
    Three things make Adax stand out from the crowd. First, Adax is a decentralized exchange (DEX) built on top of the Cardano blockchain and powered by ADA. Second, Adax is a non-custodial exchange which means it doesn’t hold user funds, it just lets people trade directly with each other; instead of holding your coins, you use a smart contract to trade on the platform. Third, Adax was built using the Haskell programming language. Haskell is known for being secure and reliable, making it the perfect fit for a DEX built on the Cardano blockchain.
    The Adax project is building an ecosystem of products including a decentralized exchange, ERC-20 bridge, token launchpad, and NFT marketplace. They have launched both a centralized and decentralized exchange and are planning to launch an ERC-20 token bridge.
    Adax started in 2018 to become one of the leading Cardano projects. The team is currently working to launch its cryptocurrency exchange and digital wallet which will enable users to buy and sell cryptocurrencies, be it through the exchange or peer-to-peer. They will also provide fiat-crypto trading pairs, so individuals can trade their local currency for crypto assets if they choose.
    The Adax team is already hard at work building its ecosystem, including an affiliate program as well as a marketplace where users can purchase goods with their crypto holdings. As a bonus, all transactions on Adax will be private thanks to its use of zero-knowledge proofs (ZKPs) for verification purposes when recording transactions onto the blockchain ledger.
MuesliSwap - Top Cardano projects
  • MuesliSwap: MuesliSwap is currently the most popular DEX running on Cardano. MuesliSwap is a fork of the popular DeFi protocol SushiSwap and has many similar features. MuesliSwap is not only a DEX, it also runs an NFT marketplace, allowing users to trade NFT assets in a non-custodial manner.
    The unique selling point of MuesliSwap, is that it is developing an automated market maker swap feature that aggregates liquidity from other Cardano DEXs. This will allow users to get the best price across all exchanges when swapping tokens. It’s early days for this feature, but if successful it should help increase liquidity on the platform and possibly even make MuesliSwap a 1INCH or Paraswap-like aggregator for Cardano DEXs.
    MuesliSwap has a native governance token called $MILK. Currently, its utility is quite limited and rewards are provided through staking pools rather than staking directly to the protocol. However, more features are planned for $MILK including access to the project launchpad and priority trading among others.
Ardana - Top Cardano projects
  • Ardana: This project, which is based on the Cardano blockchain, aims to create a stablecoin system that is not controlled by any one entity.
    Users will be able to borrow stablecoins against their assets by storing them in Ardana’s vaults, allowing them to borrow against their holdings. Then, a stable currency called $dUSD will be created, which will be backed by the United States dollar. This stablecoin mechanism is yet another common element of blockchains, and it has the potential to be widely utilized if it is implemented. DeFi is a firm that manufactures systems of this kind.
    In addition, a coin called $DANA will be utilized for governance purposes. Ardana’s platform will generate revenue, and token holders will get a portion of that revenue. There are advantages and disadvantages to using this utility model. In addition to encouraging individuals to maintain their $DANA tokens so that they may earn more incentives, this method has an impact on the price of tokens by increasing the demand for them. It will automatically purchase $DANA from those who have it to pay out incentives since the system is designed to do so.
    People who hold ADA tokens will be eligible for incentives under Ardana’s strategy. It also offers a stablecoin solution for DeFi on Cardano, which is critical if Cardano wants to be considered one of the top blockchains for DeFi activity and value shortly.
    As part of Ardana’s DEX, the company has created an on-chain governance token, which serves as a manner of rewarding users to retain the token in return for cash. For example, if you use your tokens as collateral, you may be eligible for further prizes. Such incentives will likely result in increased usage and value for the token.
    Ardana has introduced an on-chain governance token as part of its DEX, which acts as an incentive for users who keep the token in exchange for money. Additional rewards may be available if you utilize your tokens as a form of collateral. The token’s value is anticipated to rise as a consequence of these incentives.
    According to the project’s whitepaper, Ardana is an “open-source solution” that enables users to trade with one another in a peer-to-peer setting. In other words, it will be like a typical stock market, except that instead of trading equities, you will be able to trade digital tokens (or cryptocurrencies).
    Uniswap’s $UNI token has performed spectacularly, whereas a substantial number of other governance tokens have done poorly. If Ardana’s initiative acquires enough momentum, the token’s value might rise significantly.

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.


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