Developers who specialize in creating projects based on cryptocurrency can now heave a sigh of relief as they have more than Ethereum Blockchain as the foundation for their ideas. The Cardano Blockchain is another alternative where tons of projects have been built since its development.
This article provides a list of some of the outstanding projects that are built on the Cardano Blockchain for investors to check out in 2022.
- Ardana
Uniqueness is Ardana’s selling point. As a major player in the stablecoin space, this project is backed by ADA as collateral. The project offers users who store their digital assets on its platform secure storage and asset preservation. This is irrespective of the market’s stability or volatility.
The DUSD stablecoin is built on Ardana while the multipurpose project can be used for lending or minting digital assets. It can also be used to stake or transfer them too.
Ardana is also an exchange where users can exchange stablecoins and other stable assets that include but are not limited to the two Bitcoin variants: synthetic and wrapped. That’s in addition to the DanaSwap pool that allows users to deposit their assets and earn some rewards for such investment.
The project’s uses are not limited to cryptocurrency exchanges. As a financial institution, Ardana offers DUSD loans to investors who meet its requirement: using ADA as collateral. The motive is to tap into ADA’s increasing acceptance and popularity in the crypto world.
Some Cardano-based DeFi projects aren’t finding it easy to grow and be stable. ADA can help them to fix such issues.
- Ravendex
Ravendex stands out from the pack as an exchange that doesn’t hold users’ private keys in its custody but rather gives them absolute control of their digital assets.
As a Cardano-based project, Ravendex uses the Automated Market Maker protocol to make asset trading faster at a fixed price.
The team gave an insight into the project’s uniqueness by shedding light on its digital asset borrowing and lending capability, a major reason behind its astronomically-increasing popularity among digital asset lovers who appreciate user-oriented exchanges.
Ravendex uses the Alonzo Hard Fork to encourage asset depositing through smart contracts. Such investors will be rewarded with tokens according to previously established investment rules and regulations.
The Cardano-based project also supports smooth native token swapping or trading and makes it easier for exchanges to use its EUTXO feature for liquidity pooling.
- OccamFi
OccamFi is a major DeFi project that shows superiority over its competitors by offering its users better features and services.
OccamFi’s features include DEX tools, a liquidity pool, and launchpad capabilities that endear it to cryptocurrency lovers and make it a leading name in the DeFi ecosystem.
Several DeFi applications are supported by this project as proof of its versatility. Its users can also perform other functions such as digital asset borrowing or lending on the platform. They can also exchange cryptocurrencies as well. That’s in addition to offering DeFi project developers an avenue to raise funds for their ideas.
The team has also concluded plans to launch its DEX soon as it is out to take the Cardano Ecosystem by storm.
Source: https://www.livebitcoinnews.com/outstanding-cardano-based-projects-in-2022/