📊 Cardano DeFi Ecosystem – TVL Breakdown (July 2025)
Total Value Locked (TVL) across Cardano DeFi: **$250M+**
🧠 18 active projects are driving Cardano’s decentralized economy.
Here are the **Top 10 projects by TVL** – what they do and why they matter:
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🔹 **1. Minswap (MIN)**
Cardano’s #1 DEX – token swaps, liquidity pools, farming.
*Think: Uniswap of Cardano.*
🔹 **2. Indigo (INDY)**
Synthetic assets protocol (iBTC, iETH).
*Like Synthetix but on Cardano.*
🔹 **3. Liqwid (LQ)**
Borrow/lend protocol with on-chain collateral.
*Cardano’s version of Aave.*
🔹 **4. Lenfi (LENFI)**
Lending + NFTs + P2P finance.
*Advanced, modular lending.*
🔹 **5. Djed Stablecoin (DJED)**
Overcollateralized algorithmic stablecoin backed by ADA.
*Built with COTI.*
🔹 **6. MuesliSwap (MILK)**
DEX with order book model + yield farming.
*Hybrid experience: DEX + CEX feel.*
🔹 **7. WingRiders (WRT)**
DEX with hardware wallet support + bridges.
*Focused on security & usability.*
🔹 **8. Optim Finance**
Yield optimizer – auto-compounds DeFi strategies.
*Cardano’s Yearn.*
🔹 **9. SundaeSwap V2 (SUNDAE)**
One of Cardano’s OG DEXs, now upgraded.
*Simple, clean AMM design.*
🔹 **10. VyFinance (VYFI)**
Split into Vaults (auto-farm) and Dex (swap).
*Community-first DeFi stack.*
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💬 TL;DR:
Cardano’s DeFi scene is heating up. Minswap dominates, Indigo brings synthetics, and Liqwid leads lending.
If you're stacking $ADA – keep your eyes on these protocols.
⚠️ This is not financial advice – research before interacting with protocols.
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