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HomeCrypto NewsMarketMilkomeda Cardano Sidechain Records $78M in Total Value Locked Across Three Dapps In Two Days

Milkomeda Cardano Sidechain Records $78M in Total Value Locked Across Three Dapps In Two Days

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Milkomeda Cardano (ADA) Sidechain Finally Launches With Enticing Features.

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After nearly a year of development, the Milkomeda team has announced the launch of Milkomeda C1, a protocol that enables Ethereum-based decentralized applications (dApps) to be launched on the Cardano blockchain. 

Widespread Adoption

Since the dApps went live on Milkomeda, Cardano enthusiasts have flocked to the protocol using the decentralized exchanges to swap supported cryptocurrencies for one another. 

Aside from swapping, the Cardano community has also committed large amounts of ADA to the available pools on the decentralized exchanges. 

At press time, over $78 million have been recorded in total value locked (TVL) across the various pools launched on Milkomeda-based dApps.  

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Milkomeda C1 Features

Following the launch, the Cardano community can now adopt some of the most audited smart contracts in the crypto space, especially those running on Ethereum, at a relatively low cost. 

Using the Milkomeda C1 protocol has been made easy for everyone, including people with little to no programming knowledge. 

According to the Milkomeda team, people can start using the protocol in two simple steps: creating an EVM-compatible wallet like MetaMask and moving their Cardano assets to the Milkomeda protocol. 

Once the necessary setup has been made, the user can start accessing all EVM-compatible decentralized applications launched on Milkomeda such as MilkySwap, OccamX, Nomad, MultiChain, Celer, and MesliSwap. 

Milkomeda hinted that more dApps, including decentralized APIs networkAPI3, cross-chain communication platform Connext, and community-driven AMM digital exchange protocol Blueshift, will be launched on the network in the near future. 

 

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Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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