Cardano dApps record significant increases in user activity
The Vasil update was rolled out on the Cardano mainnet on 22 September, while the full capabilities were deployed on 27 September. The impact of the Vasil update is seen as a significant increase in user activity of the Cardano dApp, with Cardano DEX Musselswap showing an increase of 788%. last 30 days.
MuesliSwap, which describes itself as the first decentralized exchange for Cardano and Milkomeda and the first Hybrid DEX on Cardano, launched its Plutus v2 contracts and liquidity pools on Oct. 5.
For MuesliSwap, Vasil provided significant benefits in significantly reducing transaction sizes and market operating fees. The Cardano DEX reported an almost 91% reduction in transaction size from 14.73 KB to 1.31 KB, and a nearly 50% reduction in fees from 1.44 ADA to 0.73 ADA when comparing Plutus V1 and V2.
TVL unimpacted, but NFT space is changing
Several weeks after the Vasil update, the Cardano TVL, which refers to the total value locked in its DeFi ecosystem, remained mostly unchanged. According to DefiLlama, Cardano’s TVL is at $65.39 million. With the inclusion of staking, TVL is at $84.16 million. AadaFinance (AADA) is demonstrating 80% growth in TVL in the last 30 days. The TVL of ADAX pro is also up 21% in the same time frame.
While TVL had no impact after Vasil, the NFT sector is on the rise, with over 6.4 million domestic assets across 63,064 policies. Cardano also broke into the top three NFT chains amid a huge jump in 24-hour NFT trading volume.
