Cardano DeFi Summer Heats Up: Strike, Flow, and $100M Wealth Fund

00:35 Strike Finance
03:38 Flow
04:32 Flow Token Sale
07:47 Cardano Wealth Fund
18:27 Snek.Fun
19:59 Snek Figures
20:56 CardanoPress Wapuu Pins

00:00
Cardano DeFi is alive and thriving. This is really exciting stuff. We have Flow with their token sale at the moment and they’ve managed to raise over 5 million. We also have Strike Finance opening up user deposits for liquidity. This brings in a lot more liquidity to the platform. It’s doing phenomenally well at the moment. We’re going to go into the details around that and a whole lot more news in the Cardano ecosystem. Let’s get to it.

00:25
Hey everyone, I’m Peter. If you enjoy Cardano related news and updates, make sure you hit that thumbs up, like, subscribe, notification bell. I’ll keep you up to date with everything that’s happening in space. Let’s get into this first news story here. So the first news item here is RoundStrike Finance, finally enabling user liquidity onto the platform. So this was coming for a couple of weeks. So I’m assuming they had to iron out a couple of bugs and streamline the user experience here to make it really easy for users to do.

00:52
And we can see on DeFi Llama some of the details that are coming through. Now there was a little bit of inaccurate data coming through to DeFi Llama. So I don’t know if that has been fixed yet, but the green chart, part of the chart here shows you the amount of TVL that’s going through the platform. This is in USD. So I might switch that over to ADA. So you can see how much ADA is actually going into the platform. And we also have the perps volume.

01:20
that’s going through the platform too. So you can see here it’s been a really good path of growth over the last month or so as the platform’s being adopted and more users are coming onto the platform itself. Now you can see on the Stripe Finance DAP that under liquidity now you can put in, connect your wallet and put in the amount of liquidity you want to deposit within the platform.

01:46
Now this opens up the ability for other people to use that liquidity within the perpetual side of things. And here you can also see the max position size has grown quite substantially to 50,000 for one position and the amount of liquidity on the platform is a lot higher now too. So there was a lot of complaints that there wasn’t enough liquidity and the max position sizes were very small. When I was first using this, I think the max position size was 300.

02:16
USD. So very, very small compared to what it is now. And as more and more liquidity comes into the platform, these position sizes and the limits will be increased as well. So it will allow users to come in and put in large longs and large shorts onto the platform. But of course, that’s going to open up a lot more risk as well. And that’s a good thing for the liquidity providers and the stake, the token, the strike finance stakers as well, because they

02:45
get all of the liquidity fees are through the platform. this is really interesting and it’s been a fun platform to play around with. So I really like what the Strike Finance team have done and you know, big congratulations for getting this part of the user experience and liquidity provisioning open to the public. Now, if you want to learn how to use a platform, I’ve got a course here all about Strike Finance. You can

03:12
Get to it at the learnCardano.io website. It’s all free. It’s just a bit of information here really to educate yourselves on how perpetuals and futures work. I will now have to update it with the liquidity provisioning and how that works and I’ll talk about the risks and rewards from using the platform as well. So you can get to it. Put links down below for you guys. But awesome work from the Stripe Finance team. It’s been awesome watching your journey of the last month.

03:39
Now another project that we are keeping our eyes on is Flow. So Flow is a borrowing lending protocol that has no end date. That is perpetual loans. So very similar to the idea of strike finance where you can go along and create a long or a short and have no time limit on that. Now perpetual loans are really appealing because it doesn’t have that time limit. Now they’re going through a token sale at the moment. I’ll go through the details in one sec.

04:05
but they’ve already raised 5 million ADA in one day. So there is a massive amount of demand in the Cardano community for good and exciting DeFi protocols. Ones that make sense, ones that are easy to use, and it looks like Flow has captured the market here with what they’re doing. So this is really exciting. So definitely Cardano DeFi summer heating up indeed. Now, if you want to have a look at the Flow token sale,

04:36
There are some details here. I’ll put links down below. We’ve got 32 hours left to go. It’s a pro rata sale as well. So that is everyone can participate in at the moment. So the more and more ADA that comes in, there’s going to be a certain percentage that is refunded back. So if I put in 100 ADA, 6.03 of that would be refunded back. And the average token sale price at the moment is 0.276.

05:02
So can see how much ADA has come through the platform at the moment and where they’re at. So very exciting stuff. Now, if we go down a little bit further here, we can see how to actually contribute. You can simply connect your wallet, whatever it might be, enter the amount of ADA that you want to deposit or contribute within this token sale. It will write the transaction for you and then it will send it to the sale wallet. There are some more details for a manual transfer as well. You can send it directly to this wallet address.

05:30
or scan the QR code if you’re using mobile app and send the ADA that way. So fairly easy to participate in this particular cell. There’s no KYC or anything like that. This is a fully decentralized token cell. Now there are some more details and basically a cheat sheet that goes through the details of this one here. So let me just go through this for anyone that is interested. And I’d just like to remind people that this isn’t an endorsement of the project. I’m not affiliated with it in any way.

05:59
I just think it’s another really cool DeFi protocol that’s opening up and if you’re interested, do your own research behind this one. So this is what the token allocation looks like here. Let me zoom in so you guys can get a better look see at this. The public sale here at 68%, the team advisors 15 % liquidity for the platform, 12 % and the Dow 5 % there. So it seems like good token distribution, especially with the amount that is going to the public.

06:28
Okay, we can see the token sale details here. 25 million total supply, max price of 0.276, 17 million allocated for this particular sale. That is the public allocation there. Max market cap, 5.5 million ADA, max raise 4.7 ADA. Token utility, staking within the platform, governance, that’s pretty common thing. Collateral, use flow as collateral and have access to a high liquidity buffer.

06:57
and also pool creation. to create a new pool lending market by paying a one-time fee in flow tokens. So if you want to use the platform, it’s definitely a token that you will need to use to be able to unlock some of these things. Key features, like I mentioned a little bit earlier, lending pools, no maturity dates. That’s the perpetual side of things. World class desktop mobile support. We will see what that all looks like. I haven’t seen the platform in action just yet myself and add collateral

07:27
two positions. Cool, very good. So if you want to find out more about Flow, I will put links to all of this down below in the show notes. Like I said, this is an endorsement of the project. I’m just doing my own research at the moment as well. So I highly encourage that you do your own research and find out a little bit more about the team, the project and everything that I have to offer. Now on a broader, bigger ecosystem side of things, this has been a bit of a debate since last week. I was away last week. I’ve got a lot of

07:56
day job side of things. I was at a conference on the weekend as well. But there was a lot of talk about a hundred million dollars worth of assets from the Cardano treasury being used to mint stable coins and build up a reserve, a sovereign wealth fund reserve in other assets in stables, Bitcoin. And I think that was it. And the community is a little bit split about this. And I think

08:26
A lot of people are pretty excited about it because it would inject a huge amount of liquidity into Cardano’s DeFi ecosystem and get things moving. I for one and all for it, but I do want to see a distribution of that liquidity across multiple different stable coins. Cardano has quite a few really good ones at the moment with good backing. We’ve got USDM, we have USDA.

08:55
We have the synthetic such as IUSD and also the over cloud rise algorithmic, GED, which has been around for a long time and has always maintained its peg. So we’ve got a lot of options here to use and I want to see a good distribution around that. Now I don’t know what a good distribution is, but it is definitely something that we need to move forward. Now Linda here writes, this is what I believe Cardano needs. If we don’t act, we don’t move forward.

09:24
I really kind of agree with that, but let’s get the details for this right now. I don’t know what the details are, but we will find out at Rare Evo coming up this month. Or is it next month? Not sure when the date exactly is, but it’s coming up very soon. And I’ve seen a lot of tweets about Rare Evo coming up as well. So really excited about that event. Unfortunately, I won’t be attending. It’s a little bit hard to get to the United States these days, but we’ll see what this proposal has. Now there was another proposal from

09:54
Elder millennial that was submitted to the Cardano treasury withdrawal process, but it had invalid metadata. So it didn’t appear correctly. But I do believe that proposal would have a lot more support now because of the talk about this. Now that was a very similar proposal, but it was to use a hundred million ADA, not a hundred million USD worth of ADA, just a hundred million ADA to mint into the various stable coins.

10:24
but then also mint at various periods throughout a year so that there isn’t that massive cell pressure of ADA into staples. So it’s a nice and interesting way of going about it to try and drive up that liquidity into the ecosystem. This here, what Charles has been talking about, I think it might be more of a big injection, very fast injection into the ecosystem. I think there will be a lot of cell pressure, 100 million into selling ADA in one go or in multiple goes.

10:53
multiple lots would definitely cause some cell pressure. don’t know how much cell pressure will actually move the needle. I know there’s a lot of ADA being moved on a daily basis. So don’t know if it will have a massive amount of impact, but it definitely will move the needle. Let me know what you guys think about this particular proposal. This idea of creating a wealth fund for the Cardano ecosystem and diversifying ADA to different tokens.

11:21
I know in my comments before I’ve seen people write, if you believe in ADA, it should stay in ADA, but it’s such a volatile asset and other other players are manipulating in the background as well. You know, Bitcoin drops because of something and you can see all the other assets drop as well or another war breaks out. Heaven forbid another war breaks out and

11:44
all of crypto, all the crypto assets just drop. And if we had something in stables right now, we might be doing a little bit better. So let’s think about this, guys. Let’s see what we can do to drive up the DeFi ecosystem and have more USD in the ecosystem. Now, this here is an interesting video from Jillian. I haven’t watched it all yet, but this talks about yield and how Fiatback stablecoins generate yield. So this is really interesting because Charles did

12:13
talk about this in various tweets and videos that having this wealth fund could generate extra yield for the ecosystem. So this will be yield as in the returns from treasury bills. So let me just play this video here from Jillian. Hey, let’s talk about stable coin yield. First thing I want to point out is that all of the regulations in the EU, in Japan,

12:37
they prohibit stablecoin issuers from offering the yield that they receive as yield to the stablecoin holders from the AUM. That’s prohibited. So you might be wondering how you’re getting yield on your USDC then when it’s sitting in Coinbase. That’s the structure I’d like to explain.

12:57
So USCC is a product and it is issued by Circle Internet Financial. That’s the company behind it. That is the company that is prohibited from giving you any yield.

13:09
Coinbase is doing is they have a share agreement in place, a revenue share agreement in place with Circle to get a percentage of their profits. And then they use that and they add to it with money that they get from fees and whatnot to provide you a yield. That’s how that works. So Coinbase is issuing the yield. The platform is allowed to issue yield to you.

13:36
Circle is not. In the same way on Cardano, Moneda Digital LLC is the company that issues USDM. So we cannot share any of our yield with anyone. What we can do is we can make similar share agreements with all of our partners, any of our partners that would like to do so, whether it’s a lending protocol, whether it’s a DEX, et cetera, et cetera, so that we can have.

14:04
a similar relationship where we share a portion of our profits with them and they would probably supplement to make their offer the most attractive to offer you yield. That’s how that would work. You can already get yield in some places, you know, through I think Sunday, Minswap, Liquid. These are places where you can get yield of some sort by putting your

14:31
tokens in pairs or lending them on the protocol. But for right now, we are not able to enter into any of those agreements simply because there is not enough in the reserve yet to turn a profit at all. We won’t be there until 150, 200 million assets under management, most likely. And that is dependent on you guys to go out and mint or vote.

15:01
with your ADA and make that decision to support the stablecoin liquidity. Thanks. Okay, there we have it. So that’s how we can eventually earn yield. So it’s not directly from minting USDM on the platform and having a relationship with them. It’s through other partners that they will work with, such as MintSwap, Sunday Liquid Finance.

15:30
any other borrowing lending protocol out there. So it’s all up to us really in the ecosystem to drive that usage and minting of USDM or USDA or whatever other platform out there. So Gillian said they need at least 200 million under management to be able to start generating profit from the yield that they earn. Right. So we’ve got a long way to go. We have a very long way to go.

15:59
Hence all this talk about creating some sort of well-fund of a hundred million in assets in stable coins and other assets and other Bitcoin to try and drive that up. Now, if that really is the catalyst for everything, it could attract a lot of people to the ecosystem. And, you know, people do like USDC because they can mint it, get it on Coinbase.

16:29
and earn that yield and, and, you know, just earn that interest doing nothing. And that’s the same type of experience that people want within the Cardano ecosystem. You mint the stable coin, USDM, you go to a DeFi protocol and you participate in DeFi there and you just earn the interest. It’s the simplest thing to do. So I’m a big advocate for this and I think it’s a really good thing. It’s a lot of, I know, I know a lot of people

16:58
don’t like the huge amount of treasury funds that would be used. But where else is this money going to come from? We’re not engaged with massive VCs that are interested. not. We don’t have big deep pockets in the Cardano ecosystem either with people just with hundreds of millions of dollars just lying around to do this. So they’ll have to come from the community. We’ll have to come from the treasury to initiate this and attract more people and more potential VCs.

17:28
into the ecosystem. When they see that there is a large amount of liquidity coming in and people are trusting it, it can attract other people to do the same. So I really do think this is a good initial kickstart for our ecosystem. And I really think now’s the time to do it before the larger macroeconomics start to heal and kick in. personally, I think it’s a really good time.

17:58
So awesome video there, Gillian. Thank you so much for putting that out there. And we’ll keep an eye out on what happens around this particular proposal to bring in this wealth fund for Cardano. But I really think just meeting more stable coins in the ecosystem is going to be a big boost overall. DeFi is a thing. if we can start having more of this and more strike and more flow coming on board, we’re going to see some really exciting stuff.

18:28
Now this is on the more of the DJ side of things and SNEC.FUN is innovating. They’re always bring some new things to the table and they are essentially the pump.FUN of Cardano but with a lot of guardrails in there. So they didn’t want to go full DJN. So they’ve got some protection measures in there. So you can’t like a front run of the ecosystem or anything like that. So it’s a little bit nicer for the users on the platform, but they’re putting in

18:57
live chats onto there now. So if you connect your wallet, that is essentially an identity and you’ll be able to use the platform and chat with people that are participating in a token sale. So this is, it’s all people, it’s all people engaging with project, engaging with each other, trying to, you know, cheer each other on, know, beat each other with how many tokens they can possibly buy on a particular token launch. So it’s, it’s a community kind of thing.

19:26
and having a chat within the TokenSale platform I think is a really cool idea. Hopefully it doesn’t go too DJ like Pump.Fun did with the videos and some of the insane stuff I saw on there. That was ridiculous. I’ll put a link to the video about it, top right hand corner there, links down below. The extremes that Pump.Fun went to to gain traction, but it worked. Maybe just a chat.

19:53
initiation here will work as well. But this is really cool stuff guys. Awesome work from the SNEC.FUN team. Now continue on with SNEC. This is the SNEC figurines. I got to give, really do have to give these guys a shout out. I just love the project overall, but these are like the figurines that they’re pumping out. They’re going to create 1,111 of these. There’s eight different possibilities. It’s going to be

20:18
Quite cool because it’s here we go. Let me just read what you get in this SNEC figurine thing. It’s more than just packaging, it’s part of the experience. And here’s something special. Every box carries the signature of the artists involved, 2D and 3D designers, motion artists, VFX, graphics, and physical painters. A tribute to every single hand your SNEC figurine passed through before reaching you. It’s not mass production, this is personal. So that it’s really cool stuff guys. I can’t wait to get mine.

20:48
I did participate in this one. Again, this isn’t an endorsement of the project. I just like this kind of stuff. I really do. Now the last thing here I’ll talk about is, this kind of inspired me and I thought I’d want to give away something for my own community of Cardano Press users and Wapoo holders. Now I went to a WordPress conference on the weekend and I got one of these pins. don’t know if you can see it there. My camera doesn’t auto focus.

21:17
But it’s one of these pins, it’s a Wapoo pin. And at these conferences, people try and collect them. They go to all these WordPress conferences to collect those pins. They’re pretty rare. And I mocked one up in ChatGTP. And this is based off a Wapoo, the original Wapoo here, this one here. And I wanted to give this away to anyone that is or has created a CardanoPress powered website.

21:44
and has it up and running. So there are still a lot of people in the ecosystem that have it up and running. Here, Off the Bone has one up and running they’re using on their platform to meet their NFTs. So if you do have one running, please let me know. I’ll put a link to this post, put a comment down below and show me your Condyne Depress website. I want to create, I’m just going to do a small batch. I’m going do 25 of these and send them out to anyone that has created a

22:14
Cardano Press powered website. And for any of the leftovers, I’ll sell online for a minimal price just to say thank you to everyone out there. if you are a fan of WordPress, if you have built something of Cardano Press, if you love WAPUs in general, let me know in the comments down below. And before we sign off, just a big thank you to all the channel members here. You guys absolutely rock. You keep my coffee addiction going.

22:39
helping support, buy me a coffee on a monthly regular basis. So thank you so much for all the support there. And if anyone else there is interested in supporting me on a regular basis, you can find the links down below in the show notes there. You can become a channel member and help me create all of this content in the Kidana ecosystem. So thank you so much if you decide to do that. But if you don’t, that’s okay. Just hit that thumbs up, like, subscribe on the way out and I’ll keep you guys up to date with everything that’s happening.

23:09
space. Alright, I’ll see you in the next video.