The Best “Pitch” for Cardano DeFi in 2023? Expert Weighs In

In a recent post on X, “Cardano Whale”, a prominent Cardano (ADA) community figure, outlined a compelling pitch for what he believes would best describe Cardano’s decentralized finance (DeFi) ecosystem in 2023.

Cardano Whale first highlighted the network’s robust security features alongside its proven track record of over five years. According to him, Cardano’s chain has high security with no significant risk of hacks. Interestingly, he argued Cardano has suffered no downtime for the past five years.

If I had to put together a rough pitch for Cardano DeFi as it is in 2023, it would go something like this:

1. Chain aspects
– High security, lower risk of hacks, no downtime and proven 5y+ track record
– Fully decentralised, P2P network, ADA is well distributed. Low…

— ADA whale (@cardano_whale) October 18, 2023

Furthermore, the ADA influencer noted that another aspect Cardano shines is its fully decentralized architecture and peer-to-peer network. He also argued for Cardano using the uniform distribution of ADA tokens and low deterministic fees.

The ADA Whale added Cardano’s vast and expanding investment universe. He listed assets like WMT, BOOK, INDY, IAG, COPI, and NEWM, which all form a diverse portfolio in telecom, entertainment, DeFi, gaming, and storage assets. According to the influencer, the diverse portfolio of Cardano-based assets shows the network is not specific to DeFi. He added that it shows “economic activity is not imported but originates” in Cardano.

Furthermore, he spotlighted Cardano’s yield markets, arguing it is economically sound. According to ADA Whale, Cardano’s risk-free staking yield, available in a liquid and non-custodial form, “is at the core of all DeFi markets.”

In parallel, the post also discussed Cardano’s sharded whole chain order book, facilitated by eUTxO. The influencer noted that this feature allows aggregated limit orders, offering traders and investors market depth and transparency. He added that it enhances scalability and market efficiency.

Moreover, ADA Whale’s post pointed out the implementation of a hard fork combinator for seamless upgrades and a self-funding mechanism to ensure long-term sustainability. Besides, the analyst recognized Cardano’s multi-asset ledger as a valuable tool for portfolio management. He claimed that it allows various assets to be represented in native token format for easy management and transfer between different protocols.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source