The total value locked (TVL) of all Cardano-based tokens jumped to over $440 million late earlier this week, crossing the previous peak of $330 million set in April.

Value locked on Cardano’s ecosystem grew rapidly in the past few weeks as a recent boost in Ethereum alternatives, such as Solana and Avalanche, is likely pushing crypto investors and users toward other blockchains in search of returns and capital allocation.

The total value locked (TVL) of all Cardano-based projects jumped to over $440 million late earlier this week, crossing a previous peak of $330 million set in April. Most growth seemingly occurred over the past week, with lending protocol Indigo and on-chain exchange Minswap seeing their TVL surge by over 50% to nearly $100 million each.

Djed DJED stablecoin, a token pegged to the U.S. dollar, saw a supply increase of over 45% in the past week – indicative of capital inflows toward the token as investors looked to capitalize on yields.

Meanwhile, value locked on relatively smaller protocols LendFi and Spectrum Finance, has surged by 90%, suggesting users were starting to take riskier bets.

Such on-chain growth has boosted the price of Cardano’s ADA token, which is used to pay for network activity. The tokens surged some 17% in the past 24 hours, helping extend monthly gains to nearly 80%, data shows, and a 100% growth in leveraged futures bets on further ADA price volatility in the same period.

As such, Cardano’s DeFi ecosystem has surged alongside those of other blockchains.

The total amount of capital locked or staked across all decentralized finance (DeFi) protocols reached $50 billion at the start of December for the first time in six months, led by Solana ecosystem protocols as optimism around the blockchain has picked up in recent weeks.

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Source: Vietnam Insider

The DEX previously said traders lost a significant amount of ADA due to a “misunderstanding” about how the platform operates, but confirmed it would refund losses at the time.

MuesliSwap, a Cardano-based decentralized exchange (DEX), would soon open its claims window to refund high slippage losses said to have been incurred over a 12-month period, the team told CoinDesk in an X message on Thursday.

Concerns around the refunds resurfaced last week as some members, such as @beaumont_dvd, said they were waiting for the self-claim refund site to open more than three months after MuesliSwap’s initial statements.

However, refunds for losses have been available and processed via opening a support ticket on the forum platform Discord MuesliSwap told @beaumont_dvd in a message viewed by CoinDesk. These would be processed by providing personal wallet details directly to the platform.

In contrast, the self-claim site would allow anyone to automatically connect to the Cardano network and receive the purported amount of Cardano’s ADA tokens said to be lost in the form of high fees.

The DEX is among the most-used platforms on the Cardano blockchain. It locks over $13 million in various tokens as of Thursday, data shows.

Scores of users in August reported they had been paying high fees in the form of slippage over a 12-month period, prompting an online backlash at the time.

MuesliSwap developers said then that the users lost money due to a “misunderstanding” about how slippage on the platform worked.

Market makers — or trading participants who fill buy and sell orders — were able to “fill the limit order and choose whether to return the additional slippage amount or retain the difference at their discretion, the team said at the time.

In trading, slippage refers to a market participant receiving a different trade execution price than intended due to factors such as available liquidity. On DEXs, users can manually set a slippage level they are comfortable with.

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Source: Vietnam Insider

The upgrade 8.1.1 also contains software patches for minor issues from a previous node version.

An upgrade to reduce epoch transitions to make the Cardano blockchain smoother for network users was released on Monday by developers.

Epochs refer to the time periods on the Cardano blockchain. Each epoch lasts 432,000 slots, and each slot lasts 1 second – meaning a single epoch lasts roughly five days. ADA tokens are staked during these epochs during which new blocks on the Cardano network are produced.

Upgrade 8.1.1 changes how epoch calculations are made in a way that speeds up network processes during the change in epochs.

The upgrade also contains fixes for issues related to peer-to-peer network communications and the Cardano-based domain name system.

ADA prices remain little-changed in the past 24 hours, trading at 25 cents as of European morning hours on Tuesday, according to CoinGecko.

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Source: Vietnam Insider