Over the last few months, Cardano’s ecosystem has grown with over 100 projects, now more so with the latest edition of the Alonzo hard fork. With the Alonzo fork, any project can deploy smart contracts, and almost 100 smart contracts were created within the first 24 hours.
Numerous potential rich projects are being launched on the Cardano chain. While every project has its own merits, some projects display expert use of Cardano blockchain with a unique and intuitive approach. Here are the top three Cardano Projects that every investor should look out for.
PhotoChromic is a Cardano-based blockchain project that creates biometrically managed self-sovereign identity on the blockchain. “PhotoChromic provides the ability to securely verify an individual’s information via an NFT. Subsequently, the tokenized NFT’s can be programmable, are universally addressable, and open the door for additional functionality.“
PhotoChromic is built by cryptographers and aggregates biometric proof of life, government-backed identity verification, unique personal attributes, and social media attestations into on-chain assets to be utilized for blockchain-based identity verification and Web3 applications.
PhotoChromic is a blockchain protocol that enables valuable utility on the internet to bond a user’s identity with their digital and physical assets, valuable relationships, and digitally signed agreements. The project is primarily based on the Ethereum blockchain and Cardano blockchain. It will be expanded to have multi-chain capabilities starting with Polygon and other Layer 2 chains. The native token $PHCR is an ERC-721 compatible token that implements the functions needed to link an identifier with several attributes.
Paribus is a Cardano-powered borrowing/lending platform that supports unconventional and conventional crypto assets to help users unlock liquidity and interact with the crypto market without liquidating their assets. The project operates on a core principle of, “If it can be sold, there is a market value. If it has value, it can be modeled.”
The project’s MVP will initially support assets on Arbitrum, with scalability to support many more assets in future iterations, such as NFTs. As the concept of on-chain value is volatile, Paribus aims to unlock the true potential of assets using decentralized financial products and their inclusive, borderless, and interoperable capabilities.
Paribus takes inspiration from its predecessors such as yearn.finance and other similar dApps. The project operates using “pools of assets” powered by algorithmically derived interest rates and based on the supply and demand relationship of an asset.
The wallet is built for new and experienced users alike with its simple-to-use wallet and plans for a feature-rich interface to include fiat on/off ramps, staking, yield farming, trading, NFT minting, and cross-chain swapping all in one place. GeroWallet is a scalable project, which will grow alongside Cardano to become a one-stop shop for all financial needs.