Gemini Listing, Minswap Ditches Batcher Fees, Cardano News Update, March 5th

00:00
All right, another Cardano news update for you. This first news story here I thought was quite interesting. And this is about Gemini, one of the largest exchanges out there or custodial services, I should say, that hasn’t listed ADA yet. And now they’re considering it to be listed in Gemini. And this is something that Charles has been battling with for, I don’t know how long since I’ve been around this space 2017.

00:27
I think Charles has been chiming in and asking why Gemini hasn’t included ADA in their product offerings. But it seems like Gemini now will be looking into it at least. It seems like here Tyler Vinklevoss said, I do think it is viable for listing on Gemini. We will look into this. Hopefully they do. Now I didn’t realize how big of a deal listing with Gemini was. And if you aren’t familiar with Gemini like I wasn’t.

00:57
never really looked into any of their services. They are a massive custodian and exchange for institutional investors and things like banks. So if you have a look at their website here and look under institutions, they have product offerings from exchanges, custody services, eOTC and staking. But the clients that they serve are businesses, private wealth,

01:27
professional traders, institutional investors, fintech and banks and Bitcoin miners. These are the big holders. These are the big players in the space. And the banks reminded me of something that happened back in 2021. And this was with ComBank or Commonwealth Bank of Australia. And this brings things home and more relatable to why this is so important. And back in 2021, CommBank or CBA, it’s put forward a

01:55
this press release here saying that they were partnering up with Gemini and Chainalysis to do a big exchange and have crypto as an offering within the CBA app or a new app that they were building. And this would have been absolutely huge. They didn’t go ahead with this, but this would have been huge for crypto in Australia and they would have had to partner up with Gemini.

02:24
and chain analysis to do something like this because they didn’t have the custodial services to securely hold all of those assets for the various users. But of course, if they launched this back in 2021, it wouldn’t have included ADA and institutional investors here in Australia would have missed out on nabbing into any of the ADA assets. Now how big is ComBank? Let me show you for my US and European viewers here.

02:54
CBA here in Australia holds $1.12 trillion worth of property assets. So it’s one of the big four. It’s the biggest of the big four banks in Australia. You commonly hear this term here, big four banks, the big four in Australia and their market cap is $261 billion. So it’s a sizeable bank and for comparison in the United States, the US has lots of big players.

03:22
But there’s a lot of fragmented banks. There’s a lot of smaller banks in every state and it doesn’t compare to some of these big Australian banks here, which pretty much covers the entire population and every aspect of Australian lives. I was with ComBank when I was starting school, they would set up a dollar my account for you. So those, those people out there that know what dollar my accounts are, they’re a banking out for kids.

03:52
where you can start saving and they get you into the idea of saving and putting money into ComBank. So they got us all at a very young age. So this is a big deal to get Gemini listing ADA because it can get back to things like this. These really big institutional players offering crypto assets to their customers. So I’ll be ecstatic to see Gemini have this type of offering with ADA.

04:19
and then partnering up again with banks in Australia or anywhere else in the world to give that type of offering and exposure to those crypto assets. So fingers crossed, we do see this actually happen. It’s all just talk at the moment, but we may very well see this coming to play later this year. And of course, hopefully we do also see more institutions around the world pick this up as well. So we’ve got the crypto strategic.

04:48
strategic crypto reserve. It’s, it’s something in that combination of three words, but we have that coming into play with the top five assets there. And who knows with Gemini having their custodial services and offering it to institutional investors and banks and whatnot, we may see this come back again within Australia and other banks around the world. So fingers crossed, this is what I want to see. And this is why Gemini is such a big.

05:16
Now this I thought was quite an interesting post and Paul Gruwell, he is the chief legal officer at Coinbase and obviously in ETH Maxi with this ETH handle here, but he wasn’t aware of projects like Stuff.io or Book.io. If you’re in the Cardanoa space, you’re very well aware of this. I’ve been a big fan of Book.io for a very long time, even before they launched and to

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big backing and all the content from Ingram content, which provide and publish so many books around the world, to have that type of leverage and put in the door within the industry makes Book.io really appealing. And I think the community really jumped on the post here and really told and really, really pushed what Stuff.io are doing. Now for something

06:13
I thought was really interesting. And this I missed last week. I was away overseas and this was really interesting that came out of book.io. And this is their publisher portal. I put this post out the other day asking, you know, what projects should I be looking at at the moment? There’s a lot happening in the Cardano space. And book.io, stuff.io released their publisher portal or the creator portal. I should be correct with terminology there.

06:42
But they put this out, this is really cool. So now with this creator portal here, you can go in and set and sell your digital assets through their platform without needing to engage with the team there. So this is a self-minting portal and you can start publishing, start selling your digital assets through their network really quickly and easily by going through these steps here. The first off, prepare your digital media, whether it’s an ebook or ebook music file,

07:12
have some cover art image, a lot of people just use AI, so that’s really easy to create too. And then you can start creating your digital asset through their platform. Enter the digital assets details, upload your media files, read carefully once minted, asset cannot change, pay for the creation of your digital asset with the stuff token. So if you’re around with the stuff token ICO.

07:36
You would have received some of this and I was a participant of that. So now I have utility for this stuff token. I can actually use it to publish some things on their portal. And then you can start promoting and pushing out your work on social media. Engage with audience and generate excitement. Receive the link to your mint at least 72 hours before launch. Royalty is be automatically sent to your wallet. Really easy stuff. This, this is, you know, it just makes publishing digital assets

08:06
really easy and you know, I love this. And if you have a look at their store, you can see what other people are selling at the moment. So it’s mostly digital books and there’s audio books in here as well. Now, this is a collection of not collection, but this is everything that’s selling at the moment. There’s a lot of things on here going. I believe there’s lots of filters here that you can go through and they minting a multi-chain as well. So it’s not just the Dano.

08:34
If you’re wanting assets on base, algorithm, Ethereum or Polygon, they’re all there. You can mint on any of these chains and engage with the community. There, so this is really good. They’ve gotten to the point where we can now self publish and I will be playing around with the platform and I’ll try and do a big overview of this tutorial on how to mint and publish on stuff.io and I will publish it through their power.

09:02
platforms. I’ll do something really cheap. Maybe I’ll do a little bit of minting on each one of the chains or something. I’ll play around with it. I’ll see what I can actually do. But you know, I might as well try and put it on their platform and see how it all works. Put it to the test and see if I can raise some funds or you know, sell some assets on their platform. So this would be really cool guys. Do check out, keep your eye out for that particular tutorial.

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the video that I’ll be using to cover all this. Now from the platform itself, it said that video isn’t quite ready yet. So video here coming soon, podcasts coming soon. They’re the ones that I’m most interested in, but we’ve got the ebook, audiobook, music single and music album all there already. You can see the fees here, 40 USD paid in stuff tokens, 30 USD for the audiobook, 15 per music single and 44 for music album. That’s just to mint it.

10:00
I don’t know how much it costs to actually mint it through a regular publisher, but I’m assuming it’s a lot more than this and the publisher will take royalties as well. So there’s a lot of costs involved in those and this is a really cost effective way to get your stuff out there. So do check this out if you are a creator in the blockchain space or just a creator in general. I think this is a really good alternative. Now this is a follow on from that strategic crypto reserve.

10:29
It’s so, so alarming, I think, to see all this FUD continuously going out around Cardano. And it really is coming down to that initial perceived bias that a lot of people have on Cardano. From years ago when Cardano was just a staking chain, it didn’t have smart contracts. That’s the bias that people have.

10:59
It’s a psychological condition that people can’t shake and change easily to change that bias, that initial impression bias. There’s a scientific term for I’m getting it wrong. But to change that takes a lot of effort. And because of that initial bias that people have, it isn’t doing too well in regards to people’s reception that it is being a part of that strategic reserve.

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And we can see this person here. This was a audio podcast from a crypto coin desk, I should say, the markets daily. And it says here, this is, this is really strange. And if anyone just did a little bit of research, a quick Google, just to check what they were going to say on a podcast. So let me read this for you. So I get it correct. But I think a longstanding debate, nothing to have new. It is very interesting for me because first of all, I’ve never seen it as a US company.

11:57
because as much as I understand the founders Canadian, that’s interesting, lives in Canada, which you can also may talk about Ethereum, but there are multiple founders and they have built a lot, a huge community in the US. I personally am not aware about that about Cardano, but also have not really seen any projects coming out of Cardano, a huge community or even at conferences. Okay. So a lot of things to correct here. Cardano, massive community.

12:28
I think a lot of us are in the closet. A lot of people are afraid to step out and say, hey, I’m an ADA holder because of the ridicule that they get or the mockery that comes out of it. And this all comes to that preconceived bias that a lot of people have. And conferences, I think it’s really important that anyone that is an ADA holder go to the really big mixed blockchain conferences, such as Consensus, Token 2049,

12:54
and all those other really big ones out there. We need to get out there. We need to really push for the Cardano Foundation, the other IOG and Mergo to really have events at these particular blockchain conferences, because these are the ones where everyone’s at. So this is where we need to be. And the other thing here, Cardano, haven’t seen any projects coming out.

13:20
These VCs aren’t even looking at Cardano as a viable option. And it’s really disappointing. But please, please tell, go to, when you go to these things, wear your Cardano shirts proudly and talk about what is actually happening in the space. Cause a lot of people have no idea. I hear this all the time and we have to change this. We have to get out of our little crypto bubble. Stop going to not stop going to, but go to the Cardano summit, go to rare Evo, but also

13:48
expand beyond those borders. I did this by going to WordCamp Asia, completely out of the box, completely different conference, not even in crypto space, it’s about WordPress development. And I was there talking about Cardano and what you can do with integrating WordPress with Cardano, so a completely different audience, but I reached many new people. And I think I converted a lot of people to Cardano as well. So hopefully that really works. And this is what we all really need to do.

14:19
The other thing here about Charles not being a US citizen or a Canadian here, this is really weird because every video that Charles starts with is always, hi, I’m Charles Hosneson coming from you live at sunny, from sunny Colorado. So, you know, it’s, it’s ingrained in every single video there. He is definitely from the US, living in Colorado and also has a ranch in Wyoming. That’s a huge Bison ranch.

14:48
We’ve seen him make beer there as well in various videos. So it’s definitely in the US, the IG is a US based company as well. And of course they’re the ones that are building the core software for the Cardano node. So yeah, you know, we can say it’s completely decentralized. Yeah. But you know, at the moment, at this point in time, IG is building the Cardano node and they’re controlling that little piece of software. Of course the community can say, Hey, we have, you know, opinions and

15:18
and sort of steering the direction of the node. And we have some level decentralization there, but still IG are the main players in building that software at this point in time. So yeah, we can say it’s a US company in this respect. So this weird, weird comment here, I don’t know where it came from, but we need to change people’s perspective and we have to do it with education and keep on talking to people.

15:45
and getting out there and changing their perspectives that first initial bias that people have on various things such as Kidani. We get to get out there and change it guys. Now I thought this was a really big win for the crypto industry here. And last year in 2024, the IRS were trying to enforce the reporting of transactions for DeFi users.

16:12
So anyone using a decentralized exchange such as a min swap or or uni swap, for example, would have to collect the user data and then provide that data and trading information to the IRS so that they could tax it. But this has been overturned and the US administration is supporting this overturning of the IRS rule that would have forced the five protocols and self custody wallets.

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report user transactions and this was absolutely ridiculous. The whole point of this is that we can have some level of decentralization and trade away from the eyes of the IRS. Of course, when we move off the decentralized exchanges to banking out to whatever, we start reporting capital gains and all sorts of other things. I’ll talk about that in a moment, too. But this has now been officially overturned.

17:08
This is really good news for the crypto industry in general. So the administration strongly supports the passage of SJRES3, a joint resolution providing for congressional disapproval of the rule submitted by the Internal Revenue Service on December 30, 2024 relating to the gross proceedings reporting by brokers that regularly provide services effectuating digital asset sales. So overturned for now. So this is a really big win.

17:36
Thank you so much for getting that overturned. I think a lot of people in the US would be quite happy about that. And anyone that uses a decentralized exchange doesn’t have to worry about providing their personal data to all these exchanges. Would have been a massive cost for the Dex’s out there. They would have had to start interacting with these identity services to verify who you are, et cetera, but that’s all out of the picture now and we don’t need to worry about that. So that’s a big.

18:06
win for the DeFi industry in general. Now, the other thing I mentioned, mentioned a capital gains tax here. And this is something else that we’re looking for at the moment. This is something we’re waiting for. And this will, I think, really spur on a lot more investment in the crypto space, because if you can get rid of capital gains tax, it’s a big jump for investment in general.

18:30
And this is something that Trump is also looking into and it’s the cutting of the capital gains tax. There’s capital gains on the federal and the state level in the US. I’m hoping this has some sort of impact globally and we’ll see some reduction of capital gains here in Australia and other parts of the world as well. Because it makes it makes a huge makes it creates huge opportunities here because we don’t need to pay that extra tax for the gains that we get. So this here.

19:00
The capital gains tax is destructive by lowering the rewards of successful risk taking. Essential to innovation and higher standard of living, capital gains tax needlessly hobbles progress. I completely agree with this. It’s one of those taxes that really surprised me when I started trading. It was like what have to pay capital gains on every single trade? This is ridiculous. This is why President Trump and his tax running team should include a sizable reduction in the capital gains levy in the bill.

19:30
they’re cobbling together with various members of Congress. Such a cut would not only help the economy, but also instantaneously raise revenue for Uncle Sam. So we are watching this space in regards to the capital gains tax. Hopefully it does get reduced. We are starting to see it have some sort of impact here. This is from the Columbia Missourian. So I think this only applies to Missouri at the moment.

19:56
effort to drop capital gains tax quickly passes by Senate committee. Jefferson City here. A bill that would eliminate state tax on capital gains was heard and quickly passed Tuesday by Senate General Laws Committee. Both bills allow a taxpayer to deduct 100% of all income reported as capital gains for federal tax purposes. So hopefully we do see more states take this up. This deduction of 100% on all income reported.

20:26
is very good for tax reporting purposes. So this nice deduction here, hopefully you will see in many other states and a lot of people start benefiting and being more encouraged to invest in, whether it’s stocks, whether it’s companies, whether it’s crypto assets, whatever it might be. This opens up a lot of opportunities for people to not worry about those capital gains. And I’ve heard in other parts of the world, in other states, they’re looking at taxing unrealized capital gains.

20:56
So this is taxing gains on assets that have increased over time, but you haven’t sold yet. So you haven’t actually gained those those profits, but they’re wanting to tax you on that. And then the next year it may drop down to nothing and you still get taxed along the way. This is the ridiculousness of things. They’re looking for different ways. The government is looking for different ways to tax your income. And this here is definitely a good step forward.

21:26
Hopefully we do see more states in the US take this stance and hopefully we see that it kind of snowball and echo around the world as well. Now coming back to Cardano related things, this rewards calculator that the Cardano Foundation put out is absolutely fantastic. Entertainment here put out this post highlighting the three pools here that is looking into to see which pool is better.

21:54
And I thought it was really cool. This is a really nice way to visually see and compare it between different state pools, what type of return you would get from each one of those pools. So I had to play around with this myself. And it is a really nice and snappy little thing to play around with. So first off, you enter in how much ADA, enter the amount of ADA you like to stake. So let’s go, yeah, stick with that 10,000 ADA. Then you can start choosing your pools.

22:24
So there’s of course, lots of pools to choose from. You can click on any of these here and just go through the list. There’s a lot of pools. There’s like 3000 or so pools, but I’m going to pick on some here. I’m going to type in my own as you do, eight Oz and try to think of another one here. I’m going to pick on Linda’s pool, MALU, MALU. And what’s another one?

22:51
So this is one of the pools that is a part of the CardanoPress initiative pools. So they’ve been a supporter of us and they use CardanoPress as well. So I’m going to pull up that one. So we have three different types of pools here. We have a very large pool, which is mine. We have Malu, which is a mid-level pool. And then we have Graham Norns Plus, which is one of the small pools out there. And we can see the average returns, the lower, the upper returns that we get from each one of these pools. And we can see.

23:21
The upper returns are fairly okay. They’re very similar. My pool’s a little bit higher. It’s been up for a long time, so it has that nice average. And then we have the middle size pool, which is what you can expect. But the main differences here that you want to look into is how the margin and the min fee on each one of these pools may affect the actual stake pool itself. So I’ve got this 1% with a min fee of 340. We’ve got the

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3% here on MALU with the 340 and then we have zero margin and the min fee of 120. Whoops, did I change that there? Let me just change that back. There we go. That’s better. So we’ve got the zero fee there and the 120. So if we could actually change some of these parameters, such as the min fee of one, 170 here down to zero, it could potentially give these smaller pools.

24:16
more of an advantage or level the playing field with some of the bigger pools such as my own here. So this may be a really good way to compare the pools and actually see how the parameters may change certain things within the ecosystem and make small pools more competitive with the larger pools. So this is quite a good calculator to see and visually see what type of returns are coming out. So the main thing that delegates

24:45
want, stakers want, is a higher return. So you want your average return here to be as high as possible. And at the moment, the average turn on staking is quite low in the ADA ecosystem. But this is, with more inflation, more ADA going to the ecosystem, it starts to get low and lower. This is expected. But this is what we’re seeing at the moment. Now, the other cool things that we can play around here is actually the parameters.

25:12
So we can change this. Let me just change this to zero. And there we go. We can actually see that change right away with GNP1. I changed that to fix pool cost to zero and we can see the average returns on that particular pool change quite dramatically and is now better than my pool here. So the average and the upper is better if we can actually get rid of that min, that fix pool, pool fixed cost.

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So this is something I think we need to look into again. And if we can change these particular parameters, pools such as GNP1 will become a lot more competitive. And I think it will be a lot better for decentralization within the Cardano ecosystem. So this is something pretty cool to see. And thank you so much for the Cardano Foundation for putting together this calculator. I’ll put links down below, but you can get to it at Cardano.org slash calculator.

26:11
Now this is a big shout out for Begin Wallet. Begin Wallet is one of those mobile wallets out there that are continuously innovating. They’re always adding in really cool features into their wallet. And this one here I thought was great. And I share the same sentiment as Patrick here. I used to travel a lot. I used to travel to a different country every single month. And here, to get an eSIM,

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and a data plan in each one of these countries would be a godsend. And here we got, you know, a seven day unlimited 36 ADA. And you can use your Begin Wallet and get an eSIM and set yourself up with a data plan in any country that you might be traveling to. It is such a cool feature. It’s powered by Holafly. I saw ads for Holafly when I was traveling around recently, and I thought it was a really cool service.

27:02
So they did the integration in there. So it allows you to pay with ADA. So if you have ADA in your Begin Wallet, you can just load up and get an eSIM and hey presto. There you go. You got a data plan valid for however long you want. I don’t know how much data you get out of it, but I’m sure you can see that within the details when you’re signing up. But this is absolutely brilliant. It gives you utility to ADA. It gives the Begin Wallet really cool feature in there as well. So if you are

27:32
a traveler, get begin wallet, install that, load it up with some Ada and get yourself an eSIM as you start traveling around the world. These data plans from Holofly are absolutely brilliant, really cost effective way to get data on the move. So awesome stuff, begin wallet. Now another wallet that has been continuously building out there is Eternal. Now Eternal is, I have to say my favorite wallet out there. I use desktop the most.

28:00
for any of my crypto stuff and eternal wallet have a fantastic wallet that has all the bells and whistles has everything I need and more and stuff I don’t need but their brand new interface has been released.

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This is all in beta at the moment, so you can get to it at beta.eternal, but they’ll be releasing this one very soon. Here’s some screenshots anyway that you can see, and it is a mammoth, huge change from what they were before. It’s a much more user-friendly interface, a much more friendly design. The way they’ve positioned everything, the way they’re designed everything, the way their interactions and everything is just so much better.

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If you are wanting to try this out again, links down below, but go to beta.eternal.io and you’ll be able to get to this version of the wallet. Connect up a test net wallet or create a new test wallet here. All of this is test addresses here so you can try it out and see what you think. Because there’s a lot of cool stuff that they’ve put in here and the UI and user experience is just so much better. So big.

29:16
Big congrats to the Eternal team for getting to this point. I’ve been, I seriously have been holding out and doing any tutorials on Eternal because I knew I would have had to redo all of them because of this design that was coming. But thankfully they have now put this out and I can start doing video tutorials about this. So you can subscribe to my other channel and you’ll get up to date video tutorials about Eternal Wallet and how to use it and how to get the most out of it as well. So really, really cool stuff.

29:43
Now if you are in the Cardano space and you’re trading and you’re looking for various tokens out there, there’s no better place to trade them than on Minswap at the moment. Now one of the big things that’s been happening in the space is the complaining about the various fees. If you are trading on Cardano, there are various fees that you have to pay for and one of them is a Batcher fee. Batchers are out there to collate all the transactions that are being submitted on chain.

30:14
and then it processes them in the background off chain. And this is a way to get around congestion within the networks and it processes them in the background and gets them on chain for you. So usually this is really quick and you barely even know it’s happening. But to do so in the early days, this would cost you two ADA. They charged two ADA because they were running infrastructure to do all this batching of the transactions. You know, and this added up. If you’re doing

30:43
Lots of transactions a day if you’re trying to do micro transactions or even arbitrage, you’re moving assets all over the place and you know, it’s going to cost you a lot. So this two ADA on batcher fees really adds up over time. But thankfully they’ve listened to the community and went, hey, let’s do something about this. They’ve now reduced these fees to zero. So now no fees for any of these particular transactions. So does this mean no more batcher fees?

31:11
Yes, it does mean no more batch of fees. This is absolutely incredible. Thank you, Minswap for making this a feature on their decks. There’s a big feature now because other decks is out there. Our Audible coins don’t have any batch of fees, but now the big decks is out there such as Minswap that do use batches now also don’t have fees. So now they’re competitive against these Audible decks is out there such as Genius Yield.

31:38
So what are we going to see? Well, hopefully we may see other decks such as Sunday swap change. We may see wing riders change as well, and also via fi. So these are the other big decks out there that use batches. And hopefully we do see that fee get reduced down to, you know, half an ater that’d be nice or even zero to match what means what we’re doing. The only thing I’m worried about here is that it’s a race to the bottom. It does cost money to run this infrastructure.

32:08
To run the batches, you’re basically running a Cardano node, and you’re passing the transactions through it. If you are wanting a lot of volume, and you’re wanting to handle all those transactions, you really need to be able to pay for these particular nodes, and you need a lot of these nodes to process these particular transactions. So maybe they’ve worked out a way to make this more optimized, and they can do it in a better way. Maybe they have, but as long as they can keep this

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zero fee Batcher process sustainable over a long time then I have no qualms about it. I have no issues whatsoever. So hopefully they can make this sustainable but we’ll see over time. Hopefully this is a permanent fixture and we do see zero Batcha fees but awesome stuff here Minswap. Obviously the number one decks out there in the ecosystem absolutely love what Minswap do. All right guys that’s it for another episode of the Learn Kedana Podcast. Now if you are wanting a D-Rep to delegate to

33:05
You got some DRep IDs here. These are my D-Rep IDs. I’ve been in the Cardano space for over four years since I started my state pool essentially. And if you’re wanting someone to delegate to and keep you guys up to date and vote on your behalf, you can delegate your ADA to these particular IDs depending on where you’re delegating here, but you should be able to use this one here, the SIP-1051, just use that ID or search for my name on GovTools and you’ll be able to delegate to me directly.

33:35
If you just want to delegate your ADA, try out ADAOZ. This is my pool ID here. You can stake your ADA. This will teach you how to actually stake it and delegate your ADA. You can click on this and connect your wallet and connect your wallet here, whatever you might be using. Delegate directly via my website as well. This is using the awesome CardanoPress plugin, which makes all this possible. So anyway, guys, if you want to support the channel, hit that like, subscribe.

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notification bell on your way out, delegate to my state pool or delegate to me as a D rep. I’ll help guide you guys through the Cardano space and keep you up to date with everything that’s happening. So, alright, now until the next video, I’ll see you then.