Cardano (ADA), the largest proof-of-stake (PoS) network, has a more democratic and independent ecosystem of decentralized finance (DeFi) protocols than its rival ecosystems, according to an anonymous community-driven account of its supporters.
Case of Cardano: Building DeFis without VC influence (ADA)
The ADA-centric ecosystem of decentralized finance (DeFi) protocols has its own alternatives to all popular protocols of DeFi Summer 2020, according to the analysis posted on the @cardano whale account.
In spite of this, the ADA DeFi stack features its own versions of Compound Finance (Liqwid), Aave Finance (AADA), Curve Finance, and Maker DAO (Ardana).
However, unlike previous Layer-One platforms like Solana (SOL), BNB Chain (BSC), NEAR Protocol (NEAR), Avalanche (AVAX), and all others since Ethereum (ETH), ADA’s decentralized applications (dApps) are not dependent on funding from venture capitalists (VCs).
Cardano (ADA) dApps is growing daily
The environment of ADA had a monstrous rise. Its total value locked (TVL) measurements experienced a massive increase in Q2 2022.
Over 1,000 actively developing decentralized applications had already been integrated into the ADA ecosystem by mid-June 2022. (dApps).
According to many reports, the ADA ecosystem is focusing on the initiatives related to non-fungible tokens (dashboards, markets, and DeFis using NFTs).
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