Latest Cardano ADA News Updates, 21st Feb 2024

Episode by Peter Bui on February 21st, 2024

Latest Cardano ADA news update. News and updates from the Cardano ecosystem.

Watch Out for Scams

Check out the Sundae V3 Whitepaper

Jam Pack Cardano Transactions

Iagon Storage Providers Increasing

$PALM Token IDO is Coming

Check out the Interview About TMinus One Launchpad

Thank You to All Our Channel Members

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Splash Is Coming

MuesliSwap Moving to Full DAO

Book.io Gute Airdrop and ISPO

Keep up to date with the latest updates from the Book.io stake pool.

NuFi Integrate DexHunter

Learn Cardano Integrates DexHunter

Fund 11 Kick-Off

Paima Studios Tarochi Launch

Play the Tarochi blockchain powered game from Paima Studios.

Tarochi Stats Since Launch

Looking for GameFi Advice on Cardano

Conversation with Jarek Hirniak from Axo and Charles Hoskinson

Butane Token IDO this Friday

Text Transcript

00:00
Another Cardano News update for you guys. This week I have a whole bunch of IDO updates. So there are a couple of projects that are launching their tokens and have IDOs coming out really soon. So something to keep an eye out on and also brand new ISPO as well. So one of those staples that you can delegate to to earn some brand new ecosystem tokens. More details coming right up. But first off.

00:22
Scams, we have more of these scams and this is evolving. So this scammer that has been putting out all these particular scam tokens for people are now targeting stake pools. So if you’re delegated to a popular stake pool in the Cardano ecosystem, you may be receiving one of these. This is a scam. Please do not interact with this website. You will lose your assets. Please don’t interact with them. And to just, just to show you how prolific this is getting, this is my collection

00:52
Now the scammer would have had to send me one ADA for each one of these scam tokens to airdrop it into my wallet. So thank you for all of the little bits of ADA that you’ve been giving away. But that’s probably ADA that’s been stolen from other users that have fallen for these scams so please be aware of these and don’t interact with the websites that you see within the NFT itself. If you are unsure about anything, go to the actual project’s homepage, go to their Discord

01:21
have a chat to the team and other people and they’ll let you know that it’s a scam. Although these projects are not doing any sorts of air drops or anything like this. So be mindful of this. There are lots of scams going around. Now Valentine’s Day, the Sunday Labs team put out their brand new white paper for their Sunday V3. There’s a lot of documentation and there’s a lot of video content around this already.

01:46
So if you want to check something out, check out Frid’s video or Paul’s video, they did interviews with Pi and they break down the entire protocol and everything that’s brand new about Sunday v3. So check that out. But one of the really interesting things here is how optimized and how fast the actual decks can be. So this is a theoretical maxes at the moment. So they’re doing 35 orders per scoop. So the way that Sunday works.

02:12
is when you use the decks itself, you’re submitting all these various transactions and they bundle those transactions together in what’s called a scoop. And there’s been limitations with those scoops. I think it was about six orders per a scoop at the moment. But now they managed to scoop together larger chunks of orders. This here they got 35 orders per scoop and maximum of six scoops per block and an average of one block every 20 seconds. That’s a theoretical max throughput of around

02:41
907,200 orders per day. That’s incredible. But of course, I have to share that load with other DEXs and other swaps and whatnot within the on the protocol itself. So that would max out the chain if Sunday Labs had that sustained amount of transactions on their DEX. But to see that type of optimization alone is really good to see.

03:05
Now Pi also proved this as well. So they’ve got a preview transaction here on the preview network of 34 swaps in the single transaction. I did have a look at this on CXplorer as well. You can see all the inputs and outputs and the actual contract interactions. There’s 36 here, which is absolutely incredible to see. So if you’re interested in finding out a little bit more about that.

03:30
I’ll put links to it down below so you can have a little bit of a dig into this and check out this UTXO usage on the brand new Sunday swap protocol. The next project that’s kicking goals is Igon and Ed and stuff put out this post highlighting the storage growth of the platform itself. Now, for those that don’t know, Igon is a decentralized storage platform that allows users to use their unused storage on their computers, on their NAS network drives at home.

03:58
and then provide that as storage for other people to utilize. And this is really cost effective and allows you to earn some ecosystem tokens, the IIG tokens in this case. And they’re coming very close to two petabytes of data. That’s incredible. That’s a lot of information that can be stored on these storage devices. And they have a whopping 300 nodes in over 46 countries in 184 cities at the moment. So the growth of this is phenomenal.

04:27
You can see here also in the last 24 hours, five new IAG nodes become operational in India. And you can see from the little map here, there’s a couple of nodes down here in the south and I’m assuming the one node up in the north there. So that’s really good to see the type of growth and the opportunities for some of these storage providers to come on board, be a part of the ecosystem, participate and provide decentralized storage for the network.

04:54
Now one of the really interesting updates I saw recently is IAG is in talks with Pure Health, the largest integrated healthcare network in the UAE. 73 hospitals, 100 plus clinics, 200 plus specialities, 147 labs, 33,000 plus employees, 3 million in assured members, 30 million claimed processes. So this is a rather large company that they’re dealing with here. And if we go down a little bit further here, you can see the CEO Navjit.

05:23
in talks in Dubai at the moment to talk about their platform and how it can offer the healthcare networks there a cheaper alternative for storing their data. It is secure and compliant with HIPAA. Now HIPAA is one of those regulatory bodies that ensures that the patient data is stored securely as possible and they’re compliant with that. So if it satisfies HIPAA, I’m sure that a

05:53
massive way to reduce their costs and be able to use Igon as a storage provider. So I’m really excited about this kind of development update. Now they did mention this is they’re just in talks with them for a pilot, nothing official yet, but super bullish on this type of news. Now Palmira, they have their Palm token coming up. They have the ISPO at the moment. So if you want to delegate to a state pool, you can do so and earn some of these Palm tokens.

06:22
but they do have their IDO coming up and I hate these type of announcements, announcement, announcing an announcement, but this is an announcement here. They have partnered up with T-Minus-1, a launch pad that is in collaboration with Via Finance where they’ll be doing the IDO for them and launching their token through their platform. So it’s really good to see that they’ve picked a Cardano ecosystem partner to do this, but they’re taking this a little bit further.

06:50
T-minus-1 are now looking into the Ergo community and using the Rosen Bridge to make this available to the Ergo ecosystem. So Palmyra did have its roots starting off in the Ergo ecosystem, so I’m not surprised that we’re seeing this type of collaboration and building the bridges and collaborating with the Ergo ecosystem. So really good to see that things are coming full circle there. Now if you want to learn more about T-minus-1, I did an interview with Stephen and Sunny.

07:19
about the platform and how they are different in regards to other platforms in the ecosystem. So check out this interview again, links in the show notes down below or in the top right hand corner there. I’ll put it up there so it’s easy for you guys to get to. Now while I have my YouTube channel open here, I’d just like to thank all of the channel members, the people that are buying me coffees on a monthly basis and supporting the content that I create here. So thank you so much guys.

07:46
These are my 9 awesome members. Thank you so much for supporting me on a regular basis. Now if you guys want to support me as well, you can do so by becoming a member down below. I try and get these pieces of content out as early as possible and members get first dibs on the content. So you guys can consume it at your leisure before anyone else does. Another project to look out for is Splash and these guys have come out from the Spectrum

08:16
supposed to be a rebrand but it looks like they’re building a brand new protocol out of this and I love this like 75% lower fees than AMA DEX’s fully open and transparent order execution anyone can participate and earn the fees mix a audible can AMM pools. Now this is one of the best things about uh spectrum finance and now splash as well.

08:39
anyone can participate and be a batcher or a order processor within their ecosystem and I love that aspect. This is very similar to other ones as well such as Genius Yield where you can be a smart order router or you can run a market maker bot and that allows you to participate in the ecosystem, run their platform in a decentralized way and earn the fees around it too. So I love DEXs and how they’re evolving at the moment in the Cardano ecosystem to allow for this type of participation.

09:08
where more people can actually earn and be a part of the ecosystem. So that’s why I got into Cardano in the first place and started my stake pool. Really easy onboarding process and starting a stake pool was fairly easy for myself. And it’s been a really cool journey as it is and seeing more of these types of opportunities on the Cardano ecosystem is absolutely awesome. Now recently I did a video on Musely Swap about the upgrade of their milk tokens to V2.

09:35
And that’s to add in the decimal places to the tokens because they minted it very early. They didn’t have decimal places. But in doing that research, I found out that they’re also going down the path of a full 100% DAO ownership of their platform now. So they’ve been always a semi-anonymous team. They started off anonymous. Then they thought, OK, maybe we should show ourselves and become a part of the Cardano ecosystem. But it seems like they’re taking a step back.

10:04
giving this protocol back to the Cardano community and running as a DAO. So it’s really good to see that this is all happening and a lot of this work is coming from their Catalyst Fund 10 proposals where they put in steps to actually make this happen. So we’re going to see a lot more of this come into play over the next few months I believe and I’ll cover it a little bit more as they start progressing to a DAO. Book.io are always doing something interesting and this I kind of missed out on but…

10:31
They were doing another airdrop of book tokens for anyone that was holding a Gutenberg Bible, their very first book that they minted on the Cardano blockchain and anyone that was holding them per book would get 833.33 book tokens and this has already passed. So this is old news now unfortunately, so if you missed out on this, unfortunately you missed out on those extra book token airdrops but there are currently 21 airdrops left.

11:01
for GOOT holders and this is happening on a monthly basis. So you can still get one of these Gutenberg books if you like and earn some of these book tokens within the ecosystem. Now the other update here which I didn’t realize either is that they launched a stake pool. So now you can delegate to their stake pool which is the book pool and earn some more of these tokens as well. Now they have a whole bunch of early delegated bonuses here. So if you delegate before February 24th.

11:30
fourth, today is the 21st of time recording this, you receive extra for 20% bonus in book tokens for that epoch. And we have some other bonuses here as well. So just check the dates of when you’re delegating and what these bonuses are. I’ll put a link to this tweet so that you guys can be kept up to date for it. So if you’re watching this at a later date, the last date we have here is the 5th of March. So the 10th of March, which is epoch 472.

11:56
you receive an ongoing 10% bonus in book tokens. So keep those dates in mind. Now the last note down here is that the book IO has created awards claiming system in partnership with Sunday Labs for you to claim your book token rewards. The book portal will be live by March 25th, the start of epoch 475. So this is a nice one in that you can delegate at any point in time and you’ll be able to claim those tokens very soon.

12:25
So a lot of these ISPO’s out there, you’ll be delegating to a pool and you have to delegate for three, six months or even a year before you see these tokens. Now the book token is already in the Cardano ecosystem. They had their IDO and token sale. So they don’t need to have that longer vesting schedule. They can get these tokens out as long as you’re delegating to their stake pool. Now in return, you give up your ADA rewards. This is a 99%

12:51
so you won’t be getting any ADA rewards. You give up all your ADA rewards and the book team get to claim those ADA rewards and they’ll use it for funding or paying for whatever operational expenses they have. So you can find out more details about this at book.io slash state pool and all of the details there about their ISPO and any updates. Please check out the website. I’m sure they’ll update things if needed. So how is the book pool going at the moment?

13:18
From this tweet, they say they’re at 17 million, but let’s check this data on the live website at PoolPM, they’re at 20. So they have also produced their first block, so congratulations. I know it’s always hard to get to that point, but it’s really good to see that it’s all happening for the team there. The sad thing though is that a lot of delegation is moving from a lot of these single staple operators over to the book.

13:45
here so you can see some other Australian operators here and they’re slowly moving their stake over to earn some of those book tokens. Now I don’t know how long this ISPO will last or how many tokens be distributed from the platform itself. Check out those details. Hopefully a lot of this delegation does go back to their original pools at some point in time as well. Now like I said if you did miss out on the book drop, don’t worry.

14:09
You can always get another Gutenberg Bible and there is more and more of these air drops happening every month. And currently the book team are minting out this brand new series of book called Banned Book a Day. So these are a whole bunch of banned books across the world that they’re publishing through their platform. So these are controversial ideas that have been banned in a lot of the school systems. And as a result, all these books have been burnt or destroyed.

14:39
You can now purchase them through book.io. So check that out. There may be some titles here that you may be interested in. And keeping some of these on chain for historic sakes, I think is a really good idea too. Now the Dex Hunter community never ceases to impress, but also the NewFi community with their Web3 wallet, cross-chain wallet, are doing some really cool things. And they’ve integrated in Dex Hunter into their platform. And this allows anyone that is using the NewFi wallet

15:09
which is a cross chain wallet, a cross protocol wallet. Now I did try this out as well. And here it is on the left-hand side, you can click on Dex Hunter there and get to the swap screen where you can swap ADA or any token for anything else in the Kedana ecosystem. Now we’ve been playing around with this integration as well. And you can on the Learn Kedana website, do some swaps via Dex Hunter too. So if you’re going through one of our courses,

15:35
The course might be talking about fluid token here. You can go through there and actually do the swaps as you’re doing the course. So that’s a pretty cool addition there. We may be optimizing this a little bit so it’s not so big and taking up so much for the screen. We may change it into a little button or something. But it will be there so that you guys can actually go through and start trading some of these tokens as you learn about the projects as well. So you can see it here. This is our fluid token course. And you can go through all these different topics about fluid tokens.

16:05
so you can get your hands dirty and actually start playing around with some Kodana DeFi. Now in the previous weeks I have been really busy doing a lot of Project Catalyst videos and I managed to get out as many as I could before the voting deadline ended and now we’ve had the results. Overall I’m pretty happy about it and I will do a follow-up video about Project Catalyst

16:33
The Fund 11 has kicked off. We’ve had our onboarding interviews now and a lot of new projects, a lot of new faces have come on board and are learning the process of going through Project Catalyst. It does take a little while to go through and understand all these intricacies. So it’s good to have so many people participate in the onboarding calls. I’ll keep you guys up to date in regards to what’s happening with this and also up to date with all of the stuff that we’re involved in as well.

16:59
Now this update here is quite interesting. This is from Sebastian behind Pima Studios and Torochi the game, a GameFi game had launched just recently. And look at this, they’ve passed a million transactions through their game in the last 100 hours since their launch. 8,500 unique players with 25,000 monsters captured. Now for those that don’t know, Torochi is a essentially a Pokemon game clone.

17:28
very similar to Pokemon with a slight little differences here and there and of course all blockchain powered. Now this is the game here itself. I have been playing around with it for a little bit so I do have my progress saved. So you can get to the game and start playing around. You can get to it at toro As you can see here in this little mini demo that I’m doing it is very Pokemon-esque.

17:54
You can go into the little buildings here and interact with all the different characters. So it’s top down player view and you can battle various other players for monsters and what not. So check it out if you’re interested in this type of game. I think it is pretty cool. So if you want some stats around this as well, Sebastian put together this little graphic here that shows you how many transactions they’ve had in the last 24 hours as comparison to other dexes and other platforms in the Cardano ecosystem.

18:23
306.7 thousand transactions in 24 hour period. JPEG store is, you know, 69.5, MinSwap at 43.6. So really big numbers there and really good to see. Now, if you’re playing the game, it actually will continuously save your progress. So if you’re battling a monster or something like that, it will do a transaction. If you’re making progress in the game, it will do a transaction. So as you play it, there are a lot of those transactions that go through.

18:53
So I’m not surprised that those numbers are really high. Now the other interesting thing here is that Nmaker helped Palmer Studios launch their Torechi game on Cardano. And the 100K collection sold out quickly, but the data here, check out this data, this is very interesting here. This is the distribution of the actual NFT collection by chain. And you can see here, Arbitrum is almost 40% of the NFT collection.

19:22
We have ARB in USDC there, USDT on ARB and ZY, I don’t even know what that is. But then if you look at the percentage that purchased on their platform with ADA, it was less than 4%. And, you know, Sebastian did question this, like why is it like this? You know, we’re trying to make GameFi bigger, especially in the Kedana ecosystem, but it looks like not many people participated. Now, to be honest,

19:51
I didn’t even know this mint was happening. I did know about Pima Studios previous mints and the Volkineers for example and I’m into that one pretty quickly. But this one here I did not know about. So Sebastian is looking for advice around this and what’s going on in general. So here he states it’s a little disappointing result but many that I talked to said they have been following things like meme coins more closely rather than gaming and maybe that’s a factor. A lot of…

20:20
Cardano ecosystem users at the moment are into the meme coins for the gains and more so into DeFi itself than anything else. But honestly I did not see anything around the launcher of this until it was too late and it had already launched and was already out there. Now if you actually go to the Torochi account, so let me just click on that here and if you have a little scroll through.

20:46
Now I didn’t see any posts here. I am following the account but I didn’t see any posts here about minting in general. So a lot of the posts that you do see here is this one’s for like OpenSea, stats here for Polygon, ZKSync, Torochi, Optimism, Arbitrum and Avalanche but I just didn’t see anything in regards to Cardano. So you know it’s I think a lot of marketing maybe was done.

21:13
to attract a lot of these other players in other ecosystems and other blockchains. And because their members are a little bit higher and a little bit more engaged with GameFi, I think it kind of let the Kidano side go to the wayside and didn’t get as much of the attention. And you can see here a lot of these posts are all on OpenSea, Arbitrum and all that. So I’m not surprised that

21:42
The Cardano side didn’t get much attention because I don’t see many posts here about Cardano at all. So let me know your thoughts down below. Why wasn’t the Cardano ecosystem engaged with Turochi as much as some of these other blockchains, which you can clearly see here from this diagram that they were. So I’d love to get your opinions and understanding of why this may be.

22:06
Now recently also AXO had launched and I thought I’ll just highlight this upcoming Twitter or XSpace that’s coming up between Charles and Jarik. I’m not sure what they’re going to talk about actually. The tweet didn’t actually say what the conversation was going to be about other than join us for a meeting of the mind. But be interesting to tune in and learn about what is going on with AXO, this amazing platform. I will be doing more videos about it as well. So.

22:34
please subscribe so you can get access to those videos. Now this is the last project I’ll be talking about and this is Butane and their upcoming IDO, which is coming up in two days from the recording of this video. So if you’re interested in Butane and its synthetic asset protocol, please check that one out. All the details are put in the links down below.

22:58
but they have their BTN native token sale coming up and you can see all the details at sale.butane.dev. That’s this website here. They’ve got the total distribution length, the sale price per token and their funding cap as well. Now if you click on event details here, you’ll get their PDF and it will give you the breakdown of their entire tokenomics and everything else around it. Their treasury here, total dollar supply.

23:26
and all the other numbers that you need to know, such as the vesting schedules, et cetera. I’m not paid by the team here. I’m not invested in the project at all at the moment, but I probably will end up buying later on after the sale. That’s usually what I do. Depending on how the protocol is, I like to actually use the protocol and experience for myself before actually buying a token behind it. So try before you buy, essentially.

23:54
So that’s all I have for you guys this episode. Hopefully you found this one useful and interesting, lots happening in the Cardano ecosystem as always. If you enjoyed it, thumbs up, subscribe, notification bell, lots more Cardano-led content coming for you. Now if you haven’t checked out my course stuff around fluid tokens and all these other ecosystem projects that I’m doing coverage for, check them out, all the links there on the side for you guys so you can learn more about Cardano DeFi and what it has to offer.

24:23
Yeah, gotta do it like that. You’ve been listening to the Lerm Cardano.

 

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