Many cryptocurrency projects are now built on Cardano Blockchain to take advantage of its awesome features, as well as its astronomical growth and popularity in the Crypto world.
While several projects have been launched on the Cardano Blockchain, these are the top 3 projects we can easily mention:
Ardana
This is a completely decentralized exchange that is backed by collateral. As one of the leading stablecoins, it can be used for secure value storage and thereby preserve the value of the stored asset, even if the market is volatile.
The Cardano-based DUSD stablecoin is built on Ardana. It serves several functions, such as minting, transfers, staking, and lending, an assurance that its users aren’t restricted to a single operation.
It can also be used to exchange stablecoins and stable assets, such as synthetic or wrapped Bitcoin, all without much slippage.
Ardana users can deposit their assets into the DanaSwap pool and earn trading fees from the market-making fees. As a financial institution, it allows users to obtain DUSD loans with their ADA assets as collateral. This is because ADA has the potential to appreciate while its utility makes it a favorite among many cryptocurrency investors.
ADA was designed to help Decentralized Finance projects on the Cardano Blockchain be stable and grow properly.
Ravendex
Ravendex brought the idea of a decentralized exchange where users have absolute control over their private keys into the cryptocurrency space. It uses the Automated Market Maker protocol to operate on the Cardano Blockchain. The protocol enables it to use the Cardano Ecosystem to speed up asset trading at a price determined by the liquidity of the ecosystem.
The decentralized exchange helped users understand its uniqueness. According to the Ravendex team, the idea is to champion the cause of borrowing and lending digital assets through a dedicated platform. The Alonzo Hard Fork makes this possible because smart contracts can use it to deposit assets according to some rules and collect interests on the deposited asset.
Ravendex’s users who need a credible platform to swap or trade native tokens can do that on Ravendex. The decentralized automated market maker protocol uses its eUTXO architecture to allow liquidity pooling among exchanges.
OccamFi
The project is a unique DeFi with outstanding features that its competitors will envy. Besides combining some of the best qualities of other players in the industry, the project will offer DEX tools, launchpad capabilities, and a liquidity pool. Its qualities make it the leading name in the Cardano DeFi ecosystem.
OccamFi is a versatile launchpad where several DeFi applications are founded. The project also offers other capabilities as it allows users to borrow and lend digital assets or fund new DeFi projects on the Cardano Blockchain.
The OccamFi team isn’t resting on its oar but is putting everything in place to increase the ecosystem’s value. It also plans to launch a DEX very soon to increase its values and offer users improved services.
These three projects on the Cardano Blockchain are some of the best in the cryptocurrency world and investors will do well to consider them.
Source: https://crypto.news/top-3-cardano-based-projects-of-2020/