The year is finally coming to an end. It feels like the fourteenth month. I’m sure you can agree that this wasn’t a good year, at least not for Bitcoin or any other cryptocurrency in the market. Then we had the Terra Luna disaster and recently, the FTX crisis. I know you’ve got a list of everything that went wrong in the market.
However, some of the best traders are already searching for what projects to add to their portfolio in 2023. And in this article, I’m going to show you 4 top projects in the Cardano ecosystem. Some of the projects have massive potential to speed up in 2023 especially after the Vasil Hard Fork.
Project 1: Meld
The first on our list today is Meld with its token, $MELD. There are several reasons why I am bullish on Meld. First of all, I like Cardano, else we wouldn’t be talking about it. Secondly, Meld is a non-custodial platform for lending and borrowing tokens.
Have you seen our MELDapp yet?
Check out this teaser below and let us know what you think 👇https://t.co/xcmgXwmtf7
— MELD (@MELD_Defi) December 8, 2022
Meld is similar to Aave, a crypto lending protocol. Both allow you to lend and borrow crypto and earn passive income. But Meld has a huge edge over other lending protocols. Meld offers fiat lending like a traditional bank.
Statistics shows that billions of people do not have bank accounts. But Meld aims to leverage crypto to provide access to financial services. Meld targets the market in Africa, Asia and South America as well as Europe and the United States. So, we can say this project has real-world application.
What does Meld do?
Here are Meld’s features:
- Crypto lending and borrowing: This work similar to other lending and borrowing protocols. Borrowing on Meld is based on market demand.
- Fiat lending: This works pretty much like regular fiat lending. Users can do this peer-to-peer and in-app which is really cool.
- Fiat borrowing: There are two types of fiat borrowing on Meld.
- Crypto collateralized loans.
- Crypto collateralized lines of credit.
The approval process for both is pretty much the same. You only have to put in more in crypto as collateral for your fiat loan. For example, If you want $100 in fiat, you have to put in $200 in crypto to be approved. Pretty simple. So, Meld uses smart contracts for repayment. So, you’ll automatically get your crypto collateral once you repay your loan. Or when you don’t repay you lose the collateral.
🔔 Happy December!🔔
🎄 Christmas season is here and over the next 25 days 📆 we’re bringing you 25 special announcements! 🔥
— MELD (@MELD_Defi) December 1, 2022
The MELD Token
The MELD token can be used to pay for transactions on the platform. It can also be staked to earn APY as rewards. At the time of writing this article, Meld trades at $0.017584. It has a max. supply of 4,000,000,000 MELD coins and 743.9 million in circulation.
Meld is the future of banking on Cardano. I’ll like to hear your thoughts on this.
Project 2: Milkomeda
The second on my list, Milkomeda, is a Cardano sidechain. Milkomeda’s use cases have already created a path for long-term scaling. The project powers apps to work in different blockchains. Milkomeda helps chains such as Algorand, Terra, Solana, and Cardano to interconnect.
Milkomeda aims to help non-EVM cryptocurrencies to achieve mass adoption. So, Milkomeda proposes several sidechains. This allows developers to write smart contracts in familiar languages. And deploy them on different chains. This makes life easier for developers on Cardano. They don’t have to learn functional programming languages like Haskel and Plutus to build on top of Cardano. So, Milkomeda lowers the entry barrier to Cardano.
“The #Milkomeda DApp Store is now live! So you can go ahead and check out all the innovative #DApps building on Milkomeda. The Milkomeda DApp store will continue to grow & evolve as the Milkomeda ecosystem does.” — Milkomeda Foundation
Learn more here!
— Milkomeda (there is no token) (@Milkomeda_com) December 5, 2022
Milkomeda plans to create a pathway for interoperability between Cardano, Solana, and other L1 blockchains. In October, it received a grant to develop the Milkomeda A1 Rollup. This brings EVM capabilities to Algorand. It also enhances blockchain interoperability.
More About Milkomeda
Another reason to stay bullish on this project is that has strong backers. For example, Milkomeda receives support from investors such as:
- Arrington Capital.
- Circle Ventures.
- Borderless Capital.
- and Coinbase Ventures.
Finally, Milkomeda has received widespread attention in the industry. It has no token. Yet, it has almost 50k followers on Twitter. And a rapidly expanding ecosystem.
There’s a lot happening on @Milkomeda_com C1, must admit I lost track of it a bit with all the activity on Cardano’s mainnet
— ADA whale (@cardano_whale) December 3, 2022
Milkomeda plays a huge role in the Cardano ecosystem. Will its value increase ADA’s price? It could. Cross-chain interoperability is the future. This means Milkomeda has a big part to play for Cardano. What do you think about this project?
Project 3: SundaeSwap
Sundaeswap is the first comprehensive DEX on Cardano. Sundaeswap has the potential to ignite the Cardano ecosystem. So, SundaeSwap is a decentralized exchange protocol for the Cardano network. It enables trustless P2P native and ADA asset exchanges. This project is all about decentralized transactions.
Today our team is excited to demo something we've been hard at work on for months:
SundaeSwap on Hydra! While a ways out, this is an important milestone in not just our scaling journey, but Cardano's as well.
We'll provide detail later, but in the meantime check out our video⬇️ pic.twitter.com/eRyUPT88QL
— SundaeSwap Labs 🍨 (@SundaeSwap) October 14, 2022
What Can Be Done With Sundaeswap?
Users can trade, stake, and lend tokens. Traders pay low fees to trade here. And liquidity providers can earn a return on their deposit. Sundaeswap is a very ambitious project. That’s what I like about it. Go through its website and pages. And you’ll see how much progress it has made in a year. The grand plan is to be the lead DEX player on Cardano. You can call it the Uniswap of Cardano.
Also, SundaeSwap has a well-designed interface. And it has enough liquidity for the needs of traders. EEBeing a leading DEX on Cardano, Sundaeswap is well-positioned to explode in the coming year. Already it has about 282k followers on Twitter. Let’s talk about its native token $SUNDAE.
SomedaySwap has arrived again! Better late than never, right?😁
— SundaeSwap Labs 🍨 (@SundaeSwap) December 12, 2022
SUNDAE now trades at s $0.01394. The current price doesn’t do justice to its potential. So, if you believe in potential, you might want to look closely at this project. We made a video about Sundaeswap in February. So, be sure to check it out when you finish here.
Project 4: COTI
Our final project is COTI is one of the most undervalued crypto projects. Coti is a short form for “currency of the internet.” It is a decentralized layer-1 platform that offers full scale payment solutions. So, COTI enables businesses, governments and organizations to issue their own tokens.
We are happy to announce that the MultiDAG 2.0 Hard Fork Testnet is Live!
We are also introducing the new COTI Explorer, which will offer a variety of stats related to the Trustchain.
— COTI (@COTInetwork) August 2, 2022
Also, COTI aims to embody the next generation of digital currencies. The payment system claims to be fast, reliable, transparent, and scalable. So Coti aims to solve an underlying problem in the fintech space. It seeks to improve online payment experience for both sellers and buyers.
In other words, COTI merges traditional finance and blockchain, and the result is pretty unique. It brings traditional finance standards such as financing, remittance, loyalty programs, and cross-platform payments with the basic use cases of DeFi. Interestingly, COTI has its own unique staking variant called Proof of Trust (PoT). This is a combination of PoW and DAG. It uses this to achieve consensus.
Why is Coti Special?
The answer is simple. Coti offers a crucial solution. We know that the future of blockchain lies in finance. So, Coti is using blockchain to simplify digital payments.
COTI is displaying tremendous social activity today. Its social engagements measured hourly hit 829.06K, 2.6K%🤯 above the 7-day average! Keep a close eye on $COTI.https://t.co/AvRbybi4r2 #coti pic.twitter.com/oeBG0AjG4q
— LunarCrush (@LunarCrush) December 6, 2022
Coti has also introduced bank accounts and VISA debit cards. This is to offer a direct connection between fiat and the crypto world. Cardano invested half a million dollars into COTI so far. And Coti accepts ADA Pay with integration into many fiat currencies. Here’s why I like Coti:
- Coti is regarded as the first global platform to create a stablecoin with stable prices. It allows users to issue their stablecoins. It has full control over their data.
- Transactions cannot be tracked to a user. This makes it a privacy-focused platform.
- Coti is secure. Users have to go through KYC procedures to join the platform.
The COTI Token
It’s native token, COTI, operates on three different mainnets:
- BNB Chain.
At the time of writing this article, COTI trades at $0.068697 with a circulating supply of 1,108,643,952 COTI coins. There is a max. supply of 2,000,000,000 COTI coins. So that’s it for now. Before you go, tell me which of the 4 is your favorite.
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