2021 was a big year for Cardano why the Alonzo upgrades for smart contracts finally implemented on the Cardano ecosystem, there was mixed reviews on this some say it took way too long I just thought it was worth the wait either way Cardano is currently the fourth largest coin on Coinmarketcap and projects on Cardano they haven’t gotten much media coverage .
- Top 10 Cardano Projects On 2022
So on the 12th of September 2021 Cardano fans felt a sigh of relief a moment they’d eagerly been waiting for but also Cardano naysayers didn’t believe would ever happen the Alonzo upgrade was rolled out and smart contracts finally , went live on the network now although Cardano is still such a few steps behind its more developed blockchain rivals in terms of decentralized apps there are actually some really interesting reports showing that developer activity on the network, actually overtakes the likes of Ethereum, Solana and even avalanche so it is worth taking a look at some of the most significant dApps in the Cardano ecosystem and also how they could shape the future of blockchain.
- API3 (API3)
API3 (API3) is a Web3 API platform connecting web APIS directly to smart contracts now there are some similar functions to Chainlink although API3 brands itself as a first party Oracles in contrast to different third-party providers like Chainlink, API3 actually promises to deliver data more securely more efficiently, and also transparently than its competitors its light weight first party data feeds these beacons that then connect to Web3 APIs to off-chain data like crypto stocks commodity.
prices one interesting point to note is that instead of relying on per cool payments API3 uses a really simple fixed subscription pricing model in its native API3 token, API3 plans to power different d5 related use cases on Cardano like lending Stablecoin insurance funds and even NFT with this solution.
- Ergo (ERG)
Ergo a decentralized exchange built by a team that also worked on developing Cardano itself Chainlink and Waves, this isn’t the respect of Charles Hoskinson Cardano founder himself who actually called it one of the most revolutionary cryptocurrencies ever built, pretty big statement so we’re going to look into it the Ergo uses automatic swaps therefore eliminating the need for token wrapping and gateways and allowing the exchange to function without centralized intermediaries this also enables ergo to offer other features like lima orders that are usually reserved for centralized exchanges.
The platform offers the option to store coins for a long-term storage fee, and these are specifically for coins stored longer than four years coins moved once every four years are not subject to this fee, and coins lost can slowly be recovered over time.
- ADAX (ADAX)
ADAX is decentralized and non-custodial liquidity protocol, that actually allows users to trade their coins without giving up control of them here’s what I mean by trading against the automated market maker ADAX actually removes an order books model of complexity and time consuming features, while still providing users with the liquidity to execute substantial trades ADAX plans to release the version 1 of its exchange this quarter and really envisions NFT swaps and ERC20 bridge as part of its future development plans.
- Theos (THEOS)
THEOS it’s one for the NFT ,users out there Theos is a smart liquidity protocol for NFT providing a decentralized creator-based financial ecosystem on the Cardano blockchain it’s backed by some influential heavy hitters in the entrepreneurial space that include, Matt sorum and dirk alborn now Theos it vows to provide the ultimate solution for a non-fungible Token and also a fungible multi-token environment.
Users can mint NFT with a simple drag and drop tool and use their NFT to create liquidity protocols allowing them to borrow against the NFT as classroom .
- Ardana (DANA)
Ardana is a Stablecoin ecosystem integrated with Cardano, its DUSD stablecoin is backed by collateral allowing investors to leverage their ADA and also borrow against it utilizing a similar mechanism to make a dial, so as a user you can actually mint new DUSD by providing ADA as collateral it’s done swap decentralized exchange is designed for multi-asset pools, meaning you as a user can swap between stablecoins and also other assets with really low slippage and this is where it gets interesting.
Actually on top of that data swap features a foreign exchange service where users can swap their stablecoin between different currencies like DUSD, dEUR and dGDP perfect for Transfer.
- OccamFi (OCC)
on the DeFi side of things we have OccamFi this is a suite of decentralized financial solutions for the Cardano ecosystem this provides really important DeFi infrastructures like Dax tools liquidity pools and launch pad capabilities.
OccamFi flagship project is a decentralized funding platform called OccamFi Razzo, which actually acts as a launch pad for DeFi projects on Cardano and some pretty notable projects have launched on Auckland browser such as MeowSwap which is a NEZHA a blockchain-based liquidity engine for prediction markets and we cut a decentralized mobile internet, sharing network
- Charli3 (C3)
Charli3 is another decentralized oracle solution that plans to pull data from APIS and hash them on Charli3 to provide data streams to protocols Charli3 has incorporated price fees on the public card Cardano test net and also has a working node reputation list that ranks data providers according to their trustworthiness,
in the near future Charli3 plans to expand this ranking, by allowing data providers to stake its native C3 token and also back up data reliability through a proof of stake consensus mechanism.
- MELD
MELD is a DeFi protocol that incorporates fiat loan capabilities into the crypto ecosystem, in other words MELD provides a run-off-the-mill d5 capabilities like lending and borrowing in crypto but without the need for KYC, its service involves creating a fairly standard financial product like under classrized debt positions with a talon value ratio of 50 percent now you as a user can take out a loan with 50 percent of the collateral value and if the loan total value reaches 85 the collateral is then liquidated and users receive their outstanding position minus a liquidation fee of five percent .
- SundaeSwap (SUNDAE)
SundaeSwap is a native decentralized exchange but also a liquidity provision protocol and it’s quite interesting because it promises DeFi functionalities like staking borrowing and also landing this means that it works similarly to protocols that are also seen like Uniswap but it also functions as a native Cardano solution, so what does SundaeSwap promise well its main objective is to democratize the ownership of the profits make it really really efficient for you as a user and also offer liquidity provisions and the effective empowerment of Cardano DeFi ecosystem now given that its idea has actually been delayed multiple times there are some lofty goals here which the exchange will have a hard time delivering on especially as they face problems with token swapping from ADA all the way through to Sundae.
SundaeSwap now started speaking with one of our next projects about how they could work together SundaeSwap and Cardstarter actually entered into a marketing and collaboration agreement in June 2021, and there has been some updates since .
- Cardstarter (CARDS)
Cardstarter our final Cardano blockchain project for today a decentralized accelerator and token swap platform that connects early stake innovators with investors projects that are part of the Cardstarter accelerator program have access to a range of services like token engineering security audits and also support for social media and branding campaigns .
Token holders actually receive early access and guaranteed allocations to seed rounds, and pre-sales and developers they can also benefit from unlocking a pool of trusted and vetted investors, all the projects that are on, the platform actually manage to contribute to the tokens insurance treasury which provides investors with financial protection against the project’s failure, Cardstarter has been in the news lately and developers signed an agreement with SundaeSwap the last project we discussed and while the outcome of this agreement is still pending between the two projects.