Cardano的分散金融（DEFI）生態系統迅速發展

Cardano的分散金融（DEFI）生態系統已經到2025年迅速發展，從慢速起動器轉變為強大的網絡

Cardano’s decentralized finance (DeFi) ecosystem has evolved rapidly, transforming from a slow starter into a robust network of exchanges, lending platforms, and stablecoins.

Cardano的分散金融（DEFI）生態系統已經迅速發展，從慢速起動器轉變為強大的交流網絡，貸款平台和Stablecoins。

Since the Alonzo upgrade enabled smart contracts, Cardano DeFi has witnessed surging activity – average daily DEX trading volumes jumped 271% quarter-over-quarter to roughly $8.9 million in late 2024, reflecting a dramatic rise in user participation.

由於Alonzo升級啟用了智能合約，Cardano Defi就目睹了活動的激增 - 平均每日DEX交易量躍升了271％的四分之一季度，至2024年末的890萬美元，這反映了用戶參與的急劇上升。

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This development stands in stark contrast to the bleakest predictions from earlier in 2023, when some analysts anticipated that ADA’s price would plummet to $0.20 by Q4 2023 due to a lack of DeFi activity.

這一發展與2023年前早些時候最黯淡的預測形成了鮮明的對比，當時一些分析師預計，由於缺乏Defi活動，ADA的價格將在第4季度2023年下降到0.20美元。

Instead, by the final quarter of 2024, ADA’s price had actually increased from $0.30 to $0.80, potentially in response to the booming DeFi ecosystem. This positivity stands in stark contrast to the bleakest predictions from earlier in 2023, when some analysts anticipated that ADA’s price would plummet to $0.20 by Q4 2023 due to a lack of DeFi activity.

取而代之的是，到2024年的最後一個季度，ADA的價格實際上已從0.30美元上漲到0.80美元，這可能是對蓬勃發展的Defi生態系統的響應。這種積極性與2023年前早些時候最黯淡的預測形成鮮明對比，當時一些分析師預計，由於缺乏Defi活動，ADA的價格將在第4季度2023年$ 0.20。

This positivity stands in stark contrast to the bleakest predictions from earlier in 2023, when some analysts anticipated that ADA’s price would plummet to $0.20 by Q4 2024 due to a lack of DeFi activity.

這種積極性與2023年前早些時候最黯淡的預測形成鮮明對比，當時一些分析師預計，由於缺乏Defi活動，ADA的價格將在第4季度2024年$ 0.20。

As of 2025, several key decentralized exchanges (DEXs) facilitate most on-chain trading of Cardano native tokens. These top DEX platforms are:

截至2025年，幾項關鍵的分散交易所（DEX）促進了大多數Cardano本地令牌的鏈貿易。這些頂級DEX平台是：

These top DEX platforms – selected for their trading volume, liquidity, user experience, security, and impact – form the backbone of Cardano’s DeFi and collectively foster a vibrant ecosystem. In this article, we review the top 3 Cardano DEXs in 2025 and explore emerging trends shaping Cardano’s DeFi future.

這些頂級DEX平台（用於其交易量，流動性，用戶體驗，安全性和影響力）構成了Cardano Defi的骨幹，並統稱促進了充滿活力的生態系統。在本文中，我們回顧了2025年的前三名Cardano Dexs，並探索了塑造Cardano Defi Future的新興趨勢。

The Cardano blockchain now hosts a variety of DEXs leveraging its eUTxO model and Plutus and Aiken smart contracts. Here are the three leading Cardano DEX platforms in 2025 and what makes each stand out:

現在，Cardano區塊鏈擁有各種DEX，利用其EUTXO型號和Plutus和Aiken智能合約。這是2025年的三個領先的Cardano Dex平台，是什麼使每個平台脫穎而出：

1. Minswap – Community-centric liquidity powerhouse

1。Minswap - 以社區為中心的流動性發電站

Minswap has established itself as the largest decentralized exchange on Cardano by trading volume and liquidity.

Minswap通過交易量和流動性確立了自己在Cardano上最大的分散交易所。

Launched in 2022 as a multi-pool automated market maker (AMM), Minswap quickly gained popularity for its low fees, yield farming incentives, and community-first approach. The platform was built without venture capital, doing a fair token distribution, which endeared it to ADA enthusiasts.

Minswap於2022年以多池自動化做市商（AMM）的身份推出，以低收入，產量耕作激勵措施和社區優先的方法而迅速獲得了知名度。該平台是在沒有風險投資的情況下建造的，進行了公平的代幣發行，這對ADA愛好者來說是一個吸引人的。

It offers multiple liquidity pool types (constant-product pools and stablecoin pools) to optimize trading for different asset pairs, and it introduced features like yield farming and staking of its MIN token for governance.

它提供了多種流動性池類型（恆定產品池和Stablecoin池），以優化用於不同資產對的交易，並引入了諸如產量耕作和占用量的特徵，以進行治理。

As a result of these innovations and reliable performance, Minswap leads the way in Cardano’s DeFi space, offering swaps, liquidity pools, yield farming, and governance with unique optimizations. By 2025, it dominates Cardano DEX activity—Minswap consistently handles the majority of Cardano’s DEX transactions—providing deep liquidity for ADA and dozens of native tokens. Its intuitive interface and integration with popular Cardano wallets make it the go-to venue for trading, cementing Minswap’s role as the liquidity hub of Cardano DeFi.

由於這些創新和可靠的表現，Minswap在Cardano的Defi空間中引領了道路，提供了掉期，流動性池，產生耕作和治理，並具有獨特的優化。到2025年，它在Cardano Dex活動中占主導地位（Minswap）始終處理大多數Cardano Dex交易 - 為ADA和數十個天然令牌提供了深厚的流動性。它的直觀界面和與受歡迎的Cardano錢包的集成使其成為交易的首選場所，鞏固了Minswap作為Cardano Defi的流動性中心的作用。

One standout feature of Minswap is its playful aesthetic, which incorporates a cat and purr theme. This playful design choice has resonated with users not only within the Cardano community but also across other blockchain ecosystems. The engaging design contributes to a user-friendly experience, making DeFi interactions more approachable and enjoyable.

Minswap的一個傑出特徵是它的嬉戲美學，其中包含了貓和purr主題。這種有趣的設計選擇不僅引起了Cardano社區中的用戶的共鳴，而且在其他區塊鏈生態系統中也引起了人們的共鳴。引人入勝的設計有助於用戶友好的體驗，從而使Defi互動更加平易近人和愉悅。

Additionally, Minswap offers staking rewards derived from trading fees. Users can stake their MIN tokens through flexible or fixed-term contracts, earning ADA rewards sourced directly from the platform's trading activities. This mechanism aligns with Minswap's community-centric approach, ensuring that active participants are rewarded proportionally to their involvement.

此外，Minswap提供了從交易費用獲得的積分獎勵。用戶可以通過靈活的或定期的合同來利用他們的最小令牌，從而直接從平台的交易活動中獲得ADA獎勵。這種機制與Minswap以社區為中心的方法保持一致，從而確保積極參與者的參與成比例地獎勵。

2. SundaeSwap – Pioneering DEX continually improving scalability

2。sundaeswap - 開創性的DEX不斷提高可伸縮性

One of the most famous names in Cardano DeFi, SundaeSwap is a core venue for ADA holders, known for its flavorful branding and as a symbol of Cardano’s DeFi maturation.

Sundaeswap是Cardano Defi中最著名的名字之一，是ADA持有人的核心場所，以其美味的品牌聞名，並且是Cardano Defi成熟的象徵。

The first heavily-publicized DEX on Cardano, it was launched in early 2022 amid enormous community excitement and an Initial Stake Pool Offering for its SUNDAE token. Bringing the AMM model, popularized on Ethereum, to Cardano, it quickly drew attention. Many assumed SundaeSwap to be Cardano’s first DEX, though it was actually preceded by MuesliSwap’s quieter debut.

它是Cardano上首個廣為廣泛的DEX，它於2022年初推出，這是由於社區興奮的巨大興奮，並為其聖代代幣提供了最初的利益池。將AMM模型帶到以太坊中，迅速引起了人們的注意。許多人認為Sundaeswap是Cardano的第一個DEX，儘管實際上是Muesliswap安靜的處女作之前。

Despite initial network congestion and “concurrency” challenges (transactions had to queue via a batching system), SundaeSwap proved Cardano’s smart contracts could support real DeFi activity. Over time, the SundaeSwap team has iterated on the protocol to address those early limitations.

儘管最初的網絡擁堵和“並發”挑戰（交易必須通過批處理系統排隊），但Sundaeswap證明Cardano的智能合約可以支持真正的Defi活動。隨著時間的流逝，Sundaeswap團隊已經迭代了解決這些早期限制的協議。

Notably, in

值得注意的是