Latest Cardano ADA News Updates, 12th Aug 2024

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Lots of news updates to start off your week in the Cardano ecosystem and I’ve got a lot here so let’s get straight into it. Now the first one here is the Goat Stake Pool has retired. Now this is a really interesting one because Goat Stake Pool had a massive amount of stake and I just don’t understand the decision here. First off they had millions of pledge, so millions of ADA on each of these stake pools. They had three stake pools. So in general they should be making quite a bit of ADA in the background.

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that had a fairly high fee as well as a lot of active stake on their pool. So if you were delegating to any of these three state pools, you need to move your ADA now because they have officially retired and are no longer in operation. So if you’re delegated to any of those pools, you won’t be getting any of your rewards. So staking on Kandana is usually fairly passive. You can always just set and forget essentially.

00:56
but it’s a good idea to check in every once in a while, maybe every couple of weeks to see what your state pool is doing. Maybe they’re not performing too well, maybe they’ve missed a couple of blocks for a couple of epochs and it may be a misconfiguration issue or they have retired like Goat State Pool has in this case. So do check your state pool, find out what is happening there and make sure that they’re still meeting blocks and still operating in the Kedama ecosystem. So again, Goat State Pool, if you’re…

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delegated to any of these GOAT pools, GOAT 2 or GOAT 3, check your delegation, check your wallets and move off to another state pool that is still minting blocks and still operational. Follow them on social media. There’s some really cool tools. I use an app called PoolTool.io. You can set alerts in that so you can see what your state pool is doing, whether they change any of these fees or if their pledge changes or if their active state drops dramatically.

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Configuration updates to their pool and it will alert you with the notification and you can do something about it So that’s a really good tip for you guys out there This next news update here I did cover a couple of weeks ago when see swap decks launched silver on their NFT marketplace so you could trade that new real world asset of Silver on their decks and now they’ve launched Pokemon trading cards so I don’t understand the whole Pokemon trading card thing, but they’re

02:23
fairly valuable, a lot of these are. And they’ve now got these packs up there where the 80 evolving skies packs are available on their platform and you can buy them and have a token that represents that real world asset. Now the only thing that I have an issue with in regards to their platform and other people have bought up is that trust layer with the asset. How do we know that the asset is in the vault? It’s being held.

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and is being backed up is backing up the NFT that we’re purchasing. So there’s a couple of things there in terms of transparency which I have a little bit of a disconnect with maybe they’ve updated their docs or something and made it a little bit more transparent but to have that level of transparency and ensuring that the asset is actually there in a vault and being stored correctly so that my NFT does have that backed value is kind of crucial.

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So I’d love to see an update from the team in regards to that and see what else they bring out on chain in terms of real world assets on their platform. So awesome stuff. See you.

03:30
Now we’re seeing more and more Dex’s update and get ready for the Chang Hard Fork and NBX. That’s exchanged in, I think it’s Norway, it’s a Norwegian exchange that’s also partnered up with Moneta for distributing the USDM in Europe. So I’m pretty excited about that. They’re very proactive here. It looks like they’ve upgraded their nodes for Chang Hard Fork to node 9.1. So it’s super exciting to see.

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Now we also have various other DEXs, Bitmark and also blockchain.com also upgrade just before the weekend and before that we also had Bitfinex in play there and upgrade their node. So we’re getting to see more and more of the exchange liquidity ready for the Chang Hard Fork. If you want to be kept up to date with all of the exchanges, you can look at the Cardano Scan website and you can see all of the exchanges listed here. You can see the ones in progress and the ones that are already ready.

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upgraded for 9.1. This was a brilliant update from Begin Wallet and I love this one because they’re really really embracing open source and they’ve joined the Open Wallet Foundation. Now this is a Linux Foundation division and what they’re aiming to do here is to develop secure, interoperable and privacy preserving digital wallets and it leverages the open source collaboration to set universal standards ensuring that wallets are safe, accessible across various platforms.

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And of course this is the goal of all wallets and I think all Kadano wallets join foundations like this to try and strive for that high level of open source and collaborative development within the Web3 space. Now I did look into the Open Wallet Foundation to find out a little bit more about it. You can follow them on their socials here on Twitter on X.

05:17
But here at this the Open Wallet Foundation and you can have a look at some of these sponsors here and they’re some very big well-known names. We’ve got Accenture, Google, Visa, Gen, Web, Wei Technologies. But if you have a look down here a little bit further we have IMX. They’re a big player in the digital identity space on the Cardano ecosystem and expanding all over the place. So it’s good to see that IMX is there and of course they have that deep partnership with

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to bring in that digital identities to the begin wallet. So really good to see this type of collaboration and development in the space. Now this was a heavy hitting new story last week and the Pavia project, the Metaverse, the land plots, the 3D architectural 3D worlds project has officially ceased. Now it seems like they’ve run out of funding to continue any more development around this one. So it’s very disappointing to hear.

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I know a lot of people in the Cardano space have those land plots and have built up all these properties within their 3D metaverse. But if the team runs out of money, they can’t pay their developers to continue development of the project. So it’s really sad to see. There are rumors that there are some other people, prominent people in the Cardano ecosystem that may be looking into purchasing the project, but we shall see how that plays out.

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Now this brilliant post here by Service, which I do have a longer video that I’ll go through that breaks down this entire thread so you guys have a better understanding of what they’re doing here. They look at their risk rating system and see how Pavia compares to other platforms, other DEXs out there. In this case in this thread, Sunday Swap, how it compares that had very similar price discoveries but they had different levels of interaction with the Katana community going forth.

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all these factors come into play for the service risk rating system. So do check out that video when it comes out. Now this is an interesting news update from Novela with Sync AI. So it’s not a partnership, but a participation within their ITN and Sync AI. This is what they’re doing here. They’re advanced on-chain interactions network linking users, dApps and blockchains. What that means, I have absolutely no idea. And it’s something I have to dig in a little bit deeper to understand what Sync AI is.

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But it sounds like you can be a part of their network, their platform by running nodes, I’m assuming. And it seems that the Nuvilla team are participating in the ITN, the incentivized test net, to try and get some of those rewards. And of course, distribute it to their users as well, their NVL holders. So it’s nice to see that this is happening. So NVL holders that register for their ITN will receive a 2X boost in XP points. So it’s a boost amount of rewards that you can get. So that’s really good to see. So.

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They just like to note here, this is an official partnership. This is the first steps in opening a relationship with the Sync AI team. So we’ll see how this one plays out and I’ll do a little bit more of a bigger, bigger deep dive into Sync AI to find out exactly what they’re after. I’ll put links down below for Sync AI. So if you want to dig deeper yourself, you can. They’ve got a little opening intro video here and a white paper that talks a little bit more about the project. They are.

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building on Kadano as well. So it’s going to be an interesting one to look into. Now a lot of projects are heading over to Rare Evo and Mineta is one project that I met in Rare Evo in 2022. The years blend at the moment but I’m so jealous that I can’t catch up with the team or any other project that is going over to Rare Evo. Rare Evo is from the 15th

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to 17th of August this week and you should check out the lineup here. It’s absolutely insane. They even have Robert F. Kennedy Jr. as a speaker on there alongside Charles and all these other great fantastic speakers. Do check out their agenda overview. If you are going to the event, please don’t tag me in anything because I don’t want to know what I’m missing out on. I’ll catch up on it another time, not while you’re all having an awesome time in Vegas.

09:24
Now this is a great update from the LACE wallet team and they are ready for Codano governance and the future of Codano in general and you can use the LACE wallet on the preview GovTools network. So the preview network is one of the test nets for Codano and they’re all ready. The hard fork had happened on the preview network so you can check out the GovTools here. This is the GovTools website. So preview.govtools.

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And this will allow you to register as a D rep. It will let you delegate your voting power to a D rep as well, that one that has already registered. And you can do it all through LACE Wallet, which is really easy to use, like Wallet. I absolutely love what the team have built with LACE. Now, the only thing that you need to do here is actually change the network. You can see, you click on Network here, change it to Preview. And then you’ll be able to try out some of these.

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Governance features within the Cardano ecosystem. So change your wallet to preview, give it a test and see what it’s like. Soon will we be forking on the pre-pride network and then mainnet when the whole chain hard fork happens and it’s awesome to see that lace wallets ready. I’ve been using with Eternal and I’ve been using Eternal on SantroNet, which is the test net before preview specifically for governance. So it’s good to see that all these projects are out there.

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all upgrading and ready for Cardano governance. Now speaking of wallets, Keystone is a hardware wallet that I absolutely love. If you want to support the channel, check out the links down below. I’ve got links in the show notes down below that will take you to an affiliate link for Keystone. So if you haven’t got one of these Keystone wallets, this is what it essentially looks like here. Sorry about all the noise. This is my Keystone wallet, it’s a hardware wallet. It’s

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air-gapped and I love that you don’t need to plug it into anything and you use these QR codes here like you can see in this screenshot here with Vespa wallet to connect it and then you have that hardware wallet connection and any transaction that you do you have to scan these QR codes and that transmits the transaction data in between the devices and authorizes transaction so it’s absolutely brilliant. I can’t wait for them to enable this for state pool

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because we have to sign our keys every now and then on our state pools and we have air gapped machines for this and having an air gapped wallet just increases that level of security. So this is a brilliant wallet. Like I said, if you want to support the channel, check out the affiliate link down below and get yourself a Keystone hardware wallet. Absolutely fantastic wallet. Now this is a pretty exciting story and this is Genius Yield launching their Trading Bot Leaderboard. And you can check out all of these.

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trading strategies that people have set up using their trading bots on Genius Yield. It’s really quick and easy to do. They’ve got a full medium post here about it as well but you can register your trading bot within a few clicks, monitor your metrics, your ROI and how much the bot has earned. Now I did check out the website, this is it here and you can see the leaderboard. Check this out like 76% ROI.

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Of course, it’s only been live for seven and a half minutes and they’ve only done one trade from what it looks like with a small amount. So, you know, if you made a decent amount of return on one trade, of course, it’s gonna have this big ROI. If you have a look at some of these older bots that have been around for a little bit longer, let’s go here, 17 days, not so good there, but we can see here now that we’re going to have a lot more automated trades.

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within the Kidano ecosystem. So this is something that’s very exciting because you look at some other blockchains such as Solana, I know, I know Solana, but they have a mass amount of automated trades there with trading bots. And that pumps up a lot of the volume because the trades are just being fired off every few seconds and has that massive amount of volume because of it.

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Now with this type of trading, we will be able to mimic some of those type of trades and use genius yield, which is very, very cheap in regards to how it is structured. So you’re not paying batcher fees or anything like that. So the trades are very cheap in comparison to AMM DEXs on Cardano that uses batchers and groups those transactions together. So it’s going to be an interesting one. I will be playing around with this a lot more.

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and give you an update on how my trading is going with automated bot trading on genius yield. I’ll keep you up to date. Make sure you hit that like, subscribe, notification bell to be kept up to date with that. Now this one here is really exciting and this is Dex Hunter integrating in a new fires metamask snap for Cardano. Lot of big words there Pete. What on earth does that mean? This is the integration of Cardano to.

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MetaMask. Now, New5 been working on this for a while and now we can see it in action. I did a video about this a couple of weeks back when they were doing their social account single sign-on and I mentioned the snap as well. Now, we don’t have, I haven’t seen the official snap on the MetaMask website itself yet but projects are integrating this in. Dex Hunter is one project that has the MetaMask snap integrated.

14:49
We also have it integrated on the Wi-Fi website as well. So you can see here, I don’t have Metamask installed on this particular browser, but you can click on install Metamask, get yourself set up if you don’t already. But this, the idea and premise of this is that it makes it easier for anyone that has a Metamask wallet yet, but doesn’t have a Kadano wallet to easily set themselves up and start trading on Kadano. And I gave this a full…

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full breakdown, a full go. I’ve got another video coming out about this as well where I try and set up the entire process and then start trading on my MetaMask wallet directly. Now SynthLover from Mint here breaks this down quite nicely and I love the questioning here. Will MetaMask support for Kadano lead to more adoption? Now on one side of the coin, his argument, there is a very low

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and a lot of the modern Kadano wallets are fast and period to Metamask and what else is out there. If you download Tokyo Pay, Vespa, Begin Wallet, the setup process is super fast. Especially Tokyo Pay, they don’t even force you to go through that seed phrase process. You just set up your wallet and then you can get some ADA directly from Onramp, directly built into the wallet with Coinbase. So it’s really easy to get up and running on that one.

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So we’ve got that really easy low friction point on the Kidano side. But on the other hand, we have Metamask that already has a lot of adoption. And when I mean a lot, if you have a look at how many times the the Google Chrome Metamask extensions has been downloaded, it’s about 16 million. That’s a lot of users using Metamask. So we have that level of adoption with Metamask and then adding in this Metamask snap.

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One wallet that users can use, one wallet that they’re already used to and already have a seed phrase for, makes it easy for them to onboard onto Cardano. We shall see how this one plays out. We have this integrated in on the biggest Dex aggregator on Cardano at the moment with Dex Hunter, so we’ll see how many more people join up and create brand new wallets through Cardano via MetaMask. This is super exciting. This is one metric that I’d love to have some data about.

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I guess the new fire team would have some stats and data about how many downloads, how many integrations have been done with that MetaMask snap. So I’d love to follow up with the team there to find out a little bit more about that one and see how that one is going. Now Paul from Cardano with Paul has also done a breakdown of the MetaMask on Cardano on Ada Markets. So Ada Markets is the Dex aggregator that they’re built over there. So Paul and Patty have been doing an amazing job. I think Dave Beaumont and also is part of the team.

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So they’ve been doing an amazing job with ADA markets as well, keeping up with all these innovations out there. And of course, Newphi’s Metamask snap here for Kudano. So do check out that video. Links down below for you guys. Now, Butane is a project that I’ve been watching closely. Now, the team, Micah and Jay, I met them in Sydney and they’re a really smart team. Young, young guys, but like super intelligent and know exactly what they’re doing in terms of Kudano development. Now,

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They have completed their audit, which is a huge milestone for their project. They’ve integrated in some new transaction builders with Blaze, their replacement for the Katana Serialization Library in Lucid. And now they’ve completed their audit. I think it was TX Pipe that did that. Yep, TX Pipe.

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And now we’re at the point where they could be launching any time very soon. If you haven’t seen the previous videos I did about butane and their integrations and how they can compose transactions and then, uh, you can create like a synthetic asset on their platform and then trade it directly on Sunday swap in one single transaction. It’s amazing. The level of composability and what they’re doing there is absolutely awesome. So do check out that video again, links down below for you guys.

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Another Australian project I mentioned Synth Lovers Post before from Mint, but last week’s market crash. Now, I didn’t do a video last week. I was taking a video. I was taking a week off, not a video off, but I was taking a week off and I didn’t produce any videos. And I’m kind of glad I took that week off because I kind of saw the news about the market crashing. And then when I came back, the markets were kind of back to normal. So no stress on my behalf. But the…

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A lot of traders out there were doing trades and trying to get their ADA or their other tokens off where their current position is over to a stablecoin. And some of the stablecoins weren’t quite being paid one to one for a US dollar. They were dropping below, which is not a trader’s desired position. But one stablecoin that was doing really well was Mint. Mint was doing a fantastic job. There was a lot of volatility in the market here. You can see the volatility index.

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Look at that, that’s absolutely insane. I haven’t seen that in a very long time since I think before COVID. And now we can see here the Synth stablecoin kept that peg over that period of time. So we’ve got a battle tested stablecoin here. We also had some other ones like such as Jed. Jed did phenomenally well within the market crash as well. So you can check out that data. I’ll put a couple of links down below for you guys.

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And I do have a bigger video about Mint and their stablecoin as well and their entire platform. They’re doing some amazing things here. The Stripe finance team have launched their beta. This is pretty cool because we have another platform out there where you can do puts and calls trading on Cardano. So this is a derivatives platform. It does the perpetuals out there as well. So this is something also that you see a lot in the polygon ecosystems, other DeFi spaces.

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And we’re finally getting this in Cardano as well. I did a little bit more of a breakdown of Strike Finance in my other video. I’ll put links down below for you guys, but I’ll be doing a bigger deep dive on Strike and also Option Flow so you can understand how this type of trading works with puts and calls and perpetuals in the Cardano ecosystem. Now the Joiz platform, this is pretty cool because they’re building on CardanoPress and they’re doing some really cool things here, but they’re mimicking some other features.

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and some other applications on other ecosystems. This one is sole chat on Solana and Joiz is the Cardano equivalent where you can do Web 3 calls through their app, through their web browser app. And you can do this without the need of a mobile phone, phone number, I should say, or any identifying assets. And I think that’s the key here. That’s the key differentiator between

21:59
This, Joiz, which is very similar to like Telegram or Signal or any of those apps where you can communicate to other people. The main difference here is that you don’t need a phone number. So Telegram, you need to register with a phone number, a mobile, a cell, whatever you wanna call it. Same with Signal, you need that cell number and that’s your identifier for the application. In this case, you just need a Kedino wallet with the Joys token in it. So you can set yourself up a brand new Cardano wallet.

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add in that token and then start making web3 calls to other people completely anonymously. So I think that’s the major thing that is different about Joys compared to existing applications out there. So if you want that anonymity within a web3 messaging app with calls, this is something to check out. So I think it’s pretty cool. I really like what the team are doing here. Now the last one I will leave you here is, and this is a really weird.

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bed design. This has got nothing to do with Cardano, but I’ll just play this one here. So in a building collapse, you can have this crazy bed that will collapse in on itself, protect you from a building collapse, and then have you has all these supplies in it. So if you’re one of those preppers that would love to prepare themselves for a building collapse of some sort, a fire, whatever it might be, you can have a steel framed coffin, essentially.

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with all these supplies built in there. So if the building collapses, you’re protected, you’re safe in that steel cage, safe with all of these supplies in there with you as well. So interesting, not for anyone that is claustrophobic, I think, especially if you’re in a falling collapsing building and then in a coffin as well. Anyway.

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Leave your comment down below. Let me know what you think about all these news updates that I have put out this week. If you have something that is of interest that I’ve missed out, leave a comment down below. And would you get this Prepper Coffin? Interesting product. Anyway, love you guys. Thank you for tuning in. If you made it this far, you might as well hit that like, subscribe, notification bell, and thank you so much for becoming a channel member. You guys really, really support the work that I do here. Absolutely love you guys. And with that,

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I’ll see you in the next video.