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

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.

Best Cardano farming yields on this fine Friday morning:@MinswapDEX
ADA/SOCIETY 93%
ADA/MCOS 78%
ADA/NMKR 68%@SundaeSwap
ADA/YUMMI 68%
ADA/NMKR 66%
ADA/WMT 22%@wingriderscom
ADA/NMKR 108%
ADA/AADA 43%
ADA/WRT 40%@adax_pro
ADA/ADAX 47%@MuesliSwapTeam
Coming soon 🙂

— ADA whale (@cardano_whale) October 14, 2022

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.