There is a lot of news this week in the Cardano news update.
Project Catalyst Fund 6 Results Have Been Released
The results from Fund 6 of Project Catalyst have been released with many new projects being funded. A few that I had interviewed over the past few months were also included in that group of projects that got funding.
Over the weekend we saw a few large NFT drops. Whenever these NFT projects are released, there is a buzz of activity on the blockchain and the network is bombarded with transactions. In this experimental test, the creator of Crypto Knitties experimented with the speed of a regular transaction on the network during this peak time.
In total, it took 30 minutes for the transaction to go through rather than the 30 seconds which it normally takes to register on the blockchain and return a valid response.
The Twitter thread talks about what might be done to improve network speeds during times like this to reduce network congestion while mass drops are done.
Bitcoin ETFs are Released in the United States
How Does a Bitcoin ETF Work?
Before we look at the potential benefits and risks of a bitcoin ETF, let's back up a step and go over what a bitcoin ETF is and how it works. An ETF is an investment vehicle that tracks the performance of a particular asset or group of assets. ETFs allow investors to diversify their investments without actually owning the assets themselves.
For individuals looking to focus only on gains and losses, ETFs provide a simpler alternative to buying and selling individual assets. And because many traditional ETFs target larger baskets of names with something in common—a focus on sustainability, for instance, or stocks representing the video game industry and related businesses—they allow investors to easily diversify their holdings.
A bitcoin ETF is one that mimics the price of the most popular digital currency in the world. This allows investors to buy into the ETF without going through the complicated process of trading bitcoin itself. Moreover, because holders of the ETF won't be directly invested in bitcoin itself, they will not have to worry about the complex storage and security procedures required of cryptocurrency investors.
Why Not Just Invest in Bitcoin?
If a bitcoin ETF merely mirrors the price of the cryptocurrency itself, why bother with the middle man? Why not just invest in bitcoin directly? There are several reasons for this. First, as indicated above, investors don't have to bother with the security procedures associated with holding bitcoin and other cryptocurrencies. Further, there is no need to deal with cryptocurrency exchanges in the process—investors can just buy and sell the ETF through traditional exchanges and markets.
There is another crucial benefit to focusing on a bitcoin ETF rather than on bitcoin itself. Because the ETF is an investment vehicle, investors would be able to short sell shares of the ETF if they believe the price of bitcoin will go down in the future. This is not something that can be done in the traditional cryptocurrency market.
Australia’s corporate regulator has given the green light to a range of cryptocurrency-related ETFs, which could see Bitcoin and Ethereum-backed investment funds trading on the ASX in the coming months.
On Friday, the Australian Securities and Investments Commission (ASIC) released a set of guidelines and requirements relating to crypto exchange-traded products, or ETPs, after a series of consultations the regulator has been undertaking since June.
Tokhun The First Marketplace to Implement Smart Contracts
Tokhun have announced that they have successfully implemented smart contracts on their marketplace allowing for smooth none escrow transactions between peer to peer for the sale of NFTs. This now ensures a fast and safe market experience for buyers and sellers of NFTs on the Cardano blockchain. Congrats to the Tokhun team.
MinSwap has been doing great things in regards to their progress with their DEX. One of the events they held recently was a token sale where they raised several hundred million to fund the development of their platform. They have they're for setting an initial price for their Min tokens and as a result, there may be unforeseen tax implementations for delegates that are staking for Min tokens on their partner pools in the Fair Initial Stake Pool Offering. If you're delegating
Ardan Complete a 10M Funding Round including Cfund
Ardana is one project I'm watching closely. Unfortunately, I've missed out on their first initial token sale and their next token sale at the end of the week is via Occam's platform and is being done in Eth which makes it a little harder and more costly but their team have managed to raise 10M in initial investment funding through their first rounds of fund raising.
The Cardano-powered platform, whose founding team features tech veterans from Apple, Microsoft, Barclays and Cardano, won support from DeFi Capital,Mechanism Capital, Kronos Research, mgnr.io, Morningstar Ventures amongst others in a round led by Three Arrows Capital, CFund and Ascensive Assets.
Notable angel investors included David Post (Managing Director of Chainlink Labs), Taiyang Zhang (Founder of Ren Protocol and KeeperDAO) and Justin Sun (Founder of Tron) among leadership within Cardano.
Every few months there are more and more Initial Stake Pool Offerings (ISPOs) that are starting up in the Cardano ecosystem. This unique funding method allows projects to raise the necessary funds required to build their projects while allowing for a relatively safe and risk free way to participate in the ecosystem. Genius X ISPO […]
Compounding your rewards on the VyFinance (VyFi) platform can earn your more rewards compared to simply leaving your rewards unattended. Compound interests is a powerful invention. Harvesting Rewards & Compounding Returns on VyFinance Did you remember to harvest your rewards on the VyFinance platform? I totally forgot! All of my NFTs had matured and were […]
One year ago today, I decided to open up a Cardano stake pool and I've ended up down a rabbit hole that I did not expect. My expectation was to simply start a pool, write a handful of articles about the pool and staking and watch the delegation come in. That was far from the […]
The MinSwap Decentralised Exchange is close to completion and in its final stages of launching on the Cardano Mainnet blockchain which will mean we will see live swaps capabilities and yield farming options soon. All the content in this article has been referenced from the MinSwap Liquidity Bootstrapping Event article found on their Medium. Overview […]
Enter via the Gleam app for your chance to win one of the partnership NFT to stake via the VyFi platform. The competition will run for a week and will be drawn on the 23rd of Feb. Learn more about staking NFTs on the VyFi app and how you can earn extra rewards simply by […]
Ardana has announced the Ardana ISPO to the community. Ardana is offering $DANA tokens for users that are staking at the various stake pools that are a part of the Ardana Stake Pool Alliance, which we ADAOZ is a part of. The team at Ardana have witnessed large amounts of ADA consolidate around a few […]
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