Cardano (ADA)

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Ownership of each Chaincrib property is split across a finite number of representative tokens minted on the Cardano blockchain.

Here, you don't just own the tokenized properties as NFTs, Based on token share, owners can collect revenue from rent, and vote on property decisions.
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Cardano welcomes USDM, its first fiat-backed stablecoin​

Over the past year, bitcoin (BTC) has increased by 148.4% and ethereum (ETH) by 93.9%, whereas cardano (ADA) has seen a more subdued growth of 56.8%. This week marked a notable change as toncoin (TON) overtook ADA, ascending to the ninth-largest market cap and nudging ADA down a notch.

Despite this shift, ADA still maintains a lead over avalanche (AVAX), boasting a market capitalization slightly above $22 billion, compared to AVAX’s market value of $18.27 billion as of April 9, 2024. While BTC soared to unprecedented heights this year and many cryptocurrencies are hovering near their previous peaks, ADA remains 80% below its Sept. 2, 2021, zenith of $3.09 per coin.
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While Cardano has shown time and time again its resilience as a hub for decentralised and sanction-free transactions, it has largely been ignored by USDT and USDC - two fiat-backed stablecoins created by the Tether Holdings and Circle Consortium. The two USD-backed tokenised assets with a combined value of $137 billion plus, have largely paid zero attention to the Cardano blockchain.

This hesitancy to launch USDT and USDC have served as a form of chasm as several decentralised applications (dApps) have been unable to access real-world liquidity as their counterparts on Ethereum and Solana.
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USDM is the first US-licensed fiat-backed stablecoin, meaning US residents building on Cardano can both store and move capital seamlessly across the Cardano blockchain. Even better, it is totally decentralised as network power rests in the hands of the community.


This means the Mehen project team cannot censor any transaction validated with USDM on the Cardano blockchain. This means users will not experience fund freeze with their native assets. This is due to the availability of a know-your-customer (KYC) verification process that all users have to go through before accessing the stablecoin. This ensures that bad actors or cyber criminals do not move value using the stablecoin, cutting out the necessity of censoring such transactions.

Even better, it operates seamlessly with all Cardano native assets allowing for capital to move across the 162 blockchain projects operating on the peer-focused platform. It is also fully secure, transparent, and scalable ensuring that value transmission across dApps is as smooth as it should be.

The Mehen team is not stopping here, though. The stablecoin maker is already making moves towards collaborating with payment companies to make debit card swipes, chip-and-PIN, or tap-to-pay capability fully accessible on Cardano while leveraging the tokenised value USDM promises.

All in all, USDM’s emergence on the Cardano is the much-needed jet fuel, the peer-reviewed protocol needed to become the new darling of the DeFi space.

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Blockchain-native ETP investment vehicles are slowly becoming a norm and Liqwid Finance has joined the trend. The Cardano variant ... has recently rolled out an ETP product focused on the peer-reviewed research blockchain network.

Sharing the new development on X, Liqwid Finance revealed that the ETP is codenamed CASL and is accessible for trading on the SIX Swiss Exchange.


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... While other digital assets ETPs like Bitcoin and Ethereum only track the price performance of the underlying asset, the CASL investment vehicle will also allow investors to earn staking rewards from subscribing to the service.
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The Chang hard fork, slated for Q2 of this year, marks the beginning of a new era of governance for Cardano. It’s a culmination of years of hard work, community participation, and testing. This fork will usher in two upgrades: Chang Upgrade Number One and Chang Upgrade Number Two.

Chang Upgrade Number One will deploy governance features on Cardano, initiating the technical bootstrapping phase outlined in SIP 1694. This phase sets the stage for decentralized voting, governance actions, and more.

Chang Upgrade Number Two takes SIP 1694 out of the technical bootstrapping phase, unlocking the final features of on-chain governance, including delegated representative participation and treasury withdrawals. This is monumental, as it empowers the community to propose and fund new projects, ensuring the sustainability and evolution of the Cardano ecosystem.

In conclusion, the Voltaire era signifies a new dawn for Cardano, where governance is decentralized, inclusive, and transparent.
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The Cardano blockchain was hit by a distributed denial of service (DDoS) attack late Tuesday. However, the attack was unsuccessful and mitigated before any damage was caused, and the network continued to operate as usual.

DDoS is a common attack vector in which the attacker floods a server (or a blockchain) with spam traffic to prevent users from accessing connected online services and sites.

Fluid Token chief technology officer @ElRaulito_cnft said on X that the attack began on block 10,487,530, each transaction executing 194 smart contracts. The attacker spent 0.9 ADA per transaction and filled each block with several transactions – attempting to stress the network.

Philip Disarro, founder of Cardano development firm Anastasia, said the DDoS could be stopped immediately by deregistering the stake credential used by the attacker. The attack was stopped shortly after Disarro’s post.

“DDOSer halted his attack after reading my tweet in an effort to protect his funds. Alas, they were too late and the pillaging of their funds is already in progress,” he said.

A Cardano developer later clarified that the DDoS attack was aimed at disrupting the system and not to steal staked tokens.

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Cardano (ADA) has surged 16% in the past 24 hours, leading gains among major cryptocurrencies, as traders look to a $100,00 price for bitcoin (BTC) in the near term following the Federal Reserve's interest-rate cut on Thursday.

ADA rose above 42 cents in European morning hours Friday to reach levels last seen in late July. Recent price growth catalysts include a marketwide rally and resurging interest in decentralized finance (DeFi) that also spurred gains in ether (ETH) and Solana’s (SOL). Some observers also pointed to ADA's appeal among retail investors.
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pmbug said:

Some details on the Chang fork: ...

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Plutus V3 was introduced to mainnet with the Chang hardfork. It is an upgrade to Cardanos Smart Contract Language that has improved multiple aspects:

- Performance has been enhanced by reducing computational requirements and adding a Sums of Product.

- Cryptographic Primitives have been introduced, allowing for possible zk (zero-knowledge) implementations

- Interoperability with EVM chains has been enhanced
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Key Takeaways

• The Plomin hard fork is a Cardano blockchain upgrade that introduces significant governance changes for the community.
• It enables the full implementation of decentralized governance, allowing ADA holders to delegate voting power to DReps (Delegated Representatives) who vote on governance actions.
• Key governance actions include protocol parameter changes, treasury withdrawals, and hard fork initiations.
• The Plomin hard fork requires SPOs (Stake Pool Operators) to upgrade their nodes and approve the upgrade with a 51% majority vote. As of January 22, 78% of the network nodes had upgraded to the new version.
• Once implemented, the Voltaire era of Cardano will be fully realized, giving the community control over the network’s future.
• This marks a significant step towards full community-driven governance on the Cardano blockchain.
• Readiness for supported wallets, dApps, voting, and other information can be found here.

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NYSE Arca, a subsidiary of the NYSE Group, has filed on behalf of crypto asset manager Grayscale to launch a spot Cardano exchange-traded fund (ETF).

In a Feb. 10 proposed rule change filing to the SEC, NYSE Arca proposed that the stock exchange list and trade shares of a new Grayscale Cardano Trust.

If approved, the product would be Grayscale’s first standalone Cardano (ADA) investment product.

According to the filing, Coinbase Custody Trust Company would be the custodian of the assets, and BNY Mellon Asset Servicing would serve as administrator.
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