Cardano Records Substantial DeFi Inflows Over 7-Day Period as Number of dApps Increases


Cardano’s DeFi TVL rises over 7-day period, with more dApps adding value to its chain

Data from DefiLlama shows that the Cardano DeFi ecosystem has attracted more capital, with a positive increase of 7.36% in the last 24 hours in its total value locked (TVL). Cardano’s DeFi saw inflows of around $21 million between July 13 and July 18. The total value locked (TVL) increased from approximately $109.55 million on July 13 to $128.31 million on July 18, reflecting this.

Cardano’s TVL currently stands at roughly $128.31 million, excluding the value of staked governance tokens. However, with staking included, its TVL is currently $155.35 million, and twelve dApps are contributing to this. This is an increase from the six dApps earlier in the year.

Wingriders (WRT) has a 35.36% dominance, with $54.94 million currently locked up. MinSwap is in second place, with $42.94 million locked up. SundaeSwap currently has a total locked value of $24.59 million.

Vasil might enable more projects to launch

The Vasil upgrade aims to deliver several crucial capabilities, which might allow the launch of additional projects while also significantly improving Cardano’s performance. Additionally, it aims to provide existing dApps with an upgrade path that might increase speed, transactional capability and script power.

To improve network performance, IOG has already started implementing several consistent parameter optimizations (such as an increase in block size and script memory units) in 2022. The Vasil hard fork, which includes the broadcast pipeline, takes things up a notch by speeding up block propagation times. and allowing better throughput.

Vasil hopes to further enhance the Plutus platform, enabling developers to produce dApps that are quicker and more effective. Plutus V2 capabilities will be accessible, starting with the epoch after the Vasil hard fork as the current Plutus V1 version is unable to use reference inputs, reference scripts or inline datums.

The Vasil hard fork is tentatively scheduled for the last week of July.


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