Cardano’s 350M ADA Problem. Voting for the Net Change Limit, ADA News Update

00:46 350M Net Change Limit (NCL)
07:27 Community Opinion on NCL
14:02 Alternative Proposals
16:00 My Rationale and Decision on NCL at 350M ADA
17:46 Draper U Progress
20:55 Masumi Hackathon
22:14 Buidler Fest
25:28 Ecosystem: $Palm Token & Staking
27:38 $PALM is cross-chain thanks to Rosen Bridge
28:20 DeFi: Liquid Finance APY for $USDA Lending
30:12 DeFi: Indigo Opportunities with iSOL
31:42 VyFinance OTC Live on Testnet
33:50 Stablecoin: Moneta Brings USDM to Retail
35:49 DeFi: Metera TGE
36:30 DeFi: ADA10 Index with Xerberus
38:34 DeFi: Perpetuals are coming soon
39:53 DeFi: Danogo Phase 2 Testnet
40:19 DePin: Nunet Updates
43:22 Shoutouts
48:46 Wrap up

00:00
A midweek update for you guys, we have 350 million ADA on the line with this net change limit. We need to vote this through or else potentially we won’t see progress within the Cardano ecosystem. So this is a big talking point at the moment. We also have some updates around Draper U, Bidler Fest that is coming up in Da Nang in the end of this week actually, and also various updates around the DeFi ecosystem. So there’s some opportunities out there for you guys. I’m going to mention a few there.

00:29
And then big shout outs for various projects that are working and building continuously within the Cardano ecosystem. Thanks for joining me, guys. I usually concentrate on governance side of things, but I’ve got a lot of project updates in this one as well. But before we get started, hit that thumbs up, like, subscribe on your way in, but let’s get into it. So this first news update here, this is around the net change limit. Now this is of governance voting governance, info action at the moment. And it’s the NCL.

00:58
is essentially the limit of ADA that we can withdraw from the Cardano’s treasury within the budget year. And at the moment, it’s set to the end of this year, 2025, and it’s being proposed that the limit be 350 million ADA. That’s quite a lot of ADA there. And at today’s price of ADA actually translate to just under 240 million.

01:26
So that’s quite a lot of money at stake here. That’s essentially all these projects and putting up the proposals. If you want to watch my last week’s midweek update, I’ll go through a lot of these proposals, budget proposals that are putting being put up at the moment. But essentially these projects can draw on that amount of funding to start building and do whatever they need to do in the ecosystem. And IOG

01:50
Amerigo and Kedona Foundation all have very large proposals looking into pulling in from that treasury to build what they need to do. Now this post from Charles here talks about the need to get this over the line. And I personally believe that we do because if we don’t get this, it’s going to delay this budget process for even longer. So at the moment, we’re voting on all the various budgets to start building out the various aspects of Kedona such as layoffs, scaling, hydro,

02:19
catalyst for next next three rounds as well. So there’s a lot of funding that needs to be pushed through. And if we don’t and if can’t come to an agreement, then we won’t see movement on this. Now, a lot of people have put forth their arguments for and against this as well. And I’ve already voted on this and I’ll put in my rationale here at the end of it as well. But I usually put on the Learn Cardano website. I just haven’t had the chance to get because I’ve got all these presentations have to do.

02:49
So let me read through these comments here. So Jim here is opposed to it. And then Charles responds, if we go to the RFP for everything, IOG will not participate and will eventually exit all development after reaching a stopping point. It’s a race to the bottom and it’s not sustainable. So essentially all of these, these are core submissions into the budget process should go through an RFP process. So essentially three or four entities

03:18
may submit budget requests to build out the core infrastructure of Cardano. And based on that, the DREPs and the Constitutional Committee will look through all these various budget proposals and then award the best RFP to continue building out Cardano and all the features, cetera. The only problem here at the moment is that IOG is the only entity

03:48
that is fully capable of building things out at the moment for Cardano. I know that isn’t very decentralized and eventually we’ll get to a point where the development of this will become more decentralized. It will take, I’d suspect another four five years and we’d have to go through this budget proposal four or five more times to get to a fully decentralized point. But we are getting there, we’re moving there and we’re seeing other.

04:14
agencies, other entities step up and start putting in RFPs as well and budget requests to start building out other aspects of Cardano and changing the language, for example, of the Cardano node to go or Boris and making it more decentralized that way. So there’s definitely movement there, just that we’re not at that point yet. So we’ve got some more of the conversation here. Why don’t you want to go the RFP route? What’s so daunting in this process? Competition breeds excellence.

04:43
It does not for this type of software. will be erased at the bottom and the counterparty isn’t sophisticated enough to understand the nuances. This is a red line for us. I won’t put my people through it. We will all lose money and eventually have to leave. It sounds a little bit over dramatic here. He’s probably right. It’s like all these engineers that have been working on the Cardano Nodes, Cardano software, everything related to infrastructure.

05:11
behind Cardano have been working on this for the last seven years. So they do have the depth of experiences and understand all the nuances here. So that’s definitely true. And at this point in time, we are not ready to RFP this process. We just don’t have the skills like I was saying before. And Umed here replies, it’s hard for me to believe we don’t have enough smart people in Cardano to put together a comprehensive spec list that will account for all

05:40
of their required nuances. We kind of do, but we just don’t have the time for this at the moment. The code is open source. What are your chances that the competitors will read through it and not get it? It’s we, you know, there are not a lot of smart people and there’s a lot of contributors to the ecosystem. I totally agree with that, but it’s not enough. We really don’t have enough developers in the ecosystem to, to build out everything that is needed.

06:09
Charles here continues, the institutions aren’t strong enough and act as a counterparty for evaluating bids and firm fitness. Everyone seems to have issues with intersect and then wants to hand them absolute power to choose winners and losers. So as you can see, Charles is essentially going to pull the plug on the whole RFP process and not even bother. And, you know, it’s I, I kind of could see him.

06:36
pulling because he’s got focuses. IG has focus on midnight, the next evolution of blockchain tech. So the fourth generation of blockchains where you’ve got privacy integrated in as well. So this I totally agree could be a sticky point for IG and could just pull out. at the moment, I really am pushing just to vote things through and get things done. Now, now, I had these proposal. I have to add this in. It isn’t the full.

07:05
350 million ADA. Their proposal, I think it was 45 million USD. So I think it’s like 96 million ADA. So it’s only essentially just under a third of that full amount. Plus there’s all these other entities that need funding as well. But it’s not the full thing. It’s they’re not going for 350 million. So we have people voting. So Patrick Tobler here, prominent member within the ecosystem.

07:33
Voted no on the 350 million net change limit. I believe it’s too high. I’d like to see it below 250 million. 250 million, think, is a good number as well. I’ll talk about my understanding and my rationale in a moment. But let’s get the budget out soon so we can fund IOT development. Don’t forget we already

07:56
At the end of April, we have no clear proposed budget. We don’t have a net change limit. Intersect seems to be still trying to find its way. We’ll vote on another net change and another budget likely in January next year. So in seven months, we don’t need we don’t need that much budget for 2025. So, yep, I agree with you there, Patrick. And, you know, we just need to get things rolling. But can we get to an agreement with everyone on this? Maybe, maybe not.

08:26
Linda here writes, yes, I voted why I voted yes on 350 million ADA net change limit. By voting no would risk a 60 day delay in funding, stalling innovation, missing out on crucial community funding due to IG’s likely dominance in funding requests, absorbing most of the available net change limit. Addressing the concerns around yes vote, treasury depletion, most of the funding will come from the treasury inflows, which will amount to roughly 250 to 300 million ADA.

08:53
Even if the full 350 million ADA is spent, it is currently a burn rate of likely, it will still take 50 to 20 years. Completely agree with this. And this is one of my rationales as well. The current inflows from fees that we get is around that 300 million mark. And this was the part of the rationale to decide on that 350 million ADA as that initial point. If we are pulling in from fees,

09:22
300 also million ADA and the likelihood that this development of layoffs scaling, et cetera, more catalyst funding, the more of this funding that goes out there, the more adoption, the more attention on the Cardano ecosystem. We should see the drive up of transactions and everything else around it or raising more funds. So the idea is that we spend the money to generate more revenue and more activity on chain. So this we should see

09:51
I be replenished quite easily so I’m I’m not really feeling it guys I’m the argument that will deplete our treasury so quickly I just don’t see it especially when we’re generating enough to keep it sustained. Let me continue here sell pressure minimal even if the entire 315 million were distributed it wouldn’t be sold all at once totally agree with the Atlanta it’s done in milestones especially with catalyst which runs.

10:20
So this this funding would be spread across three different catalyst fundings probably to mid next year and that catalyst funding also gets chopped up into further milestones. So you don’t see the big sell impact at once. We would not see 350 million ADA get distributed and sold. You see that all staggered out over time. So yes, it will be sold. Maybe not all of it. Maybe a large portion will also be saved.

10:48
and stored in treasuries and vaults of these various projects, but the sell pressure won’t be initially in one go. It will be spread out over a long period of time. To put things in perspective, in the last 24 hours alone, ADA trading volume across sexes was approximately 600 million or nearly 1 billion ADA. That kind of volume can be absorbed. Any moderate sell-offs from treasury dispersements without crashing the price. Totally agree.

11:17
I need to move forward yes we need to move forward we need to get this whole budget process. Organize and and struck off like it was taking so long like this whole budget process started roughly what late January early February and it’s mid April almost end of April now it’s the twenty third of April and we’re not getting anywhere. We still have so many proposed a vote on this is taking forever if we go for another net change limit and reduce that number to let’s say.

11:46
Patrick’s proposed 250 million. It’s going to take another 30 or so days, another five epochs to go through and vote on that. So if we vote no for this one, then we vote yes for the lower value. It’s another 30, 40 days before that is going to happen. So it’s reducing our time period by another month. What else is willing to say here? Net change limit is just a cap. The amount of three Mifnix

12:14
350 million ADA limit is just a maximum. Yes, that’s right. That is totally right. With all the budget proposals out there, there’s many that have been submitted and I’m looking through them and I just think it’s crap. It’s just utter crap and should not be voted through and shouldn’t make it into this particular budget. I’m voting on mostly the core stuff and what is essential to get Cardano through 2025.

12:43
and take opportunities of potential bull runs this year. I’m a bit more on the conservative side, a little bit more pessimistic about a bull run this year. I don’t see it with the current economy and all these wars that are going around. But if it does happen, we need to be ready for it. So I’m voting for the core things that need to be done, such as the IOG budget.

13:10
And score infrastructure stuff that needs to be pushed out and a little bit of marketing and awareness just to remind people that we exist. So we don’t need to spend all that 350 million to vote for something a little bit more moderate and get things that are essential over so we may see like for example I may vote and vote yes for a maximum of 150 million worth of a project so you know.

13:37
It’s it’s that kind of thinking that we need to remind ourselves as well so if you see other projects out there that look like a griff’s like they’re just trying to milk the treasury vote no it’s quite easy. Alright what are we also okay so this is the other aspects around it but if you want to read this I’ll put links down below you can see Linda’s rationale here as well.

14:02
Now there are alternatives and I’m going to give a big shout out to Jane here. Jane is a really great Cardano community member. Please follow her. Am I following her? Yes, yes I am. Now she is, I believe a retired lawyer and she’s been going through like the 1694 Cardano constitution and made many recommendations about simplifying the language. It’s really complex. It’s way too much. But she’s also tightened up the language.

14:31
Of this Kedarnan net change limits for 2025 and put up this brand new proposal for anyone to grab and put into another governance info action so governance action submitted blah blah blah so this is all the details here she’s proposing for a slightly less value here of 200 million ADA which you know I’m fine with as well because that’s within my ideal budget.

15:01
restrictions that I’ll be voting for. So if anyone has the spare 100,000 ADA and get this up and running as quickly as possible, then we could possibly push this net change limit of 200,000 through a lot quicker. I don’t know if we can, but maybe we can set a quicker time limit. Not sure. Maybe because we’ve got eyeballs on this 350 million one, we can get this one pushed through quicker. I’m not sure how that

15:31
time limits of these governance actions work. But this is a full template. So if someone out there had a full, had the budget, not the budget, the deposit required that 100,000 ADA to submit this one, can. So Jane, thank you so much for your time and effort and contributions to the Cardano community there. But that would be brilliant if someone could do that. And if it works within timeframes to get this pushed through quicker, that can work too.

16:00
But overall, my rationale for this is that we need to get the ball rolling. We need to push through whatever we can so that we can get the budget process started and start getting ready for a potential bull run. I do have conservative views in regards to how much the Cardano treasury should be spent every year. So we don’t need to spend that whole 350 million. I know there’s arguments, you know, if there’s 350 million people going to try and spend it. Sure.

16:29
But D reps are the guard rails here. People such as myself and many others in the community are looking at these proposals and just shaking our heads going, no, this shouldn’t be passed through. So I would vote no for many of the proposals out there and I’m still going through them. It’s supposed to only be spending eight hours a week or a month at the most on this stuff, but it’s taking a lot more time at the moment. But anyway.

16:58
My rationale is that the 350 should be pushed through. We don’t need to spend it all. The Cardano Treasury will replenish it back and hopefully the activity that we see from the results of the approved budgets do increase the value and activity and transactions volume, everything around the Cardano ecosystem. So that’s my rationale. I will put it up on the website and I’ve actually already voted yes last week when people were talking about this. I’ve

17:27
Way ahead of the game here. I didn’t wait to the last minute. I thought it should be pushed through. Just didn’t have time to put out the rationale. But if you want to find out more information about any of that, I’ll put links to the everything, the net change limit governance action. It is all on gov.tools. You can find it all there. But links in the show notes down below for you guys. All right. So moving on to some other news updates. This is updates from Cardano and the Draper U program. So for those that didn’t catch up with this,

17:57
Draper U is a startup accelerator program where all these 20 Kudano projects, some of weren’t Kudano projects, some of them came from Ethereum, et cetera, but they’re all over in the Silicon Valley at Draper U being onboarded into the program. So this program will take them through VC funding, startup accelerator stuff, and get them to the point where they’re got their company ready to pitch to VCs. So Draper U, awesome program, cost us quite a…

18:26
Quite a lot of Ada for this process was a catalyst thing, but these projects are going to be poised to accelerate their growth over the next year. So really excited to see what happens from all of this. Now this post here is just the guys and girls having fun with the Draper U Tesla Cybertrux. So I guess they got a fleet of Cybertrux there just messing about, but it’s awesome to see the teams, you know.

18:55
being a part of the residency program and I’m looking forward to seeing what comes out of this whole thing. We’ve got a lot of really cool projects that are a part of this. Let me just pull up the actual projects themselves. So give you all a reminder of who actually came through and got to the end of this. There’s quite a few posts here. Here’s some more happy snaps of all of them. But let me just go down. There was one big post where it had all the icons. Here we go. So these are all the projects that managed to get

19:24
through so there’s a lot of projects that you may recognize there as well. Some projects haven’t heard from in ages like Crash, I haven’t heard from them in ages and curate. I finally worked out who they were there. One of the Australian guys got over there as well. But some of these other projects here, which caused a bit of controversy, this open food chain, this particular project here came over from Ethereum and there’s a couple of other ones as well. I can’t remember what

19:53
was I think go Rosen as well wasn’t exactly from not Rosen bridge that you normally would be familiar with but they’re coming over from other ecosystems and I think ex be fire was one of them as well might have been something else yeah they into gambling so completely different not from the Cardano ecosystem but you know if they’re bringing in users from other ecosystem.

20:19
integrating in Cardano and onboarding more users and expanding their reach. Great. I don’t really have an issue with that. I know there’s a lot of Cardano projects that could have had more exposure that essentially do what some of these other projects here do, but it is what it is. These VCs decided on the final shortlisting, but it’s good to see that over 70 % of the projects are

20:48
Cardano projects and have been, you know, building in the space for a long time. So congratulations to all those teams. Seriously. Some of the team members continued on with this brilliant hackathon for the Masumi hackathon in San Fran. So a couple of them stayed on and let me just play this video here in the background. But Masumi is all about building AI agents and integrating blockchain there. So they’ve got blockchain marketplace.

21:16
build these AI agents. And I guess it trades data over the blockchain. So these this is the startup groups, you can see them all working hard in each one of these little hubs, building out whatever they’re building. I don’t know what they’re up to. It would have been great to see some of the pictures afterwards. But we do have the winners here. So we’ve got some familiar faces. We got the Gero Wallet guys. don’t know. Yep, Gero Wallet guy here. I think it was Adam. We’ve got so

21:45
Got some other people from ZKFold, ZKFold there, VesperWallet and Xbify winning out the honors of the hackathon winners. So awesome stuff guys. This is really cool. So some of them went over for the DraperU stuff, decided to hang around for this hackathon too and took honors there too. awesome work for VesperWallet and ZKFold and Xbify. They’re all at DraperU too. So amazing stuff.

22:15
Now continuing on with the builders in the ecosystem, there is Bidler Fest and this is a Cardano builder specific event where all the top Cardano developers are heading over to Da Nang in Vietnam for a little meetup conference. No cameras, no schedule really. They’re going to go through and see some presentations from various projects. Some, I believe Midgard is doing a presentation on

22:45
their tech for the L2 solution. So I’m really excited to see what comes out of that. But basically this is all the big brains within the ecosystem coming together and saying, hey, we could do this. We can build this. What about this? Have you thought about these ideas, et cetera? So this is really exciting stuff. So all the top names that you would expect in the ecosystem are there at the moment. Having good time, but yeah, also we’ll be hunkering down.

23:15
and doing what they need to do to bring Cardano to the next level. And I thought this was quite a nice little thing put together by the book IO team. And this is I Can Aiken, EUTXO Smart Contracts on Cardano by John Green. So this is a book, an ebook that can help you learn how to build smart contracts on Cardano. So if you were interested in this particular

23:45
book you can get it on the book I let me just check if you can. There it is there so it’s not available just yet. it’s a promotion at the moment I don’t know when this one might be minting there’s 2000 copies of it to go. But when this is up online you can get this ebook and you can start using it to learn how to write smart contracts so this is brilliant.

24:12
It’s self publishing on the art of green, same guy that did Katana from the masses. Great. So this is all going to be minted through book IOs so can get your copy there. I’ll put links down below so you can get a copy of that when it does come online. But this is really cool stuff. So if you want a free copy here, just follow us, like this post, repost it. Do this thing and that thing. There we go. Done. You can possibly get a

24:40
copy of this book I have to tag a friend as well I don’t have any friends

24:47
Yeah, right. There we go. Tagged Vitalik is a friend of mine. But yeah, you can get a copy of that book. But if you don’t, maybe I’ll try and purchase a couple of copies and I’ll give it away on my channel as well. Anyway, that’s a Biddlerfest. Awesome stuff. Can’t wait to see what comes out of it. If I do see any really cool things, I’ll put a follow up video up and talk all about what’s happening there.

25:16
Unfortunately, this is an event just focus for developers. So media people, YouTubers such as myself aren’t really welcomed, but that’s okay. We’ll find out what happens and I’ll report on it as soon as I can. Now I want to go through some defi opportunities or general opportunities from the ecosystem as well. Now the other week, the Palm token did launch. So they went through their token generation event and they turned on all these various aspects such as liquidity pools and also

25:46
how to claim your tokens through drip drops and also how to start staking your tokens as well. So all this is now online at portal.palmeconomy.io. They’ve also got a huge amount of tokens already staked within the ecosystem. So let me just pull up the live data here. We’re at 481 million Palm tokens staked within their platform. So if you were part of their ISPO and you

26:14
were staking for those tokens such as I did, but I haven’t claimed them yet. You can go to the drip drops, claim your tokens there, then go through this platform and then start staking on there to earn some more rewards. They will have an estimate rewards calculator on there as well. So you can see your API for staking. So it’s a nice way of earning some more of these tokens if you’re a believer of their ecosystem. So that’s some nice opportunities there. They have various liquidity pools and everything else launched on the

26:45
various dexes out there. So if you’re looking to buy something you can, but you know, before you get into any of this stuff, please do your own research. Please understand that this is all risky stuff. If you don’t know what you’re getting into, probably shouldn’t get into it. Educate yourself before diving in. Now this is also not a endorsement of the project. I’m just a big fan of what they’re doing in general, delivering.

27:10
Commodities and real world assets on the Cardano blockchain. So this is just brilliant stuff overall, but please do your own research and not just for this but for all the Projects that I do talk about Now they do have the eternal wallet work working for this palm staking as well So it’s not every single wallet is working at the moment that lace and eternal is working So if you’re using one of those two wallets, I use both of these it should work perfectly fine

27:39
The other thing that you might want to know is that the palm economy is a cross chain token. So you can actually cross chain swap it over to the ergo ecosystem and finance smart chain. Awesome. So you can move this token around all over the place across any token swaps palm and RS palm. So you have the opportunities there to move this token around to different ecosystems, get more exposure on different DEX’s platforms.

28:08
as they start launching over there as well. lots of opportunities there. But awesome to see that the the Pimeara team, the Palm economy took advantage of Rosenbridge to move assets over.

28:21
Now, we want to look into some borrowing lending protocols and some APY out there for the various ecosystem tokens, USDA, they’ve been doing some amazing stuff in driving liquidity within the ecosystem. But here on Liquid Labs, you can now get a 5 % APY for any USDA lenders. There’s a high yield for USDA across any Cardano DeFi protocol above 1 million liquidity. So this is what we’re looking at at the moment here.

28:51
Let me open this up in a new tab so you can see it in more detail. There we go. So if you supply USDA as a asset to borrow, there it is. You got borrowing API 16.24%, supply API 4.63%. So really good, nice yield there. We’ve got some other yields. It goes to USCM, 1USD, 1USDT, ISD and 1DI as well.

29:19
So nice APIs there, but definitely the highest there for USDA across any of the DeFi, DEXs, et cetera. So this is a good opportunity if you believe in some of these stable assets to dive in and get some extra earnings through the Cardano ecosystem. So awesome work there from the Liquid Finance team. I don’t cover these guys enough. And I don’t do much borrowing and lending or providing of liquidity on these platforms. Maybe I should.

29:47
Because if you’re earning an extra 4.63%, 22.26 % on one chain USD, it’s kind of worth it. It’s earning you rewards. it’s an opportunity that you should look into. Again, do look into the risks, factors, risk and reward factors for all this type of stuff before jumping into any of it. Now on the other side here, we also have Indigo synthetic assets.

30:16
And the indie stakers in previous epoch here had a nice 30 % HRA with almost with most of it paid out in ADA 25 % of it. That is really good. So if you’re providing indie stake within their ecosystem, you’re getting ADA rewards, like straight up ADA. What could be better than that? Probably straight up USD. So you can exit and pay for bills or whatever it is. So this is a nice DeFi

30:46
there for a lot of users. again, Indigo is another protocol that I don’t use much. And again, I probably should. And they’ve been playing around with some really interesting assets here. I Solana. So now you can have a synthetic soul tokens within the Cardano ecosystem as well. So if you’re interested in getting some exposure into souls, the soul token, can. I don’t know why you would, but you can.

31:15
So the sole stability providers here are crushing it with a 30 % HRA staking indie to provide ISO stability and they now earn yield on the platform too. So if I zoom in on this, you can see the state ISO, state value and all the details around it. So if you’re interested in this one, I’ll put links down below so you can find out a little bit more about it too.

31:43
Now Vi Finance have been working on this OTC feature and they said it was going to be released on the 22nd of April. I saw another updated post. This is now available on test net and I will after this video test it out and see how it all works. So the OTC things I said in my last video that it’s mainly for whales. So someone probably watched it and wanted to correct me here. OTCs aren’t just for whales.

32:10
Avoid slippage on big buys and sells, trade privately, no moving the market, easy for beginners, direct buy selling matching. So this is a nice way I can put in like ADA that I want to sell for USDA at a certain price and anyone that wants to match that price for my, and anyone that wants to match that price or sees that and wants to match it, they can do so without moving the needle on any of the DEXs.

32:39
So this is a really nice way of going about trading without worrying about slippage, price impact or anything like that, that you get on a lot of the major DEXs. So this is absolutely awesome. So you can always put up a buy or a sell order and hopefully it matches up with someone that agrees with those particular prices. So if you want to try this out, you can. The other cool thing about this is that it is a Plutus V3 script. This is the first one out there.

33:09
project to release a Pluys V3 smart contract and put it up there for the community to use. So this is more pioneering stuff from the VIFI team. Have I told you how much I like VIFI? It was the first ISPO that I, not ISPO, the first ICO that I participated in since 2017. So, you know, that’s how much confidence I had with the project.

33:38
I jumped in in the early days in the ICO to support the project and also hopefully get some gains from it as well. So big, ups to the VIFI team there. And I will test that out and put up videos about that afterwards. Now this is another big project, the USDM. They deserve a shout out here for bringing in the retail access for USDM on the 1st of May. So today’s recording 23rd of April. So not long to go. They will allow

34:06
all users to mint USDM from their platform. These are the states in the US where you will be able to do this. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19. Yes, so still in the 19 states that they initially started with. So hopefully they get more states on board as they start going through and trying to get it mass.

34:34
acceptance across the US. So hopefully we see that soon. International users are also eligible for this. They are physically located in one of these states of the time of minting. Ah, right. So you only need to like fly over to Hawaii, do your minting and then you can get out and it’s all good. Okay. Interesting, interesting. So accepted currency is US dollar USDC. So you can move in USDC from another chain over to it and get working and start minting. So that’s absolutely brilliant.

35:03
What to expect post launch, initial launch focuses on stable compliant access, but we are not stopping there. In the weeks following the launch, we’ll roll out UX upgrades and new features to make minting, redeeming and navigating your USCM dashboard even smoother. So this seems like a really good starting point for the team at the moment for retail. So really looking forward to seeing how the TVL numbers look.

35:32
after this particular launch and hopefully we see a lot more people start jumping in because it makes it a little bit easier for them. So awesome work to the USDM team there at Mineta and hopefully we see some good upswings for the team from here on in. Now I’ve got a bunch of shout outs for various projects in the ecosystem here. Now Matera, this was last week’s update on the 15th of April.

35:58
But they have now their liquidity pools live. So they went through their IDO or the LP went to the min swap deck. So you’d be able to go through and swap for material tokens if you want. If you got some of the material tokens, you can sell them, do whatever you want. So this is the next big step forward for the team. They’ve managed to raise the funds and to get liquidity out in the ecosystem. Next step, launching. Yes. Come on, guys, launch. They’re launching.

36:28
their index funds. So indexes for the Cardano ecosystem and one of the big projects out there that are partnered with them is Cerabus. And Cerabus have their top 10 ADA index. So all these top 10 projects that are working and building with the ecosystem, you’ll be able to get exposure to them via the index at Matera. You can buy in through that ADA 10 index and you get exposure to all those top 10 projects within the ecosystem.

36:55
So you don’t need to, the best thing about indexes is if one of them fails, you only lose that small portion. So if you were, for example, all in on token XYZ and suddenly they rug for whatever reason, you lose all your assets there. But if it was in an index and only 10th of that overall index was allocated to that token, if they rugged, you only lost 10%.

37:24
So it’s not as much of an impact. Of course, you don’t get as much of a gain as well. if, you know, token ABC goes to the moon, you don’t see the massive gains, but you still do see a portion, a small amount of that gain across your portfolio. So it’s a nice way of getting into the Cardano ecosystem, gaining that type of exposure, but not needing to worry about monitoring the markets constantly and wondering what’s going on.

37:54
You let those guys manage the the the index, the exposure and the risk of the various projects. And then all you need to do is buy one single token and you get exposure across the whole Ketana ecosystem. So indexes, I absolutely love. It’s very similar, pretty much the same as the S &P index or the Dow Jones index, the NASDAQ, you can buy into those particular indexes and get exposure to the top companies trading within that particular index. So it works on the same

38:23
premise. And you know, I can’t wait for these guys to actually launch so I can get my hands on those particular sources of investment channels. So you know, I’m looking forward to this one. Next shout out here I want to give is to strike finance and they’ve got the derivatives play, but they’re working on their perpetuals at the moment. So they’ve just gone through their first audit almost complete bunch of improvements they have to do. But after this audit, hopefully we’ll see more about their perpetuals.

38:52
This allows you to do put and call options on the Cardano ecosystem with absolutely no time limit. So you can go long on a particular token, ADA for example, and if you think it’s going to go up tenfold in the next 10 years, then you can just keep that option onto the ecosystem on their platform and people can trade against that, etc. But you don’t need to worry about it because you’re going

39:22
for an extremely long time in the future. So you can set and forget, come back in five years, AIDA price has gone up and you’re all good. You can execute on that particular smart contract and get your gains. So it’s a really nice opportunity here. Other ecosystems have perpetuals and it just works really well for them. So hopefully we do see this one launch soon. It’s good to see that they have their audit. I’m not sure who’s doing the audit. I have to get those details.

39:50
But this is something I’m definitely watching for as well. I’ll give a shout out to Denogo who doing their fixed rate testnet at the moment. They did have a live stream that was going through and testing out the amount of calls and just doing back end testing and monitoring while this testnet was going. They did get a good amount of reach as well. So if you are interested in what Denogo are doing, check out the links down below and you can find out more about what they’re building there too.

40:19
This next one here is new net. Now I did submit an application for this as well. So if you want to get access to this links to their Google form there, but this was last month, so almost a month ago, but this is for the new net appliance and it’s testing live. You can test, can check out their platform and see what they’re doing. They’re doing the whole decentralized compute and decentralized storage as well. So simple to what I gonna doing.

40:46
But they’ve come over from the singularity net ecosystem. So they’ve got a slightly different approach and would like to. I’d love to see this one fully launched as well. So I’ve done interviews with the teams in the past so you can check that out on the channel as well and find out exactly what these guys are building. But I will be testing out their decentralized compute or stake pools. I’ve got the code. It was made available to me last week. So I’m going to try that out and see

41:17
and if it’s cost effective to run a state pool node within their ecosystem. Now, why is this important? Well, with the Laos coming out with a lot more scaling capabilities for Cardano, when that comes out, we are also going to see the resource usage increase. So because we are processing more transactions per second and doing in parallel,

41:46
We will need more compute power. We need more RAM and new net could be a very good way of reducing that cost. So for a lot of small state pool operators out there at a moment, you have to run several nodes. So you have to run at least two relay nodes. If one relay goes down, you have a backup. So that’s two nodes and then your block producer. So that’s three nodes and you may also have a backup block producer as well. So that’s potentially up to four nodes, but let’s say it’s just three.

42:15
And each one of those will cost roughly 90 US, which is the cheapest at the moment. So that’s 180 US dollars a month. And if this upgrade of layoffs comes in and doubles that price, you’re going to look at 360 a month and also not meeting a single block that will take that would that will kill any small state pool operator out there. So having some options here.

42:41
So you got bare metal so you can buy the hardware and store at home. And if you’re a small state pool operator, highly recommend you to start doing that now, preparing yourself for the next era. But you have those options here now with new net to get decentralized compute power and run your state pools across that. This is really exciting stuff. So I’m going to try this one out and I’ll report back and let you guys know how I go. I got to report back to the team as well. Let them know about my experience.

43:09
But this is really, really exciting stuff. So if you want to check out what new net are doing and try out this new net appliance as well, links are down below. You can find out exactly what they’re up to. I wanted to give out a shout out to this brand new podcast, and this is World Mobile Reclaimed podcast with another Australian here. This is Koala Steve, state port operator over in Sydney, met his daughter, which happened to be the bartender at a Kodino meet up, which is so

43:39
So weird. She was just happened to be there. So a whole bunch of Cardano t-shirts and went, Hey, are you guys from Cardano? My dad’s a state pool operator. We’re like, what the? And she introduced herself and then we gave Koala Steve here a lot of grief for not rocking up to the event. But anyway, this is a brand new podcast that you can check into, listen to and watch.

44:02
and talks all about world mobile and what they’re up to with world mobile chain. They got their life staking and all sorts of things as well. So world mobile, I don’t cover too much these days. They’re not on the Kandana ecosystem anymore. And I’m I’ve lost all my world mobile tokens. Unfortunate story. It’s in a wallet somewhere and I’ve lost it to seed phrase and I have no idea where it is. So unfortunate about that. So I’m kind of bummed out of it because I’ve lost all my tokens. But if you are in the world mobile ecosystem,

44:31
brand new podcast for you guys to check out on a weekly basis. These guys are talking about the impact of what word mobile can do. So do check out this podcast. It’s really good. Now, if anyone else did want to shout out, I will do this on a regular basis. I’ll put out a tweet and I’ll post, you know, I’m recording a video. Do you want to shout out and I’ll just, you know, do a refresh here. But if anyone wants to shout out, they can check this particular post here.

44:59
will reply to the post and I’ll just scroll through it to make sure that some of yours get it always get a shout out. So the Tokyo team, they’re doing some really cool stuff. They got a bunch of really big updates. Nuvla have the Evola updates and they’ve got some some really interesting announcement of an announcement. I don’t know what it is. They haven’t left any clues, but it’s something apparently big in the US. I got no idea what it is. I’ll report on that once details are actually out. USDM.

45:29
I mentioned their retail, retail stuff coming soon on the 1st of May. This here from Main Street. I haven’t heard much from Main Street. I think it’s not happening at the moment, but we’ll see. Obamera, the stable coin, is like an aggregate, combined stable coins across the ecosystem. So you can create the Obamera stable coin. I believe this is how it works by providing liquidity of other stable coins. So it’s like,

45:58
homogenous hybrid of all the stable coins out there. So it’s a nice way of getting one single stable coin within the ecosystem by providing liquidity of all the other stable coins out there. So it’s an interesting one. So if one of the stable coins fail, for example, you’re not left with an empty bag like a lot of us were back when the bridge hacked happen, the Nomad bridge happened back in 2022. So if one of the tokens stable coins disappear, you don’t

46:27
have zero value, you only lose a portion of it. Same as an index works exactly the same way. So an index of stable coins. That probably makes more sense. Shout out for Fluxpoint Studio here with their game Tribe. I did an interview with Decimalists last year, I think it was, and I played the game for a couple of hours and I enjoyed it. It was a little bit lagging on my computer. My computer just does not have the resources for it. But I gave it a go and I thought it was pretty cool.

46:57
Jane, gave a big shout out for as well. Jane, the lawyer that is in the Cardano ecosystem. She does some brilliant work in a lot of good posts. So do follow her if you haven’t yet. I do follow her and check her posts regularly. And then we also have some various projects here. These are NFTs, SteelSwap. I haven’t mentioned. I should be following them. There we go. SteelSwap. They’re a really good Dex aggregator swap platform that charges

47:26
almost no fees. So you can use their platform, do a swap there and you you get some decent swaps because they charge no fees as opposed to Vetch or Dex Hunter where they do charge fees on top. But still tried out, still swap really good. Return a wallet. Yes, I’ve already mentioned them many, many times and we’ve sure Jason, you got a shout out there. Big blimp, no idea what these guys are.

47:54
Ah, right. Yeah. The part of the Yam for Obamir ecosystem. Very good. DD holders. Oh, yeah. I haven’t really talked about DD that much. Probably should look back into the DD ecosystem. What I got here. Splash protocol. Yep. Should jump into Splash and see what they’re doing too. And we’ve got a couple of shout outs for Constitution committee members, civic committee, et cetera. We’ve got

48:23
Gin Tama, I’m assuming he’s from India. We’ve got lots of people going up for intersect voting. I did talk about this on Monday’s video as well. So do check out that video. Then we’ve got some bunch of other updates here. So not too many more shout outs there, but do check out this particular post if you want to find out who is building and doing some cool things within the Kidano ecosystem. All right, that’s all I have for this particular update. Thank you so much for watching to the end here.

48:50
Apparently watching to the end works the YouTube algorithm as well, so if you get bored, just leave it playing in the background and that works the algorithm for whatever reason. I don’t get that. Leave a comment down below as well. Always love the comments. I try and reply to them as much as possible. I filter them a lot because of the spam, so if it doesn’t appear straight away, it will appear eventually when I go through the filters. And also, if you haven’t hit that thumbs up, make sure you hit the thumbs up, like, subscribe, notification bell. I’ll see you guys in the next video.