Cardano DeFi Just Got Its Biggest Push Yet

Episode Transcript
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Speaker 1 (00:00):
Everyone, I've got a big Kadana news update for youel
We've got news around the orin fun, the vcs are
coming into the Kadana ecosystem to try and build up
all these protocols that are building, but then also news
about our for growth, what their plans are with Kadano
Prime to elevate the DeFi ecosystem as is. We've got

(00:21):
a whole bunch of news updates in general as well,
So let's get into it.

Speaker 2 (00:25):
Everyone. My name's Peter.

Speaker 1 (00:26):
If it's your first time here at make sure you
hit that thumbs up light subscribe notification bell. I'll keep
you update with everything that's happening in the Kadano ecosystem
right now, and there is definitely a lot happening. So
let's go into these news updates. And the first one
here I just have to mention, and this is around
some weird behavior that we're seeing with Second.

Speaker 2 (00:47):
Five what used to be the euroi wallet.

Speaker 1 (00:51):
We're now seeing a few users having their wallets drained
and there isn't a specific pattern behind all this other
and these users using these wallets through the Second five app,
I believe it's on their mobile, So this is just
a public service announcement. We don't know what's going on
at the moment with these particular wallets, but we do

(01:13):
know that something is happening, and just be cautious in
regards to what you do and how you interact with
various DeFi protocols. We can see quite a lot of
USDC being bought up with these wallet balances, so the
hacker or the scammer is essentially just liquidating everything in

(01:35):
the user's wallets and turning it into USDC, and you
can see a lot here. We saw a massive spike
and price fluctuations with the USDC as well, and it's
because of these interactions here that we've seen. So just
a public service announcement for you guys. We don't have
anything confirmed or concrete in regards to it, but something
just to be aware of.

Speaker 2 (01:55):
This next new story I.

Speaker 1 (01:56):
Want to bring up is iog's brand new media strategy
push into creating content for the CANDNA ecosystem, and this
is through I think it's called B fifty four or
B fifty yeah forty five. Block forty five got that
name totally wrong, but you can check out the full
episode that they've just posted up. It is with Lily
and Paul so to OG's in the Canduinda ecosystem. But

(02:20):
let me just play this clip for you guys, so
you have a little bit of a sample of what
they're producing here.

Speaker 3 (02:25):
You cannot reach the twenty thirty vision without layer Simply,
the current protocol is not capable of giving you the
twenty seven million transtructions a month that the vision demands.
If we want to achieve that goal, we need we
need this solution. And well, there's another aspect of it,
which is the economic aspect. The reserves are the plitting

(02:46):
So if you want the network to be sustainable in
the long run, you need the system to leave on
transaction fees and for that for SPOS to be profitable
on transaction fees unitly.

Speaker 1 (02:57):
Okay, that's pretty good, So it's not too overly technical,
which is probably the really good thing here, and talks
about the delivery and strategy of getting to CADNA twenty
twenty twenty thirty, so all the things that we need
to do to bring us up to enough transactions to
keep the ecosystem sustainable. So there's a lot of work

(03:19):
that's happening around that space at the moment. A lot
of projects that are pushing for it, so good awesome,
brand new episode and focus. You may have noticed a
Kadano three sixty, the regular media that comes out every
month from IOG hasn't been coming out recently, and it's
because they're transitioning to something new. Coadna three sixty has

(03:39):
been going on for years and it's used to be
a staple for a lot of people. But you know,
times change, you need to mix things up, have to
try new things, and Block forty five is probably a
good move to see how we can mix these things up,
get more interest and get more people watching a Cadana
related content, so awesome stuff like toy See where this

(04:00):
one goes. So this next new story I want to
bring up is Draper Dragon's Adventure Studio Commenter Labs, and
these guys are being brought into the Candana ecosystem to
work alongside projects that are building in Candana to try
and propel them and push them forward in DeFi Crypto
in general, and they've introduced the team. Now, I haven't

(04:21):
listened to this x space yet, but if you want
to come on board and check out what they're talking about,
play this recording here. I'll put it in the links
in the show notes for you guys, but I will
listen over this one as well pull out.

Speaker 2 (04:34):
Some highlights for you.

Speaker 1 (04:35):
So it's going to be interesting to see who they
have brought in here so they can start to elevating
some of the protocols that are building within the Candana ecosystem.
They have access to this eighty million dollar fund with
the Orion Fund, So this was funded by the Cadana
Treasury early this year, but they have access to eighty

(04:57):
million dollars for the Ryan Fund to look for the
next big projects that are building within the Kadana ecosystem
and then propel them forward within the DeFi space. So
this is a really big venture that is hopefully going
to really push Kaddana to the next level. Now, if
you are building something within the Cadano space, you can

(05:19):
check out this post here where they talk about the
Orion Fund. But they're looking for their first new cohorts
to sign up to this program. Here Sowuniversally slash Cardano Programs.
You can check out the website here. They have two
cohorts that are coming in at the moment. They have
the Genesis Hacker House and the Apex Growth Accelerator, So

(05:43):
it's for different tiers and different types of projects. So
the genesis is if you haven't started yet, you've got
a brand new idea, and the growth of Accelerator is
for something that already is existing on Kadana but just
needs that massive push. So they are providing venture capital
here as well, so it's going to be interesting to
see who gets in on this.

Speaker 2 (06:04):
Type of program early.

Speaker 1 (06:06):
So if you are building something, the dates the application
dates are still open to applications due for a Hacker
House on the tenth of July and for the Growth
Acceleration applications due on the first of September, so still
plenty of time to sign up for this and be
a part of the program.

Speaker 2 (06:23):
So I highly recommend that you do.

Speaker 1 (06:25):
If you are building something in the Kadana space, or
if you are building somewhere else and you're interested in
building on Kadano and putting in the time and effort,
there are opportunities here as well to get funding and
to get your name in front of the Cardana ecosystem too. Now,
the other really big story that's come out is our
for growth and these guys I've never really heard of

(06:47):
I've got I had snippets of information about this particular
partnership and what might be happening here. But they are
a DeFi protocol advisor. I think that's the best way
to describe it. But they've been working with a lot
of DeFi protocols in the past to bring in liquidity
and to make it attractive and then make it sticky.

(07:09):
So that's the idea of what our growth have done
in the past, and to feel here it does a
really good write up post about what they're actually trying
to do. So let me just read this out for
you guys for the audio listeners on the podcast. We
reached out to all the top firms in the space.
We went down the roster of the DeFi specialists used
by every defive protocol in the top thirty on DeFi,

(07:32):
Lama Alpha Growth had the most impressive results, relevant campaigns experience,
and demonstrated success taking protocols from square zero to real
market success. It was important to me that they come
into the ecosystem unbiased and they that they are solely
in the driver's seat. The whole point for me was

(07:53):
to bring DeFi experts not based on credentials, but based
on actual market success, real concreteons of making protocols competitive
in the DeFi space. To do this successfully, it's important
that there are no external influences proposals on what is
working here what isn't, So the relationship is explicitly structured

(08:16):
such that's neither ourselves nor others in the ecosystem can
propose anything to them. So an independent DeFi specialist coming
in to look at what the Caadana DeFi ecosystem needs
and supply them and provide them with the right concrete answers.

Speaker 2 (08:34):
So that's what Alpha Growth are planning to do.

Speaker 1 (08:37):
And today they put out this X thread here to
try and introduce.

Speaker 2 (08:43):
What they're after.

Speaker 1 (08:44):
So what they they're introducing this program called Kadana Prime,
and it is it is big. The main thing here
that you want to get out of it is their credentials,
their previous unchain activity that they've driven for a lot
of the other protocols. But then how they're actually going
to execute this on Kadano and it is through a

(09:06):
treasury proposal. And here they've got this website called out
Growth Cardano Prime. You can check this one out here,
put links to it down below, but here they've got
the Treasury request.

Speaker 2 (09:18):
It's not cheap.

Speaker 1 (09:19):
It's one hundred and twenty million eight or nineteen point
two million at sixteen cents to do this defive protocol upgrades.

Speaker 2 (09:32):
So it's it's it's a.

Speaker 1 (09:33):
Phenomenally large amount of AIDA. And it doesn't help that
the price of ADA is at sixteen cents at the moment.
But this essentially from what I understand, and I do
have an interview coming up with these guys, but it's
essentially from what I understand, looking into everything that's not
working on the Cadana ecosystem, changing what needs to be changed,

(09:55):
upgrading what needs to be upgraded to then attract that
liquidity in make it stay for a long time. So
they've done this with other protocols. They've done this on
other chains, and the idea here is that it's going
to happen on the Cadano side of things in a
completely independent way without any influence from the existing Candana
ecosystem or bodies there. So what do you think of

(10:15):
this one, guys? This one's a pretty pretty bold The
current net change limit or the amount of AIDA that
can be withdrawn out of the Cardana ecosystem for this
period is essentially almost maxed out, and now we have
an extra one hundred and twenty million coming in to
try and improve Kadana's DeFi. But you know, if we

(10:36):
don't improve Kardana's DeFi layer now and increase the amount
of transactions on chain, come bull run, we're going to
be really far behind. And we've got all these other
things and aspects that we've got layos coming. You know,
we saw this dedicated video on LAOS. We have layos coming.
We have Paris which should increase the blockchain finality with

(10:58):
layer zero for the cross chain connectivity, PITH for the
oracle side of things during analytics to actually monitor and
see all this happening on chain as well.

Speaker 2 (11:06):
And we also have five blocks coming onto the chain
as well.

Speaker 1 (11:09):
So these are like foundational blocks that we need to
have DeFi like this to have what our growth are
proposing here. And I wouldn't be surprised if OURPHA growth
went you know, look, guys, before we can even approach
and look at your DeFi ecosystem, we need to be able.

Speaker 2 (11:26):
To bring liquidity in. We need PITH, we need layer.

Speaker 1 (11:29):
Zero, We need all these things to actually happen so
that we can actually grow their DeFi ecosystem, and without it,
we can't bring liquidity in. So I wouldn't be surprised
if that was the actual case, and that's why we
ended up with all those particular protocols and fire based
coming in as well. So I'll find out later tonight
when I interview the guys and find out exactly what's
going on here. But this is a very bold, very

(11:51):
very bold proposal here, and I am very interested to
see where this one goes. Let me know in the
comments down below what you guys think. It's quite interesting anyway.
Next news item, So now I've got some Kadana specific
news and this one's here is from Dano Finance and
this is around their global order book.

Speaker 2 (12:09):
I like what these guys.

Speaker 1 (12:10):
Are doing because they're looking at defragmenting the liquidity on
the Kadana ecosystem. So let me try and explain that here.
So let me read through this post. Maybe that will
explain for you guys, Kadana does not have a fragmented
stable coin problem. Swapping ten kus d M or ten
k USDA or ten k usdc x to Aida gives

(12:33):
you almost the same result on Danov two swapping USDM
to ADA will effectively choose multiple audible routes, including us
d M, USDA on DANO and then USDA to Aida
on minswap similarly with that USDC or USDA, so there
will not be a stable cooin monopoly on Kadana anymore.

(12:54):
So what this essentially does, what their platform does, is
just picks and chooses what ever liquidity is available to
get you the end result. So instead of saying, okay,
we can only use USD, we can only use USD
M because that's what the user is you know, depicting there, Instead,
we can use all of the liquidity that's available to

(13:16):
us on the protocols, on all the protocols out there
to achieve the most efficient swap possible. And that's what
they're trying to do here with the global audible.

Speaker 2 (13:26):
So all the liquidity pools.

Speaker 1 (13:27):
You've got some liquidy over here on Sunday swap, over
here on mint swap, we have some locked up on
a borrowing lending protocol or a stable cooin swap, and
we're just tapping into all of those, composing them all
together to construct the best transaction possible for the end user.

Speaker 2 (13:44):
And that's what Dano's doing now.

Speaker 1 (13:45):
I did do a interview with the guys back now,
I think in February, but the video is still in
production and I haven't had a chance to finish editing
that one yet. But if you're interested, hit that like
subscribe notification bell and as soon as it comes out,
the first ones to know done a finance doing some
amazing stuff there. Some of you may already know that taptools,

(14:06):
the premiere analytics dashboards for the condona ecosystem if you're
looking at the price of various tokens, has closed down.
They couldn't afford their burn rate and I believe their
salaries and infrastructure costs to keep the platform running, so
they had to close it down. But there are a
lot of other platforms that are stepping up to replace them,

(14:28):
and one of them is Hosky's Fetch. So this is
the platform that's condoned with Paul and Patty and I
think a few other members as well are behind. But
they've primarily were a dex aggregator and they had their
swaps in their platform. But because taptools has closed down,

(14:49):
they've slowly upgraded their platform to show more data and
more data that taptools had is now appearing within fetch,
and if you haven't used it yet, a highly command
that you at least have a look so you can
see what the replacements are now that taptools is out
of the picture. Now, I tried to spec up and

(15:10):
design a version of taptools as well and run it
in low cost infrastructure, so a Servilus infrastructure that makes
it really really cheap.

Speaker 2 (15:20):
So you only pay for what you use.

Speaker 1 (15:22):
And on cloud flair bandwidth is actually free, so there's
a lot of really low cost options here, and I
mocked one up and I could. I believe I could
get up to one hundred thousand impressions or something on
the mocked up sites without costing me much at or
I think was like five dollars a month, so infrastructure
costs and using AI to build a platform like taptools

(15:45):
was definitely on the cards, and I could have done
that as well, but these teams have already got the
base for it. There was no point of building another
platform to compete against them. But it was a good
experiment for me to just have a look at what
was possible using clawed code to build something out and
it was definitely very very easy to do at a
minimal cost, So there will be replacements. For sure, tap

(16:08):
Tools is tapping out, but there are other platforms now
stepping up, such as Fetch. There are others as well,
and I will mention them in a future video, but
for now, check out to Fetch and what they're doing there.

Speaker 2 (16:20):
The team from Search have been working hard out.

Speaker 1 (16:23):
I've had a chat to them in the past and
they said there their platform wasn't quite ready yet, but
now with Search B two on board, they are now
able to do automated, automated arbitrage trades through their platform.
And now they're connected with four DEXes. They've got Splash,
they got Mincewap, Sunday Swap, Wing Riders and Splash all

(16:46):
integrated in. So what you can do on their platform
is loaded up with a lot of assets such as
USDM or aider or whatever their platform is asking for,
and then arbitrage trade between different trading pairs on cross
all those different DEXes. Because what you'd find when you
visit these platforms is the price of a particular asset

(17:10):
might be slightly higher or slightly lower on one or
the other. What you can do is trade from one
to the other and make it a little bit of
a profit. So if Ada was trading at sixteen cents
on one but then trading at eighteen cents on another,
at two cent difference is enough to make an arbitrage
trade and make a profit off. So you can buy

(17:33):
on the lower price decks and then sell it on
the high one and make a profit from it. And
what surge does. It automates that process. So you put
in some rules and say, hey, each trade needs to
be this profitable. You can trade against these particular protocols
and these trading pairs. Now just go out there and

(17:54):
find those trades for you and do those trades. So
this is the automation side of things, the bot trading
side of things. But it helps stabilizes those prices, and
in reality, there are a lot of arbitrage bots out
there that just do this anyway. That's why you see
all the prices of various assets pretty much stabilized within

(18:16):
the Kadana ecosystem. But this here allows anyone with the
liquidity to be able to do that and makes it
a lot easier. So I will be doing a video
on this as well, so I can learn how to
do it myself, and I can teach you guys exactly
how to do uptrage trading on Kardano DeFi and I
think it's a pretty cool thing to have.

Speaker 2 (18:37):
Now.

Speaker 1 (18:38):
I know a lot of the other ecosystems have it,
They have things like this, but we don't. But now
thanks to Surge, we do now. I mentioned PITH a
little bit earlier, but PITH is that oracle layer that
is introduced into the Kadana ecosystem and they are now
providing their PITH pro price feeds free three year, so

(19:01):
defive protocols that are interested in building something really cool
using the PITH data from their oracle can.

Speaker 2 (19:08):
Now do so for free.

Speaker 1 (19:10):
So this gives you an opportunity to build something of
interest and expand into the Cadano space, but on a
very low cost budget. For example, I build, I am
building some various platforms and I have to pay for
the APIs, I have to pay for the application programming
interfaces and the data that I'm using to be able

(19:34):
to run the platforms. And it's a bit of a cost,
especially when you're not making any money yet and you're
developing and you're trying to build. You're trying to gain traction,
but you have these overheads. Reducing the overhead here that
you would normally get with signing up to something like
pith pro would mean that it makes it easier for
you to start operating building something and then start marketing,

(19:57):
because marketing is a hard part. Once you build thing
and you know it works and you're happy with that,
you need to then get people to use whatever you've built,
and that could take a bit of time, especially if
the market's not doing too well. But reducing your costs
is the big thing here. Like taptools, they probably had
to reduce their operating costs, their staff costs or whatever

(20:20):
by quite a lot to be able to keep that
platform going and monetize it in the long run.

Speaker 2 (20:24):
But here we go.

Speaker 1 (20:27):
We now have the pith side of things for free,
so hopefully we do see more of this type of
stuff made available for the Condona ecosystem for free. We've
got Firebase as well, which is an enterprise kind of
cost cost a lot of money, so hopefully we do
get free usage of that as well, so that enterprise
can start building on there into the Condona ecosystem for

(20:49):
a very low cost too. So awesome stuff to see
that pith pro is now free. Now my last news
story here is the Van Rossom hard fork. Now, this
particularly hard fork was named after Max van Rossom, who
sadly passed away last year October twenty twenty five. Was
part of the Kadana ecosystem, part of the community, did
a lot of work within the governance side of things

(21:13):
as well, and had been a really good voice in
the space. But unfortunately he passed away and this hard
fork is named after him in his memory. So it's
a bit of a tradition. Now, we do lose some
people from time to time, and these hard forks are
now being named after the long standing contributors to the
Cadna ecosystem. Now, this is an intra era hard fork,

(21:36):
and it introduces some of the groundwork that's needed for
the next major era, which is Dijastra, and this is
what is needed to bring in LAOS and that's scaling
for the Cadana ecosystem. So it's a needed hard fork,
the first step into approaching a super size scaling for

(21:57):
the Cadona ecosystem. So we'll see some citing developments later
this year, and of course another hard fork so really
good stuff. Now, if your SBO, your state pool operator
hasn't upgraded to the latest version of the Condino node
eleven point one.

Speaker 2 (22:16):
Get them to upgrade. Get them to upgrade.

Speaker 1 (22:19):
This website here pooltool dot io will let you know
what protocol, what version of the node each pool is
running as the blocks are being minted, So every pool
needs to be on protocol V eleven, version eleven. If
I scroll down this list here, I can see most
of these pretty much all of these are now on

(22:39):
version eleven, and that kind of signals that the network
is ready to be upgraded to the latest version for
this particular hard fork. And I can see the last
ten here they're all on the correct version, which is
really good to see. Now, if we go to network
health here, we'd be able to see at a glance
here what the percentage is. And we can see here

(23:01):
the node reporting version eleven point zero point one, so
not eleven point one, eleven point zero point one. Is
that sixty eight percent And that's pretty much the majority
of the pools out there. So what you're really interested
in is the blocks produced by which protocol, and that's
this particular paragraph here, so we can see that eighty
six percent of the blocks being produced on the Candona

(23:23):
ecosystem are of that latest version, which is really good.
So if we get that up to ninety percent or
ninety five percent, it's pretty much of all the major.

Speaker 2 (23:33):
Blocks out there.

Speaker 1 (23:34):
Now if a if a pool isn't upgraded to the
latest version and is minting blocks on an older node version,
they won't be included, and I believe they won't get
rewards for it either. So it's important that your pool
that wherever you are, whatever pool you're delegated to, is
minting the correct versions, otherwise after this hard walk, they'll

(23:57):
be left out of the network. Now my pool eight
to oz is upgraded, we are minting the right blocks.
Propagation delays will show it here. You can see the
latest protocol version version eleven there, so you can see
what protocol your pool that you're delegated to is minting on.
Just go to pool explore on the left hand side here,

(24:18):
type in the pool that you are looking for, click
on next the details there and you'll be able to
see under blocks propagation delays which version they're minting at.

Speaker 2 (24:27):
So do check that one out.

Speaker 1 (24:29):
If you can contact your stateboard operator and if they
haven't upgraded yet, get them to upgrade and they'll be
able to participate after the hard walk as well.

Speaker 2 (24:38):
Right, So that's it for this particular news update.

Speaker 1 (24:40):
A lot of interesting news updates around the Orion Fund
and what Alpha Growth are doing, and if you want
to be kept up to date with all that kind
of stuff, make sure you hit that thumbs up light
subscribe on your way out. YouTube memberships down below, I've
got to buy me a coffee links down there as well.
Great way to support the channel, But like alwise, you
can just hit that thumbs up does absolute wonders or

(25:01):
even leave a comment that does even more wonders for
the YouTube algorithm. Like always, guys, stay positive, I'll see
you in the next video.

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