Cardano dApps Witness Rapid Growth in Unique Accounts With Indigo Protocol Increases 62,109%
Within the last five days, decentralized application projects on the Cardano network have seen an incredible spike in the number of unique accounts. Of all these projects, Indigo Protocol saw a staggering 62,109% increase in its amount of unique accounts, making it the leader with the highest growth.
Cardano Daily, an unofficial Twitter account dedicated to Cardano-related news, recently revealed a remarkable success. They stated, “The clear winner in terms of unique account growth is @Indigo_protocol – a project which has just gone live in the past week. Congratulations on such an outstanding start!” Cardano Daily shared a dashboard with further details about the top projects.
The dashboard shows that Indigo Protocol has had 835 individual accounts since it began operating on the mainnet, with a tremendous increase of 62,109% in the same period. Coming in second is Aada Finance’s DeFi protocol, which has seen a 278% upsurge in unique accounts over the last five days, totaling 1.8K.
ADAO, a project that was initiated by the community, has seen an impressive 97% rise in its unique accounts over the last five days and now stands at 134. Flipr, an NFT marketplace, follows closely behind with a 96% surge to 898 accounts. SmartClaimz, a platform for rewards and distribution is fifth with 199 unique accounts and an 82% increase.
Minswap, the DeFi protocol, saw a 79% increase in its unique accounts over the last five days, resulting in a total of 53K accounts. WingRiders had 12.7K unique accounts after a 62% rise, which put it in seventh place on the top list. MuesliSwap experienced a 56% surge and now has 40.3K accounts, placing it eighth overall.
Artifct and Epoch Art are the ninth and tenth biggest NFT marketplaces, respectively, with increases in activity of 42% and 27%. Artifct has 744 individual accounts, while Epoch Art has 5500.
Cardano Experiences a Swift Rise in Innovation
The large increases in distinct accounts show the increasing acceptance of the Cardano system, as different developers promote it using a multitude of initiatives. Cardano Daily reported that nearly half of the possessions with the biggest growth in unique accounts were from the DeFi sector, signifying that more people are focusing on this area as markets try to bounce back.
Last Thursday, Charles Hoskinson, co-founder of Cardano, drew attention to reports that there was a 90% rise in the daily active addresses on the network. Additionally, this year saw a 300% increase in Plutus-based smart contracts to 3,791 on Saturday with ongoing improvements being made to the network.
In an effort to encourage further innovation, it was announced that the stablecoin DJED is scheduled to be launched on the Cardano mainnet in January 2023.
Last Monday, Indigo Protocol debuted the first USD-backed stablecoin on Cardano’s network, called iUSD. Furthermore, in the near future Cardano will have another stablecoin, USDA from EMURGO, launching in early 2023.