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Minswap Hits Milestone as Cardano’s Most Used DEX, Eyes Bitcoin Integration Next

Minswap, a community-launched decentralized alternate constructed on Cardano, has grown into the community’s dominant DeFi protocol. With no VC backing, no presale, and a good token distribution mannequin, Minswap now processes the vast majority of Cardano’s every day DEX exercise and continues to broaden its position throughout the community.

No Private Capital, Full Community Control

Launched in 2021 with out institutional funding, Minswap launched its native MIN token by means of a Fair Initial Stake Offering (FISO), distributing possession to the Cardano group. Since then, the protocol has scaled by means of public improvement and governance, giving MIN holders full voting rights over protocol parameters, upgrades, and treasury technique.

In recognition of its sustained efficiency and group focus, Minswap has been named Cardano’s high DeFi mission three times.

Major Protocol Upgrades Deliver 10× Throughput

In 2024, Minswap rebuilt its core contracts utilizing Plutus V2 and the Aiken improvement framework. This improve elevated throughput by 10×, enabling as much as 36 swaps per block (beforehand capped at 3) and considerably decreasing transaction prices and congestion.

The alternate additionally launched sensible order routing, restrict/stop-loss orders, and one-click liquidity instruments. Shortly after, Minswap launched its stableswap swimming pools, optimized for pegged-asset buying and selling, which deal with over 90% of all stablecoin quantity on Cardano. A focused 30,000 ADA incentive program quadrupled utilization inside weeks. These swimming pools at the moment course of 8 to 13 swaps per block.

Minswap additionally expanded its providing with the launch of Launch Bowl, a fixed-price, pro-rata token launch platform. The instrument helps new initiatives in elevating capital straight on-chain and has turn out to be a core a part of Minswap’s broader product suite.

DeFi Market Share and Treasury Growth

To date, Minswap has processed greater than $7 billion throughout 5.9 million trades, and continues to handle over 70% of every day DEX quantity on Cardano. Its present TVL is approaching $54 million, representing a big portion of the community’s DeFi exercise.

Support for native stablecoins, together with DJED, iUSD, and USDA, has helped deepen liquidity. Yield farming and staking incentives hold capital locked, with over 599 million MIN at the moment staked.

Behind the scenes, Minswap’s DAO treasury has grown to over $13.53 million, together with protocol-owned liquidity positions used to stabilize core buying and selling pairs and cut back publicity to mercenary capital.

Governance in Practice

Governance on Minswap is energetic and impactful. In April 2025, the group handed MIP-01 with 98% support, formalizing a DAO LLC within the Marshall Islands. This offered a compliant framework for treasury and contract administration.

Since then, MIN holders have voted to scale back token emissions, type a treasury working group, and approve liquidity administration proposals. Recent governance initiatives embrace a tokenomics overhaul by AQube and a diversification strategy launched by contributor Big Blymp. Turnout stays sturdy, with most votes involving tons of of thousands and thousands of MIN.

Strategic Integrations and Ecosystem Role

Minswap performs a key position within the Cardano stack by means of a number of integrations:

  • Cardano Spot: Partnered in 2023 to launch a stablecoin training initiative.
  • Atrium Labs: Working to convey social options, staking instruments, and built-in buying and selling right into a unified dashboard expertise.
  • SingularityNET: Collaborating on AI-driven buying and selling instruments, liquidity evaluation, and governance enhancements. Minswap at the moment hosts the vast majority of AGIX liquidity on Cardano and helps snapshotting for DAO votes.

These collaborations reinforce Minswap’s place as a liquidity and buying and selling spine for Cardano-based purposes.

Bitcoin Integration on the Horizon

Cardano’s upcoming Cardinal Protocol, announced in June 2025, will convey native Bitcoin into its DeFi stack with out wrapping or centralized custody. Minswap is predicted to be the primary DEX to assist BTC-ADA and associated pairs.

With near $54 million in TVL and a number one share of buying and selling quantity, Minswap is positioned to route the preliminary wave of Bitcoin liquidity. Projections suggest BTC assist might improve Cardano’s total DeFi TVL by up to 50%, with Minswap serving as the default gateway.

A Stable Presence in a Growing Network

Minswap has by no means relied on hype cycles or aggressive token launches. Its development has been regular, governance-led, and rooted in consumer participation. As Cardano expands into Bitcoin, cross-chain performance, and on-chain governance underneath Voltaire, Minswap stays deeply tied to how the ecosystem features.

For now, the protocol continues to function quietly on the middle of Cardano DeFi, which is secure, energetic, and community-owned.

The publish Minswap Hits Milestone as Cardano’s Most Used DEX, Eyes Bitcoin Integration Next appeared first on BeInCrypto.

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