Kadena(KDA) Ecosystem – Absence of Basic Pieces

What arrays are on Kadena(KDA)? At what stage is the Kadena(KDA) ecosystem? Project and search for investment opportunities in Kadena(KDA) system here!!!

In recent times, ecosystems have continuously grown strongly, with the launch and development of many new protocols. Ecosystems move very quickly, with many impressive strides.

To help you catch up with an ecosystem that has experienced relatively impressive growth in recent times, in this article.

I will go through the Kadena ecosystem with you and answer the following questions:

• What arrays are on Kadena?
• At what stage is the Kadena(KDA) ecosystem?
• Look for investment opportunities and projections of the Kadena ecosystem.

We will find out through the next article!

Kadena(KDA) Blockchain Overview

What is Kadena(KDA) ?

Kadena is a platform blockchain, more specifically a hybrid blockchain (mixed blockchain) including public blockchain, private blockchain and Pact smart contract programming language.

Kadena Blockchain Layer 1 was born to solve the scalability problem of current blockchains.

Highlights of Kadena(KDA)

• Public Blockchain Kadena: Operates on a Proof of Work consensus mechanism, with an algorithm that improves throughput and scalability, but maintains the security and integrity of its predecessor Bitcoin.
• Private Blockchain Kuro: Kadena’s private blockchain solution for businesses.
• Pact Smart Contract Language: A programming language for writing smart contracts created by the Kadena team for private blockchains. Pact helps developers implement powerful, efficient algorithmic logic, perform critical operations quickly and safely, with high security.
• ChainWeb: The protocol helps to ensure the capacity of large loads across the network while ensuring security.

Outstanding parameters

Outstanding parameters of the Kadena blockchain (November 10, 2021):

• Total transactions: 1,795,076;
• Block Height: 2,138,395;
• Market Cap: $3.7 billion;
• Total Supply: 1,000,000,000 KDA.

History, current situation and roadmap

Kadena has come a long way with many memorable milestones:

• ScalableBFT (Kadena’s private blockchain) launch on AWS (January 2019): Kadena Private blockchain is free to use for all AWS users.
• Chainweb Testnet v0 public launch (March 2019): The first public testnet with 10 parallel chains.
• Pact 3.0 released (June 2019): added 3 new features including Capabilities, Module Governance, and Guards.
• Chainweb Testnet v2 public launch (August 2019): Public testnet version 2.
• Testnet Chainweb v3 public launch (September 2019): Add many new features for miners.
• Chainweb Mainnet launch phases 1, 2 and 3 (launched in October, November 2019 and January 2020): Completed Pact smart contract activation, unlocking the ability to create and deploy Dapps on Kadena.

Investor and project development team

Kadena has many major investors investing in the platform including: Youbi Capital, SV Angel, Origin Capital, Chain Fund, Compound VC, Amino Capital, Multicoin Capital, CoinFund, Scalar Capital, MetaStable, Distributed Global, Primitive Ventures, Floem Capital, Roca Capital, Susquehanna International, Kilowatt Capital, Devonshire Investors, Collider Ventures, Decentral Park Capital, ChainRock, Asimov Ventures, Limitless Crypto Investments, DTC Capital.

Especially, with the participation of Multicoin Capital – a famous investment fund that has succeeded with Layer 1 deals such as Solana, Thorchain,… Kadena will receive extremely good guidance to achieve future success future.

Pieces of the Kadena(KDA) ecosystem

Overview of the puzzle pieces on Kadena that I have collected from many different sources. Let’s start learning about the Kadena ecosystem together!

DEX

Kadena has the following AMM DEX projects:

• KadenaSwap: AMM DEX has launched beta and closed beta from May 2021 but so far has not run the mainnet. No information was found on whether the project is intended to operate in the future. You can see the project’s code on Github here.
• Kaddex: AMM DEX native on the Kadena ecosystem. Currently, this Dapp only has two basic functions: Swap and liquidity mining, and the functions of lending, farming, staking, governance and bridge will be available in the future. Currently, the application’s TVL volume is only 1 million dollars;

 

• Anedak: An AMM DEX has gone live with 300k TVL in protocol, built natively on Kadena. Currently, only 3 tokens are traded on the app including KDA, ADK (project token) and FLUX.

Comment: On the new Kadena system, there are only two AMM DEXs with a very small amount of TVL – $1.3 million for two AMM DEXs, so it can be seen that the most important part with DeFi on Kadena is still extremely sketchy, and The number of users is also completely insignificant.

This means that the ecosystem needs to improve both in terms of the quantity and quality of projects, as well as the number of users (through incentives or liquidity mining).

NFT, Game & Collectibles

Kadena has the following ways to combine gaming, NFT:

• UFO Gaming: A gaming project and IDO gaming on Kadena. This is not a native project on Kadena but the project has run in many other chains, Kadena is just one of the project’s chains. The project has a market cap of about 500 million USD with more than 30,000 holders.
• Kaden Artist: NFT Market on Kadena, currently the project has not released a product and does not have a website. The project Twitter has also been established since October 2021.
• ColorBlock: NFT Market went live on Kadena first, but the project only supports pixel art with low resolution. You can create and buy NFTs on this marketplace. Currently the project has no users using the application.
• Babena: An NFT collection on the Kadena ecosystem. Currently, this set of NFTs has also not begun to be sold and is not yet traded.
• Comment: NFT on this ecosystem is very sketchy and lacks users. The marketplace for NFTs on the platform is also incomplete, making it impossible to start NFT trading on the platform.

Looking at other ecosystems, when the ecosystem was just starting to develop, NFTs in the system sprang up and brought a large number of users in the ecosystem, although the idea is nothing new (just collectibles). fork famous NFT sets such as BAYC, Punk,…) but also brought a certain excitement to the NFT array.

However, on Kadena, there is only one such project, and this project has not started to launch NFT. Therefore, the NFT market on Kadena is still very rudimentary and not yet qualified for development.

Other puzzle pieces

• Chainlink and API3: Two oracles operating on the Kadena ecosystem. This is an extremely necessary combination for the infrastructure of the ecosystem to be complete, creating a premise for the future development of Dapps.
• PandenaCoin: Meme coin on Kadena. However, the project is still very small, has not issued a token and does not have a website.
• Wrapped Bitcoin: WBTC is in the preparation phase to bring this token to the Kadena network.
• Hypercent Launchpad: A launchpad project native to Kadena. Currently, the project has not been put into operation.
• KDLaunch: A native launchpad project on Kadena has not started yet.
• Kadena Explorer: A chain explorer created by ChainWeb. The functions on this explorer are relatively few and limited.

⇒ Comment: Kadena already has the main infrastructure pieces, but there are still many shortcomings to overcome and develop further.

On the user side, the ecosystem lacks dashboards to find Dapps in the system, explorers with token tracking functionality and many other features, making it difficult for a beginner with the system to want to find out about the status of the system. system encountered many difficulties.

The system launchpads are also available, but no projects have been launched on the two applications.

This is understandable because the number of projects and the growth rate of projects on the Kadena system are still relatively modest, so the launchpads have not had a place to play.

Memecoin is not an important “array”, but it also shows whether the ecosystem has a lot of traffic and interest, because it is only in an ecosystem with a large number of people interested that memecoin projects start. rise.

On the Kadena system, there is only one memecoin project and it has not been put into operation, making me feel clearly the current underutilization of this ecosystem.

See also: How Memes Are Dominating the Crypto World

Comments and projections on the Kadena(KDA) ecosystem

General perception

When “skin-in” the Kadena ecosystem, I noticed that the community of Twitter shills and supports the ecosystem is extremely large, although the content on those accounts is nothing special, but just tweets. Simple text and basic shill token content is quite sketchy and has little depth.

This shows that the community of the system is relatively strong and attracts a large number of new people interested after the relatively strong price growth in the past time, but the ecosystem is still not outstanding, making the content content is still relatively meager.

The main arrays on the system have not yet developed much:

• The new AMM DEX has only two applications with a modest TVL.
• Lending hasn’t appeared yet.
• Stablecoin and bridge applications are also not available on this ecosystem.

This makes the cash flow not yet eligible to enter the ecosystem, as well as attracting users to the system, facing many difficulties.

Projections

Because the KDA platform token has increased in price recently, maybe one direction of the system will be to bring this KDA platform token into the system through the AMM DEX, Lending, Synthetic, Staking pool,…

KDA is in the top 50 of the market with a fairly large market capitalization, and if this capitalization is successfully put into applications in the ecosystem (like how Solana did with SOL), this will be a large amount of TVL extremely good for this platform.

In the near future, the following pieces of the basic conditions on the system will need to be completed to create momentum for the development of the Kadena ecosystem:

• Bridges to other ecosystems need to be implemented. It is not necessary to deploy a native bridge to other chains, but just need to have a partner with existing bridge applications such as Anyswap, CBridge, Allbridge, … to be able to circulate money in and out of the system in a way easy.
• Lending and stablecoins, staking pools need to appear on this ecosystem, not only to bring KDA to participate in the ecosystem, but also to make good use of the meager money in the system.
• AMM DEX needs to add more features, explorers and dashboards need to be improved and added to optimize the user experience in the system.

Then maybe Kadena will choose the direction that many other ecosystems have done, which is to give grants to promote development in the ecosystem, as many other systems have done including Avalanche, Celo, Harmony, Fantom,…

Perhaps that is the tipping point of the ecosystem that investors can bet on, after seeing the basic pieces of the ecosystem completed in the near future.

Epilogue

MINA is currently trading on exchanges: Kucoin, Gate.io

Hopefully, through the above article, you have had a better overview of the Kadena ecosystem, understand the situation of the arrays and start looking for investment opportunities on the Kadena ecosystem.

What do you think the next direction of the Kadena ecosystem is? Which ecosystem overview do you want to learn about next? Please comment below the article to let me know!