Charles Hoskinson, the CEO of IOG and creator of Cardano, has recently noted that ADA’s Total Value Locked (TVL) would have been worth billions of dollars if holders’ staked tokens were counted.
According to Hoskinson in a recent tweet, if all the staked ADA were counted, Cardano’s TVL would have surpassed $19 billion. Stressing on why they are not counted, the mathematician pointed out that it’s not mandatory for users to lock their tokens before staking them.
Charles Hoskinson tweeted, “Fun Fact, if you counted the staked Ada, cardano’s TVL would be over 19 billion dollars. Why don’t we count it? Because you don’t need to lock your Ada to stake it.”
Fun Fact, if you counted the staked Ada, cardano's TVL would be over 19 billion dollars. Why don't we count it? Because you don't need to lock your Ada to stake it.
— Charles Hoskinson (@IOHK_Charles) May 6, 2022
Cardano’s TVL Still hovering around $200 Million
Despite the launch of Alonzo in September 2021, which activated smart contracts functionality on Cardano, and the positive results that followed, the total value locked is still far from hitting $1 billion.
The launch of the Cardano-based decentralized exchange (DEX) SundaeSwap brought lots of positivity in terms of the number of locked ADA. After the launch, Cardano TVL surged from $0 to over $200 million in less than four months.
Read Also: Cloud Computing Platform iagon Officially Announces Migration to Cardano from Ethereum Network
Moreover, on the 24th of April, Cardano TVL surged to its all-time high of $326 million, according to DeFi Llama. Howbeit, the value locked later experienced a notable drop after the price of ADA dipped below $1, the price level it has maintained for the most part of the year.
At the time of press, Cardano’s TVL is standing at $202.87 million. The data shows that the value has dropped by 9.13% over the last 24 hours.
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