The Cardano (ADA) team responsible for the development of TapTool recently tweeted to explain why they believe the Total Value Locked (TVL) on the Cardano network could experience exponential growth.
In their tweet thread, the Cardano team stated that they believe Cardano’s unique Proof-of-Stake (PoS) model makes it a strong competitor in the Decentralized Finance (DeFi) space. They argue that as DeFi adoption continues to rise, Cardano’s secure, scalable, and eco-friendly solution will attract more users and projects to the platform, leading to exponential growth in Total Value Locked (TVL).
In addition, the group said that the use of smart contracts on Cardano network has made it possible for developers to construct highly effective decentralized apps (dApps) on the platform. They hypothesize that the TVL will increase proportionally as more decentralized applications (dApps) are brought into circulation.
TapTools pointed out that Cardano has been actively focusing on financial inclusivity and real-world use cases, especially in emerging markets. This approach is expected to provide massive growth potential for the platform as more users join the ecosystem and contribute to the Total Value Locked (TVL).
Recently, Paima Studios made an announcement stating that they have integrated with the Cardano network. This integration now allows Cardano users to use their ADA tokens directly on the Cardano network to play on-chain games.
These recent development are seen as a significant step towards expanding the adoption of Cardano, as it brings together the benefits of blockchain technology and gaming to create a unique user experience.
