More than 200 smart contracts accept been listed on the Cardano blockchain explorer post-obit the Alonzo upgrade on Monday — but there's a catch.

As of now, the 200 smart contracts listed are in timelock and cannot be used by developers until they're released.

The Vercel App currently puts the number of smart contracts readying to be launched at more than two,200.

Smart contracts have been a long-anticipated characteristic on Cardano since its launch in 2022, and the functionality was finally enabled with the recent Alonzo difficult fork.

Charles Hoskinson, founder of Cardano and IOHK, said on Friday that the decentralized finance (DeFi) space is "up for grabs" now that Cardano supports smart contracts.

Hoskinson said that the winners of what he called the "2nd wave" of DeFi were going to have liquidity and interoperability, the ability to motility multi-chain and price predictability. "We need governance, we need certification, nosotros demand insurance, we demand regulation on these things, metadata identity… at the same time, you demand to decentralize," he said, adding:

"The style we synthetic Cardano was for that second wave."

At that place are several notable projects that take smart contracts in timelock or are planning on launching soon, such as GREED, a rewards token redistributing Cardano's ADA back to holders; Liqwid, an open-source and not-custodial liquidity protocol for interest charge per unit curves; SingularityNET, a platform that lets anyone create, share and monetize bogus intelligence services at scale; and Cardax, the showtime decentralized exchange on Cardano.

Related: Sell the news? ADA price drops 10% following Cardano'due south long-awaited smart contracts rollout

Cardano volition be Ethereum Virtual Machine-backwards-uniform and is hoping to attract DeFi developers who wish to salve money on transaction fees.

ADA's price saw a huge 170% price run-upwards since mid-July, but information technology's currently about xx% downwardly from its best high of $3.09 at the start of the calendar month. ADA is currently trading around $2.42.