Evolving Cardano Ecosystem Developments, Perpetuals are Coming

Episode by Peter Bui on December 1st, 2023

From Perpetuals to DEX aggregators, the Cardano ecosystem is rapidly maturing, offering a plethora of opportunities for users and investors.

TVL and DeFi Rankings

As of November, the Total Value Locked (TVL) in Cardano’s DeFi sector shows a positive trend. Leading the chart is Indigo with a TVL of 62.6 million. Notably, Fluid Token exhibited an impressive 2,526% growth over the last month, highlighting the rapid expansion and innovation within this space.

Spotlight on Indigo

A critical development for users in the Indigo ecosystem is the recent DAO proposal to increase the Minimum Collateral Ratio (MCR) for minting iUSD to 150%. This move aims to stabilize the price of iUSD and is crucial for users to avoid potential liquidation.

Introducing TeddySwap

TeddySwap, a new DEX on Cardano, recently launched its liquidity rewards program. However, it’s important for users to be aware of the risks, such as permanent loss, before providing liquidity.

Dex Aggregators: Enhancing User Experience

DexHunter, a prominent DEX aggregator, has integrated TeddySwap, offering users additional liquidity options and potentially better trading prices. DexHunter is also developing the DCA (Dollar Cost Averaging) contract, audited by TX Pipe, enhancing the trading strategies available to Cardano users.

ADA Markets, another DEX aggregator, has introduced DCA strategies, indicating a healthy competition and innovation in the ecosystem.

OptionFlow and Dex Hunter Bringing Cardano Perpetuals

Both OptionFlow and Dex Hunter are poised to bring Perpetuals to Cardano, expanding the trading options available.

A significant proposed development in the Cardano ecosystem is the introduction of Perpetuals. Protocols are now building these instruments, mirroring trends in other crypto ecosystems, and offering an opportunity for investors to bet on the future prices of cryptocurrencies without owning them. This move signifies a maturing market, catering to sophisticated trading strategies.

Yoroi’s Developmental Strides

Yoroi Wallet, a staple in the early days of Cardano staking, is making significant strides. They’ve introduced a Fiat On-Ramp in collaboration with Banax, and integrated MuseliSwap’s DEX Aggregator, signifying their commitment to evolving with the ecosystem’s needs.

The Cardano ecosystem is clearly on an upward trajectory, introducing sophisticated tools and platforms that cater to a wide range of users, from casual holders to serious traders. These developments not only reflect the ecosystem’s growth but also its potential to offer diverse and advanced financial instruments.