There are updates and developments in the Cardano ecosystem that took place last week. Therefore, Altcoin Buzz takes a look at those updates from the last week in January to keep readers informed.
Last week, a Cardano-based platform announced a partnership with Robatz Network. Besides, we’ll have an overview of Cardano ecosystem performance in the month of January. Let’s take a look at the latest updates.
1 – Cardano-Based Platform Partners Robatz Network to Aid Development
ADALend, a Cardano-based decentralized lending protocol, is partnering with Robatz with the aim of developing the ADALend protocol. This partnership will also make the platform more useful for interested users.
With this partnership, interested developers will be able to confirm the status of the protocol which includes UI, UX, liquidity etc. In addition, Robatz will contribute in the designing and implementation of the protocol architecture which begins in Q2 2022.
Exciting announcement everyone! 🚀
ADALend has partnered with Robatz Network and they will be taking charge of the development 😉😏 Check out the article for more information 📌 https://t.co/cVmK262fVP
— ADALend (@ADALend_finance) February 2, 2022
2 – Cardano Ecosystem Performance in January
During the week, a report from Cardano Blockchain Insights shows the ecosystem’s performance in January. The report shows:
- Four million completed transactions in January, which is a 17.8% rate of increase.
- $75.4 million in Total Value Locked (TVL), which is a 9,037% rate of increase. Also, note that DeFi TVL refers to the total value of assets stored in every DeFi blockchain.
- The blockchain also recorded 2.99 million wallets, a 12.24% rate of increase. As well as, 1.11 million delegated wallets, which is an 11.53% rate of increase.
- 1,068 Plutus Scripts, representing a 13.02% rate of increase.
- In addition, there were 44,602 policies, which is 7.62% more than the previous month.
Our January roundup of Cardano on-chain stats is here📈
Interested in knowing more about these stats?
Let's start with this..
Cryptionary term: Total Value Locked (TVL)
— Cardano Foundation (@CardanoStiftung) February 1, 2022
3 – ADAX DEX Goes Live on Cardano
ADAX DEX, a decentralized finance (DeFi) system, is now live on the Cardano blockchain.
The custodial and order-book-based platform is designed to be like Uniswap on Ethereum and PancakeSwap on BSC. It also adopts the Cardano blockchain Plutus smart contract to facilitate proper decentralization.
Besides, there is other notable information about the platform:
- ADAX is working on supporting CCVault and GeroWallet. But, it currently works with Nami Wallet.
- The platform allows concentrated liquidity orders and on-chain swap execution. This makes it very efficient and attractive in the DEX space.
- ADAX also eliminates congestion and concurrency-related problems via separating every order into lesser unspent transaction outputs (UTXOs).
ADAX #DEX v1.0 is now LIVE on the MAIN-NET!
— ADAX PRO (@adax_pro) January 30, 2022
$ADA Price Outlook
As of the time of publication, Cardano’s price was $1.03 with a 24-hour trading volume of $961,490,683. Besides, ADA prices dropped by 4.4% over the last 24 hours. It also has a circulating supply of 32 billion ADA coins and a total supply of 45 billion.
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