One of the best performer assets in the crypto top 10 by market cap, Cardano (ADA) keeps strengthening its ecosystem. As the network prepares for its next major Hard Fork Combinator (HFC) event, called Vasil, its DeFi sector could add some of the most popular assets in the space.
Related Reading | Majority Of Cardano (ADA) Holders In Loss As Price Slides To $1
At the time of writing, ADA’s price trades at $0.95 with a 2% profit in the last 24-hours.
Cardano could soon have native support for Tether (USDT), and USD Coin (USDC). Charles Hoskinson, this network’s inventor, and CEO at Input Output Global (IOG), shared his enthusiasm for WingRiders.
Wingriders is one of the most exciting DEXes to launch on Cardano and now they are bringing stablecoins! https://t.co/Rpsl9znhyl
— Charles Hoskinson (@IOHK_Charles) April 12, 2022
A decentralized exchange running on Cardano, WingRiders partnered with another two projects called Flint Wallet and Milkomeda, created to provide sidechains with friendly user and developer UX, to launch these stablecoins on the mainnet.
According to a Medium post, Milkomeda will implement the Ethereum Virtual Machine on their Cardano sidechain. This sidechain will operate with a synthetic version of ADA called wrapped ADA (wADA).
In practice, this will allow users to leverage the Milkomeda sidechain and wADA to connect with Ethereum, as seen in the diagram below. This will remove friction from the process of trading ERC-20 tokens with native Cardano tokens. WingRiders…