Cardano ($ADA) Founder Explains Why ‘We Ain’t Seen Nothing Yet on TVL’

On Saturday (March 12), Charles Hoskinson, who is Co-Founder and CEO of IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano’s research and development, talked about TVL in Cardano-powered DeFi protocols.

Hoskinson’s comments came in response to an $ADA HODler’s tweet about the rapid growth in Cardano’s Total Value Locked (TVL), i.e. the aggregate amount of funds locked into its DeFi protocols.

The IOG CEO said that there are many Cardano DeFi apps that are waiting for Vasil hard fork combinator (HFC) event, which is expected to take place in June, and once that happens, we should see an even more impressive growth in Cardano’s TVL.

On 10 December 2021, Hoskinson explained that he was going to honour his Bulgarian friend and Cardano ambassador Vasil Dabov — who had died recently — by naming the June hard fork after him. Dabov was a blockchain consultant, Haskell practioneer, and experienced ginkgologist.

In a blog post published on February 28, IOG explained what changes we could expect to see in the June and October hard fork events:

“Our February release is just the start. Throughout 2022 – and focused around June and October hard fork combinator (HFC) events – we will introduce an array of scaling enhancements. These include key elements of our scaling plan like pipelining, new Plutus CIPs, UTXO on-disk storage and Hydra. In combination with parameter adjustments, these features will enhance Cardano’s throughput and optimize the system to accommodate an increasing range of decentralized finance (DeFi) apps, smart contracts, and DEXs.

“Plus as outlined in our recent Cardano360 February show, IOG is working across a host of new products and features, from a DApp store and a new light wallet product, to Mithril fast sync solution and sidechains. All the while an incredible community contributes new DApps, services, sites, tools and APIs to keep building out a flourishing decentralized ecosystem.“

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