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HomeCrypto NewsMarketThese DEXES Offering Best Farming Yields On Cardano, As Minswap Maintains DEX...

These DEXES Offering Best Farming Yields On Cardano, As Minswap Maintains DEX Top Spot By TVL

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Minswap, SundaeSwap, WingRiders, And ADAX Pro offer the best farming yields this Week On Cardano.

In a tweet today, ADA whale disclosed that Minswap, SundaeSwap, WingRiders, And ADAX Pro offered the best yields this week on the Cardano network.

As per the Tweet, Minswap offered yields of 93%, 78%, and 68% on the ADA/SOCIETY, ADA/MCOS, and ADA/NMKR pairs, respectively. While SundaeSwap offered yields of 68%, 66%, and 22% on the ADA/YUMMI, ADA/NMKR, and ADA/WMT pairs, respectively. Meanwhile, WingRiders offered yields of 108%, 43%, and 40% on the ADA/NMKR, ADA/AADA, and ADA/WRT pairs, respectively, with ADAX PRO offering a 47% yield on ADA/ADAX.

It bears mentioning that October has been a difficult month for protocols on the Cardano network as Total Value Locked (TVL) is in decline. Notably, losses felt in the first week have continued, as TVL has declined by nearly $7 million since the previous report

DeFi Llama data shows that TVL in 6 of the top 9 Cardano protocols has declined by at least 6% in the past week. Notably, third place SundaeSwap is the top loser, with its TVL declining by 12.98%.

The TVL of all protocols on the Cardano network currently sits at $67.93 million. Minswap continues its dominance, accounting for 51.15% of that value with $34.74 million.

It bears mentioning that Cardano’s TVL saw a temporary spike in September in anticipation of the Vasil hard fork. However, the excitement has been short-lived, as the TVL is now declining again as the bear market cycle continues in the face of macroeconomic concerns.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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