July 3, 2026 • 33 mins
In this Cardano ADA news update, Peter covers the latest SecondFi recovery steps after the Yoroi/SecondFi wallet incident, including the asset recovery checker, support ticket process, hardware wallet migration guidance, and the temporary pause on Midnight Glacier Drop redemptions.
The episode also looks at Open USD, Brale, and the Cardano Foundation's pathway into the new stablecoin standard, plus the upcoming Catalyst pilot around stablecoins, programmable tokens, and on-chain identity. From there, Peter digs into Cardano's DeFi activity problem, treasury funding debates, the proposed 500 million ADA net change limit, Cardano Prime, and why DRep delegation matters for the next phase of governance.
This is an ecosystem update for ADA holders who want to understand what is changing across wallets, stablecoins, DeFi, treasury funding, and Cardano governance without the hype.
Chapters:
0:00 SecondFi Recovery Update
6:31 Open USD Stablecoin Standard
10:15 Brale And Catalyst Links
14:56 Cardano DeFi Revenue Debate
21:49 DRep Priorities And Proof
24:43 Treasury Net Change Limit
27:01 Cardano Prime Proposal
31:30 Find A DRep
32:20 Wrap Up
Key Takeaways:
- SecondFi has released an asset recovery checker and is directing affected users to submit support tickets while avoiding transactions from potentially compromised wallets.
- A 16 million ADA recovery fund has been allocated for users affected in the initial SecondFi wallet drain, while White Hat recovered assets are being held separately.
- Midnight Glacier Drop redemptions are temporarily suspended as a precaution while the SecondFi recovery and wallet mapping process is resolved.
- Open USD brings major payment companies, banks, and crypto infrastructure providers into a new stablecoin standard, with Cardano connected indirectly through Brale.
- The Cardano Foundation's Brale relationship and the upcoming Catalyst pilot could create a route for OUSD, stablecoins, programmable tokens, and identity tooling on Cardano.
- Cardano still needs far more on-chain activity and real revenue-generating dApps if transaction fees are to support stake pool operators over the long term.
- The proposed 500 million ADA net change limit may shape whether major initiatives such as Cardano Prime can receive treasury funding.
- DRep delegation remains important because treasury funding decisions are increasingly tied to DeFi, infrastructure, and ecosystem growth priorities.
Links & References:
SecondFi Update:
- https://link.learncardano.io/z...
Move to a Hardware Wallet:
- https://link.learncardano.io/2...
- https://link.learncardano.io/d...
SecondFi Checker App:
- https://link.learncardano.io/T...
Midnight Redeem Halted:
- https://link.learncardano.io/4...
- https://link.learncardano.io/Y...
Open Standard:
- https://link.learncardano.io/y...
- https://link.learncardano.io/O...
- https://link.learncardano.io/S...
Cardano Foundation and Brale:
- https://link.learncardano.io/t...
- https://link.learncardano.io/8...
Cardano Catalyst:
- https://link.learncardano.io/O...
Cardano Revenue:
- https://link.learncardano.io/n...
Transactions:
- https://link.learncardano.io/W...
Phil on Chain:
- https://link.learncardano.io/B...
New Net Change Limit:
-
The episode also looks at Open USD, Brale, and the Cardano Foundation's pathway into the new stablecoin standard, plus the upcoming Catalyst pilot around stablecoins, programmable tokens, and on-chain identity. From there, Peter digs into Cardano's DeFi activity problem, treasury funding debates, the proposed 500 million ADA net change limit, Cardano Prime, and why DRep delegation matters for the next phase of governance.
This is an ecosystem update for ADA holders who want to understand what is changing across wallets, stablecoins, DeFi, treasury funding, and Cardano governance without the hype.
Chapters:
0:00 SecondFi Recovery Update
6:31 Open USD Stablecoin Standard
10:15 Brale And Catalyst Links
14:56 Cardano DeFi Revenue Debate
21:49 DRep Priorities And Proof
24:43 Treasury Net Change Limit
27:01 Cardano Prime Proposal
31:30 Find A DRep
32:20 Wrap Up
Key Takeaways:
- SecondFi has released an asset recovery checker and is directing affected users to submit support tickets while avoiding transactions from potentially compromised wallets.
- A 16 million ADA recovery fund has been allocated for users affected in the initial SecondFi wallet drain, while White Hat recovered assets are being held separately.
- Midnight Glacier Drop redemptions are temporarily suspended as a precaution while the SecondFi recovery and wallet mapping process is resolved.
- Open USD brings major payment companies, banks, and crypto infrastructure providers into a new stablecoin standard, with Cardano connected indirectly through Brale.
- The Cardano Foundation's Brale relationship and the upcoming Catalyst pilot could create a route for OUSD, stablecoins, programmable tokens, and identity tooling on Cardano.
- Cardano still needs far more on-chain activity and real revenue-generating dApps if transaction fees are to support stake pool operators over the long term.
- The proposed 500 million ADA net change limit may shape whether major initiatives such as Cardano Prime can receive treasury funding.
- DRep delegation remains important because treasury funding decisions are increasingly tied to DeFi, infrastructure, and ecosystem growth priorities.
Links & References:
SecondFi Update:
- https://link.learncardano.io/z...
Move to a Hardware Wallet:
- https://link.learncardano.io/2...
- https://link.learncardano.io/d...
SecondFi Checker App:
- https://link.learncardano.io/T...
Midnight Redeem Halted:
- https://link.learncardano.io/4...
- https://link.learncardano.io/Y...
Open Standard:
- https://link.learncardano.io/y...
- https://link.learncardano.io/O...
- https://link.learncardano.io/S...
Cardano Foundation and Brale:
- https://link.learncardano.io/t...
- https://link.learncardano.io/8...
Cardano Catalyst:
- https://link.learncardano.io/O...
Cardano Revenue:
- https://link.learncardano.io/n...
Transactions:
- https://link.learncardano.io/W...
Phil on Chain:
- https://link.learncardano.io/B...
New Net Change Limit:
-
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, guys, a lot of big news updates in
the Cadona ecosystem. I'm going to fly through these and
tell you exactly why these particular updates matter for you
as an AIDA holder. They all have quite a bit
of impact for you, so let's go through them. The
first one here is the update around Second five. So
this used to be EUROI. They rebranded Second five and
if you were using their wallet, you may have been compromised,
(00:23):
or you may be already know that you've been compromised
and you're waiting for the process to be updated here.
So they do have a big updates. If you have
been compromised, if you have been using the app, make
sure you submit a support ticket to support. Dot second
five dot io links down blow for you guys. But
they have a asset recovery checker now checker dot second
(00:45):
five dot io. This is what it looks like here.
If you have your wallet address handy, let's say you've
restored it in another wallet and haven't used it. That's
really important. Or you have your address save somewhere else,
you can use that here and check if your wallet
has been compromised or not. It's really important if you
do restore on another wallet app that you don't do
(01:07):
any transactions because that is what will reveal your signing
keys and let the hacker take assets from your wallet.
Do not do any transactions. That's a really important thing here.
But you can use that checker here and verify if
you're impacted or not. It will never ask you to
sign a transaction. Remember that, do not sign transactions on
(01:28):
your potentially compromised wallet. The big thing here They also
have allocated sixteen million eight worth of funds to make
the users that were hacked whole again, that's what it
sounds like. So MERGA has set up a recovery fund
address to return assets to the victims of the attack.
(01:49):
So that is exceptionally good news to hear. They have
an address here where they're allocated those funds, put them
aside so that they can.
Speaker 2 (01:57):
Distribute to those particular users.
Speaker 1 (01:59):
Now that is specifically for the users of that sixteen
million eight in the initial hacks, not the one hundred
and twenty nine million which the white hat hacker did afterwards.
So now, notably as it's recovered by the white hats,
including the fourth event, are accessible and safely held. So
a lot of those assets will be returned to users
(02:20):
through the recovery process, so it's important that you don't
delete the app because that will be your key to
the recovery process. Now, the team also said they'll be
at WebEx in Tokyo, so if you happen to be
in Tokyo, I know a lot of users that use
Uroi Second five are Japanese, so if you are in
that area, you can talk to the team directly.
Speaker 2 (02:41):
You can shout at them, you can abuse them. Don't
abuse them.
Speaker 1 (02:45):
They're working their asses off to get this all back together,
but you know you can talk to them and ask
them how the funds are going, how they're going to
be recovering them and getting your aida back. I know
a lot of people were impacted by in DeFi that
were participating there. I've seen state pool operators that use
the app as well and had their stakepools connected to
their wallet were also affected. So a lot of people
(03:08):
across the broad here have been affected. So it's good
to see that the funds are coming back to a
lot of users here now. Just as a reminder, Second
five will never request private key, seed phrases, wallet credentials,
or access to your wallet there's also email scams going
around at the moment as well, so all communications so
far through Second five have been through x itself and
(03:29):
not through emails, So if you see any emails going out,
it's highly likely it is a scam, so be careful
of that now. The team here at Second five also
have put together a hardware wallet migration guide, So if
you have a hardware wallet such as a Keystone wallet,
if you're not using it, or if you've just purchased one,
highly recommend the Keystone wallet fully air gapped. This thing
(03:51):
is brilliant. You never plug it in. You never plug
it in. It uses QI codes to scan and verify transactions.
You hold it up, you've got this little camera here
on the back here, and you've got a fingerprint scanner
here that will scan your fingerprint, so you need to
verify your fingerprint to sign transaction as well. The camera
will capture the QR code on the wallet, verify the
(04:14):
transaction there, verify it within the app, and then you
have to camera back, so the computer will need a
camera to verify, send that data of the verified transaction
back again as well. So it's a beautiful wallet, very
cool user experience. A lot easier than the legend nano
where you have to press so many buttons. But anyway,
if you're interested, links down below their affiliate lengths, so
(04:35):
it does support the channel if you do buy one
through those links down below, but they're put together the
guide here on how to migrate your assets over to
the hardware wallets if you are happening if you happen
to use one. But they're also recommending that you jump
over to different wallets as well at this point in time.
(04:55):
So I think they mentioned here a lace lace wallet.
I can't remember where I saw it, but you will
need to restore it in a different wallet application, and
Lace is probably a good one to use. So a
lot there happening from the second five team. Another big
mention that I should tell you about is the midnight
redeeming process. So a lot of users in the comments
(05:19):
of my channel have asked, what about all of my
midnight tokens, my night tokens that I mind through EUROI
what happens to them at the moment? They're all being paused,
So anyone that is trying to redeem through the Glacier
Drop will not be able to They will have to
go through and wait for this whole process to be
(05:39):
cleaned up, because I believe they'll be mapping the addresses
of the compromise wallets to the new ones after second
five go through this entire process and work out who
owns what wallet now, So it's going to take a
little while. The Midnight team have put out an official
notice about this as well, being temporarily suspended until this
(06:03):
whole drama is sorted out. So if you're expecting Midnight
tokens night tokens and want to sell, unfortunately not at
this point in time because the whole process is locked
down at the moment. But we'll see that back up
again very soon. So that's everything around the second five
side of things. Hopefully it gives you guys some clarity
about what's happening around the second five side of things.
(06:26):
Remember there are scams going around, so be very mindful
and vigilant out there. Next really big news story that
could have some big impact on the Kadana ecosystem is
open USD. So this is a huge, brand new open
standard for stable coins in the crypto space, but not
just crypto, it's payment rails overall. So this is going
(06:49):
to have major impact if everyone behind it can manage
to get off the ground and utilized and actually used
within the ecosystem. And they have a lot of promise here.
And let me just bring up all the logos and
all the teams, all the companies that are a part
of this, and this is huge. Just look at this,
(07:11):
besides the major payment processes from around the world. Just
from an Australian point of view, this is huge. We've
got Commonwealth Bank, We've got NAB, we have A and
Z and Westpac. They're the big four banks here in Australia,
the biggest four banks that make more profits than any
other banks around the world. I think that stats right.
(07:33):
But they're big, big banks here, and they're extremely profitable
because they make a lot of money off of their consumers.
But if you look at this banner of logos here,
you don't see anything Cadano related. And I'll talk a
little bit more about that in second, but let's just
jump back to the big announcement here from open Standard.
(07:56):
So the whole point of open Standard is that there
are still problems, as they say, when using stable coins.
And I you know, I'm not a stable coin issuer.
Speaker 2 (08:06):
I don't.
Speaker 1 (08:08):
Work within the stable coin space. I don't do huge
amount to remittance payments, so I don't know the problems.
Speaker 2 (08:13):
But these guys do. So here we go.
Speaker 1 (08:16):
Still, the whole process here still faces significant hurdles with
fees to mint, fees to redeem the stable coin assets,
and it becomes expensive and especially with large volumes, and
they aren't always benefiting from revenues earned from the underlying assets.
Speaker 2 (08:36):
So we know this, we use USDC.
Speaker 1 (08:39):
The only place you can really earn from holding USDC
is on Circle, so it's kind of like a closed
ecosystem there. If you want to earn the yields from
the underlying assets that make up USDC, you have to
do it via their app, their coin base, so you know,
(09:00):
it kind of locks you into their ecosystem and isn't
beneficial if you want to move somewhere else, a different app,
whatever it is. So this is opening up the whole
ecosystem there. Then third the third issue here at developers
have a little recourse if the roadmaps of third party
issuers do not meet their needs. So that's very true.
So if any of these companies here wanted to build
(09:22):
upon USDC their ecosystem, they may not benefit from anything
that they actually build. Their payment's great, you know, fast
payments whatever. But because the Circle team own everything, they're
the ones that really benefit in the end. So it's
kind of like a decentralizing the benefits and the reason
(09:43):
why to build on a step coin protocol. Now, if
we go down here, what else do they say? Businesses
need something that's opened, low cost, high thoroughput, broadly accessible
and aligns with their interests.
Speaker 2 (09:56):
Cool.
Speaker 1 (09:57):
Now, these are all the companies themselves, so they've listed
all of their names here from all the banks or
the institutions or the big tech companies and all the
crypto players. Now in the crypto players here we see Solana, Great,
five Blocks, Gemini, Meta, mass call E Torow big names there.
Don't see Kardano at all. Where is Kadano in this?
(10:21):
And why weren't we brought to the table? Are people
working with them? Are people in contact with them? When
this news came out, a lot of people were criticizing
the founding entities for not being connected or having relationships
with these partners to actually make this happen. And it
(10:44):
may be lack of business development, maybe lack of connections.
It may be the historic view of Kadano that is
hampering things here, but there is a glimmer of hope.
Speaker 2 (10:55):
And I've highlighted.
Speaker 1 (10:57):
Here with this company here called Braille, and I had
to look into this one here, So Braill, this is
announcement from the Cadano Foundation. After all this stuff with
Open Standard, we welcome the announcement of OPENUSD and our
partner Braille as a launch partner. We're exploring other integration
options also, and we'll share more in due course. So
(11:21):
the Kadana Foundation doesn't have a direct connection with the
Open Standard, but through their partner Brail here they do.
So who on earth is Brail and how will this
impact Kardano? So this is Brail here. It is a
financial company, financial technology company building tools that help businesses
create and manage their own stable coins. A stable coin
(11:43):
is a blah blah blah. Okay, they their infrastructure for
stable coins. Can find out a little bit more about
them at Brail dot xyz. Looks like they're pretty well
established and supporting lots of change with lots of billions
billions in transactions through the platform.
Speaker 2 (12:00):
It looks like a good.
Speaker 1 (12:01):
Solid partner for the Dina Foundation to have partnered with
to actually make this open standard thing possible. So we
aren't exactly being entirely left behind. We do have a
connection and it's through this predictar particular partner here of Braille.
Now where is this going to go? How are we
(12:22):
going to be impacted by this? Who's going to build
on this when we barely know anything about it? Luckily,
here Project Catalyst is kicking back in this summer and
they're launching a mini pilot here two million eight not
much aid at all. I think that works out to
be roughly about two hundred and fifty thousand or three
(12:43):
hundred thousand USD at the time recording this, maybe a
little bit less actually, But the scope of this particular
pilot will look at particular categories of submissions PITH and
that's the oracle things. But they also mentioned here Braille
(13:04):
and that is the partnership that the Kadana Foundation has
to potentially build on Open Standard. So that is really cool. Okay,
so there is some impact here. We will potentially see
Kadano DAPs integrating in via Brail to get connected with
Open Standard and have o USD brought onto the Kadana ecosystem. Okay,
(13:31):
So potentially more stable coins on the ecosystem, a little
bit more fragmentation there, but we can work things out.
It's we're not completely left out of the loop here,
at least the other things that are coming out of catalysts.
We got the stable coins proposals, so any project that's
building on stable coins usdc X or cardon natives such
(13:53):
as USDM, USDA, et cetera, et cetera. We also have
programble tokens and then on chain identity. So technically these
three really linked together nicely, these Braille stable coins and
programble tokens to all around being able to comply and
align ourselves in the stable coin ecosystem with freezing of
(14:15):
assets and locking assets to addresses. So if we had
more of this programmable token ecosystem on Kadano, we could
possibly have stopped hacks like what we saw with second
five and that sixteen million million eight that was converted
to usdc X. We could have seen a lot more
(14:36):
of that blocked and recovered quite easily. But we're not
there yet, and a lot of DeFi maxis don't really
want that either. But anyway, we have a good outlook
here for open standard, so I'm looking forward to seeing
what happens there. Next new story I want to look
(14:56):
at is some debate in the Cadina ecosystem about revenue
and where DAPs are getting revenue from and how and
where we as a CADNA ecosystem should be spending and
focusing our time and treasury funds. So decimalis here from
flex Points Studios building some awesome stuff. But he mentions
(15:17):
here generating revenue from Kadana user and activity. Hmmm, I
think there's like three doesn't mean three users, Maybe he
does or three DAPs, either of the two. There's not
much activity on chain at the moment. Let me continue
here further. We flex Point Studios have learned more, have
leaned more into revgen from web two because there's objectively
(15:41):
not enough interest and Orkadanda DeFi activity to generate revenue
for more than three or four DAPs.
Speaker 2 (15:47):
Sad but true.
Speaker 1 (15:48):
And this comes from Kat's comment here. She's a big
proponent in perpetuals. The perpetual space stripe finance is one
of them. I'm going to keep saying this. Feel free
to mute me if you're tired of hearing it, but
if you want to increase Cadano on chain activity.
Speaker 2 (16:06):
We need support businesses that.
Speaker 1 (16:07):
Are currently generating revenue, and this probably ties into the
Strike Finance proposal at the moment, where they're looking for
treasury funds to put into their platform to try and
grow the platform more, but then generate revenue for the
treasury too. I think it's a brilliant idea. I think
people should support that proposal as well. I think it's
(16:29):
a good one. Stripe Finance have proven themselves as a
good platform to try and generate more revenue. More fees
and perhaps perpetuals are the hot topic at the moment,
so I think it's a good thing. But if you
support the ones that are making revenue now, it kind
of mute any other new ones that are trying to
(16:53):
build in the ecosystem and generate revenue in different verticals,
the next verticals. We know that prediction markets and perpetuals
are hot right now. What's hot next, what's coming next?
And I'd argue that AI agents X four O two
payments and things like that are the next thing. They're
(17:15):
the next thing that we should be looking at, and
the rails that should be built and everything now. I
know Patrick Tobler from nd maker or Masumi Masumi Network.
They've done a lot of work there and they're well
ahead of the game, like years ahead of the game,
building the platform there and making AI agentic payments a thing,
and I think that's really going to be the next
(17:38):
era of blockchain and stable coin payments. So that's something
that we really need to pay attention to and focus
investment on. So if we keep on focusing on what's
hot right now, great, we'll generate revenue now, but we
need to generate revenue in the future and start finding
those things that are coming up next.
Speaker 2 (17:55):
So decimalis here. It makes a really good point.
Speaker 1 (17:58):
We need to look into general revenue on the Cadana
ecosystem in different ways, and you know, if we if
it is some of these new ideas with agentics side
of things, then we need to actually look into it
and fund it as well, not just what we're looking
at at the moment and playing with that the moment.
Speaker 2 (18:19):
So cash here.
Speaker 1 (18:20):
Brings up a nice post and brings up some stats
for the month of June, twenty six thousand transactions in June,
and this is for way Up. So Way Up's looking
quite good at the moment, and it may be because
they're doing the migrations from JPEX store over to Way
Up the NFT marketplace. JPEX store closed down, so Way
Up is now taking over. But we've got twenty six
(18:43):
thousand transactions there from the Way Up team Bidegger prediction
marketzer point one, so finance borrowing, lending seven k, thenogo
it should be Deno finance now but four k there,
and then strike finance three point four k transactions. So overall,
some good activity for the Cadana ecosystem in comparison to
really what we were transacting before. But the volume here
(19:07):
is nice on the way upside of things, but this
is nowhere near enough for the Kadana ecosystem to survive
of transactions alone. I did the calculations for this before,
but it needs to be a hell of a lot
more for statepool operators to be completely independent of the reserves.
And that's where we really need to be, and I
(19:28):
think we need to be there now. Let me explain
that for those that don't know the Kadano state pools
out there, they get three hundred and forty eighter from
the reserves. This was an incentive pool set aside it's
not from the treasury, but it's pre minted and just
set aside there as a reserve to pay statepool operators
to keep them operating.
Speaker 2 (19:48):
It's like a kick.
Speaker 1 (19:49):
Starting for the ecosystem. And eventually, over time transaction fees
will go up, and as they go up, we don't
need to rely on the reserves anymore, and the reserves
will eventually run out anyway. So the idea is that
by the time the reserves a run out, transaction volume
on Candana should be high enough to make the state
pools profitable. At the moment they're not. It's far from
(20:11):
that profitable state. And if that reserve funding wasn't there,
most of the state pools would probably die out or
you wouldn't even bother running a state pool at all.
So we need to get this transaction count up as
high as possible. The problem here is that the most
attractive thing about Kardano is coming in and just staking
(20:32):
your AIDA. It's easy, non custodial, You don't need to
interact with a smart contract or anything. Just get your AIDA,
move it to custodial wallet, point it to a state
pool set and forget and walk away. And because of
that I believe that's why a lot of people don't
participate in Cardano DeFi. They go for the easy option. Plus,
(20:55):
there's all these tax implications when you actually do participate
in DeFi. Here in Australia, if you do a swap,
it's a taxable event. You have to pay capital gains tax.
If you do borrowing lending, same thing. If you make
a loss you have to report on that. If you
make profit you have to report in that. It's quite
a headache when you go through all this and you
(21:16):
have to track every single transaction and work out if
you made a loss again and then work out your
tax on top of that. So it's very prohibitive for
a lot of people to participate in DeFi. But we
still need to get transactions up on chain. So whatever
however we can do that is desperately needed at this
(21:38):
point in time. But there's a lot of hurdles that
we have to get over, and one of them is
the fact that a lot of Kadano users just simply
steak and don't do anything else. On top of that, now,
this next item here, fuel here, fuel works tirelessly in
the Cadana ecosystem has created a brand new platform here.
It's called the proof platform, and it's to make his
(22:02):
DRAP priorities clear. And a lot of a lot of
the proposals that have been put on chain recently orientated
around DFI, such as the Pogan proposal and other DeFi
related proposals, they've all failed and they haven't gone through
on chain, and this is really what we need to
(22:24):
get the transactions up. If we have protocols that generate yield,
generate revenue, it will attract users to actually use it.
So think of it like this. If you as a
speculator in the market, investor someone playing around the crypto space,
you have ten thousand US dollars and you have an option.
(22:46):
What should you do with that money? You can put
it in an index fund, which is pretty easy, and
that usually generates return around seven to ten percent. That's
pretty easy to do, and you know the the laws
around that make it easy. Now the other side, you
could also put it into Cadano DeFi and that will
(23:09):
give you a smaller return, maybe maybe higher return. If
you put it into ada staking it will give you
about two percent. At the moment, it's not really appealing,
is it.
Speaker 2 (23:19):
So if I had ten thousand.
Speaker 1 (23:20):
Would I put it into ada staking or would I
put it into a index fund? I probably would be
more attracted to the index fund it makes more revenue there.
But if you have options such as Pogan other related things,
it will attract users to move away from those index
(23:40):
funds and whatever is easy and safe to something a
little bit more risky because it gives you more of
a return, And you don't want just defy crypto tookens.
You want real yield, You want real assets such as
USD or BTC or eight. So those type of tokens
are the ones that you want out of the ecosystem
(24:01):
if you are willing to take a risk.
Speaker 2 (24:03):
So I think that's really important.
Speaker 1 (24:05):
And Phil here is a really good dear, but controversial
at times. A lot of people have weird ways of communicating,
but Phil definitely does have Coadana's interest at heart. So
if you want to check out his platform, it's only
a landing page at the moment, so I'm assuming he's
going to put more on here over time, but you'll
(24:27):
see how he votes, his ideals, where he wants to vote,
how he wants to vote, et cetera, et cetera. But
do check out the platform in time and check out
how he will potentially try and drive more DeFi in
the Cadona ecosystem. Now, this does bring me on to
more government side of things, and this is this was expected.
Speaker 2 (24:50):
I knew this was coming. Now.
Speaker 1 (24:52):
This first one here net change limit for those that
don't know. Net change limit is the amount of aida
that can be withdrawn from the Cadano treasury over a
period of time. At this point, it is set at
three hundred and fifty million eight until mid next year.
Speaker 2 (25:08):
So we have one whole year to spend three hundred
and fifty eight.
Speaker 1 (25:12):
Well it was actually a year and a half because
it started in January, but we've already spent that.
Speaker 2 (25:17):
It's all gone, essentially, all gone, all.
Speaker 1 (25:19):
Allocated to various projects, and I think there's like twenty
million left. So with a whole year to go and
a lot of initiatives still out there and people seeking
more funding, there's this proposal here now to increase the
net change limit to five hundred million eight. And there
are mixed reviews on this. Firstly, yes, a lot of
(25:44):
people knew this was coming. Yep, yep, a lot of
people did. There was a lot of talk about it,
but a lot of people are either for it or
against it. So the first ones are you know, against
it using more Aida, pulling more Aida out and selling
it for stable coins to pay developers and protocols and whatever.
It's definitely going to send the price of Aida down
(26:05):
whereat seventeen cents USD at the moment, which is a
nice recovery, not too bad. But selling more Aida another
another big chunk here, will definitely have some sort of
impact over time. Now this was all changed and I
highly highly believe it was changed and going to increase,
(26:28):
not to allow for all the Kardano DAPs and projects
out there that missed out on that first round of
funding to get funding. It is purely for this project here,
Cardana Prime. I highly suspect this has been put forward
so that Kadano Prime can get their foot in the
(26:49):
door and get their one hundred and twenty million Aida
to boost up the Kadana DeFi ecosystem. So I did
an interview with these guys. Please do check it out
links in the top right hand corner there. But they
have a full scope and idea and plan of how
to increase DeFi activity on Kadino and then set the
(27:14):
road the infrastructure, the roadmap, everything, put everything in place,
so next time we do campaigns like this, it makes
it easier and easier. Projects can then come in and say,
I want to do a campaign similar to what our
the growth did with the Cadina Prime project and bring
up more liquidity and activity. I'll point out one thing
(27:36):
that they did for the compound ecosystem. So compounds are
borrowing lending protocol on the ethereum space. But one thing
that they did was they integrated in a DeFi protocol
directly into Coinbase. So Coinbase users, when they were participating
in their their DAP ecosystem there it seamless integrated that
(28:01):
into the DeFi space. So users using Coinbase didn't even
know they were using a platform called Morpho. And that's
the type of experience that users want. That's the type
of experience. That's how DeFi should work for a lot
of people. I don't know what's happening in the background,
and I frankly don't care as long as I'm getting
a yield and return through the best user experience possible.
(28:25):
So the OURPHA growth team here are looking at similar
ways to do that for the Kadana ecosystem. So the
idea here is that we get an application such as
Coinbase with hundreds of millions of users around the world
connected to Kadano DeFi, and with that rail put in place,
(28:45):
we'll see something as simple as native Kadano staking through
Coinbase connected directly to the Kadano statepool ecosystem. Imagine if
they took a really really nice approach, which where they said,
all right, let's delegate all this ADA instead of to
coinbasis state pools, delegate it to single state pool operators
(29:08):
in the Candana ecosystem or something like that. You know,
they could put in that kind of parameter in there
to randomly delegate to particular users and allocate the ADA
that way and then give the return to the stakers
that way. So that's pretty cool. But there's also borrowing
lending protocols out there on the Cardana ecosystem. There's also
Bitcoin DeFi in the Caardana ecosystem. A lot of protocols
(29:30):
are turning things on at the moment, So imagine that
happening from Coinbase with that seamless user experience over to Kadana.
So that's where OURPHA growth are trying to insert themselves
into the Cadana ecosystem, and why this one hundred and
twenty million is needed to make that happen. And when
you convert one hundred and twenty, it's you know, it's
(29:51):
only nineteen it's just on twenty million.
Speaker 2 (29:53):
It's not that much.
Speaker 1 (29:54):
It's actually quite cheap if you look at it from
a USD point of view. Just that we all look
at things Air Aida and it turns out to be
really expensive in Aida at the moment.
Speaker 2 (30:04):
But this highly likely.
Speaker 1 (30:06):
Is all this five hundred million aider adjustment is highly
likely going to be swallowed up a lot by this
particular bit of request from Alpha Growth. They'll be a
little bit left over for the Cadana ecosystem and other
people that are building and developing and you know, doing
all the good stuff out there. But pretty much it's
all going to the Alpha Growth team here. It's just
(30:29):
the reality of it, guys. Now, there is a bit
of talk about this at the moment. This brand new website,
I haven't seen this one before, derep talk dot com.
And we can see various delegates already pushing this one through.
So we've got some de reps here voting on this one,
and so far it's the yeses that are pushing this
(30:49):
one through, So we probably will see this one gets
through on chain. I didn't I really didn't think we would.
But I think if if the the people in charge,
the people that are most influential, get their hands on
this one and push things through because they know what
is needed, it will most.
Speaker 2 (31:09):
Likely change to that five hundred million eight.
Speaker 1 (31:12):
Anyway, guys, if you are looking for a de rep,
I've built this de rep matchmaking website which you can
use to help you find a de rep.
Speaker 2 (31:24):
This is it. Here. You can take a little quiz,
you go through here, you.
Speaker 1 (31:27):
Can answer all these various different questions and based on
your answers, it will try and find you someone that
matches up with your views. So that random clicking came
up with Chris Katta here. He's currently got five point
nine just under six million aided delegated term by one
hundred and fifty six people and as a sixty seven
(31:49):
percent match. So now I can connect my wallet here,
whatever wallet you're using, and then delegate directly to that
particular person here. So it's a nice way of trying
to find someone that and is aligned with your particular
views to potentially delegate to them as well. So I'll
put some parameters and filters under here, so it's any
(32:10):
de rep that's under thirty million at the moment and
has active on chain activity and is an active d REP,
so it kind of decentralizes. That was the main goal
of this particular matchmaking DAP here. So do check that
one out, guys, if you're interested. That's all I have
for this particular Cadne news updates. I said it was
(32:31):
going to be quick, but no, I still went over
time longer than I expected as well.
Speaker 2 (32:36):
If you enjoyed it, if.
Speaker 1 (32:36):
You've got something out of that, make sure you hit
that thumbs up. Hit that thumbs up guys works wonders,
hit the subscribe button, hit that notification bell as well.
I've got my other YouTube channel, the Crypto Tutorials one.
It's down there too, so if you haven't subscribed, please
please do, and it will help educate you guys with
all these to touris that I'm building on the other
channel too. I've got YouTube memberships down below. Got that
(33:00):
and buy me a coffee links too, if you're interested
in buying me a coffee it's a great way to
support the channel, but like always, just see that thumbs up.
That's all I really need. And guys, try and stay positive.
Lots of news out there, and I'll see you in
the next video.
All right, guys, a lot of big news updates in
the Cadona ecosystem. I'm going to fly through these and
tell you exactly why these particular updates matter for you
as an AIDA holder. They all have quite a bit
of impact for you, so let's go through them. The
first one here is the update around Second five. So
this used to be EUROI. They rebranded Second five and
if you were using their wallet, you may have been compromised,
(00:23):
or you may be already know that you've been compromised
and you're waiting for the process to be updated here.
So they do have a big updates. If you have
been compromised, if you have been using the app, make
sure you submit a support ticket to support. Dot second
five dot io links down blow for you guys. But
they have a asset recovery checker now checker dot second
(00:45):
five dot io. This is what it looks like here.
If you have your wallet address handy, let's say you've
restored it in another wallet and haven't used it. That's
really important. Or you have your address save somewhere else,
you can use that here and check if your wallet
has been compromised or not. It's really important if you
do restore on another wallet app that you don't do
(01:07):
any transactions because that is what will reveal your signing
keys and let the hacker take assets from your wallet.
Do not do any transactions. That's a really important thing here.
But you can use that checker here and verify if
you're impacted or not. It will never ask you to
sign a transaction. Remember that, do not sign transactions on
(01:28):
your potentially compromised wallet. The big thing here They also
have allocated sixteen million eight worth of funds to make
the users that were hacked whole again, that's what it
sounds like. So MERGA has set up a recovery fund
address to return assets to the victims of the attack.
(01:49):
So that is exceptionally good news to hear. They have
an address here where they're allocated those funds, put them
aside so that they can.
Speaker 2 (01:57):
Distribute to those particular users.
Speaker 1 (01:59):
Now that is specifically for the users of that sixteen
million eight in the initial hacks, not the one hundred
and twenty nine million which the white hat hacker did afterwards.
So now, notably as it's recovered by the white hats,
including the fourth event, are accessible and safely held. So
a lot of those assets will be returned to users
(02:20):
through the recovery process, so it's important that you don't
delete the app because that will be your key to
the recovery process. Now, the team also said they'll be
at WebEx in Tokyo, so if you happen to be
in Tokyo, I know a lot of users that use
Uroi Second five are Japanese, so if you are in
that area, you can talk to the team directly.
Speaker 2 (02:41):
You can shout at them, you can abuse them. Don't
abuse them.
Speaker 1 (02:45):
They're working their asses off to get this all back together,
but you know you can talk to them and ask
them how the funds are going, how they're going to
be recovering them and getting your aida back. I know
a lot of people were impacted by in DeFi that
were participating there. I've seen state pool operators that use
the app as well and had their stakepools connected to
their wallet were also affected. So a lot of people
(03:08):
across the broad here have been affected. So it's good
to see that the funds are coming back to a
lot of users here now. Just as a reminder, Second
five will never request private key, seed phrases, wallet credentials,
or access to your wallet there's also email scams going
around at the moment as well, so all communications so
far through Second five have been through x itself and
(03:29):
not through emails, So if you see any emails going out,
it's highly likely it is a scam, so be careful
of that now. The team here at Second five also
have put together a hardware wallet migration guide, So if
you have a hardware wallet such as a Keystone wallet,
if you're not using it, or if you've just purchased one,
highly recommend the Keystone wallet fully air gapped. This thing
(03:51):
is brilliant. You never plug it in. You never plug
it in. It uses QI codes to scan and verify transactions.
You hold it up, you've got this little camera here
on the back here, and you've got a fingerprint scanner
here that will scan your fingerprint, so you need to
verify your fingerprint to sign transaction as well. The camera
will capture the QR code on the wallet, verify the
(04:14):
transaction there, verify it within the app, and then you
have to camera back, so the computer will need a
camera to verify, send that data of the verified transaction
back again as well. So it's a beautiful wallet, very
cool user experience. A lot easier than the legend nano
where you have to press so many buttons. But anyway,
if you're interested, links down below their affiliate lengths, so
(04:35):
it does support the channel if you do buy one
through those links down below, but they're put together the
guide here on how to migrate your assets over to
the hardware wallets if you are happening if you happen
to use one. But they're also recommending that you jump
over to different wallets as well at this point in time.
(04:55):
So I think they mentioned here a lace lace wallet.
I can't remember where I saw it, but you will
need to restore it in a different wallet application, and
Lace is probably a good one to use. So a
lot there happening from the second five team. Another big
mention that I should tell you about is the midnight
redeeming process. So a lot of users in the comments
(05:19):
of my channel have asked, what about all of my
midnight tokens, my night tokens that I mind through EUROI
what happens to them at the moment? They're all being paused,
So anyone that is trying to redeem through the Glacier
Drop will not be able to They will have to
go through and wait for this whole process to be
(05:39):
cleaned up, because I believe they'll be mapping the addresses
of the compromise wallets to the new ones after second
five go through this entire process and work out who
owns what wallet now, So it's going to take a
little while. The Midnight team have put out an official
notice about this as well, being temporarily suspended until this
(06:03):
whole drama is sorted out. So if you're expecting Midnight
tokens night tokens and want to sell, unfortunately not at
this point in time because the whole process is locked
down at the moment. But we'll see that back up
again very soon. So that's everything around the second five
side of things. Hopefully it gives you guys some clarity
about what's happening around the second five side of things.
(06:26):
Remember there are scams going around, so be very mindful
and vigilant out there. Next really big news story that
could have some big impact on the Kadana ecosystem is
open USD. So this is a huge, brand new open
standard for stable coins in the crypto space, but not
just crypto, it's payment rails overall. So this is going
(06:49):
to have major impact if everyone behind it can manage
to get off the ground and utilized and actually used
within the ecosystem. And they have a lot of promise here.
And let me just bring up all the logos and
all the teams, all the companies that are a part
of this, and this is huge. Just look at this,
(07:11):
besides the major payment processes from around the world. Just
from an Australian point of view, this is huge. We've
got Commonwealth Bank, We've got NAB, we have A and
Z and Westpac. They're the big four banks here in Australia,
the biggest four banks that make more profits than any
other banks around the world. I think that stats right.
(07:33):
But they're big, big banks here, and they're extremely profitable
because they make a lot of money off of their consumers.
But if you look at this banner of logos here,
you don't see anything Cadano related. And I'll talk a
little bit more about that in second, but let's just
jump back to the big announcement here from open Standard.
(07:56):
So the whole point of open Standard is that there
are still problems, as they say, when using stable coins.
And I you know, I'm not a stable coin issuer.
Speaker 2 (08:06):
I don't.
Speaker 1 (08:08):
Work within the stable coin space. I don't do huge
amount to remittance payments, so I don't know the problems.
Speaker 2 (08:13):
But these guys do. So here we go.
Speaker 1 (08:16):
Still, the whole process here still faces significant hurdles with
fees to mint, fees to redeem the stable coin assets,
and it becomes expensive and especially with large volumes, and
they aren't always benefiting from revenues earned from the underlying assets.
Speaker 2 (08:36):
So we know this, we use USDC.
Speaker 1 (08:39):
The only place you can really earn from holding USDC
is on Circle, so it's kind of like a closed
ecosystem there. If you want to earn the yields from
the underlying assets that make up USDC, you have to
do it via their app, their coin base, so you know,
(09:00):
it kind of locks you into their ecosystem and isn't
beneficial if you want to move somewhere else, a different app,
whatever it is. So this is opening up the whole
ecosystem there. Then third the third issue here at developers
have a little recourse if the roadmaps of third party
issuers do not meet their needs. So that's very true.
So if any of these companies here wanted to build
(09:22):
upon USDC their ecosystem, they may not benefit from anything
that they actually build. Their payment's great, you know, fast
payments whatever. But because the Circle team own everything, they're
the ones that really benefit in the end. So it's
kind of like a decentralizing the benefits and the reason
(09:43):
why to build on a step coin protocol. Now, if
we go down here, what else do they say? Businesses
need something that's opened, low cost, high thoroughput, broadly accessible
and aligns with their interests.
Speaker 2 (09:56):
Cool.
Speaker 1 (09:57):
Now, these are all the companies themselves, so they've listed
all of their names here from all the banks or
the institutions or the big tech companies and all the
crypto players. Now in the crypto players here we see Solana, Great,
five Blocks, Gemini, Meta, mass call E Torow big names there.
Don't see Kardano at all. Where is Kadano in this?
(10:21):
And why weren't we brought to the table? Are people
working with them? Are people in contact with them? When
this news came out, a lot of people were criticizing
the founding entities for not being connected or having relationships
with these partners to actually make this happen. And it
(10:44):
may be lack of business development, maybe lack of connections.
It may be the historic view of Kadano that is
hampering things here, but there is a glimmer of hope.
Speaker 2 (10:55):
And I've highlighted.
Speaker 1 (10:57):
Here with this company here called Braille, and I had
to look into this one here, So Braill, this is
announcement from the Cadano Foundation. After all this stuff with
Open Standard, we welcome the announcement of OPENUSD and our
partner Braille as a launch partner. We're exploring other integration
options also, and we'll share more in due course. So
(11:21):
the Kadana Foundation doesn't have a direct connection with the
Open Standard, but through their partner Brail here they do.
So who on earth is Brail and how will this
impact Kardano? So this is Brail here. It is a
financial company, financial technology company building tools that help businesses
create and manage their own stable coins. A stable coin
(11:43):
is a blah blah blah. Okay, they their infrastructure for
stable coins. Can find out a little bit more about
them at Brail dot xyz. Looks like they're pretty well
established and supporting lots of change with lots of billions
billions in transactions through the platform.
Speaker 2 (12:00):
It looks like a good.
Speaker 1 (12:01):
Solid partner for the Dina Foundation to have partnered with
to actually make this open standard thing possible. So we
aren't exactly being entirely left behind. We do have a
connection and it's through this predictar particular partner here of Braille.
Now where is this going to go? How are we
(12:22):
going to be impacted by this? Who's going to build
on this when we barely know anything about it? Luckily,
here Project Catalyst is kicking back in this summer and
they're launching a mini pilot here two million eight not
much aid at all. I think that works out to
be roughly about two hundred and fifty thousand or three
(12:43):
hundred thousand USD at the time recording this, maybe a
little bit less actually, But the scope of this particular
pilot will look at particular categories of submissions PITH and
that's the oracle things. But they also mentioned here Braille
(13:04):
and that is the partnership that the Kadana Foundation has
to potentially build on Open Standard. So that is really cool. Okay,
so there is some impact here. We will potentially see
Kadano DAPs integrating in via Brail to get connected with
Open Standard and have o USD brought onto the Kadana ecosystem. Okay,
(13:31):
So potentially more stable coins on the ecosystem, a little
bit more fragmentation there, but we can work things out.
It's we're not completely left out of the loop here,
at least the other things that are coming out of catalysts.
We got the stable coins proposals, so any project that's
building on stable coins usdc X or cardon natives such
(13:53):
as USDM, USDA, et cetera, et cetera. We also have
programble tokens and then on chain identity. So technically these
three really linked together nicely, these Braille stable coins and
programble tokens to all around being able to comply and
align ourselves in the stable coin ecosystem with freezing of
(14:15):
assets and locking assets to addresses. So if we had
more of this programmable token ecosystem on Kadano, we could
possibly have stopped hacks like what we saw with second
five and that sixteen million million eight that was converted
to usdc X. We could have seen a lot more
(14:36):
of that blocked and recovered quite easily. But we're not
there yet, and a lot of DeFi maxis don't really
want that either. But anyway, we have a good outlook
here for open standard, so I'm looking forward to seeing
what happens there. Next new story I want to look
(14:56):
at is some debate in the Cadina ecosystem about revenue
and where DAPs are getting revenue from and how and
where we as a CADNA ecosystem should be spending and
focusing our time and treasury funds. So decimalis here from
flex Points Studios building some awesome stuff. But he mentions
(15:17):
here generating revenue from Kadana user and activity. Hmmm, I
think there's like three doesn't mean three users, Maybe he
does or three DAPs, either of the two. There's not
much activity on chain at the moment. Let me continue
here further. We flex Point Studios have learned more, have
leaned more into revgen from web two because there's objectively
(15:41):
not enough interest and Orkadanda DeFi activity to generate revenue
for more than three or four DAPs.
Speaker 2 (15:47):
Sad but true.
Speaker 1 (15:48):
And this comes from Kat's comment here. She's a big
proponent in perpetuals. The perpetual space stripe finance is one
of them. I'm going to keep saying this. Feel free
to mute me if you're tired of hearing it, but
if you want to increase Cadano on chain activity.
Speaker 2 (16:06):
We need support businesses that.
Speaker 1 (16:07):
Are currently generating revenue, and this probably ties into the
Strike Finance proposal at the moment, where they're looking for
treasury funds to put into their platform to try and
grow the platform more, but then generate revenue for the
treasury too. I think it's a brilliant idea. I think
people should support that proposal as well. I think it's
(16:29):
a good one. Stripe Finance have proven themselves as a
good platform to try and generate more revenue. More fees
and perhaps perpetuals are the hot topic at the moment,
so I think it's a good thing. But if you
support the ones that are making revenue now, it kind
of mute any other new ones that are trying to
(16:53):
build in the ecosystem and generate revenue in different verticals,
the next verticals. We know that prediction markets and perpetuals
are hot right now. What's hot next, what's coming next?
And I'd argue that AI agents X four O two
payments and things like that are the next thing. They're
(17:15):
the next thing that we should be looking at, and
the rails that should be built and everything now. I
know Patrick Tobler from nd maker or Masumi Masumi Network.
They've done a lot of work there and they're well
ahead of the game, like years ahead of the game,
building the platform there and making AI agentic payments a thing,
and I think that's really going to be the next
(17:38):
era of blockchain and stable coin payments. So that's something
that we really need to pay attention to and focus
investment on. So if we keep on focusing on what's
hot right now, great, we'll generate revenue now, but we
need to generate revenue in the future and start finding
those things that are coming up next.
Speaker 2 (17:55):
So decimalis here. It makes a really good point.
Speaker 1 (17:58):
We need to look into general revenue on the Cadana
ecosystem in different ways, and you know, if we if
it is some of these new ideas with agentics side
of things, then we need to actually look into it
and fund it as well, not just what we're looking
at at the moment and playing with that the moment.
Speaker 2 (18:19):
So cash here.
Speaker 1 (18:20):
Brings up a nice post and brings up some stats
for the month of June, twenty six thousand transactions in June,
and this is for way Up. So Way Up's looking
quite good at the moment, and it may be because
they're doing the migrations from JPEX store over to Way
Up the NFT marketplace. JPEX store closed down, so Way
Up is now taking over. But we've got twenty six
(18:43):
thousand transactions there from the Way Up team Bidegger prediction
marketzer point one, so finance borrowing, lending seven k, thenogo
it should be Deno finance now but four k there,
and then strike finance three point four k transactions. So overall,
some good activity for the Cadana ecosystem in comparison to
really what we were transacting before. But the volume here
(19:07):
is nice on the way upside of things, but this
is nowhere near enough for the Kadana ecosystem to survive
of transactions alone. I did the calculations for this before,
but it needs to be a hell of a lot
more for statepool operators to be completely independent of the reserves.
And that's where we really need to be, and I
(19:28):
think we need to be there now. Let me explain
that for those that don't know the Kadano state pools
out there, they get three hundred and forty eighter from
the reserves. This was an incentive pool set aside it's
not from the treasury, but it's pre minted and just
set aside there as a reserve to pay statepool operators
to keep them operating.
Speaker 2 (19:48):
It's like a kick.
Speaker 1 (19:49):
Starting for the ecosystem. And eventually, over time transaction fees
will go up, and as they go up, we don't
need to rely on the reserves anymore, and the reserves
will eventually run out anyway. So the idea is that
by the time the reserves a run out, transaction volume
on Candana should be high enough to make the state
pools profitable. At the moment they're not. It's far from
(20:11):
that profitable state. And if that reserve funding wasn't there,
most of the state pools would probably die out or
you wouldn't even bother running a state pool at all.
So we need to get this transaction count up as
high as possible. The problem here is that the most
attractive thing about Kardano is coming in and just staking
(20:32):
your AIDA. It's easy, non custodial, You don't need to
interact with a smart contract or anything. Just get your AIDA,
move it to custodial wallet, point it to a state
pool set and forget and walk away. And because of
that I believe that's why a lot of people don't
participate in Cardano DeFi. They go for the easy option. Plus,
(20:55):
there's all these tax implications when you actually do participate
in DeFi. Here in Australia, if you do a swap,
it's a taxable event. You have to pay capital gains tax.
If you do borrowing lending, same thing. If you make
a loss you have to report on that. If you
make profit you have to report in that. It's quite
a headache when you go through all this and you
(21:16):
have to track every single transaction and work out if
you made a loss again and then work out your
tax on top of that. So it's very prohibitive for
a lot of people to participate in DeFi. But we
still need to get transactions up on chain. So whatever
however we can do that is desperately needed at this
(21:38):
point in time. But there's a lot of hurdles that
we have to get over, and one of them is
the fact that a lot of Kadano users just simply
steak and don't do anything else. On top of that, now,
this next item here, fuel here, fuel works tirelessly in
the Cadana ecosystem has created a brand new platform here.
It's called the proof platform, and it's to make his
(22:02):
DRAP priorities clear. And a lot of a lot of
the proposals that have been put on chain recently orientated
around DFI, such as the Pogan proposal and other DeFi
related proposals, they've all failed and they haven't gone through
on chain, and this is really what we need to
(22:24):
get the transactions up. If we have protocols that generate yield,
generate revenue, it will attract users to actually use it.
So think of it like this. If you as a
speculator in the market, investor someone playing around the crypto space,
you have ten thousand US dollars and you have an option.
(22:46):
What should you do with that money? You can put
it in an index fund, which is pretty easy, and
that usually generates return around seven to ten percent. That's
pretty easy to do, and you know the the laws
around that make it easy. Now the other side, you
could also put it into Cadano DeFi and that will
(23:09):
give you a smaller return, maybe maybe higher return. If
you put it into ada staking it will give you
about two percent. At the moment, it's not really appealing,
is it.
Speaker 2 (23:19):
So if I had ten thousand.
Speaker 1 (23:20):
Would I put it into ada staking or would I
put it into a index fund? I probably would be
more attracted to the index fund it makes more revenue there.
But if you have options such as Pogan other related things,
it will attract users to move away from those index
(23:40):
funds and whatever is easy and safe to something a
little bit more risky because it gives you more of
a return, And you don't want just defy crypto tookens.
You want real yield, You want real assets such as
USD or BTC or eight. So those type of tokens
are the ones that you want out of the ecosystem
(24:01):
if you are willing to take a risk.
Speaker 2 (24:03):
So I think that's really important.
Speaker 1 (24:05):
And Phil here is a really good dear, but controversial
at times. A lot of people have weird ways of communicating,
but Phil definitely does have Coadana's interest at heart. So
if you want to check out his platform, it's only
a landing page at the moment, so I'm assuming he's
going to put more on here over time, but you'll
(24:27):
see how he votes, his ideals, where he wants to vote,
how he wants to vote, et cetera, et cetera. But
do check out the platform in time and check out
how he will potentially try and drive more DeFi in
the Cadona ecosystem. Now, this does bring me on to
more government side of things, and this is this was expected.
Speaker 2 (24:50):
I knew this was coming. Now.
Speaker 1 (24:52):
This first one here net change limit for those that
don't know. Net change limit is the amount of aida
that can be withdrawn from the Cadano treasury over a
period of time. At this point, it is set at
three hundred and fifty million eight until mid next year.
Speaker 2 (25:08):
So we have one whole year to spend three hundred
and fifty eight.
Speaker 1 (25:12):
Well it was actually a year and a half because
it started in January, but we've already spent that.
Speaker 2 (25:17):
It's all gone, essentially, all gone, all.
Speaker 1 (25:19):
Allocated to various projects, and I think there's like twenty
million left. So with a whole year to go and
a lot of initiatives still out there and people seeking
more funding, there's this proposal here now to increase the
net change limit to five hundred million eight. And there
are mixed reviews on this. Firstly, yes, a lot of
(25:44):
people knew this was coming. Yep, yep, a lot of
people did. There was a lot of talk about it,
but a lot of people are either for it or
against it. So the first ones are you know, against
it using more Aida, pulling more Aida out and selling
it for stable coins to pay developers and protocols and whatever.
It's definitely going to send the price of Aida down
(26:05):
whereat seventeen cents USD at the moment, which is a
nice recovery, not too bad. But selling more Aida another
another big chunk here, will definitely have some sort of
impact over time. Now this was all changed and I
highly highly believe it was changed and going to increase,
(26:28):
not to allow for all the Kardano DAPs and projects
out there that missed out on that first round of
funding to get funding. It is purely for this project here,
Cardana Prime. I highly suspect this has been put forward
so that Kadano Prime can get their foot in the
(26:49):
door and get their one hundred and twenty million Aida
to boost up the Kadana DeFi ecosystem. So I did
an interview with these guys. Please do check it out
links in the top right hand corner there. But they
have a full scope and idea and plan of how
to increase DeFi activity on Kadino and then set the
(27:14):
road the infrastructure, the roadmap, everything, put everything in place,
so next time we do campaigns like this, it makes
it easier and easier. Projects can then come in and say,
I want to do a campaign similar to what our
the growth did with the Cadina Prime project and bring
up more liquidity and activity. I'll point out one thing
(27:36):
that they did for the compound ecosystem. So compounds are
borrowing lending protocol on the ethereum space. But one thing
that they did was they integrated in a DeFi protocol
directly into Coinbase. So Coinbase users, when they were participating
in their their DAP ecosystem there it seamless integrated that
(28:01):
into the DeFi space. So users using Coinbase didn't even
know they were using a platform called Morpho. And that's
the type of experience that users want. That's the type
of experience. That's how DeFi should work for a lot
of people. I don't know what's happening in the background,
and I frankly don't care as long as I'm getting
a yield and return through the best user experience possible.
(28:25):
So the OURPHA growth team here are looking at similar
ways to do that for the Kadana ecosystem. So the
idea here is that we get an application such as
Coinbase with hundreds of millions of users around the world
connected to Kadano DeFi, and with that rail put in place,
(28:45):
we'll see something as simple as native Kadano staking through
Coinbase connected directly to the Kadano statepool ecosystem. Imagine if
they took a really really nice approach, which where they said,
all right, let's delegate all this ADA instead of to
coinbasis state pools, delegate it to single state pool operators
(29:08):
in the Candana ecosystem or something like that. You know,
they could put in that kind of parameter in there
to randomly delegate to particular users and allocate the ADA
that way and then give the return to the stakers
that way. So that's pretty cool. But there's also borrowing
lending protocols out there on the Cardana ecosystem. There's also
Bitcoin DeFi in the Caardana ecosystem. A lot of protocols
(29:30):
are turning things on at the moment, So imagine that
happening from Coinbase with that seamless user experience over to Kadana.
So that's where OURPHA growth are trying to insert themselves
into the Cadana ecosystem, and why this one hundred and
twenty million is needed to make that happen. And when
you convert one hundred and twenty, it's you know, it's
(29:51):
only nineteen it's just on twenty million.
Speaker 2 (29:53):
It's not that much.
Speaker 1 (29:54):
It's actually quite cheap if you look at it from
a USD point of view. Just that we all look
at things Air Aida and it turns out to be
really expensive in Aida at the moment.
Speaker 2 (30:04):
But this highly likely.
Speaker 1 (30:06):
Is all this five hundred million aider adjustment is highly
likely going to be swallowed up a lot by this
particular bit of request from Alpha Growth. They'll be a
little bit left over for the Cadana ecosystem and other
people that are building and developing and you know, doing
all the good stuff out there. But pretty much it's
all going to the Alpha Growth team here. It's just
(30:29):
the reality of it, guys. Now, there is a bit
of talk about this at the moment. This brand new website,
I haven't seen this one before, derep talk dot com.
And we can see various delegates already pushing this one through.
So we've got some de reps here voting on this one,
and so far it's the yeses that are pushing this
(30:49):
one through, So we probably will see this one gets
through on chain. I didn't I really didn't think we would.
But I think if if the the people in charge,
the people that are most influential, get their hands on
this one and push things through because they know what
is needed, it will most.
Speaker 2 (31:09):
Likely change to that five hundred million eight.
Speaker 1 (31:12):
Anyway, guys, if you are looking for a de rep,
I've built this de rep matchmaking website which you can
use to help you find a de rep.
Speaker 2 (31:24):
This is it. Here. You can take a little quiz,
you go through here, you.
Speaker 1 (31:27):
Can answer all these various different questions and based on
your answers, it will try and find you someone that
matches up with your views. So that random clicking came
up with Chris Katta here. He's currently got five point
nine just under six million aided delegated term by one
hundred and fifty six people and as a sixty seven
(31:49):
percent match. So now I can connect my wallet here,
whatever wallet you're using, and then delegate directly to that
particular person here. So it's a nice way of trying
to find someone that and is aligned with your particular
views to potentially delegate to them as well. So I'll
put some parameters and filters under here, so it's any
(32:10):
de rep that's under thirty million at the moment and
has active on chain activity and is an active d REP,
so it kind of decentralizes. That was the main goal
of this particular matchmaking DAP here. So do check that
one out, guys, if you're interested. That's all I have
for this particular Cadne news updates. I said it was
(32:31):
going to be quick, but no, I still went over
time longer than I expected as well.
Speaker 2 (32:36):
If you enjoyed it, if.
Speaker 1 (32:36):
You've got something out of that, make sure you hit
that thumbs up. Hit that thumbs up guys works wonders,
hit the subscribe button, hit that notification bell as well.
I've got my other YouTube channel, the Crypto Tutorials one.
It's down there too, so if you haven't subscribed, please
please do, and it will help educate you guys with
all these to touris that I'm building on the other
channel too. I've got YouTube memberships down below. Got that
(33:00):
and buy me a coffee links too, if you're interested
in buying me a coffee it's a great way to
support the channel, but like always, just see that thumbs up.
That's all I really need. And guys, try and stay positive.
Lots of news out there, and I'll see you in
the next video.
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