- Charli3, Cardano’s first oracle integrator, was launched on April 6.
- Despite this development, ADA prices have remained lackluster.
Cardano has achieved a major milestone with the launch of its first oracle integrator, Charli3, on April 6. Charli3 provides a decentralized node network that allows projects to supply secure and safe data to their platforms and users. It can be viewed as the Cardano version of Chainlink.
Liqwid, a leading DeFi project on Cardano, has integrated the platform’s oracles, which could create more on-chain opportunities for new projects to secure trust in the ecosystem. However, despite this development, ADA prices have remained lackluster, struggling to top $0.40.
Charli3: A Major Milestone for Cardano
According to Liqwid co-founder Dewayne Cameron, the launch of Charli3 is a major milestone for Cardano’s continuous push towards full decentralization. Charli3 is now capable of producing accurate on-chain oracle feeds, such as prices for SHEN/ADA, with ADA/USD being the next oracle price feed to be integrated. Liqwid will use the oracles for calculations to create new loans, update collateral values, and initiate liquidations for under-collateralized loans.
ADA Prices Remain Low Despite Developments
Despite the launch of Charli3, ADA prices have not reacted much over the past couple of months, struggling to top $0.40. At the time of writing, ADA is down 1.7% on the day, trading at $0.38, according to CoinGecko. While the asset has gained around 15% over the past month, it is still way behind Bitcoin and Ethereum in terms of price increases. Furthermore, ADA is still a painful 87% down from its September 2021 all-time high, whereas other crypto assets are starting to recover.
In conclusion, the launch of Charli3 is a significant development for Cardano, but it hasn’t translated into a surge in ADA prices. However, the integration of oracles on Cardano’s blockchain could create more on-chain opportunities for new projects to secure trust in the ecosystem.