Here are some of the cryptocurrencies that are participating in the Cardano ecosystem
Cardano is a decentralised blockchain platform launched by Ethereum co-founder Charles Hoskinson. It’s greatly appreciated for deploying environmental-friendly and social projects. Therefore, Cardano blockchain is among the top 5 crypto projects in terms of market cap.
Recently, the platform has become a centre of attention, bringing Smart Contracts to its ecosystem via a hard fork combinator event. In this new blockchain era, developers can create native tokens, multi-asset ledgers, and even issue stablecoins. Thus, many prominent projects are joining the ecosystem.
ADA – Cardano
Market cap: $66.12B
ADA is the native token of the Cardano blockchain. Its symbolic name represents Ada Lovelace – a 19th-century mathematician who is recognised as the first computer programmer. Every ADA holder has a stake in the Cardano network and can earn rewards. In time, ADA will also be usable for applications and services on the Cardano platform.
LINK – Chainlink
Market cap: $13B
Chainlink is a blockchain abstraction layer that enables universally connected smart contracts through a decentralised oracle network. The oracle solution gives access to real-world data and off-chain computation, able to retrieve data from any API and integrate with any current or future blockchain. LINK is the token used to pay for services on the network and to incentivise nodes to perform their work properly and provide accurate data. It is also now available on DeFi Swap allowing investors to earn some returns.
CEL – Celsius
Market cap: $1.1B
Celsius is a banking and financial services platform for cryptocurrency users. It offers rewards for depositing cryptocurrency, cash loans with crypto collateral, and wallet-style payments. Celsius’ native token, CEL, performs different internal functions, including boosting user payouts, decreasing loan interest, and earning weekly rewards on savings, if used as the payment currency.
CRV – Curve DAO
Market cap: $1.8B
Curve is an exchange liquidity pool on Ethereum designed for stablecoin trading. The pools are based on external protocols (like Compound) that allows users to choose the most profitable yield rates. CRV is a governance token on Curve with time-weighted voting and value accrual mechanisms. CRV can be staked (locked) to receive trading fees from the Curve protocol, boost rewards on provided liquidity, and vote on DAO proposals and pool parameters.
NEXO – Nexo
Market cap: $1.5B
Nexo is a DeFi lending institution that enables users to receive instant cryptocurrency-backed loans. It was the first platform to accept crypto as collateral for mortgage loans. The project also offers high-yield savings and exchange services, and plans to launch a debit card linked to the Nexo wallet. NEXO is a cryptocurrency that powers this blockchain lending platform. It gives users an opportunity to join the loyalty program, get higher earning rates and the lowest borrowing rates, as well as participate in any future governance votes.
ERG – Ergo
Market cap: $277M
The Ergo platform is a programmable blockchain that enables developers to create DApps. Ergo has been developed on Bitcoin’s UTXO model with the implementation of Multi-Stage Contracts. ErgoDEX, Oracle Pools, SigUSD, and ErgoMixer are the flagship prototypes of UTXO-based DeFi solutions. The platform also has a decentralised exchange and a crowdfunding platform in development. The project uses an improved mining algorithm and has no gas fees which is a huge benefit. Ergo’s native token has shown impressive growth this year, gaining over 1770% since January.
Market cap: $416M
COTI markets itself as the first enterprise-grade digital fintech platform, which eliminates all intermediaries and empowers any organisation to build their own payment solutions and create branded stablecoins. It has been built on DAG technology and is designed to meet the challenges of traditional finance. COTI Pay is a hybrid payment solution working for both online and offline payments. It also provides instant settlements and financing options. The project has also developed a remittance DApp, and an end-to-end solution for building blockchain-based loyalty networks. Besides the usual benefits of native blockchain coins, COTI owners can participate in the COTI NFT game, winning rewards and collecting unique NFTs.
AGIX – SingularityNET
Market cap: $334M
SingularityNET is a decentralised marketplace for Artificial Intelligence (AI) tools. The online platform allows its users to create, share, and monetise AI services at scale. The long-term vision of the project is to build a network of complex AI Agent interactions, and ultimately to develop SingularityNET into a functioning AI system itself, with nodes on the network making their own decisions about how to connect services and proactively provide solutions to academic and business problems. AGIX tokens vested in 30-day staking sessions are used to fulfill blockchain transactions on the platform and bring rewards to their holders.
XVS – Venus
Market cap: $310M
Venus is an algorithmic money market and synthetic stablecoin protocol on Binance Smart Chain (BSC). The protocol introduces crypto asset lending and borrowing solutions to the DeFi ecosystem. Funds held within the protocol can earn APY based on the market demand for that asset. In addition, Venus allows users to mint VAI stablecoins on-demand within seconds by posting a collateral to the Venus smart contract. Those stablecoins are backed by a basket of stablecoins and crypto assets without centralised control. XVS tokens are used for governance of the Venus protocol, and can be used to vote on adjustments such as adding new collateral types, changing parameters and organising product improvements.
ORN – Orion Protocol
Market cap: $229M
The Orion Protocol has been designed to aggregate the liquidity of multiple crypto exchanges into a single decentralised platform. The protocol operates through collecting the liquidity on offer on multiple exchanges within the crypto market and showcasing it in a single universal API. Additionally, Orion provides a marketplace for DApps. The Orion Token (ORN) is the native utility token of the Orion Protocol. ORN can be used in the Orion Terminal and for decentralised brokerage.