Who is the Cardano DeFi Alliance and why does it matter?

In line with the hottest Cardano DeFi ecosystem standardization practices, the Cardano DeFi Alliance (CDA) provides a framework for protocol developers to collaborate on key issues and strategic development.

First announced in mid-December, the CDA aims to promote the benefits of the Cardano blockchain with the goal of setting DeFi industry standards.

“CDA’s main mission is to provide collaboration between major DeFi protocols, provide open source libraries, create best practices, and innovate within the CardanoDeFi ecosystem.”

Formally building Cardano’s DeFi ecosystem seems like a step in the right direction as long as co-development progresses. However, critics claim that the dApp ecosystem does not yet exist 15 weeks after the Alonzo smart contract was deployed.

Who is the Cardano DeFi Alliance?

The CDA consists of DeFi developers, infrastructure providers, and Plutus engineers. They intend to “communicate, educate and innovate through this organization.”

Part of their vision is to share information and solutions. In addition, establish a platform for listening and discussing in the spirit of “cooperative competitiveness”.

“Members are committed to participating in the CDA with a spirit of openness, collaboration, and collaborative competitiveness.”

To that end, CDA recommends signing up for all Cardano DeFi projects. As they say, all voices should be audible, plus the additional benefit of number strength.

Elephant in the room

Currently, there are no dApps available in the Cardano ecosystem, so points for collaboration organizations will be invalidated.

This criticism has grown intensified since Alonzo was released in September, but I / O (IO) CEO Charles Hoskinson continues to ensure that things are in shape. increase.

Earlier this week, Hoskinson took up the story of the “all lies” Cardano ecosystem directly during the live stream.

“That’s actually the opposite, and in fact a huge DeFi ecosystem is starting to emerge.”

So he introduces livestream viewers to the cardanocube.io website, which displays an interactive ecosystem map.

Here, numerous projects are categorized into DEX, wallet, lending, marketplace, DeFi, infrastructure, lunchpad, community, memecoin, stablecoin, oracle, identity, payment, social, data, gambling, games, NFT. It has been.

Hoskinson adds that he is aware of 127 different projects that are currently building or actively building the Cardano blockchain.

As far as publicly available dApps are concerned, IO bosses said DEX will be rolled out in the coming weeks and the ecosystem will be full.

That’s why the role of CDA is more important than ever. Hoskinson mentioned meeting the organization early in the new year.

He said he would like to hear what the CDA is saying about how to improve the platform through Cardano Improvement Proposals (CIP). Currently, 30 are in the process of discussion.