The Vasil update was triggered on the Cardano mainnet on September 22nd, while the full features were deployed on September 27th. The impact of the Vasil update can be seen as Cardano dApps are seeing a significant increase in user activity, with Cardano DEX Muesliswap showing a 788% growth over the past 30 days.
Cardano dApps
MuesliSwap, which bills itself as the first decentralized exchange for Cardano and Milkomeda and the first hybrid DEX on Cardano, launched its Plutus v2 contracts and liquidity pools on October 5th.
For MuesliSwap, Vasil provided significant benefits by drastically reducing transaction size and market operation fees. The Cardano DEX reported a nearly 91% drop in transaction size from 14.73 KB to 1.31 KB and also a nearly 50% drop in fees from 1.44 ADA to 0.73 ADA comparing Plutus V1 and V2.
To sue
TVL unaffected, but NFT space changes
Several weeks after the Vasil update, the Cardano TVL, which refers to the total value locked in its DeFi ecosystem, remained mostly unchanged. According to DefiLlama, Cardano’s TVL is $65.39 million. With staking included, TVL sits at $84.16 million. AadaFinance (AADA) shows 80% TVL growth over the last 30 days. ADAX pro’s TVL has also increased by 21% over the same period.
While the TVL remained unaffected after Vasil, the NFT space is growing with over 6.4 million native assets minted in 63,064 policies. Cardano has also made inroads into the top three NFT chains amid a huge surge in 24-hour NFT trading volume.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.