More Projects Launching on Cardano, ADA News Update, 18th Dec 2023
Episode by Peter Bui on December 18th, 2023
This week, we’re seeing more protocols launch on Cardano. The Cardano ADA DeFi ecosystem is exploding with growth!
DexHunter Adding More Features
Cornucopias Gate.Io Listing
TangleSwap Token Sale
Cardano Governance Temp Check
Cardano Node GitHub Repo under Intersect MBO.
Butane Launching Soon
Splash Launch Coming Soon
Another Cardano News update today is the 18th of December, 2023. I’ve got a couple of news stories for you, as well as three new protocols that are launching, I think, this week, or sometime in December, at least. So check them out. They’re right at the end of this video. Don’t forget, give me that thumbs up, click subscribe, click on the notification bell on your way in. And don’t forget, there are chapter markers down below. I put them there so it’s easier for you guys to navigate through the topics that you like, skip the ones that you don’t, so you can cover as many things as possible.
Alright with that let’s get into this news update. This first one here I have for you is from Dex Hunter. Can you spot it? I’ll give you a second. There’s something brand new on this interface.
No, you haven’t got it. This right here, 49% of global trades, they’re added in this brand new feature here. So you can actually see how many trades are going through their platform. And if you actually go to their platform itself, I’ll load it up here, you hover over that, you can see how many total trades are gone through the Kazan blockchain in the last 24 hours and how many of them have gone through the Dex Hunter, Dex aggregator.
So that is absolutely phenomenal to see, and they’re really dominating all of the trades at the moment in the Cardano ecosystem. We do have another one coming on board really soon as well, ADA Markets. Now you got to check that one out as well. It’s got a lot of very similar features, and I’m pretty excited to see competitors come in and start building some more innovative ideas on the Cardano ecosystem. So congratulations Dex Hunter for adding in so many really cool things and dominating.
the global trades within the Cardano ecosystem at the moment. And they bring in this really new cool feature, cross chain swaps of USDC over to any Cardano native token. So I don’t know the details of this and exactly how it’s going to work, but you can see here from the interface cross chain swap, we will see this and it seems like maybe it’s opening up liquidity to from Ethereum or something like that.
and open it up over to the Cardano ecosystem. So anyone that’s over on the Ethereum side or EVM side with some USDC will be able to plug that in, use their stable coin assets and start buying up these tokens in the Cardano ecosystem, which are absolutely gunning it at the moment. Some of these are going so well and there’s such high demand for them. The next news item here is Cornucopias. Now I still haven’t managed to get to play the game yet. So I will have to get around to that and work out.
what NFT I need to buy. But they have a centralized exchange listing coming right up on gate.io. So if you haven’t used that platform before and you’re interested in getting into Cornucopia, so you can do so via gate.io now. You need to set up an account. Now it is coming on board online at the 21st of December at 8 AM UTC. So a few days from this recording at the moment, and you’ll be able to trade between copy and USDT.
So if you’re interested in getting your hands on some of those Cornucopious tokens, those copy tokens, check it out. You can do so via Gate.io. Be pretty exciting to see. Now the next news item that they also have is around the copy node sale. I mentioned this in the last news update, but we have some more details around this now. So we have a whitelisting process, which is starting on 8pm UTC on Monday, which is really early in the hours for me on Tuesday morning.
but you’ll be able to get into that particular whitelisting process so then you can actually then go buy the NFT afterwards. Then after that they also have a raffle sale as well for any of the land dome or vehicle owners so if you’re one of those holders at the moment you may be able to get into the tier 1B allocation and purchase one of these nodes. The other thing they also mention is the preparation for the actual sales itself.
So they do have multiple different accounts. I was quite aware of this last sale that they were doing. They have a player account and then a marketplace account. Make sure you have those all sorted out and you know which one you’re actually using. So follow the instructions there on how to go through and create your accounts, connect your accounts as well. Minting does start on Monday and they do recommend setting up all of your accounts and getting ready now if you’re interested in this particular sale. Late last week, the team from TangleSwap were doing their void token sale.
and they were using Wrap Smart Contracts on Milkomeda for their decks itself. Now they did have a little bit of issue with Milkomeda’s bridge and indexer not scaling and not being able to handle the amount of load that the TangleSwap community were throwing at it. Now at the same time the BlueShift team were also running a 70,000 USD campaign to drive traffic and usage on their
on the Milkomeda Bridge and it kind of brought it all down. Now the team on TangleSwap did manage to raise over 500,000 ADA within the initial two hours of the sale which is absolutely phenomenal that is really really cool to see that the team managed to get and spark that much interest in their platform but unfortunately didn’t go all to plan.
Now they do have a brand new auction date that is going to be set really soon. So if you’re interested in that, please follow along on all of their social channels to find out exactly what’s going on. Do your own research behind it as well. I’ve done plenty of interviews with the TangleSwap team. I’ve done breakdowns of their protocol as well. So check out those interviews, just search for TangleSwap on the Learn Cardano YouTube channel. Now this one here was quite interesting and this was the Cardano governance temperature check and
It looks like only 800 or so people or wallets voted for this process, which isn’t really ideal. We do want a lot more people in the Cardano ecosystem, any Cardano holder, to be voting on this process. Now, I know a lot of people don’t understand what we’re voting for or why we’re even voting for this and leaving it to the people that are more vocal or involved in the Cardano ecosystem to do it. In a way, I think that’s okay.
and everyone else that is just a part of the ecosystem from staking or just holding the ADA token just comes along for the ride. But really, we do want this total amount of votes to really, really increase to like the thousands, the hundreds of thousands of participants to really show that the Cardano ecosystem is decentralized and no longer in the hands of
is driving for its governance and control and direction of which way the Cardano protocol goes. So I do think this is a bit of an education process. We need to teach our delegates and stakeholders out there that voting is a part of governance and part of owning and being a part of the Cardano ecosystem. So it will take a bit of time. This was the very first initial temperature check and obviously from the results here, there’s some improvements to do and this is mainly around voter participation, I believe.
So let’s work on that and hopefully the next vote that we have, maybe another test as well, we can get that voter participation up a lot higher. We’ll be hopefully more so in a bull market and more people be interested. There’ll be more eyeballs on this. Maybe we need incentives or something for the voting process as well. We’ll see. We’ll work it out. We’re part of the process of growing this. So we’ll see where we can take Cardano governance in the future.
Now, Book.io never cease to impress. And this one here is really cool in that now they have their minting of their book NFTs, but also printing of them too. And you’ll be able to print some of these and put them on your bookshelves and have one of one covers and super rare physical books. So that’s absolutely really cool for those collectors out there of some of these published titles.
Now this is an example that you can see here and I think it looks pretty cool. So if you’re interested in any of these, make sure you keep an eye out for what book I owe I doing in 2024. Some of your favourite books will be able to be printed as well. And I’m really looking forward to that. Maybe I can get some of my classics that I like that I’ve got collections of printed and have on my shelf behind me. So that’d be absolutely amazing. This new story I didn’t notice and I thought was really cool. And this is another sign that
the Cardano ecosystem is growing and becoming more decentralized. And here we have Intersect. So Intersect is the members based organization that will eventually replace and be a part of the governance process of Cardano. And the Cardano node, GitHub repository, which was formerly controlled under IOG’s GitHub repositories, are now moved over to Intersect. So now more and more of that is in the hands of the community.
So we’ll be able to control those various aspects of when the community should be notified to upgrade their nodes for their state pools out there. So little things like that, but it makes a big difference in terms of decentralization and removing that central authority on the Cardano blockchain itself. So really cool to see. You can see the Git repo commits here. You can see import output being removed from everything and intersect MOB being replaced.
in all of these variables and whatnot. So nice to see and we’ll see a lot more of that in the future too. Now this is one of the protocols that is launching and this is Sarah. I’ve mentioned Sarah before, I’ve done a overview video of them too, but they’ve slightly changed. They’ve tried to go through a token sale. It didn’t quite work out for them. So they’re pivoting, innovating, they’re doing an MVP and just getting it out there to see if they can get more of an attraction that way. So they’re launching on main net.
in the next couple of weeks and they’re bringing out their lending and borrowing protocol on top of that and I believe they’re doing derivatives as well. So you’ll be able to play around their platform very very soon. I’ll keep you guys all up to date as soon as they launch I’ll do another video so you can get an idea on understanding of exactly what they’re trying to do. Another one that is launching really soon is Butane. They’re just going through their audits at the moment and I have spoken to the founder and we’re going to go through
and talk through the platform and get a really good understanding of what they’re trying to achieve. But they’re building synthetics on Cardano, but with really good mechanisms of redemption around it with a lot of cheaper fees as well. So we have Indigo, which is doing synthetics. You can get synthetic BTC, ETH and USD, and they’ll be doing something very similar around that, but with some optimizations behind it. So I love what Butane are doing and what they’re bringing to the Cardano ecosystem.
We always need more of these innovations and competitions within the ecosystem to really drive that innovation and start pushing the chain forward. So I can’t wait for Butane to launch as well. And I’ll have videos around that as soon as they do. Is this just second rename, second rebrand? So you were ErgoDex before, but I could totally understand that rebrand because you’re going from ErgoDex to Spectrum and you’re doing that whole DeFi spectrum of tools that you’re going to build.
totally understand it, totally brand understand that rebrand but then changing to splash as well. Way to confuse people but hey it’s okay I really do like the branding of splash I think it’s a little bit nicer but they’re bringing some new ideas and innovations as well not just that rebrand and I thought I’d just go through their Twitter feed to give you a better understanding of what they’re doing. Now some of these I’m pretty sure are already existing in spectrum such
I thought it was really cool how they do things like that. But let’s have a look at what they bring with Splash. So here we can see the ultra fast execution under any load. And that’s really important because the last weekend, the last few days, last week even, we saw a lot of heavy load on the Cardano blockchain from all this activity. We’ve got meme coins launching, we’ve got other DEXs and DeFi protocols launching, we had Genius Yield launch last week and all these campaigns as well around it. So…
there is a lot of chain activity at the moment. And when the bull market comes, we need to be able to handle that. So DEXs that optimize their codes using the latest versions of Plutus V2, Plutus V3, whenever that comes out as well, I think it’s maybe already out, but then ultra-fast executions and ultra-fast ways of doing things on chain and off chain really matter at this point. So optimizations like this from Splash are going to be really cool. So,
We have same block execution, which I think is crazy, but really cool. It’s being distributed, it’s a distributed platform, it’s decentralized, and anyone can participate to earn fees. And a lot of that stuff is already in Spectrum Finance already. Some other features here, the quick one-transaction execution, really cool. Significantly lower price impact, always important for any trade, and the advanced order types.
There isn’t much more details around that, but I will find out as soon as the information is released. And the other thing here, I think they’re going for what AXO are doing and doing the advanced strategies that you can execute on chain now as well. So they’re doing the traders and market orders strategies. I’m not sure what they are either, but I’m assuming like DCAs and other things like that, which a lot of other protocols are doing right now too.
Now the very last thing I saw about their protocol is how participants can get rewarded in their protocol tokens. So all protocol participants will be eligible for Splash DAO rewards from the LP fees and also order execution engines. So it’ll be interesting to see how that evolves or if there’s anything else around it too. So check out Splash, make sure you keep an eye on them. Splash by Spectrum Labs coming soon to Cardano. Now the last protocol I mentioned here is Option. I forgot to mention them in the last news update, but they’re launching.
I believe on the 20th of December, so a few days from now. So their order is now complete. So make sure you keep an eye out for them as well. Their OPT token has been trading quite well. So keep an eye out on that one too. Now that’s all the news updates I have for you, but I will also mention the Genie Shield launch quiz that I did on the Learn Cardano, Learn to Earn platform. I think it went phenomenally well.
We had over 450 quiz participants on this particular launch and only 100 of them through the Zealy campaign will be rewarded, but we had a lot of participants in the quiz and I’m really happy that people did participate in the quiz and gave me feedback on it as well. So I think it was the right balance of difficulty on that quiz and being able to teach people about the platform all at the same time.
So congratulations for anyone that got the full marks 10 out of 10. I did review all of the tasks as well. Again, thank you for anyone that gave me feedback on that. I absolutely loved the feedback and really appreciate it. Now there will be more of those learn to earn programs coming out as I start doing more courses and more material for other DeFi platforms out there. So keep an eye out for it. Make sure you sign up for the newsletter mailing list there as well. Links are down below for you in the show notes.
Now if you love being kept up to date with Cardano related news, make sure you give me that thumbs up, click that subscribe button down there in the middle, notification bell there on the side as well and I’ll see you in the next video.