If you hold Cardano in your portfolio, then you’re going to want to read this article. I’m going to give you some Cardano projects that could have some serious potential.
Over the past three months, Cardano’s ecosystem grew to more than 100 projects. As a result, Defi to NFT projects will continue to expand since Cardano has now officially launched smart contracts.
And if you’re like me and hold Cardano in your portfolio, then you’re going to want to read this article because I’m going to give you some Cardano projects that could have some serious potential. And also, explain why I don’t plan on selling my ADA anytime soon. So let’s get right into it. But first, a very brief Cardano overview. Cardano has the third-largest market cap of any cryptocurrency and is a proof of stake platform.
And its native token is called ADA. Now Cardano has recently launched smart contracts, and if you’re an ADA holder like me, then that was a huge milestone that we all went through. Now I will touch base on why the price of ADA has been down lately later in the article. But one of these reasons is that there are currently more than 2 300 smart contracts waiting to be deployed in Cardano.
However, they are currently trapped in a time-lock contract. Developers must wait to deploy to the centralized finance projects. Decentralized applications and other projects like NFTs, Cortex, Liquid, and SingularityNET are among those initiatives that are ready to be implemented with new protocols and ideas.
So let’s start by discussing the centralized exchanges or Dexes. And why they’re so valuable. DEX has its own token to enable trading, which you can buy and invest in. When they join a huge network and get to the top, they are able to facilitate a significant number of deals. Now the largest centralized exchange is Uniswap. And it’s on the Ethereum blockchain. The market cap of uni swap is over 18 billion dollars, and it’s the 11th most valuable cryptocurrency. PancakeSwap is the world’s second-largest decentralized exchange, and it may be found on the Binance smart chain. And the market cap of PancakeSwap is 5.1 billion dollars.
So now let’s take a look at all of these dexes that way, you can figure out who has the highest chance of grabbing everything and causing a price explosion.
Now, first, on the list, we’re going to go with Sundaewap.
Now on the Cardano network, Sundaeswap is the deck with the greatest attention. Sundaeswap is a decentralized exchange mechanism that was created specifically for the Cardano network. Sundae tokens can be swapped, staked, lent, and borrowed in a fully decentralized manner. On the other hand, Sundaeswap is still in the development stages, with the official launch set to hit in q4 of 2021. It’s also the centralized marketplace that may be used for bitcoin transactions, and it’s clear from their 100,000 Twitter followers that they have their marketing part down, which is not terrible for a product that has not even been released yet.
So here’s what you need to know about Sundae swap.
They ran a live test using their decks to demonstrate some basic capabilities such as creating a pool and making a simple transaction. Now a DEX or a decentralized exchange is a type of cryptocurrency exchange that allows for direct peer-to-peer cryptocurrency transactions to take place online without the need for a third party or a middleman.
Now SundaeSwap is starting with the ISO model, which means that some of their early funding will come from customers who staked their ADA with SundaeSwap for 25 days.
Now, this is a very different way of funding a project in which you earn some Sundaeswap tokens in exchange for doing nothing except staking your ADA. And who doesn’t love staking their ADA? Now once you look into Sundaeswap, you’re going to notice that everyone is looking forward to their official launch, and it might be one of Cardano’s most profitable initiatives.
Next on the list, we have Ergodex.
Now Charles Hoskinson Cardano’s founder has complimented Ergo for their work on several locations. They already have an automated market maker that allows assets to be exchanged without any authorization. And you can also do fun things like place a limit order. They also have a management team with tons of experience, including people who have worked on Cardano, which is great to see.
The only method to obtain their token is to use a dex. That is a little different from Sundae swap. Many people will credit this as one of the reasons they enjoy Ergodex a lot more.
What’s also cool about Ergo is that they’re planning to introduce an order book style market similar to what you would see on a centralized exchange like Binance. And on the centralized exchanges, they are a lot different. Because they don’t have the processing power of a centralized exchange, they can’t execute and trade amongst a large number of individuals at the same time. Ergodex does this via a cross-chain. So, in essence, they’ll sell transactions on Cardano, but they’ll also have their own blockchain and other centralized option processing techniques. As they also are able to complete deals on this order book style market and then settle them on Cardano at a later time. Of course, the order book format is not completely decentralized, but this is where technology is right now.
And this is similar to several Ethereum scaling solutions that package transactions on more centralized blockchains. After that, they’ll be sent to the Ethereum based layer to settle.
Now for third on the list, we have Ardana.
Now Ardana is an on-chain acid-backed stable coin system that is considered to be huge for the Cardano ecosystem. Dana users may create transfer spend and receive cryptocurrency that is stored in a wallet or a vault that is compatible with Ardana. Now Danaswap is a decentralized exchange for stable coins in stable acid liquidity pools on Cardano. Not only that, but Cardano native asset stable coin loans are also possible using the Ardana protocol. The stable coin DUSD is packed into US dollars and is created by a user when a smart contract is used to generate a loan. To be eligible for a DUSD loan, the user must put up collateral in the form of a Cardano native asset such as ADA. And store it safely in a private or dynavault. The collateral must be worth a certain amount more than the loan amount, and holders can be confident in the value of the dusd coin amid market volatility since it is over collateralized. And when the stable coin loan is repaid, the collateral is freed. Now Ardana’s token is called dana. And Ardana already has a ton of unique features built-in.
Holders of ADA tokens can utilize the platform for a variety of projects, and the system is regulated by dana tokens. Holders of data tokens have voting rights and may influence the platform’s direction and growth. Stakers can also earn ADA tokens by getting involved in various yield generating activities on the platform, including interest payments, transaction fees, and much more.
Last, in the list, we’re going to have OccamFi.
OccamFi is a collection of DeFi solutions designed specifically for the Cardano ecosystem. Furthermore, it is the first and most efficient ADA DeFi entry that simulates market lending characteristics, dex tools, and liquidity. The project’s show stopper, though, is Occam razer. A decentralized financing platform or launchpad. Many innovative ADA applications can raise considerable funding through the Occam razor, and the OCM razer serves as a platform for other Cardano projects to seek funds and develop their ideas. And according to Charles Hoskinson, this initiative might contribute to the development of future Cardano projects.
By providing a variety of unique fundraising options, Occam razer will enable initiatives to raise cash. They were presenting a comprehensive functional solution that allows each project to do centralized fundraising. İt’s also designed to unleash the liquidity of Cardano’s ecosystems, and it’s suitable for a variety of fundraising profiles. Occam also aims to create a decentralized exchange or dex, and according to their whitepaper.
Occam’s ecosystem is powered by the occ token that enables a number of unique mechanisms and, most importantly, powers Occam’s governance layer.
And OccamFi is a straightforward concept targeted at 18 various sorts of companies who are looking for their first round of funding.
Now this solution has to be provided quickly through private and public grounds of fundraising. Cardano and new initiatives that seek inclusive efficient, and cost-effective decentralized fundraising will be very happy to hear about OccamFi. The Cardano community as a whole, as well as Ethereum investors, stand to gain a lot if the platform succeeds. And they’re going to do a lot more than just add on to the DeFi ecosystem is going to awaken the behemoth known as Cardano, which has been a sleeping giant for so long now.
Price Predictions
Let’s talk about Cardano’s price because I know that this is something that a lot of you have been asking questions about. Now Cardano’s price at the making of this article is around 2 dollars 36 cents. And that’s roughly 23 percent below the all-time high of 3 dollars and 10 cents. Now I have recently made an article on this stock-to-flow model on bitcoin and why September historically is not a good month for cryptocurrency. So be sure to read that article, but a lot of us have been asking for lower prices, and if you believe in Cardano as I do, then this is obviously a great time for some more accumulation before we take off to the moon.
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