Cardano ADA News Update 14th Dec 2023
Episode by Peter Bui on December 14th, 2023
The price of ADA is climbing at the moment and with so many projects launching, could it be the reason?
NEWM Launch Studio
NEWM List on Centralised Exchange Bitrue
TangleSwap to Launch
Refer to the TangleSwap Docs to learn more.
Genius Yield Order Book DEX to Launch
Genius Yield Fee Sharing
Mehen Development Update
Read all the details from their Medium post.
Mehen Switching to Chain Raise
Axo Countdown to Launch Begins
FluidTokens Launch Date of Token
Rosen Bridge Expanding
Cardano Scam Updates
Cardano Shield, Open Source Tool for Wallet Safety
Cornucopias Announce Node Sale
View the Node Sale PDF document.
Lace Wallet Update 1.8
Cardano Foundation Updates to Explorer
Cardano Foundation Merch Store
Cherry Lend Add Assets
Yoroi Adds Proof of Onboarding
We’re seeing the price of ADA climb at the moment dramatically. Here for me, the last notification I got was up by 22%. That is absolutely insane for this time of year. And there are many factors that are coming in to play at the moment. But one of them is also the developer ecosystem around Cardano. It has really matured. It is so much easier to build dApps, write smart contracts on Cardano. And this is.
A big update around multiple different projects that are launching right at this moment and over the next couple of months and I’ll take you through a few projects in chronological order so that you know exactly what is happening. Just make sure you hit that thumbs up, subscribe, notification bell so you can be kept up to date with all of these ins and outs and everything that is launching and building on the Kadana ecosystem. All right, first one up. Now NUUM, the music rights royalty platform, I think that’s the title for it.
But they have launched their studio in beta and it’s a closed beta at the moment. So artists can jump onto their platform and start minting their royalties for their music through the Mume Studio. So this is the first launch of their platform. They’re getting it out there for the artists. So the artists will be able to come in, start populating their platform and then the rest of the public will be coming in after that. So this is the first step.
Congratulations, NUME on getting there. I will do a full review of this one really soon as well. So make sure you subscribe to see that video coming up real soon. The other big news update from them is that they got a centralized exchange listing. How cool is that? On the 14th of December here, which is today, this recording, they’ll see the listing here on Bitru. And you’ll be able to buy and sell NUME tokens on there.
So I think they’ve been holding out and waiting out for this one and you know I’ve got hints of this a couple of months ago but you know it would have taken a lot of planning to get to this point but really good to see we’re going to see a lot more liquidity coming into the ecosystem around you so super excited to see how this one goes as well I’ll be watching it closely. Time again 8am UTC on the 14th of December.
So I think that might be really, really soon actually. But check that one out. Super excited to see the team from Neum building and launching all this stuff right now. TangleSwap, this launch is coming right up 14th of December, 4pm UTC. We’ll see the DEX launch on Mainnet and you’ll be able to buy, sell, trade, swap, all that really cool stuff that you expect on the TangleSwap platform. Now this one is a little bit different.
They’re coming over from iota. So they originally started building on the iota ecosystem and now are leveraging what’s available on Kadino to launch their DEX platform too. If you want to find out more about the platform itself, I’ve done plenty of interviews and write ups. Check the links in the top right hand corner there. I’ve got a little playlist around TangleSwap interviews that I did with T-Strong as well so you can learn more about the platform. They have a sale on at the moment for their token.
I won’t go too deep into that. I’ll let you guys do your research and find out a little bit more about that and how to get involved if you’re interested in it. One of the really interesting things that they’re bringing is concentrated liquidity market maker. Now this is to optimize users liquidity that’s provided to the decks. So then when trades happen, they happen more frequently using your assets, which means you get more trading fees within the platform. Really interesting concept. I’ll put a links to it in the show notes that you can find out a little bit more.
and get a better understanding of how CLMM works on their decks and how you guys can take advantage of it. The next one here is Genius Yield and this one will be launching before the 15th of December. You can see here in this post, Lars is talking about the launch will be launched by then and he’s referring to the 15th here where he’ll be doing a webinar with the guys from
So you should join on that one if you want to learn how audible decks work, especially if you’re coming from the EVM space where you’re used to liquidity pool decks is where they works in a completely different way. And with our order book, there isn’t that impermanent loss that you would have with a liquidity pool on an AMM decks. So really interesting concepts and absolutely love what the guys are doing here. It’s not the first audible decks on Cardano. Musely Swap has that title, but
They are bringing in a whole bunch of really cool things that lets the community control the operations around it and makes it completely decentralized. One of the other really cool features that GeniusYielders bring out is the fee sharing. So Ed put out this tweet post that talks a little bit more about it, links in the show notes for you guys, but their fee sharing program collects 20% of the fees and set them aside to distribute to Gen Stakers. So if you’re staking…
your GENZ tokens in general on the platform itself. You can click on earn and stake. You can do that right now actually. Any of the fees that are generated through the trades, that 20% is collected, put aside and then distributed to you later. Now the really interesting thing about this, I had a conversation with Marvin about it a little bit earlier. Like I said, make sure you check out their interview. He said that it doesn’t just distribute the rewards in ADA or GENZ.
which is what you normally assume when you’re earning revenue fees. They actually collect whatever token is being traded on the platform. So it might be a meme coin like SNEC or a HOSCII token and ADA that’s being traded and it’ll collect those fees as well. And then it will be put into your awards dashboard. So you could collect all these different tokens within the Kadana ecosystem. So you’re providing liquidity all over the place and collecting all of those tokens as well.
really cool way of doing it. Love what the Genius Yield team are bringing. Now Mahen were supposed to launch on the 19th of December, but they’ve gone through a couple of iterations and found some interesting opportunities and had to change their scheduled date. So it was the 19th. Technically this would be in chronological order, but because they’re changing their timeline and adding in some new features, I have, I think I have a hint of what they are because…
I’ve had a few questions asked of me from some of the interviews I’ve done, but it won’t be the 19th now and we’ll be waiting a little bit longer for this Fiatback stablecoin coming from Mohen. But one of the really interesting updates that came from the team was their change over of their crowdfunding process. So if you had watched previous videos about Mohen that I’ve put out, they’re running a crowdfunding through Wefunder.
And Refunder is a really cool platform from what I could see. But I found another one, another platform called ChainRays. And this one here is blockchain friendly. It allows them to actually tokenize the equity raised through that process. So now they can actually allow anyone to own equity of the Mohan company itself that is creating the stablecoin for Cardano. So the success of the company will go to the people that help
crowdfund Mahan at this point in time. And I thought that was really cool and using blockchain behind it as well is absolutely awesome. Now, this also opens the doorway to other companies and other entities that are building on Kedano that want to raise and tokenize their equity as well. So Mahan are the first ones to go through it from Kedano and they’re just paving the way and doing all the hard bits first so that anyone else that wants to follow them.
can do so and I believe Mahan most definitely would help other companies that are building a Cardano that are looking for an equity raise through crowdfunding and then tokenizing it afterwards and then releasing it for trading on blockchain. They’ll be able to help you for sure. So check out the blog post. I’ll put a link down below so you can learn a little bit more about the brand new fundraising platform ChainRais that they’re using right now.
You do have to go there to read all the details. It is an official SEC regulated process. So you do have to go to the website to find out more details. Again links down below in the show notes. Now this one is really cool and I predicted the 7th of December for the launch date or at least an announcement of it. I was way off. The official launch date is the 16th. They have a liquidity seeding event on the 9th of January.
are really cool. They’re another order book style decks, but they have an absolutely awesome interface for users that allow you to program your swaps. And this isn’t just setting the price and making a limit order. This is by far some of the most complex programmable swaps that I have ever seen anywhere, even from a centralized exchange. They’re allowing you to do algorithmic trading
and apply some of those algorithms that traders use onto their decks itself. So I, this it’s absolute mind boggling what’s possible. I’ve done a couple of videos around this and exploring some of their strategies and algorithms. Check out the link up above there and you’ll see the playlist for AXO where I go through a couple of the trading strategies and learning how to use the platform and how to build strategies within there and execute them as.
programmable swaps on their platform. So I cannot wait for this one to launch. This is going to change not Kadana DeFi, but all of DeFi and I really really mean that. You do have to check out what AXO can do. Links to the testnet down below for you guys. Just have a play. Be open-minded about this. You may think Kadana, whatever. Check out AXO. It is a major major game changer for DeFi overall. It is absolutely amazing. Now this
Article here goes through their launch phase, their liquidity seeding event and what to expect around it. So I did mention the date there, the 9th of January next year 2024. So check that one out if you’re interested in getting into some of those tokens. It’s one of those events where liquidity be provided in multiple different assets and then that a stabilized price will be discovered. So you’d be able to take liquidity out, put liquidity in and that will dictate the price of AXO on launch.
have a total of 275,000 Axos delivered for the treasury for this process. So do keep that in mind. The interface itself will show you the price so you’ll be able to work out what that price discovery is at the moment before you’re locking your assets for the sale. The other thing you need to know is the official launch like I said is on the 16th of January and the airdrop and withdrawal of anyone that has participated in the ISPO.
You’ll be able to get that 20% of your tokens immediately upon mainnet launch and then the rest of them over the year through that vesting schedule. And hopefully we see a really smooth launch from the team. I do expect a smooth launch. This team is definitely very experienced programmers and know what they’re doing. Now Fluid Token is the next project I want to talk about. They have their launch coming up very soon. So the 12th of January, it will see a whole launch of their token and everything else
They already have a working platform. So they’ve been operating for the last about a year now. And they do borrowing, lending on Cudano using NFTs and other assets as collateral. So they’ve got a really good market already. And now they’re finally launching their token around their ecosystem too. If you’ve been delegating to their stake pool for their ISPO, their initial stake pool offering, that is ending now too. So you only have, I think about two more epochs
get delegating and earning some of these fluid tokens from their ecosystem and being a part of that initial launch. But yeah, there’s not much time left. They also have a little reward NFT that’s coming out. So Kadaana Wolf here asks, is there an NFT as a reward? Yes, there certainly is. An NFT airdrop coming first week of January. So a couple of things to be excited about. I do have the interview with Matteo coming up really soon as well where we talk through all these details about the
token launch and everything else around that. So make sure you hit that subscribe button, hit that notification bell so you get kept up to date as soon as that interview comes out. Should be next week sometime. Now one of the new features that they’re launching with this, let’s have a look here. Let me scroll down. You probably won’t know what it is if you’re not aware, but if you look in the left hand corner here, boosted staking. So this is…
Staking your ADA, so staking ADA you may have noticed that staking rewards have been diminishing over the last couple of years and being able to work their platform to boost your stake of ADA is something really beneficial. We may see a lot of users that are simply in the Katana ecosystem and staking their ADA move over to platforms like this to boost their staking rewards. How does it work? I’m not entirely sure.
But check out that interview, we’ll go into it so we can learn a little bit more about how all those aspects work. They have done an audit around this as well, so it’s not some code that they just put together. It’s being audited and they’re making sure it’s fully secure before they’re launching on Maynet. You can see from this comment here, so boosted stake which allows secure trustless way to earn a guaranteed 5 to 10% which is twice, twice bigger than regular staking APY.
on your ADA this month. So really, really excited to learn more about that and how it all works. There will be a lot of people looking at opportunities like this to boost their staking rewards. The other thing here to watch is Rosen Bridge. There are a lot of people jumping on board and becoming watchers for the platform. So for those that don’t know in my last news update, I did talk about this, but Rosen is the bridge between Cardano and Ergo. So they’re making assets.
interoperability and cross-chain swaps possible between those two blockchains but they’ll be expanding to all these other chains as well and their bridge platform is growing pretty fast. People want this to happen. We can see at the moment the Ergo watches is at 54, Kadana is at 31 and they have a limit of how many will become watches on either of those two networks and there’s also amount of collateral that is needed to become a watcher as well.
So we’re seeing the TVL just for the bridge watches increase for the ecosystem. So super exciting to see that one grow and super excited to see cross-chain interoperability between two very favorable chains. So make sure you keep an eye out for that one. The people are signing up to be watches right now. So the bridge is going to go live pretty, pretty soon. Now I have to cover this one because I did talk about this scam, these scams appearing on Cardano. And these are.
like giveaway scams, they try and entice you to connect your wallet and then interact with it and give away your assets. So this, those types of scams have been around for ages, but we’re seeing more of it appear on Kadana at the moment, probably because it’s so much easier to develop on Kadana and these scammers are just going, bam, build a website, create a wallet connector, write the transactions and there you go. And it’s sad to see, but Rahul here did a bit of a breakdown so we could actually see
what assets were leaving users wallets and where it’s going and we can see now it’s being staked to this particular pool here so they managed to get away with 162,000 ADA at the moment. For me that’s that’s quite a bit of money that’s a the price of ADA here in Australia at the moment is one dollar so that’s 162,000 Australian dollars at the moment that this person got away with. But there are some interesting tools coming into play.
And some of these have been around for a little while, but are becoming more prominent because of these scams. And we’re going to block them. They’re going to be found out. Now this thing here is called Kadana Shield. And the guys from Jara Wallet are building this to protect users from these things. It’s an open source wallet extension to protect users from these type of scams. The guys from Jara are working with AdaBox I.O.
to create this shield for Cardano wallets. So now they’re scanning activity, they’re using AI machine learning to try and detect these types of scams so that they can have that early intervention and help protect the Cardano ecosystem from these type of giveaway scams. We should see more updates from the team in 2024. So I’m looking forward to seeing this type of product, Cardano Shield integrated into all the Cardano wallets out there and I know there’s other platforms and other security methods that are launching as well.
And the more we see the better and more secure users will be in the ecosystem. How cool would it be if you could see that if you’re interacting with something on Cardano and it detects that the address that you’re sending to is potentially a scammer, it will alert you and you will let you know not to send this or at least think twice before you do. That’s important thing. At least it alerts you, puts a big red flashing lights in front of you saying, stop.
This is a known scammer, don’t do it, don’t do it, don’t do it. At least have that suggestion. So really cool, love what the guys are doing here, Cardano Shield, I’m glad you got funded in Fund 10. This is something that Cardano community most definitely needs. Now this is an additional post from the Security Bot. This is a fantastic Security Bot that a lot of Discord servers use. And they’ve got some tips here. I thought I’d just highlight this as a public service announcement. So here we go, tips to keep yourself safe.
Only trust official channels of communication, not random token airdrops. So a lot of these scams they had the token airdrop into your wallet and people read that token went, oh, there’s an airdrop happening. Let’s go get that particular airdrop, connect your wallet and bam, sign the transaction you lose your asset. So follow the official channels, not these random airdrops tokens that appear in your wallet.
Always check the inputs and outputs of your transactions. And that’s a lot easier in Cardano because in the EVM space, when you connect your wallet, you normally connect like your Metamask wallet. And then bam, your assets are gone. On Cardano, you still need to sign the transaction. So you need to go through those steps. And you can check every single transaction, every input, every output that’s going in and out of your wallet into that transaction so that you know exactly what’s happening. So check that, read over it, and make sure.
what you intend to happen is happening. Last thing there, if anything ever feels a little off, stop and ask someone you trust. And most likely if it does sound too good to be true, it probably is. Don’t trust it. Go with your gut instinct. Don’t go into that FOMO feeling and fear of missing out and then just going through the transaction. Don’t ever do transactions when you’re drunk. That’s probably some really good advice.
This one here is from Cornucopius and this is pretty exciting. So the whole web 3 gaming thing, you play to earn, you buy NFTs, etc. That’s the general way the whole gaming, game fire ecosystems work. But what about the servers? What about the whole decentralization of the backend of the game? This is what they’re doing right now. This is majorly cool. I haven’t seen any other game fire thing out there do this.
are putting up their nodes for public to be able to run them and be a part of their ecosystem. So you’d be able to help decentralize their node servers, do the transactions, everything else around it. So really, really cool. You do earn a copy rewards from this as well. So if you’re not much of a gamer, but you are a technical person and can run these nodes, you can help.
decentralize that ecosystem, run a node and have all these gamers use those resources so that you can earn some of the fees and transactions and rewards from that particular process. I’ll put a link to this PDF file here so you can go through the whole deck and get a better understanding of it as well. I’ll be going through this one. I’m pretty excited about Cornucopius in general. I haven’t been able to play the game. I will try to. I have to buy one of the really expensive NFTs at the moment to get my foot in the door.
maybe I’ll just wait a little bit longer until they open it up a little bit. I can’t quite afford some of these NFTs, but it’s really exciting to see this node thing come out and there’s some sell details around how much it will cost to buy one of these nodes or buy the rights to run a node. And I’m pretty sure there’ll be a lot of people speculating and simply buying these up so that they can trade them on the ecosystem before some of these operators get their hands on them.
Check that one out, cornucopious, love what you guys are doing. Lace wallet is probably one of the nicest and simple wallets out there and they are putting some new things into their graphical interface for staking rewards. I had a quick look at this one, I thought I’d mention it because I know a lot of my viewers do use lace wallet and this is what the rewards look like at the moment. So I’m doing a multi pool delegation for these particular pools here. Let me just go back so you can see who I’m delegating to.
So these are five state pools that were a part of the Kedinopress Wapoo launch. So we’ve got 46, Graham, Norn+, State Pool, Aussie Pool, and B Ada. And in delegating to those five pools, you can now see the activity here and the rewards coming from each of those pools. So you can see the performance of the multi-pool delegation. And I think this is really cool. I didn’t delegate a massive amount on this particular wallet because I use it for video demonstrations like this, but you can see
the reward distribution from each one of those pools and how they’re all performing. So really cool, love seeing the type of improvements from the Lace team and looking forward to a lot more. If you have any comments for them, please join their Discord server. They are open to comments and criticism and improvements. So they’re building this wallet for the community. So jump in there and be a part of the community and help build out Lace wallets, pretty nice little wallet.
Now we can’t have a news update without some news from the Kidana Foundation and this one here is updates to the Explorer. They’ve gone through multiple iterations and they’ve put in more features into the Explorer itself to make it more useful for people out there. So they’ve got a more intuitive view of transaction summaries to make it easier to read those UTXO transactions, staking lifecycle, display of transaction signatories including Genesis
new metadata checker, dark mode and much, much more. It is becoming quite a nice explorer. My explorer of choice is still Kadana scan at the moment, but this is coming in. It’s looking OK. And of course, with the digital dark mode, it makes it appealing for some of these late night traders and operators such as myself. So congratulations on that type of work. So really good to see the Kadana Foundation continuously working on this type of stuff.
The other thing the team launched is an official merch store. So you can get official merch now you can see the cap here but also swimming trunks I thought they look pretty cool. I got some from where from the wear store and I posted a tweet about it I’ll put a link down below for you but you got options now so you got options in terms of what you’re going to wear for summer and it’s summer here in Australia so maybe I need to get another pair of shorts. Why not more Kidano merch.
have a lot and I have a very upset partner that says all I wear is boxing t-shirts and Kadana merch. Yeah live with it, deal with it. Yeah anyway links down below for you guys so you can check out the Kadana merch if you’re interested in any of this stuff. Another update from Cherry Lent here we are also seeing more assets being supported for borrowing and lending on the platform so we’ve got Tether, USDC, Ethereum and Bitcoin now too.
Thanks to Onechain for bringing in those assets to their platform. Now my last news update here and I thought this was really, really interesting and this one’s already out as well and this is proof of onboarding or Poo for Yoroi. Yeah, that didn’t quite sound right, did it? But this is the idea of SIP99, Kadana Improvement Prozol 99, where it made it really easy for a user to be onboarded into the ecosystem. So
when you’re going to in real life events and you’re trying to send them some assets, there are different ways of doing it. So you can create a paper wallet, load up some ADA into that wallet and then put the assets in there. So it’s a bit of a process, but then you can print out that paper wallet and give it to the user and they can install it and then transfer the assets to their own wallet that they create later. But this proof of onboarding concept makes that a lot easier.
And they bring in the idea of being able to scan a QR code and interact with a faucet to actually deliver those assets to the user itself. I actually went through this Cardano Improvement Poser to try and get a better understanding of it. And what they do is they use the idea of URIs. So they had a SIP 13, the Cardano URI scheme, and they’re, they’re leveraging that to now do claim faucets. So now a wallet, when they scan a QR code, they’ll interact with that claim faucet.
and then you’d be able to get the assets from it. So just like when you go to a Fawcett on Testnet, you put in the address that you want the assets to go to, you press claim, and then you get those tokens filled up in your Testnet wallet. This is the same idea and concept. You scan a QR code at a particular event using your Roy wallet, using that scanner, and then you’d be able to claim those assets directly from that Fawcett. Really cool, really simple way of doing it. With the Fawcett, you can get statistics, you can see what wallets interacted with it.
how many people have had those assets distributed to them. So there’s lots of benefits of doing it this way. Hence the idea and concept of proof of onboarding. You can actually see those stats and how many people were onboarded at those real life events from a particular QR code. Super excited to see that Yoroi is still developing and still building. There’s a lot of users back in the last bull run and still have it on their phone. I know I’m one user that still has Yoroi on their mobile.
And now when they’re opening it up, they’re going to see all these brand new features in their wallet, all ready to go for the next bull run. And that is it for me for another Cardano news update and some really cool protocols that have launched or are launching on Cardano right now. It’s no surprise that the price of 80 is jumping at the moment the way it is, the whole ecosystem is increasing, but you noticeably, you can see the Cardano price rising a lot higher than some of these other ones. And I…
really do believe it’s because that developing a Cardano is so much easier now. We’re having so much of these daps launching at the moment and we’re going to see a really, really cool bull run I think for the Cardano ecosystem. Can’t wait for it. And if you want to be kept up to date with all of these news updates and everything that’s happening in Cardano, thumbs up, subscribe, notification bell.
and I’ll see you in the next video.