1️⃣ Cardano’s DeFi comeback is official.
According to Messari’s State of Cardano Q3 2025 report, ecosystem TVL grew +22.8 % QoQ → $341.7 M, its highest level since 2022.
And Liqwid Finance led the charge. 💧
Read the source:
📘 Messari – State of Cardano Q3 2025
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💧 Explore Liqwid →
2️⃣ Liqwid dominates Cardano DeFi.
Messari highlights Liqwid as the #1 protocol by TVL — up 50.8 % QoQ → $101.6 M, now accounting for ~30 % of total Cardano DeFi liquidity.
Growth was driven by expanding ADA-backed lending and new stablecoin markets (USDM / USDA).
3️⃣ Stablecoins power the expansion.
Stablecoin capitalization rose 21.5 % → $38.1 M — led by:
• USDM $12.9 M (+17 %)
• USDA $10.4 M (+4.8 %)
• DJED $4.5 M (+6 %)
• USDC $3.3 M (new entrant)
Liquidity depth from fiat-backed assets is strengthening Liqwid’s collateral base.
4️⃣ Institutional & RWA tailwinds.
Messari notes Cardano’s pivot toward real-world assets (RWA) and institutional DeFi readiness:
• Cardano Foundation preparing an 8-figure ADA liquidity package
• New RWA pilots (e.g., MembersCap $10 M program)
• CIP-113 / 143 and agent-to-agent payment frameworks (x402, Masumi)
Perfect future alignment for CGold + Direct Lending.
5️⃣ Stronger infrastructure & governance.
With on-chain treasury governance live, Cardano funds now flow toward DeFi initiatives.
Technical upgrades — Halo2 ZK verifier, Mithril v2, and NEAR Intents — improve scalability and cross-chain liquidity → ideal for future BTC DeFi expansion on Liqwid.
6️⃣ TL;DR for Aquafarmers 💧
Messari confirms it:
• Liqwid = Cardano’s largest DeFi protocol
• TVL and stablecoin flows at multi-year highs
• Institutional and RWA rails taking shape
• Perfect setup for LQ utility & protocol revenue growth
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