OCCAM - The Uniswap Of Cardano?
I was reading up on OCCAM this week as I have been looking to see when Cardano are going to get their DeFi up and running. Since the conference last month things have been a bit quiet and nothing new being mentioned. Normally that means things are happening as timings have been promised, but not dates.
I am interested in this for selfish reasons as I have been investing in COTI and they are the ones behind the stablecoin DJED for the Cardano DeFi system which will run on OCCAM. One of the spokes people representing OCCAM stated that OCCAM is the Uniswap of Cardano and I think this is going to be massive.
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The benefits should be quite considerable as COTI is paid for minting and burning as required keeping the DJED coin stable. If they can come close or even surpass what UNISWAP has achieved then the benefits towards COTI would be significant. I can recall UNISWAP achieving over $100 Billion in trades back in February so if OCCAM can make this a success then I see no reason why investors wont flock here. gas fees with Ethereum have always been costly and the one promise by Cardano was that this would not be the case with their DeFi.
I have no idea how big any of this can become as I do believe DefI is still a puppy and has a long way to go yet. Most people haven't even invested in crypto yet so wait until they do and find out about DeFi plus all the institutions who haven't invested yet. Where this all leads and how big this will become is mind boggling and the being part of a service provider is where my head is thinking right now. The DJED stablecoin will be used to pay for transaction fees on the Cardano network so how big will that be?
I have been looking at OCCAM tonight and things are moving with many projects being launched and sold out. The razor app has 17 projects listed with 12 of them already sold out and the other 5 launching next week. Smart contracts are immenent for Cardano and I am very keen to see how this affects the likes of UNISWAP if it has nay effect or not. There is a bridge in place for investors wanting to move across and will be interesting to see those number sonce things start.
Having a stable coin that works and is not backed by a currency is the key as we all know the SEC is seriously considering applying regulation to stablecoins. Having a different model is not only smart but also makes sense as being backed by crypto and not the USD should keep it away from regulation.
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