Cardano has gained so much popularity, which has brought about a rise in the number of investors and holders. Furthermore, the recent growth in cryptocurrency adoption has seen the platform attract big investors willing to invest their assets because they are optimistic about the future of the technology.
Cardano’s founder, Charles Hoskinson, built the network to become a decentralised platform that users will accept globally in September 2017. This development occurred a few years after he left Ethereum as a co-founder.
The initiative behind the creation of the blockchain was to provide a decentralised platform where users can take control and have freedom over their money and security.
The ecosystem could be tomorrow’s blockchain as its developers continue to create more upgrades that could benefit projects and improve the crypto adoption rate. Here are some of the best projects to look out for on the Cardano blockchain in 2022.
Sundaeswap is a decentralised exchange native token built on Cardano blockchain to automated liquidity protocol. As a result, Sundaeswap has risen to become Cardano native token.
This decentralised exchange provides liquidity and a market for people. In exchange, users pay a small transaction fee for swapping, while in return, the liquidity providers earn a return on their deposit. It will be excellent if Cardano can replace Uniswap with SUNDAE. It’s also believed that it’s leading the race to become Cardano’s leading DEX.
Ardana is a decentralised stable asset liquidity pool and asset-backed stablecoin system built on Cardano. The stablecoin is over-collateralised through on-chain Cardano native assets, and the decentralised exchange enables very capital-efficient trade among stablecoins.
In addition, Ardana is Cardano’s MakerDAO, meaning DANA can be minted to USD using ADA as collateral. It also helps secure value storage while preserving value in volatile markets.
sUSD is a stablecoin project launched by Ardana, which is verifiably backed by on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets.
Danaswap is another automated Market Maker coming soon on Ardana (DANA). It is a decentralised exchange for stable asset pools. Danaswap is a highly capital-efficient platform that enables swaps with minimal slippage. Both Danaswap and sUSD are coming soon to DANA.
Cardano has worked with technical talents from reputable companies like Apple, Barclays, Microsoft, Jane Street, Jordan’s Central Bank, Mina Protocol, the Plutus, Emurgo Academy, and Pioneers Program.
Related: Cardano Outranks Bitcoin Among the World’s Top Intimate Brands
Created on Cardano, Meld is a decentralised protocol and lending platform that uses smart contracts governed by the MELD token.
It is a Decentralised Finance initiative that uses cryptocurrency assets as collateral for fast cash loans while also allowing investors to earn a higher rate of return on their fiat holdings.
The MELD token also provides a range of products, including MELD debit cards that can be used as credit collateral against crypto investment.
Liqwid Finance provides access to financial services and credit that hope to favour the general public. Liqwid is a non-custodial interest rate protocol that is open source and built for lenders, borrowers, and developers. However, users can earn interest on deposits and borrow assets confidently while making ADA through four yield streams.
Liqwid finance features include earning, transparency and permissionless, crypto-backed loans, global utility pool, and fair token launch. All transactions are carried out using smart contracts, with collateral backing each.
Adax is a digital currency exchange that facilitates transactions and investments across multiple blockchains. Adax is an automated liquidity protocol that enables trades within the ADA ecosystem in a completely decentralised and non-custodial way.
However, Adax offers an ERC-20 converter tool to help organisations that wish to migrate their tokens to Cardano. This service is also made available to token holders who want to migrate their ERC-20 to the cardano network.
This article has shown you all you need to know about Cardano and the top five projects to look out for in 2022. While this is not a piece of financial advice, you should do proper research before putting your money into any crypto project.
In the long run, Cardano is one of the most profitable crypto investments, bringing attraction to the blockchain itself. This quality has led the blockchain to witness a series of inflow explored by other projects built on the ecosystem, offering solutions to problems that investors and prospective users might encounter.
Read more: 5 Things You Didn’t Know About Cardano (ADA)