Cardano gets its first oracle integrator, but ADA pulls back
CriptoFácil – The network continues to launch news, but this is not contributing to boost the price of . Last Thursday (6), the blockchain gained its first oracle integrator, Charli3. Responsible for the integration was the Liqwid platform, a leading Decentralized Finance (DeFi) project on the Cardano network.
Charli3 is Cardano’s first decentralized oracle infrastructure on the mainnet. Oracle provides a decentralized network of nodes with the framework for projects to deliver safe, accurate, and secure data to their platforms and users. It would kind of be on Cardano. That is, it connects data from the physical world with blockchain data. This on-chain and off-chain data can take many forms, in asset prices, weather, game scores, sports scores, and more.
Meanwhile, Liqwid is an algorithmic liquidity market protocol built on Cardano for lending digital assets. Users can earn interest on deposits and borrow assets, while earning ADA income from various revenue streams.
Cardano gets its first oracle
According to the integration announcement, the arrival of the first oracle to Cardano is a big deal for the ecosystem as a whole:
“This is a HUGE occasion for the Cardano ecosystem as a whole, showing that projects are following the continued push towards full decentralization in Cardano,” wrote the Charli3 Oracles team on Twitter.
In a Charli3 blog post, Liqwid co-founder Dewayne Cameron highlighted that “working with the talented developers who built this protocol and seeing their clear vision for the evolution of Cardano DeFi was insightful and super motivating.”
ADA pulls back despite oracle on Cardano
While the integration appears to be exciting for those involved and for the Cardano network, ADA investors don’t seem to be in the mood. This is because the price of the seventh largest cryptocurrency by market cap has not reacted well to the announcement – at least for now.
Instead, the price of ADA has retreated by around 1% over the past 24 hours, according to data from CoinGecko. At the time of writing this article, Cardano’s cryptocurrency is costing US$ 0.37, or R$ 1.92 in its quotation in reais.
Furthermore, the ADA price is still around 88% below its all-time high price of R$16.01, reached in September 2021.
By CriptoFacil