With the successful launch of the Cardano Alonzo Hard Fork or The Cardano Smart Contracts, many projects may thrive in the crypto space. Moreover, many Decentralised Platforms tend to run on the Cardano blockchain, else are on the verge to migrate from the other platforms. In fact, some of the projects like Cardax, CNFT, Sundaeswap, Singularity, etc could flourish which in turn could fuel the Cardano (ADA) price.
Ergo DEX is a non-custodial, decentralized exchange that aims to provide quick and hazel-free transfer of liquidity between ERGO & Cardano networks. The platform completes its Orderbook DEX, AMM DEX core development and AMM Frontend development. However, the platform is yet to roll out the Orderbook DEX Frontend development and ErgoDEX for Cardano.
It is a bundle of DeFi solutions, specially tailored for the Cardano ecosystem. Moreover, it’s the first and most efficient entry to the ADA DeFi that sims to deliver market lending features, DEX tools & liquidity. The showstopper of this project is its decentralized funding platform or launchpad called OccamRazer. And through the OccamRazer IDO (Initial DEX Offering) many disruptive ADA applications can get significant funds to rise.
Cardstarter is the primitive incubator, launchpad and insurance program for the projects on the Cardano network. It is mainly an accelerator and a swapping platform connecting the Cardano innovators and the donors.
Cardano partnering with Singularity is one of the biggest moves in the crypto space. Additionally, it is the first AI, blockchain collaboration that aims to build AI + blockchain tools together. The platform is currently on Ethereum but it has already begun the second phase of its migration to Cardano. Moreover, the company’s native token AGI will be the first major token release on the Cardano network.
It is a decentralized exchange protocol specially designed for the Cardano network. Here one can swap, stake, lend, borrow SUNDAE tokens in a truly decentralized way. However, the SundaeSwap is under development and the initial functionalities are could go live in Q4 of 2021.
ADAX is an automated liquidity protocol that aims to facilitate trade within the Cardano ecosystem. The trades would be completely decentralized and non-custodial. Moreover, the platform plans to roll out an ERC-20 Converter that enables its users to convert their Ethereum tokens to Cardano and vice-versa.
It is the liquidity protocol for the non-fungible tokens(NFT’s), moreover, it’s a creator-based decentralized financial ecosystem. The platform has completed with its phase 1 and phase 2 of its development. Phase 3 that comprises Auctions, DELPHI pools, Voting + Governance and user-facing system features would be out by the end of 2021.
Cardax is a DEX that enables users to exchange ADA with any native tokens of Cardano. However, the DEX is ready with its protocol design, Frontend, backend development & Plutus smart contract deployment is underway. And after the code review & security audit, the DEX is could go live in Q4 of 2021.
It’s a Cardano marketplace for NFT’s which was launched in July 2021. The user can buy or sell their tokens in exchange for ADA.
Indigo protocol is a derivative liquidity protocol on Cardano. Moreover, it is an algorithmic, autonomous synthesis protocol for on-chain price exposure to the real world.
Collectively, with the lauch of Cardano Smart Contracts, some promising projects have thrived in the crypto space. These projects aim to provide very tough competition for the other blockchains, mainly Ethereum. Moreover, the surging ETH gas fees still remains a huge concern. And therefore if these projects boom in the space, a subsequent impact on Cardano(ADA) price could be imminent.