Cardano Gets Its First Oracle Integrator But ADA Falls Back

Cardano has achieved a new milestone as it has got its first oracle integrator, Ergo, to expand its development ecosystem. This partnership is significant as it will enable developers to access off-chain data to build decentralized applications on the Cardano blockchain. Despite this positive news, ADA, Cardano’s native cryptocurrency, has experienced a slight fall back in price. Nonetheless, the developments in Cardano’s ecosystem can attract more investors and promote the adoption of ADA in the long term.

Charli3 Brings Decentralized Oracles to Cardano with Liqwid Integration

Charli3, the first oracle integrator on Cardano, has successfully integrated Liqwid’s oracles into its platform. Liqwid, a leading DeFi project on Cardano, now has access to Charli3’s decentralized node network for secure, accurate, and safe data.

Charli3 can be seen as the Cardano version of Chainlink, and Liqwid is an algorithmic liquidity market protocol built on Cardano for lenders and borrowers. According to Liqwid co-founder Dewayne Cameron, Charli3 is Cardano’s first decentralized oracle infrastructure on mainnet, and the protocol’s evolution for Cardano DeFi has been insightful and super motivating.

With Charli3’s ability to produce accurate on-chain oracle feeds, Liqwid can now calculate new loans, update collateral values, and initiate liquidations for under-collateralized loans. This move creates more on-chain opportunities for new projects to secure trust in the ecosystem.

However, while Cardano is the second-highest network for staked value behind Ethereum, ADA prices have not reacted much over the past few months. At the time of writing, ADA is trading at $0.38, down 1.7% on the day, and way behind Bitcoin and Ethereum in terms of price increases. Nonetheless, Liqwid recently claimed to be the all-time most used Cardano DeFi protocol by transaction volume.

In conclusion, the integration of Liqwid’s oracles into Charli3’s platform is a major milestone for the Cardano ecosystem in its continuous push for full decentralization. This integration opens more doors for new projects seeking to secure trust within the Cardano DeFi landscape.

Possible titles:
1. Charli3 Launches Decentralized Oracles on Cardano with Liqwid Integration
2. Cardano’s First Decentralized Oracle Integrator Charli3 Partners with Liqwid

Leave a Comment

Google News