Now what about Cardano coins? We mean the cryptocurrencies that come out on Cardano’s blockchain, of course. In recent years, the cryptocurrency and blockchain space has witnessed a significant surge in innovation, with projects aiming to revolutionize the world of traditional finance. Among these groundbreaking initiatives are MinSwap (MIN), Indigo (INDY) and Liqwid (LQ), each with its own unique approach to the table. As Kriptokoin.com, we will examine the basic concepts and usage types of these Cardano coins. We will also focus on the latest news and growth potential.
MinSwap (MIN) in Cardano coins
MinSwap is a decentralized exchange (DEX) built on Cardano’s blockchain. It facilitates peer-to-peer trading of various cryptocurrencies and tokens. It’s important to say that MinSwap is the first multi-pool DEX with yield farming features on Cardano.
It works using automated smart contracts. It also provides transparency. On the other hand, it minimizes the risk of fraud. Investors can safely exchange one cryptocurrency for another. Accordingly, they can contribute liquidity and participate in decentralized governance to earn rewards.
Recently, MinSwap announced a major upgrade to its platform. It introduces new features to improve liquidity delivery and improve the trading experience. The upgrade includes advanced algorithms that reduce the price range and optimize trading pairs. Additionally, MinSwap introduced the local governance token MIN, which empowers users to vote on protocol decisions and further decentralizes control.
According to DeFillama, MinSwap is the dApp with the highest TVL in the Cardano ecosystem with $54.12 million. At the time of this writing, the numbers are as follows:
- Price: $0.0223.
- 24-hour trading volume: $93,000.
- Total Supply: 5 billion tokens.
Indigo (INDY)
Indigo is a pioneering project that aims to bridge the gap between traditional finance and the blockchain space. An all-in-one financial platform, Indigo aims to provide users with access to synthetic assets within its community.
The platform offers services such as swap (beta), yield farming, lending, borrowing and staking, making it a versatile ecosystem for individuals looking to grow their portfolios. Here are some things that make this protocol so interesting:
- CDPs Are Effectively Credits: When you remove a CDP, the protocol allows you to print an iAsset. It’s like getting a loan for your ADA in a particular iAsset. You can also sell this iAsset on the open market for ADA.
- Users can raise their ISPO/Staking Balances: You can create a CDP, then sell the iAsset for ADA. With this ADA you create a new CDP and repeat the cycle. A very effective way to increase rewards.
- Mint iUSD is an important stablecoin in Cardano.
According to DeFillama, Indigo is the dApp with the second highest TVL in the Cardano ecosystem at $39.19 million. At the time of writing this article, the numbers are as follows:
- Price: $3.43.
- Market cap: $20 million.
- 24-hour trading volume: $79,379.
- Total/Max Supply: 35 million tokens.
liqwid (LQ)
Liqwid is a decentralized protocol running on the Cardano blockchain. Smart contracts are moderated where users have voting power and staking rewards. Liqwid primarily caters to users within the Cardano community. This allows them to lend their idle assets and generate passive income while supporting the growth of the ecosystem. Borrowers can access capital without selling their assets. This allows them to participate in various opportunities without disrupting their investment strategy.
Recently, Liqwid has passed a successful third-party security audit, increasing confidence in its security and reliability. The audit report praised Liqwid’s robust smart contract architecture and safe handling of user funds. This solidifies its reputation as a reliable lending platform.
According to DeFillama, Indigo is the dApp with the third highest TVL in the Cardano ecosystem at $19 million. At the time of this article’s writing, the numbers are as follows:
- Price: $4.21.
- 24-hour trading volume: $22.140.
- Total/Max Supply: 21 million tokens.
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