DeFi is coming to Cardano after Project Catalyst Launch
Weeks before the official activation of Smart contracting in the Goguen stage, Cardano is already preparing for #DeFi. Following the launch of Project Catalyst by Charles Hoskinson and IOHK, Liqwid will be the first lending market on the peer-reviewed platform.
Smart contracting will go live in the next few months, tentatively in Q1 2020. A few months back, Shelley was activated and helped decentralize the network. With a solid base and a community-funded initiative to spur development in Cardano, Liqwid will be the first DeFi project to receive public funding ($250k in ADA coins) and launch a lynchpin service beneficial to the growing Cardano ecosystem.
Impact on the ADA Price:
Bullish. Through DeFi and settlement of fees--though comparatively low, there will be more demand for ADA as the network becomes more vibrant, expanding from being just a transactional layer.
More market updates on our Blog