Cardano DeFi Is Exploding – Here’s What’s Fueling It

Episode Transcript

Speaker 1 (00:00):
A midweek Candano update for you guys, and this is
really exciting. We're seeing some updates from the Bitcoin conference
with IOG and Kadano unlocking DeFi for the Bitcoin ecosystem.
I've got a dedicade video for this one, so make
sure you check that one out. We also have updates
from the Cardano DeFi space. Lots of protocols, lots of

(00:20):
projects here, and lots of growth, so we've got some
updates around that. We also look into the aispace on
the Codana ecosystem and that is really ramping up for
some really cool projects. And we also have various events
from all over the place, including the new Cast Music
Video Awards, and I have some shout outs from various
projects out there in the ecosystem too, So make sure

(00:43):
you tune in to the end to find out exactly
what's happening in the space here. Everyone. I'm Peter. If
it's the first time here, a hit that thumbs up
on your way in. I've got a lot to go
through here, so let's hit it now. The very first
news item here is the Bitcoin conference happening in Las
Vegas at the moment. There's a lot of Cadino projects
over there at the moment, and it's pretty good to

(01:03):
see the ecosystem expanding and thriving. But probably the biggest
thing to talk about is what the IOG team are
doing with bitcoin DeFi unlocking bitcoin liquidity for the Kadina
ecosystem and opening up defail opportunities for Bitcoin holders. The

(01:23):
ioteam had this lunch and learn session where they unveiled
swapping bitcoin native bitcoin on the min swap decks. Now
I've got a full dedicated video where I talked about
all the things that had happened within this particular event here,
So make sure you look at the YouTube channel and
you'd be able to see the update. I made a

(01:45):
dedicated video for it because I thought it covered so
much in regards to what was happening, So do check
out that video links down below or in the top
right hand corn of you guys there. But essentially what
we see now is you this is from the Bitcoin
ecosystem can connect to a dex via the lace wallet

(02:05):
such as mint Swap for example, and perform a swap
directly on the platform itself. So here you can just
see this person here is authorizing the lace wallet and
then performing a swap on the mintswap decks for some
BTC for some Mint tokens. They can click trade now,
confirm the transaction, and that's it. Away it goes. And

(02:27):
this is all possible thanks to iog's brand new Cardinal
protocol that will allow users to wrap their BTC and
to migrate it over to the Candna ecosystem. I believe
that's how it works. I haven't heard the presentation yet,
but I believe be put online really soon, but really
exciting to see new and innovative stuff and ways to

(02:49):
unlock that BTC liquidity and to open it up to
the Candona ecosystem. So do check that one out. Now.
Some other big news as well, bitstamp is opening up
and integrating Candano staking onto their platform. Now. Bitsamp is
a massive platform with over five million users on their platform,

(03:10):
which haven't had staking for the Candana ecosystem before, and
now this opens up new opportunities. People that log into
bitstamp will be able to see that they can now
stake aider and earn some APR. So hey, why not
let's give that a go. I can buy a little
bit of aider and then stake it within their platform.
So this opens up a massive amount of opportunities for

(03:32):
anyone that is in that ecosystem and gives them an
extra option for what they may want to buy within
the platform. So that is a really good move and
thanks to the bitsamp team therefore integrating the Candano staking.
This next news item I thought was really cool and
this is coming from the other direction. So I talk

(03:52):
about a lot of projects that are building on Cardano
and then integrating in Bitcoin. So all these wallets such
as Tokyo wallet building in bitcoin integrations on the Candana wop.
This is the other way around. So Taparoos Swap coming
from Bitcoin's verse one decks, that's what they termed themselves
as are integrating in Kadano to their bitcoin ecosystem. So

(04:17):
this opens up their users, their user base to what
is happening on the Cadano space. So this is really
good to see. That's coming the other way as well.
So there's a lot of Cadina projects moving over to
BTC bitcoin integrating that in. But now we're seeing Bitcoin
projects say, hey, it's actually quite easy to integrate Caardano

(04:38):
and open up liquidity and defy there. So why not
They're now doing this, and we're going to see more
and more of these type of projects opening up to
the Caardana space. So awesome stuff there from the Tap
Taparoos swap platform. If you want to learn more about
the TAP protocol, I'll put a link down below to it,
but you can get to their x profile at tap

(04:58):
underscore protocol. This is their profile here. You can also
get to their website to find out a little bit
more how they integrate in DeFi on the Bitcoin ecosystem.
So a lot of really cool stuff there to learn
about as well. Now, what about the Candana ecosystem. DeFi
here is absolutely blossoming. There's certainly a lack of activity
at the moment, maybe because the price possible, price appreciation

(05:20):
of AIDA and people holding onto the ASA. It's very precious.
So the DEXes are looking at different ways to drive
up the ecosystem and this is really cool. So first off,
MINSWAP removed batcher fees, so this is lowering the fees
to interact with the MINSWAP decks and then faster trading,
so they implemented instant swaps. This has chained transactions so

(05:44):
you can do one swap after another within the platform,
and that will allow you to trade as fast as possible,
so reduce fees, faster swaps on the platform, and what else,
pumping the minswap price. I don't know how they're going
to do this. There's lots of theories and lots of
ways that I can I could theorize, lots of ideas

(06:05):
I could theorize, one being an implementation of babel fees.
Now babel fees for those that don't know, it's the
ability to pay the transaction costs on the Cadama ecosystem
with any token out there. I'll mentioned this in one
of my other videos where I've talked about the babel
fees implementations by fluid tokens called Aquarium, and it could

(06:27):
quite possibly be a way that the Mint Swap team
could could utilize and give more utility to the Mint
token by using babel fees. So now when you're doing
a swap on the minswap decks, instead of using your Aida,
you'll be using Mint tokens. So now you'd be using
Mint tokens to pay for those transactions, and that will

(06:48):
go back to their treasury, so essentially buying up or
because it's being used it's going back to the treasury there,
so it could reduce the supply of mint tokens with
the ecosystem because it's going to minsot treasure to pay
for fees and could possibly pump the price that way.
That is one idea. That's one theory. You could also

(07:08):
burn tokens. They've done token burns before, so there's lots
of different ways and different mechanisms that could possibly be
to make the price of the mintoken go up. But
I think babel fees is probably the way that they're
going to do this. They've left no clues, so we
have absolutely no idea. I've gone through this thread to

(07:29):
try and find out what they might be doing, but
I do believe the implementation of babel fees might be it. Now.
This is an update from one Chain, and one Chain
is probably the biggest bridge that's moving assets to the
Candona ecosystem, and they have been working with the Cadano
blockchain for quite a while, like a long time, and

(07:51):
they open up more and more assets. So now they're
connected up to eighteen different chains, thirty different assets, and
secured over sixty million of USDT and USDC cross chain
volume on through their chain back and forth from Kadano,
so this is really cool stuff. They collaborate Minswild liquid
Finance and Indigo Protocol to bring in more yield opportunities.

(08:12):
For example, you can bring in USDC from any of
these other chains down here over to liquid Finance and
provide liquidity on that platform and earn an APR of
twenty percent over twenty percent. Can't remember the details quite
at this point in time, but last time I looked
it was twenty one point something percent, but I think

(08:34):
it's around twenty percent now. These are all the ecosystems
that they're connected to. So if you have any stable
coins on Arbitrum, ast Avalanche, Base, et cetera, there's a
lot lots here. There's eighteen of them. You can move
those assets over to the Cadana ecosystem and start start
trading and participating in defive there. So there's lots of

(08:54):
opportunities here that you can take advantage of. So that's
really cool. One chain have always been a bit order
of the Condana ecosystem. This update here is from Strike Finance,
and I'm really annoyed I didn't buy the strike token
in my DeFi bag building Episode two weeks ago, because

(09:14):
if I did, I would have doubled the amount of
EIGHTA that I had at this point in time. But
that aside. The strike protocol team I've been doing amazingly well.
Over the last seven days, they've made twenty eight thousand,
six hundred and thirty four to eight in fees. The
next highest decks made thirteen thousand, eight hundred and seventy two.

(09:36):
That's probably MINSWAP during the same amount of time. Now
user liquid deposits will be opened up this week, but
this here gives you a bit of an insight into
how much fees were generated. Oh okay, it was Splash
that made that many fees and minswap was less than that. Wow, okay,
SOL strike finance twenty eight k Splash here, thirteen k

(09:56):
MINSWAP just under twelve k, and so on and so on.
So there's a lot of opportunities here for their strike
team to grow even further. There's a lot of attension
on them now. They've been criticized that there's not enough liquidity.
There's a maximum size limit at the moment as well,
and that is because user liquidity has been opened up

(10:17):
yet they've been adding the liquidity themselves, so soon you
as a user will be able to participate and provide
liquidity on the platform. Man earned fees that way. So
next wave of liquidity has been added. We're pretty much
finished with testing user liquidity deposits and we anticipate it
will be available soon. So I don't have an exact
date on this. This was posted yesterday this particular update here,

(10:39):
so hopefully this week or next week. But they added
in each time they adding more liquidity, it gets maxed
out within a couple of hours because people are seeing
this as a really cool opportunity. And let me backtrack
a bit, so Strike Finance do perpetuals on Kadano. Perpetuals
are a way to do a long or short on

(11:01):
their platform, but there's no time limit. The only thing
you need to worry about is when your contract may
be liquidated. So there's a certain price that aida will
drop to or rise to where you'd be liquidated depending
on doing a long or short. So if you're going
long on the platform, you just got to watch the
price that aida dropping to a certain point where your

(11:23):
contract would be liquidated. So if you are going long
on the platform and you're using leverage, because you can
use leverage on their platforms perpetual into a ten x
leverage go long and you just got to watch for
that price to drop down. But if it continuously goes up,
which you may expect over a year's time, you can
then cash that in at that point and get that

(11:45):
massive gain ten x you're gain depending on what you
put in. So it's a really cool platform and I
absolutely love it. Hence the massive amount of growth at
the moment that we're seeing and the amount of people
jumping in and using it. So far, so good. Strit Finance,
check it out if you haven't done so already. Now,
with the idea of perpetuals and no time limits on

(12:07):
certain contracts, the Fluid Tokens team is now changing that
with lending. So a lot of the lending contracts out
there you do have time limits on things and you
have to pay back your loan by a certain date.
Fluid Tokens is going to change that on the Candana
space by making perpetual loans. So now you can borrow

(12:28):
a certain amount of aida, but you don't need to
ever pay it back until you decide to, so you
can borrow it for as long as possible and open
up that contract that way. So perpetual loans is coming
to the CADMA ecosystem too, So imagine this. Now you
can go to fluid Tokens, borrow AIDA for in definite

(12:49):
amount of time at hopefully a low interest rate, and
then take it to Strike Finance and go for a
long or short position ten x that make a man
gained payback your fluid Tokens loan and then you can
keep the difference there. So lots of crazy opportunities here
for sure. So this will be live on test net

(13:12):
on the fifth of June, so about another week and
a bit two weeks from the time this recrning. But
flud token seam have always delivered some really cool stuff
and we're going to see more of it coming really soon. Now.
This update from opt to Finance I thought was pretty cool,
and they heard that flud Tokens was doing perpetual lending
and they have a big update themselves with eight V

(13:34):
two things that you could see automated liquidity provision, composable
DFIVE protocols, boosted yield for your SO eight and new
source of doubt revenue. So tweaks of that platform and
additional features to utilize loans from flud token. So this
is really cool stuff. If you want to find out more,
make sure you check out the optimfive x account here

(13:56):
and you'll be able to get up to date with
what this platform will be able to do. So this
is still coming soon, this V two of it, but
of course I'll cover it as soon as it's updated.
Now on the deep in side of things, Nouvela have
their Staking test net update. They've got some new updates
UI fixes. If you want to check it out, it's
on their test set. You have to go to their
discord server to get all the links and whatnot. But

(14:19):
they've done more updates this so they automate auto updating
user balances, mobile UI bug fixes, refining error message input validations,
smart staking filters with views, and optimize blending and borrowing UX.
So they've got a fairly simplified staking platform at the
moment which is gone through a to anvil and if
you do have the Nouvula tokens which is all around

(14:42):
the deep inside of things within the ecosystem, you can
stake it there. But I believe these brand new updates,
which I haven't seen yet, will make things even better
for users. So I'm looking forward to these updates and
getting access to it as soon as possible. I don't
have access to the test net myself, so I'm waiting
for the main net launch of this one to be
able to show you guys exactly how it all works.

(15:04):
But NIVA they're doing some amazing things to decentralize the
deep in ecosystem. That's decentralized physical infrastructure networks. So think
about World Mobile with their phone networks, or I Gone
with their decentralized storage. All of that takes technical skill
and costs, and you have to operate and run it.

(15:25):
But having the nuvlotokens and staking it with their platform
allows you to have ownership of their network which they
have set up, or their deep in infrastructure, and then
staking the nuvlotokens will let you earn from that ecosystem.
So really bring the stuff, and their ecosystem is definitely growing,
so do check that one out if you like all
that deep in side of things. Now, this platform here

(15:47):
flow it's another borrowing lending protocol for Cadano and they're
also looking at perpetual loans. They also have a direct
integration that is coming up with Strike Finance as well,
but their main features isolated pools, perpetual loans, and world
class desktop and mobile experience. This is what is going

(16:09):
to possibly look like pretty standard DeFi experience from the
look and feel of it from what I can see here.
But this is going to be tied in directly with
Strip Finance. I don't know how, I don't know what
the experience would be like yet, but as soon as
it's launched and I can get my hands on it again,
I'll let you guys know and I'll show you you
exactly how it all works. But Flow is another one

(16:31):
that's gaining a lot of tension at the moment, so
do keep an eye on that one. The No Go
another borrowing lending protogol. There's a lot coming up here,
and I think it is just the right time for
these projects to launch. But these guys have launched their
fixed pull lending on the platform, so they've got locked
in predictable borrowing rates. So on other platforms the borrowing

(16:53):
rate may be variable. For example, Liquid Finance have a
variable borrowing rate which changes depending on man and the supply,
which is what makes sense to me. But this here
is the opposite to that, where you can know and
have a predictable borrowing rate, and this is kind of
appealing for a lot of people that don't need to
or don't have time to monitor interest rates on their platforms.

(17:17):
So this is a fixed rate, you know what's going on,
you can earn a high yield from it, and of
course it's all powered by Dino smart contracts. If you
want to check this one out, links all down below
few but you can get to it at app dot
no Go, slash Fix, Dash Borrow. But one of the
really cool things that they're doing is that they're enabling
your liquidity pool tokens to be collateral on the platform. Now.

(17:42):
The cool thing about LP tokens, it's made up of
usually two tokens, so you will have EIGHTA and the
other token, whatever it might be, such as World Mobile Strike,
whatever it is. So in that LP you have a
very valuable token and a very spec token. For example,
snack it's mean cooins, so that be very speculative. So

(18:05):
you have those two assets. So that LP now is
quite valuable because it's split into two different assets, so
it's not like you're putting in the LP of all
snack and it might go down and your loan be
liquidated quite easily. Instead, you have some AIDA in there
backing it up too, so it's a nice liquidity collateral

(18:26):
for loans, and having that on their platform opens up
more DeFi opportunities. Not many platforms allow for the LP
tokens to be collateral, and I think it's a brilliant idea.
I don't know any other Cadano Native project that has that,
and Donogo may very well be the first one. So

(18:46):
awesome stuff from the Dango team. This isn't launched quite yet.
They posted this up just yesterday, so we should see
this one by the end of the week hopefully again.
When it's live, I'll show you guys exactly how it works. Now. Now,
why this is really cool is because I've got LP
tokens on various other DEXes such as mint Wap and

(19:07):
Wing Riders, and the rewards there might be okay, the
finding rewards might be oka that I've locked into, but
the rewards here for providing collateral might be even better.
So I can have a better return on my LP
tokens depending on what yields are here on Tonogo. So
something really cool that they've come up with and I
can't wait to check it out now. Stuff dot Io

(19:29):
or book dot io is a brilliant platform where you
can mint digital assets such as books, audio, books, all
that kind of stuff. So it's hence it's called stuff
do io. But this is really cool, And what they're
doing here now is one they're burning. They're fifty percent
consumed to earn supply. So when you use the platform

(19:53):
and you're reading a book, you can get rewarded for
consuming that particular book, going through and reading it, and
you get the stuff token within your wallet. So one
thing they're doing is reducing that supply, so there'll be
less of that available for users that to use the
platform and read books and whatnot, so there's be less

(20:16):
of that, so it's suddenly becoming more desirable to have
the stuff token at the moment, even before the boot.
So that is one thing that's pretty cool. But then
the other thing that they mentioned here is a brand
new layer to decentralized media storage solution. Hmmm, that's interesting.
So obviously this storage solution is something they're going to

(20:37):
put in place to power the storage of their digital assets,
their music, their audio, books, their books, whatever is being
stored on their platform, they need to put it on
some sort of decentralized storage. Now. I thought this was
interesting because there are so many decentralized storage solutions out

(20:58):
there already. I got thing file coin. You know, there's
all these platforms out there, but they're making their own
L two solution for this. So I thought this was
quite interesting. And I don't know why they're doing this,
why they're wanting to compete with other ones out there,
especially when there's Igon that's already built on Candano. They've
got all these fliantcy levels and they are going out

(21:20):
to build another one out there to compete against them
for their own stuff. Okay, maybe there's a good use
case for this, I'm not sure, but it's pretty interesting
to see what's happening in that decentralized storage space. There's
another project as well, board my Bell announced a couple
of weeks ago that they're doing decentralized storage two. So
there must be something going on here, some bigger macro

(21:44):
thing that I'm not aware of about decentralized storage that
all these projects are tapping into. Something to keep an
eye on. Now. The AI space on Candano is also
ramping up and Service have their AI agent launched on Discord.
So the service team do risk ratings, they do indexes

(22:05):
on the Cadana ecosystem, and lots of really cool things
that allow you to make better decisions within the trading space.
So if you're coming into the ecosystem for the first time,
you can ask their agent, based on their risk analysis
profiles on all the tokens in the ecosystem, what might
fit your strategy in terms of speculative assets. And you

(22:29):
can use their AI agent within their Discord server now,
so if you have a Discord account, follow the links
down here, jump into their Discord server and you'll be
able to work out and interact with their AI agent
to find out it's exactly what might be your next trade.
So that is really cool stuff that the service team
are doing. Now think AI. They've been pushing hard with

(22:54):
their AI side of things, and they're using some tools
that I'm using as well, including block Frost and the
tap tools API. But they're also integrating in an MCP
powered Ask Anything on Kadano and this will allow you
to do all sorts of trade analysis within the platform. Now,
what is MCP. It's model context protocol and it's a

(23:18):
new open standard that standardizes how AI applications connect with
external data sources and tools. So this standard way of
communicating is what they've built now on their platform. It's
essentially a way for AI models, like large language models
to access and interact with the world beyond its own
knowledge base. Think of it as a USB C port

(23:40):
for AI. It's a nice way to explaining it. So
with this, you'll be able to tap into and get
information from Blockfrost. So this is on chain data and
tap tools ecosystem using their AI platform. So now it
can you can ask anything on the platform deeper into

(24:00):
what's happening on Caadano because it can now get that
information and search it for you. So it opens up
a lot more data to the platform so it can
make better analysis. Really cool stuff there from the Sync
ai team. Now, in terms of events, there's some really
cool events happening at the moment and coming up really
soon is Berlin Blockchain Week and there's a couple of

(24:23):
events that's happening around that. Eureka Events is holding a
session here and it's a day of ideas and discussion
around decentralized digital comedy governance and scaling Solutions still got
a link here, so if you are going to Berlin
Blockchain Week, you can come along to this particular event here.
We also have the ndmaker team running the next Kadano

(24:46):
hackapon and Networking event with a prize bowl of fifteen
thousand USD. So this one's pretty cool. So if you're
building the Kadano ecosystem, or if you're just more broadly
just interested in development and you may be able to
team up with other devs there, you could tap into
that fifteen thousand USD prize pool. So that's on the

(25:06):
thirteenth to fourteenth of June next month, so if you
want to be a part of that, you can RSVP
on this particular link here. It's on Luma. Check that
one out if you're interested in participating. So it's really cool.
There's one hundred and twenty four people going at the moment,
so there's definitely going to be a lot of teams.
For me, the coverage that I saw from last year's

(25:28):
event was really good. They n maker know how to
put on an event. I have to say that they
get help and sponsorship from the Cadana Foundation, IG and
Americo as well, I believe, but they put on a
really good event last year. So if you want to
be a part of this and learn a little bit
more about how you can get into and possibly tap

(25:49):
into this prize pool, check out the links down below.
Guys and Newcastle putting on the music festival again. So
this is a collaboration partnership between Project new which do
the decentralized rayties and ownership of music on their platform,
and they're doing another music video festival, so this is back.

(26:10):
They've got ten k usd in prizes as well. You
can submit a video a music video by the the
fifteenth of July, so two months time, and you can
check out some other previous music videos that had been
created as well. But I thoroughly enjoyed last year's event.
You can buy a ticket online as an NFT access

(26:32):
their portal and watch all these really really cool creative
clips that are created by the community. So this is
a really cool event. Absolutely love it, so awesome to
have it back again this year. Really good stuff Newcast.
Now this one here is a bit of a shout
out for this particular event. Here. This is as Techa
twenty twenty five in Mexico, so this is a blockchain
orientated event in the Latin community, and Octavio mentioned this

(26:57):
one to me, so I'll just give him a shout
out for this particular. Then it's good to see more
Kadana projects out there connecting networking and it's really pushing
what Kadana has to have. And this is a big
shout out for David here. And he's been working on
the ndmaker SDK integration for go dot engine. What's go dot?
Go dot is a software development language for building two

(27:20):
D three D games and it's really cool what you
can do with it. I've been wanting to spend more
time to actually build a platform game with go dot.
It looks really really easy, but I don't have the
time for this. But this kind of screenshot here gives
you an idea. You can build like these platform games
like this. But what David has done is he's integrated

(27:42):
in the nmaker SDK software development kit, So if you're
building a game on dot go dot, you can integrate
in NFTs and minting and whatever it is with ndmaker.
So you may be going through a level of a game,
for example, you achieve an unlock and you automatically mint
an NFT, or you have a character and it collects

(28:06):
a unique sword. You can get that sword and sell
it on the marketplace, or you can buy a brand
new sword for that character and put it within the
game and it allows you to get through a particular
level more easily. So lots of really cool stuff there
that you can do now with this particular software development kit.

(28:27):
So awesome stuff there. Thank you David for putting the
time and effort into that. This was a Catalyst sponsored proposal.
If you're interested, I'll try and find the links and
i'll put in the show notes down blow for you guys. Now,
this one here is a big shout out for Badegga Markets.
This is another project that I absolutely love and this
particular game here. So this is the state of origin.

(28:47):
This is a rugby game here in Australia and it's
New South Wales versus Queensland. This has been an ongoing
rivalry for like thirty years or something like that. But
they come together play various games throughout the year and
you know the best of three wins the origin for
that particular year. So this is coming up at the moment.
This is game one. I think that's this is tonight

(29:09):
this particular game. Let me just check the date on
this one. Yeah, and this one closes in five hours,
so the game is tonight. So pretty cool that you
can now bet on those particular outcomes on Bedega markets.
I'm actually betting on this one here. This is Ussek
versus Dubois in the undisputed heavyweight fight coming up next month.

(29:31):
So look, some other people have participated as well, So
I've put in some aida on this one and some
other people have started to as well. But it looks
like we're all betting for Usek to win. But you know, whatever,
that's the way it is. I think he will win.
But you know, if someone else comes in and puts
in a bet on a duboir or drawer and that's
the outcome, they'll take all my aid. So that's how

(29:53):
the platform works. So pretty cool stuff. So big shout
out to Bedego markets there and those particular bets. All right, guys,
that's all I have for this particular news update. A
big shout out for on my channel members as well.
Without your support, I can't keep this kind of stuff,
this content at great and going, so thank you so
much for being a channel member, You guys absolutely rock.

(30:13):
If you do want to be a channel member, it's
just a cost of a cup of coffee on a
monthly basis, no obligation to be a member. It's just
for those people that want to take that extra step
at support for work I do, so you guys absolutely rock.
But if you can hit that thumbs up on the
way out and I'll see you guys in the next video.