How Does the Cardano Ecosystem Support Decentralized Finance (DeFi)?

How Does the Cardano Ecosystem Support Decentralized Finance (DeFi)?

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Cardano has been steadily building its DeFi ecosystem since the Alonzo upgrade introduced smart contract functionality. Several projects, such as SundaeSwap, Minswap, and Indigo Protocol, have launched decentralized exchanges (DEXs) and lending platforms on Cardano. Unlike Ethereum-based DeFi, Cardano offers lower transaction fees and improved security due to its UTXO model. The growing DeFi adoption on Cardano may influence the ADA price as more liquidity enters the ecosystem.