DeFi

June 5, 2023

Cardano DEX Minswap Enters Top 15

Minswap’s ($MIN) weekly volume pushed it above Quickswaps ($QUICK) for the past seven days, putting Minswap in 14th place. 🤯

DefiLlama – Click to enlarge.

Recently, Cardano’s native token, $ADA, saw a notable upswing in large transactions amounting to an impressive $2.5 billion within a single day.

Almost all of the activity has been due to Minswap – look at the 24h volume and the 7d volume. 👀

DefiLlama – Click to enlarge.

Alongside, the total value locked (TVL) in the blockchain’s decentralized finance (DeFi) segment displayed significant growth, catapulting to more than $180 million.

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Technically Speaking – December 1, 2023

December 1, 2023

There’s also a noticeable uptick in the trading volume on Cardano’s decentralized exchanges (DEXs), which suggests a growing interest in decentralized trading and the increased liquidity of ADA tokens.

The DeFi ecosystem on Cardano also set new records with an all-time high of 463 million ADA tokens, symbolizing consistent DeFi expansion on the network. In addition, the TVL in Cardano’s DeFi sector has seen a steep rise from around $50 million at the year’s start. 

Even as ADA’s short-term price movement displays some volatility, the consistent inflow of large transactions underlines sustained confidence in the long-term potential of Cardano and its associated assets.👌

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Technically Speaking – December 13, 2023

Deck the halls with boughs of FOMO, indeed. 🎄

The Fed’s decision and dovish tone gave risk on markets all the reasons they needed to go full-blown bull mode – and crypto was no exception. 

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According to Wormhole, a cross-chain bridge for wrapped tokens and NFTs, more than $310M in assets migrated from Ethereum to the Sui ecosystem. The funds sent to Sui exceeded all other blockchains combined. 

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DeFi

August 30, 2023

Huge Win For DeFi And DEX: Uniswap’s Court Victory

Grayscale isn’t the only winner this week; Uniswap got a big win today, too – with some crypto experts claiming this case is more important and a bigger deal than the XRP vs. SEC case. 😱

The court’s ruling in favor of $UNI and its associated entities is not just a singular decision but likely a landmark moment for the entire DeFi and DEX ecosystems. 

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DeFi

October 6, 2023

Cardano’s Privacy Chain Is Incoming

Announced by IOK and after four years of waiting and development, the Midnight devnet is finally prepped for its debut. 🎂

What is Midnight? The easiest way to describe is as a privacy chain on Cardano.

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DeFi

June 4, 2023

Crypto 101: The Role Of Lending On DEXs

Lending is a core component of many DEXs. 🔄

These lending protocols allow users to borrow or lend digital assets, with interest rates typically determined algorithmically based on supply and demand dynamics.

How does lending Work in DEXs?

Borrowers deposit a certain amount of digital assets (often referred to as collateral) into the protocol. The collateral is usually more than the amount they wish to borrow.

The difference between the loan amount and the collateral is known as the collateralization ratio.

For example:

  • If a borrower deposits $150 worth of Ethereum ($ETH) as collateral
  • And borrows $100 worth of DAI 🪙
  • The collateralization ratio would be 150% 💹

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DeFi

June 4, 2023

Crypto 101: Unpacking Automated Market Makers

Automated Market Makers (AMMs) are the lifeblood of decentralized exchanges (DEXs). They use algorithms to provide liquidity for trades, ensuring a smoother, decentralized trading experience.

But not all AMMs are created equal. This guide will dive into different types of AMMs and their ideal use cases.

Constant Product Market Maker (CPMM)

Used by platforms like Uniswap ($UNI), the CPMM model abides by the formula x*y=k, keeping the product of two token quantities constant. 

Great for general trading pairs, it does come with a downside called “impermanent loss,” which can impact liquidity providers’ profits. 🟣

Constant Mean Market Maker

This model, utilized by Balancer ($BAL), accommodates multiple tokens in a pool with different weights. It’s like an upgraded version of the CPMM, offering more flexibility but retaining some vulnerability to impermanent loss. 🟠

StableSwap Invariant Market Maker

Designed for stablecoins (cryptocurrencies pegged to stable assets), Curve Finance ($CRV) uses this model to minimize impermanent loss, keeping things steady and secure. 🔴

Hybrid Function Market Maker

Bancor’s ($BNT) model allows liquidity providers to stake just one token instead of two, mitigating the impermanent loss problem. It also keeps a separate stash of Bancor Network Tokens (BNT) for every listed token. 🟢

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