- Cardano ecosystem sees significant progress with state channel protocol Hydra.
- Programming language Helios gets updates, making it easier for developers to build.
- Cardano is establishing itself as an incubator for media projects.
The Cardano (ADA) ecosystem continues flourishing with exciting developments and updates. Cardano Whale, a popular Twitter figure in the ADA community, recently reported some of the most significant highlights of the blockchain.
1/Cardano has a vibrant ecosystem but some news goes unreportedIn #LatestOnCardano I highlight news, minor and major. L1+L2 upgrades, stats, dapps, SPO, NFT, governance, community and moreAll things Cardano. Irregular but hopefully frequent. Here’s #18 in the series. Pls DYOR— ADA whale (@cardano_whale) May 6, 2023
The influencer noted that the state channel protocol Hydra has achieved mainnet compatibility, a crucial step in Cardano’s scalability plans for payments and auctions. Meanwhile, various decentralized exchanges (DEXs) have been progressing.
This week, the Cardano-based MuesliSwap DEX became the first DEX to allow the trading of non-ADA assets. This move opens up the Cardano ecosystem to a broader range of users. Also, Helios, a programming language designed explicitly for Cardano, received many updates, making it easier for developers to build applications on the blockchain.
Cardano Whale also revealed that Cardano is establishing itself as an incubator for media projects focused on books, music, and video. The ADA-based Nucast platform released its Android app, allowing for decentralization and tokenization of video ownership.
On the other hand, Aada Finance, a fast-growing lending protocol on Cardano that started with P2P loans, is soon bringing pooled lending. In a tweet on May 3, Aada Finance stated that it is introducing a pool manager NFT where its holder will be able to delegate locked ADA (supply or collateral) to any pool and register a new stake pool.
Exciting news for #Cardano enthusiasts. With Aada V.2 we are introducing a Pool (NASDAQ:POOL) Manager NFT where it's holder will be able to:– Delegate locked ADA (supply or collateral) to any pool– Register new stake poolHow do you measure this NFT value?#CardanoCommunity #ADA pic.twitter.com/U6swocDvGA— Aada (@AadaFinance) May 3, 2023
Ultimately, several fun projects are making waves in the Cardano ecosystem, such as the hand-drawn NFT collection WhiskeesNFTs, which offers partial ownership in rare aging whiskey casks to NFT owners, yielding 15-20% per year.
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