according to DeFi llama, WingRiders (WRT) has become Cardano’s leading DeFi protocol with Total Value Locked (TVL). The protocol currently holds a 42% advantage in the chain, with $ 51.77 million locked.
The next closest competitor, Minswap, has a TVL of $ 40.73 million, down 81% from its peak of $ 211.53 million on March 28.
Wing Riders set itself apart from the competition
WingRiders is an automated market maker (AMM) decentralized exchange (DEX) running in Cardano. eUTxO Layer 1.
This brings some advantage Beyond the accounting model DEX, including d, as seen in EthereumA flexible environment to reliably handle multiple operations, given the deterministic charges and the use of abundant data values.
according to White paperThe team has set out to leverage Cardano’s transaction-based model to provide a reliable and inexpensive way to trade crypto tokens.
CryptoSlate has contacted Wing Riders for an explanation of their recent success. Kaaran Kalantari, a spokesman for the company, said this was due to several factors, including the interest generated by the project’s future IDO.
In general, the reputation of Stablecoin has been knocked out recently, but Calantari still considers them an important component of the crypto industry.And Wing Riders are the only “real” [Cardano] The Stablecoin Marketplace provides Cardano users with access to this major market.
“Stablecoin stimulates trust and promotes higher levels of trading. Our users can buy tethers and USDC and none of our competitors offer major stablecoins. In addition, competitors do not offer the potential for yield farming with these stablecoins. “
Market turmoil and the role of DeFi in this
DeFi has been criticized as a contributor as Terra collapses and the ongoing industry-wide liquidity crisis progresses.
However, Karantari takes a philosophical view, stating that DeFi is an innovative and innovative technology that exposes users to “some inherent risk.” Nevertheless, the spin side of accepting this risk is the possibility of making money.
“DeFi is driving cutting-edge technology that opens up the future of the financial system, and whenever we tackle this level of innovation, there are some inherent risks. Of course, we can also make money.”
Project Outline Roadmap Indicates that the team has completed the IDO and plans to incorporate the changes as a result of the Vasil upgrade before the end of the second quarter.
