• Arthur Hayes has criticized Cardano for its lack of native DeFi dApps on the blockchain, calling it a “shithole.”
• Cardano group member Dan Gambardello defends Cardano's distinctive liquid staking system, highlighting its flexibility and effectivity.
• Gambardello highlights Cardano’s Ouroboros protocol, which ensures liquid staking with out locking up cash and is engaging to long-term buyers.

A dialog on Twitter (X) between BitMEX co-founder Arthur Hayes and Cardano group member Dan Gambardello sparked a dialogue in regards to the state of the Cardano ecosystem and its decentralized purposes (dApps). Hayes sparked a dialog with a vital tweet in regards to the lack of established DeFi dApps constructed on the Cardano blockchain.

Hayes' preliminary tweet criticized Cardano, stating that not one of the fashionable DeFi dApps listed in his chart are native to the Cardano blockchain. He argued that this lack of native dApp adoption is a weak point within the Cardano ecosystem. On this chart, fashionable DeFi purposes are featured, none of that are native to Cardano, and he declared, “That's why $ADA is crap.”

Gambardello refuted Hayes’ claims by highlighting Cardano’s distinctive liquid staking system, which permits customers to stake ADA tokens with out being locked up for a time period. Cardano's liquid staking system presents higher flexibility, with out counting on separate his dApps like Lido Finance, not like different platforms the place customers must lock their tokens for staking. and effectivity.

Cardano’s liquid staking system is constructed into the Ouroboros protocol. Due to this fact, there isn’t any must lock up your cash for a sure time period. Confiscating (slashing) cash for staker actions that don’t adjust to the wants of the protocol isn’t allowed. Gambardello additionally highlighted the safety and effectivity of the Cardano protocol, which he believes can be engaging to long-term buyers.

Regardless of predictions based mostly on technical evaluation that the ADA token worth will rise to $3, Cardano (ADA) worth stays unstable as bulls and bears compete for market dominance. This chart reveals a sequence of fluctuations during which ADA's worth spiked 10% in early February earlier than encountering resistance at $0.5331. After that, the value vary continued to commerce between $0.4756 and $0.5331 for 11 days.

One other surge pushed ADA's worth up 16%, however it declined once more at $0.6178. After a sideways transfer, the bulls pushed the value up by 12.45% and the present buying and selling vary is $0.6178 to $0.6400.