Cardano Acquires Its First Oracle Integrator, But ADA Refuses
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Cardano launched its first oracle integrator, but ADA prices remain low.
Cardano’s first oracle integrator, Charli3, launched April 6. Liqwid, Cardano’s flagship DeFi project, integrated the platform’s oracles.
Charli3’s decentralized node network allows projects to give accurate, secure data to their platforms and users. Chainlink for Cardano.
Cardano-based algorithmic liquidity market protocol Liqwid connects lenders and borrowers.
The announcement underlined its importance to the ecosystem:
“This is a MAJOR occasion for the Cardano ecosystem as a whole, showing that projects are following the continuous push for full decentralization on Cardano.”
INTEGRATION@liqwidfinance is Charli3's, and Cardano's, first Oracle integrator! championing the way to full #decentralization for the #CardanoCommunity SHEN/USD and ADA/USD. more feeds to follow for Liqwid markets.https://t.co/Zb1jm8X6CB
— Charli3 Oracles live FREE ADA/USD feeds (@Oraclecharli3) April 6, 2023
Cardano Oracles
According to Liqwid co-founder Dewayne Cameron, “Charli3 is Cardano’s first decentralized oracle infrastructure on mainnet, working with the talented developers that built this protocol and seeing their clear vision for the evolution of Cardano DeFi has been insightful and super motivating!”
Charli3 can also provide precise SHEN/ADA prices on-chain. Next will be ADA/USD.
According to Liqwid, the oracles will calculate new loans, collateral values, and under-collateralized loan liquidations.
The release emphasized that new initiatives will have more on-chain trust-building chances.
Liqwid claimed to be the most-used Cardano DeFi protocol by transaction volume a few days ago.
Transactions are led by NFT marketplace jpg.store on Cardano Dapps.
StakingRewards ranks Cardano second in staked value behind Ethereum. Its stake ratio is 66% and its market capitalization is $9 billion.
ADA Pricing Dull
ADA prices have struggled to reach $0.40 in recent months.
CoinGecko reports ADA trading at $0.38, down 1.7%. The asset has risen 15% in the past month but is far behind Bitcoin and Ethereum.
Unlike most crypto assets, ADA is still 87% behind its September 2021 all-time high.
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