Cardano-Based DeFi Protocol Climbs Ranks to Join Top 10

Indigo, Cardano-based DeFi protocol, has risen to prominence, entering top 10 of overall DeFi ecosystem

The autonomous synthetics protocol allows users on-chain price exposure to real-world assets. Simply put, it enables users to trade virtual versions of real-world assets on the blockchain, expanding the realm of possibilities in the DeFi space.

MakerDAO retains its dominance, sitting at the helm with a staggering TVL of $4.78 billion. As a decentralized credit platform on Ethereum,allows users to create and manage the DAI stablecoin. Following closely is JustStables, another protocol operating on a single chain, with a TVL of $1.644 billion. Rounding out the top three is Liquity, a decentralized borrowing protocol, which has managed to lock in assets worth $648.34 million.

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