Cardano Ecosystem Update: Strike Finance, MPC Wallets & Cardano Foundation Reeve Transparency

00:00
Right, I’ve got a big Cardano News update for you guys. I haven’t been online for about maybe two and a half weeks. So there is a lot to go through and I’m personally just catching up myself. I’ve had Influenza A slowly recovering, but I’m almost there and tense. We’re back on these videos. But if this is your first time here, make sure you hit that thumbs up, like, subscribe on your way in. I’m going to be covering Strike Finance, some news from Iagon, MPC wallets as well. This is quite interesting. Reeves.

00:29
something that came out from the Cardano Foundation, the ETF, a couple of other mentions from IOG and also a lot of videos that I have to catch up on to watch and maybe you guys haven’t seen them either. Let’s get into it. So first up, just look at the price of AIDA at the moment. Being away for a couple of weeks, essentially I stepped away from the computer around the 30th of June here and having a look at the price action over the last couple of weeks has been quite nice.

00:57
So maybe I’ll just go from this down lowest point here on the 1st of July, essentially when I took some time off to the current price today, that’s been a nice 42 % increase roughly if I did the markers correctly, but 42 % increase in price at ADA over the last couple of weeks. So that is actually something really nice to come back to. And looking into what’s actually been happening in the Cardano space, there has been quite a lot. This is all fueled by

01:26
movement on other chains as well such as Bitcoin but let’s have a look at what’s been happening in the Cardano ecosystem. So the first one here is of course probably my favorite project at the moment Strike Finance and that I love this post. Last week we were on pace to distribute 1.44 million ADA this year to strike stakers. That’s a massive amount of ADA. This is old and outdated. We’re now on pace to distribute 2.68 million ADA to stakers. This has been an

01:56
absolutely phenomenal journey for the Strike Finance team. And if we have a look at some of the project updates, they mention here they are now at 120,000 ADA distributed to Strike stakers. So this is people that own the Strike token and just simply stake it on their platform. And we’ll announce when this distribution is ready. But this has been accumulated over the 15 days and we’re now on pace to distribute that 2.88 million ADA to stakers this year. Absolutely insane growth and

02:25
If you have a look at some other stuff here, these are some stats from the staking platform itself. So total amounts of strike state, 14 million. Circulating supply state, almost 80%. Unique stakers, 865. Not that many unique stakers. Quite interesting. Staking APR is 5.6. So this is much better than ADA staking on stake pools at the moment. And total distributed so far is that 86.7 thousand ADA.

02:55
Absolutely amazing stats to see here. But what about people that are actually using the platform to go long and short on the perpetual side of things? And this here, the Bendy AI is looking into Stripe Finance and covering the stats. But they state here, the top three traders on Stripe are sitting on 100k plus, this is in USD, of profits in under two weeks. And you can see here from the Bending dashboard, this is for the Stripe Finance leaderboard.

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down here, these are the top three addresses at the moment. And you can see the PNL profit and loss here, 160,000, 153,000, 100,000 there. That’s all in USD as well. this is amazing work from these people that have been messing around with the platform. this is the type of value that someone can get from actually using the platform properly. It looks like the entry price is really good when we had that slump in ADA’s price at 0.58. So.

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If you want to know how to use the platform and when to trade and do a long or short, follow these wallets here. You can use this platform, find these wallets and track their activity. This is the platform here, Bending AI. You do need an NFT here. I don’t know how much these NFTs are, but it’s a paywall service. And let’s have a quick look at Bending AI. Floor price, 162 ADA. Not too bad to be able to access this type of data.

04:23
Interesting, you might be able to get some this data at TapTools as well. So you may look on there to see and try and track these particular wallets, but this is doing it for you with their leaderboard. So pretty cool stuff. And I did look into my stats and analytics on my course here for Strike Finance as well. And this page here in particular, how to stake Strike tokens has had a massive spike in traffic.

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So people are interested, are learning and are aware that staking your strike tokens, if you have any, is well worth it because you do get that distribution of the staking rewards in ADA. And if you’re after more ADA, hey, why not? It’s a nice return there, especially at that 5.6%. So really, really interesting stuff. But remember guys, this isn’t financial advice. Please do your own research and dig deeper into what the project is all about.

05:21
Links down below for you guys as well. But Stripe Finance, absolutely amazing stuff. The next project here that I’m getting an update around is Igon and they have their Cyclone OS. This isn’t the Cyclone, the hardware unit itself. This is the operating system that you can use on the platform. So I’m not sure. think this is why, one of the reasons why there has been a little bit of delay of getting this operating, this piece of hardware.

05:50
the Cyclone Pro and the, I think it was the Pro, getting this out there for the users. I’ve purchased one of these and I’m waiting for it, but they’re trying to get the Cyclone operating system up and running so that you guys out there, anyone that’s using it has this really nice seamless installation, WYSIWYG setup for the hard drives that you put in there and away they go. So you can see here, it’s all being set up. It’s looking for wifi network connections.

06:19
And then it’s pretty much follow the prompts, fill in the details, and formatting the devices, and away you go. having this really quick, easy setup, I think, is a really important step in a user adoption of their platform. There’s one side where users are using it as storage, but the providers of the platform, you need to also make that as easy as possible. So actually, people will provide the storage.

06:48
Otherwise these big enterprises are after hundreds and thousands of petabytes of storage won’t be able to access it if the users can’t provide it. making this process really easy, I think is really key. And it looks like they have done exactly that. So now you get the dashboard, you can see all the stats behind your service and everything. very, very nice. Coming soon. There is no specific date of when we will see this or the hardware yet, but hopefully we’ll do see it soon.

07:15
I tariffs are kicking in again and that was one of the other issues as well. But we’ll see how this all goes. The other thing here that the Igon team have put out is a really good thread around the Igon peripheral concept around the infrastructure for legal entities. So this was their peripheral concept that they were doing with the Ford Motor Company. And a lot of people said, hey, what’s the big deal about this? It’s legal storage.

07:45
whatever, I really don’t care. But this here does detail it in a lot more detail and why it is really important. I’ll let you guys read through this. I’m not going to sit here and bore you with the details, but you can check this one out here and get a better understanding of why it is important to have compliant storage for all this legal data. Again, links down below for you guys. I thought this was a pretty interesting update. This is around MPC wallets and Mineswap team here wrote,

08:14
Cardano ecosystem is reaching new heights. MPC wallets are an easy access point into crypto investment opportunities for large capital deployers. By the amazing efforts of the Cardano Foundation and Zins official institutional capital can now invest in Min and other CNTs. Now you might be asking what on earth is a MPC? Let me explain that for you guys. So an MPC wallet, an MPC wallet uses multi-party computational technology

08:43
that’s the MPC part, with the intention of enhancing security for your cryptocurrency and other digital assets. It splits the wallet’s private key among multiple parties to increase privacy and reduce the risk of hacking breaches and losses. And I think that’s the biggest benefit of this. So when you have multiple parties holding the seed phrase, the private key, it reduces that risk of being compromised. So I’ve…

09:12
almost every single day get phishing scams trying to get my attention and possibly click on a link that would compromise my security and data. Now this here if someone was to fall down that trap and reveal their private key accidentally by putting it onto a fake wallet or whatever it is because that private key is split amongst multiple people only that portion has been compromised and because they don’t have the complete key

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won’t be able to access those funds. So it’s almost like a multi-sig, but splitting that private key across multiple different parties, maybe a third party custodian, cold storage somewhere, and then two other people that might have access. So this is highly beneficial for institutional investors where security is absolute paramount. So the Anzen’s teams have gone ahead and gotten this integrated in with this particular wallet called CypherBC.

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This is the announcement post here. This was announced a little while back, but let me go through some of the details here. So Anzen is proud to have led the way of securing Zero-Thi integration, bringing KadamuNav tokens to CypherBC, Advanced, MPC wallet. ADA and USDA was already on there, but now IAG has been added to the mix. But there’s also some others there. The Min is also added in, hence the MinSwap team were mentioning this. Now, why is this important?

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Real world adoption depends heavily on widespread availability of CNTs in creations like this, unlocking new users to markets, creating real world use cases, build global awareness for Cardano tokens. This strategic partnership was secured by Anzence and CF completely free of charge, leveraging our partnerships and collaborative approach. Awesome stuff there from the Anzence and CF team. So looking forward to seeing this one in play and…

11:03
It probably isn’t a service that I would use personally or someone The everyday user would use but CypherBC for these institutional guys definitely the way to go if you want to find out more about CypherBC and perhaps even try and use it yourself you can you can get to it at CypherBC.com This next big news story is from the Kandana Foundation and so about their launch of Reeve I think that’s how you pronounce it. So open source solution for on chain

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financial reporting on Kedano. Verifiable, auditable financial transparency, simplified cost efficient reporting, tamper-proof data sharing. They’ve got a whole bunch of links here to go through as well. But I do like this video that they put out. And let me just play this one for you guys so you can get a bit of an idea of what it’s all about. For modern businesses, transparency is essential. Accountability is demanded and trust is paramount.

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Introducing Reeve for next-generation accountability, a platform that delivers trusted financial insights for any organization. With customizable transparency unique to your needs, you can share what matters and protect what’s private, all on your terms. Reeve’s intuitive dashboards help streamline exploration and reporting, providing views tailored to you. And with immutable records on the Cardano blockchain, your information is always secure.

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ensuring verifiable, auditable, and permanently accessible transactions. Simplify your audit process and demonstrate responsible management. Unlock strategic opportunities through data-driven insights, tailored information access, and standardized modeling. Experience the future of financial reporting. Explore Reeve today and build a more accountable tomorrow. Now, if you want to learn more about it, you can get to it at theCardanofoundation.org slash Reeve.

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This is a really nice landing page that has all the information about what it can do and you can learn more about it from there. They also have a lot of documentation on how it’s all set up and architecture, authentication, how to actually run it and work through the platform. Now also the code here is all on GitHub as well. So if you’re technically minded and maybe you’re thinking about implementing this type of solution for a client, you can check out the GitHub repo documentation.

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and work out how you can do so. There was also a live developer office hours session with the Cardano community here where they did look into Reeve and had some of the experts there, Thomas and Marco, explain about how it all works. Now this was on the weekend and at a ungodly hour. So I wouldn’t have been able to get into this one here, but if you were interested, maybe this will be put online later.

13:55
and I’ll try and find the details and put it up for you guys. if I do get my hands on it, I’ll put it in the show notes. Otherwise, you may need to follow the X post here to try and find the updates and the recording. It usually comes up after a week, but hopefully we do get it. Now, the really cool thing here is that the foundation here published three days ago, the financial reports for the Katana Foundation of 2024 using Reeve itself.

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Hey, why not use the tech that you’re talking about then built to actually do your own financial reporting? It just makes sense. You can see here all the key highlights from the financial report itself. 29 million allocated cross adoption, education and operational resilience. 659 million in total assets as of 31st of December, 2024. 17.1 ADA earned three stake rewards.

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transactions now verifiable on chain using Reve. How cool is that? So that’s a definitely a good use of the tech itself to put into the financial reporting and you can find the report here as well. I’ll put links to it down below if you didn’t catch the links or see this particular update but you can see how the foundation is going and get all the data to actually verify this all on chain. How cool is that? Now this big new story probably the biggest

15:23
Over the last couple of weeks and this was the SEC approving conversion of Grayscale’s large cap crypto fund into an ETF This was extremely exciting and got everyone buzzing if you look at the price movement here. This is the first This is my time. So roughly the second year the price this is probably just a general bounce But then here you can see this little spike here was in response to that particular news. So we had

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two days of price moving in the upward direction. But look at what the SEC did a couple of days after. But seriously, a couple of days after, the SEC flipped on that particular announcement and said, we’re going to delay the ETF and not let it go forward for an unknown amount of time. They just don’t know. So what did GradScale do? So they’re challenging the SEC’s delay of the

16:19
GDLC ETF launch and calls stay order unlawful. Okay, so this is pretty interesting. So this came out a couple of days ago. So this is the summary here. Scales, Grayscale has filed a letter with the SEC arguing that it has no authority to delay the GDLC ETF launch. SEC approved the conversion of GDLC but issued a stay order with no public explanation. Experts say the delay is a likely procedural and temporary, not a signal of

16:48
political opposition. We’ll see. Hopefully it is just a procedural thing and we just they just don’t want to rush into these particular announcements. But having one ETF go forward means that a lot of the others will go forward following it. Now this is a spot ETF so actually trades against the currencies online as opposed to derivatives or futures. So this is actually trading the assets itself. So this is really important that this one gets through.

17:17
Here are some smaller news updates but still very important. This first one here is around Fund 14 of Project Catalyst. So they’re going ahead, they haven’t got the final go ahead from D-Rep yet for that particular funding and releasing those funds but it’s kind of a formality at the moment and we will see this all go through. So if you have a small project that is reliant on Project Catalyst, it’s time to get your running hats on and uh…

17:45
start putting in your proposals for this particular funding round. You can now register for the Town Hall and hopefully we do see this come up online very soon. I know a lot of projects rely on this particular funding and to have the whole budget process take so long it’s kind of pushed out to these project catalyst funds further apart. Usually we have two maybe three a year but at the moment it just seems to be having only one a year. We’re even lucky to

18:15
get a Fun 14 this year to be honest. But really good to see them pushing forward and hopefully we do see something out by the end of this year. This is a nice little update about Hydra and to learn more about what’s happening with Hydra as well. I won’t mention too much more about this but I’ll do a bigger update about Hydra in general. Then also I output put out this post about nested transactions with Babel fees.

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allowing users to seamlessly transact non ADA tokens without requiring ADA fees. Non ADA holders face barriers interacting with Cardano. They cannot easily pay transaction fees, supply min UTXO values or provide script collateral limiting accessibility. I totally agree. If you somehow got an airdrop into a wallet with, let’s say, NIGHT tokens, how do you sell that NIGHT token without having any ADA in your wallet?

19:10
Now, if you have Babel fees, you’d be able to sell those Knight tokens on a DEX without the need of having ADA in your wallet. I know a lot of people say, hey, Pete, we know how we have to create brand new wallets for these Knight tokens that we’re going to get. But then you’re saying, don’t put any ADA in there. How we’re supposed to sell it if we can’t pay for those transaction fees for the DEXes or whatever. Babel fees.

19:38
This is why import-output is talking about it now and mentioning it because there will be this interaction with the either Babel feed night contract or Babel feed platform like aquarium to actually be able to sell this night token. So we’re going to see this come in play very, soon. The other thing here is the Acropolis, project Acropolis. So this is about re-imagining Cardano’s node architecture for better developer accessibility. And this is the

20:07
the whole push to put all these different node versions of Cardano out there in TypeScript, Rust and Go or our standard HTTP requests. So this really coincides with all the work that Pragma is doing with Amaru because it really pushes forward the node diversity. And I have to also mentioned Amaru also got through to the final stage of being able to withdraw from the Cardano treasury as well. So it’s the very first project.

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to be able to get the funds from the Cardano treasury. So that’s quite a milestone. this here pushing node diversity and bringing the Cardano node architecture for better developer accessibility, I think is absolutely brilliant. So I thought I’d just mention that one there as well. Now over the last couple of weeks, there have been some really good videos to watch as well. Now this first one here is a round table talk at the Cardano Berlin hackathon. And if you have a chance, watch this one. It goes on for about an hour. I haven’t watched it all yet.

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but it’s a really interesting conversation about the economic sustainability of Cardano. The other one to look out for here is this really extremely long interview with Sean Ryan. Charles went on to this particular episode to have a talk about all these different things. The playlist timestamps here are quite diverse, but talks about everything from quantum computing, blockchain interoperability,

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course about Cardano Midnight. I haven’t watched the whole thing yet. I’ve watched about three minutes snippets here and there. If anyone has a shortened version of highlights that isn’t five hours long, I’d really appreciate it. Put a link in the comment down below if you do have that but five hours is a long time to go through all this stuff. The last thing I’ll mention here is the launch of meld gates and this is the wrap-up and legal proceedings against meld

22:04
for their collapse. Well, it’s the winding up of the company and it’s been taken to the Singapore High Court. So if you want to find out more about this, they’ve got a website, it’s called meldgate.com. You can find out what’s been happening. This is the biggest collapse of a project within the Kidana ecosystem. So we’ll give you a brief rundown of the history, why this site was created and the background for this particular liquidation and what happens next.

22:33
So you can find out a little bit more on this particular website, but you can see the winding up application. So this was issued on the 6th of June and then the hearing of it and the High Court of Singapore on the 4th of July. So it just happened very recently here, but you can see what’s been happening. The legal entities that are against Sogo Labs and what has been happening there. But I’ll dig into this one a little bit more.

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at a later date. But if you want to get up to date with what’s been happening, Josh here from Lakegang Crypto has done a breakdown of this as well. And he used to be one of the Meld ambassadors. I think this is very important for him to get closure on this particular era of his crypto journey, because Meld was such a big part of everyone’s crypto holdings once upon a time, but it’s worth absolutely nothing now. So these legal proceedings, keep an eye on them.

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to be very interesting and hopefully we see some accountability for what’s happened in the space so that it doesn’t happen again. That’s last thing we want to see. Links to all those videos down below in the show notes so if you want to watch them please do. Let me know if I’ve missed anything as well so if you’ve seen something that’s been really interesting leave a comment down below for me guys because I’ve been out of the loop. I don’t know what’s been happening over the last couple of weeks. And that’s all I got for this particular video update so if you enjoyed it hit that thumbs up like subscribe notification bell

24:03
And big shout out to all my channel members out there as well. You guys keep on supporting me along the way here. So if you want to be a channel member as well and support the content that I create, links down below in the show notes. But anyway, that’s all I got for you guys. So thank you so much for tuning in and I’ll see you guys in the next video.