June 9, 2025 • 29 mins
This week in the Cardano ecosystem: SNEK partners with IOG, Amaru secures the first treasury withdrawal under the new governance model, and Strike Finance continues its DeFi surge with 40k ADA daily revenue. Explore how Cardano’s governance, meme culture, and perpetual platforms are accelerating. Plus, updates from FluidTokens, Bodega, Danogo, Flow, and more.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, we've got some brilliant news here in the
Kaduna ecosystem. Some projects here are absolutely smashing the metrics
and pushing the chain forward. We have Snack who are
absolutely hitting every single goal and doing some amazing things
for the Kaduna ecosystem. They've got a brand new partnership here.
This is really really big one. We also have news
and updates from strike Finance, the perpetual platform on Cardano.
(00:22):
They're rising up the charts here and beating a lot
of the other ecosystem projects in other blockchains, so this
is absolutely amazing. So this is something to definitely look into.
And we have some other news from other projects within
the ecosystem. So lots to go through here. Let's get
to it everyone, I'm Peter. Make sure you hit that
thumbs up on your way in that light. Really works
(00:44):
with the YouTube algorithm, so really appreciate it if you
take just one moment to hit that like button, and
if you can hit the subscribe as well, really really helps.
So let's go into the news updates here. The very
first one is around Amaru now. Maru is the alternative
node for the kad ecosystem. It's written in Rust. So
it opens up a whole new playing field for developers
(01:06):
that are wanting to get in and build on Kadana.
They can now build with Rust instead of Haskell, which
has a very limited developer pool at the moment. So
now opening this up to Rust allows two things. One
a bigger developer pool so more developers can come in,
but then also an alternative node for the ecosystem making
(01:27):
it more decentralized. So we have the main Haskel node
which has been running the blockchain for seven plus years
and has been doing an amazing job, absolutely flawless, but
now we have an alternative written in Rust, and this
just brings up that level decentralization even more so if
the Haskell one for whatever reason fails within the future,
(01:50):
we know that a portion of the community be running
the Rust version, and the Rust version will be tested
and just as much scrutinized as the Haskell one, so
we know that we have an alternative and a fallback
if anything was to happen, and there will be more
and more of these different types of nodes coming into
the market. So we have a go laying implementation as
(02:12):
well with Dingo, so there'll be more of these along
the way, but this is now the very first governance action,
so it's a Caadano Community Info budget action that had
reached over that fifty percent yes threshold. That means their
budget proposal that they put up put forth can now
be submitted for smart contract withdrawals from the Cardana treasury.
(02:35):
And they needed a certain I think it was one
point five million eight to complete the project and launch
this Haskel node, so they now have the funding. So
this is a really good signal and indicator for the
Condona ecosystem, making it a lot more resilient and robust.
And we do have some other news around the governance
side of things, and we're at the point where the
(02:56):
Cadna ecosystem is looking at how we are going to
withdraw this two hundred and seventy five million eights worth
of our treasury funds and we're looking now at possibly
a few options here, and one of the options is
to withdraw it for every single budget request that came
(03:18):
through and met certain thresholds, So there maybe thirty nine
individual withdrawals for each one of the projects that made
it through that threshold. So this is something for the
de reps delegate representers of the Cadema ecosystem to look into.
So if you are a part of that, have a
look at this conversation that is happening at the moment.
It is on a turn of voting platform. I can't
(03:40):
pronounce it starts with the E and I'm trying to
see it here, but no, I can't find the links,
but I will put the link down below for you guys,
so you can vote on that particular one here and
give indicator to the powers above to see which particular
budget withdraw all process we may go through. And most
(04:02):
people leaning towards this thirty nine individual withdrawals and it's
kind of in line with what Amari did. They submitted
one budget request for their particular project and then that
would be released via the de reps of voting in
which is essentially exactly what we did. And I would
like to see more of that so we can scrutinize
each one of the proposals. The only problem is is
(04:24):
that there were over two hundred proposals and you know,
it's really hard to go through. So this shortening process
that we had previously was kind of good, but now
we have to go through it and now vote again.
On the budget withdrawal requests for those thirty nine individual projects. Anyway,
if you are a de rep look for the links
(04:45):
down below. This would be very important for you. Now,
the other big news item that we have at the
moment is what's been happening in this neck ecosystem. Sneck
is the premiere mean coin now on the Cadina blockchain,
and they've been absolute smashing their goals. Now late last
week or early last week, I should say, there was
(05:05):
a massive dumping of snack and this led to speculation
that there could be another centralized exchange listing and it
could have been I don't know, it still may be coming.
But just a couple of days after that was this
big announcement here, this partnership, this strategic collaboration between sneck
(05:26):
and Input Outputs, the creators of the Condita blockchain, the
company that's done all the development for it, they have
now partnered up in this strategic collaboration. You can read
all the details on the Input output blog here. You
can find out more details about what this actually means. Now,
let me just go through a little bit of this
article here. So sneck launched in April twenty twenty three,
(05:48):
and is backed by a vibrant and highly engaged community
and has no initial token allocation to the development team
or venture capitalists. Very very decentralized. For those that don't
remember when they launched they token, they launched it through
their launch pad, and even the creators and founders of
it had to put their own aidy in to buy
into the project. They weren't allocated tokens. They were all
(06:10):
They all had to put their money where their mouth
was and they put their AIDA on the line to
buy in, So they aren't necessarily big whales either, which
is really really impressive. Snack has achieved a series of
impressive milestones, underscoring its growth and community support. With over
one point eight billion eight in trading volume, Stack now
accounts for sixteen percent of all trading activity on Candona,
(06:32):
making it the most traded token on the network and
largest market capitalization after aid Cadina's native token. The project
has attracted more than forty thousand holders and boasted integrations
with over sixty decentralized applications globally. Snack has secured a
spot amongst the top fifteen meme coins by market capitalization
(06:54):
and has a environment community with more than eighty thousand
followers across its social media platforms is absolutely, absolutely huge
goals for the team. They've recently had their Kraken listing
announcement which reached over five hundred and fifty five thousand
views eight hundred plus retweets, demonstrating the brand's strength in
(07:16):
elevating Cardona's visibility. So this is all major, major, big
news that the snack ecosystem has had over the last
couple of months. So snack initiatives including snack dot Fund,
a token launchpad that is responsible up to thirty percent
of Codona's trading activity, and snack Energy, a branded consumer
(07:37):
product that has joined operted over half a million USD
in sales to date. It reflects its success in engaging
the Kadona community. Now, this snack Energy thing, I still
haven't got a can of it yet, which I'm really
annoyed at. But you know, I'll try and work out
a way to get this. It's all only sold in
(07:58):
the US and it might be a little bit hard
to get here in Australia. Anyway, let me read on
here what Charles has to say. Snack community driven approach
aligns with Io's mission to foster such innovations on Kadano.
This collaboration supports our shared goals of enhancing the ecosystem.
Snack's community has become a driving force within Kadana and beyond. Goofy. Chris,
(08:21):
he's the main founder Core, contributed to Snack added this
strategic collaboration with Io validates our work and vision. It
provides us with the resources and support to take Snack
to another level while continuing to drive innovation within the
Kadana community. Now, I'm not sure exactly what this collaboration
(08:42):
will exactly involve, but I'm sure it's leveraging whatever Snack
has and what they're building and the connections that IO
has to bring it forth to the cryptosphere were maybe
over to midnight, maybe even further. I know Charles and
I have a lot of connections. So if they're putting
(09:02):
the Snack team connected with these the top top tier
crypto people out there, I don't know what they're called that.
If that is the case, then it's pushing an elevating
Snack to the next level for sure. So this is
really exciting stuff, and you know, big congratulations to this
Neck team. Now, if you didn't realize the snack token
(09:24):
is actually available on a massive amount of markets. And
I saw a post about this, And if you have
a look at here, let's see they're on all of
these centralized exchanges. You can see a whole bunch of them.
We also have various decentralized exchanges where it is listed
as well. We can see it indicated here by decks.
They see all these centralized ones, it keeps on going going,
(09:46):
And then we've got decentralized ones down here. So they're
on twenty six centralized and decentralized exchanges. So that means
the neck liquidity is spread across all these different exchanges.
If one of these happens to fail, heaven forbid that
it does. Let's say, musically, swap goes belly up next week,
(10:07):
their trading volume is very low, and let's say or
all of that liquidity disappears, it wouldn't have much an
effect on the entire market because so much liquidity is
all over the place on different exchanges. And I thought
that was a really good strategy. I saw it on
X and I asked about, oh, okay, was that the
actual strategy, So that if no one single exchange or
(10:30):
one apocalyptic event on a particular exchange, it wouldn't wipe
out the project or affect its holders. I thought that
was amazing. That was really really a brilliant strategy. It
would have taken many, many months to years to actually
get all of these exchange listings, especially the centralized ones.
It takes a lot of effort and a lot of
(10:52):
money to actually get to all of these particular listings.
The biggest there was with Kraken with a major major
that may announcement a couple of weeks ago, so you know,
big big ups for the Snack team. Now there's some
other things that are happening with the snack community, and
I thought this is pretty cool because the snack community
have its own fund and projects can use the ip
(11:14):
of snack to build their own projects and then contribute
back to that fund. And this one here, I thought
was brilliant. And this is the snack figurines. I actually
jumped in on this one as well, and I purchased
one of these neck figurines. I thought it looked really
cool in the backdrop behind me. But this is the
figurine here, So this this is what you get there.
I don't know how many that are I think there
(11:35):
were like fifteen different figurines. They may be three D printed,
I'm not sure exactly, and then an artist will go
through and paint all of them. So there's one thy
one hundred and eleven of these and it's all a
part of the Snacker you know vibe. They've sold six
hundred and twenty five at the time of this recording,
so they've gone over halfway, but they've still got a
(11:57):
lot more to go now. They're not cheap, They're not cheap. Okay,
this is what you can get down here, so you
can have a look on the website and you can
see what you could possibly get your hands on, or
check out that gold one that's pretty cool. So it's
all randomized as well, so you don't know what you're
going to get, so it's pretty cool. It's like an
(12:18):
NFT drop, but physical figurine, so really really cool stuff.
Absolutely love this stuff here. This is some of their
previous work. And I saw these figurines in the community previously,
so this isn't a you know, a shot in the dark,
a project that's just come by and promised, you know,
(12:39):
figurines and then you never see them again. These guys
have done these before, and I saw this one back
at I think it was rare, not rare. See NFT
Con back in twenty twenty one, roughly twenty or twenty twenty.
The years blend for me, it doesn't matter. But I've
seen this one before and I wanted to get my
hands on this one here, but someone else got it
(13:00):
before I could. But look at that. This is the
type of detail that we are expecting from the Snack figurines,
and I thought this piece was absolutely stunning. I would
have loved to have this one here, But you know
this is the type of work the project does, and
you know we can expect ours neck figurines to look
something like this. So if you have jumped in on
(13:20):
the Snack Snack Figurines bandwagon, here awesome stuff. If you haven't,
I'm not affiliated with the project. They're not paying me
for anything here, but if you're interested, check it out
so you can claim yours simply by clicking on the
claim pre order. It does cost quite a bit. I
think I paid. Oh I can't remember what I paid
(13:42):
now I try. I just paid and then I didn't look.
But you can find out for yourself. Go to the
claim claim yours. Here go through the pre order process. Oh,
here we go. So I paid two hundred US dollars
for one of them, and I paid an eider. So
whatever that works out to be plus tax and capital
gains tax for cashing out the aid. Oh boy, but
(14:05):
it's pretty cool. Anyway. Let's move on to the next story.
Snap figurine, it's links down blow for you guys. This
next one here is just a shout out from Patrick
Tobler and Frederick Gregard, the CEO of the Kadana Foundation,
and it's just pointing out the amount of efforts that
the Snack team have put in over the last two
and a half years. Let me read this out for
(14:25):
the audio listeners out there. The Snack team has put
more hard work into Snack than igually any other meme
coin has. And that's any meme coin across any crypto blockchain,
any ecosystem. They're not succeeding because it's so easy to
succeed with the Cadano meme cooins. The opposite, they're succeeding
(14:46):
despite it being extra hard. That deserves insane amount of respect.
I think Snack will one day be top one meme
coin in the world, and I kind of agree with that.
The amount of effort, the amount of community engagement that
the project is having is definitely something to look out
for and to get the tension of one input output
(15:08):
with this strategic collaboration, but then also acknowledgment by the
Kadana Foundation as well, I think is definitely top tier stuff. Now,
the other thing that I've done recently is put in
all these snack gifts on X. So if you're going
through and you're applying to someone in a gift, you
can and if you just type in snack for example,
(15:32):
you'll start seeing all of these specific snack related memes
and it will slowly jump up to the top as
soon as it starts gaining more popularity. But you can
see down here, we'll scroll a little bit further, we
can see the snap mean coin related ones, and we
can keep going. We'll see more and more of them.
So they've uploaded how many was it hundreds so no
(15:54):
specific number that so hundreds of gifts into x search functions,
so you should be able to see them all appear,
and you should be able to snack anything as a
response very very soon. So that's really cool stuff. Awesome
awesome work from the Snack team. Now, the next big
project that has really been pushing the Kadana ecosystem is
Strike Finance, the perpetuals platform on Kadano and recently this
(16:18):
pers surpassed four hundred k in open interest for a
total of six hundred K eight. So this is the
amount of TVL locked in on their platform. So when
you go to the platform, you'll be doing longs or shorts,
so you're predicting if the market will go up or down.
And people have put in over six hundred K eight
on their platform, so that's really impressive stuff considering they
(16:42):
only launched about three weeks ago. And the good thing
for strike stakers, so if you have the striked token
and you've staked on their platform, they've already surpassed six
thousand eight for their next distribution and have completed a
total of sixteen, two hundred and seventy nine transactions on
the platform. So the idea here is is when users
(17:03):
use the platform, it will take some fees and those
fees are then passed on to the stakers of the
strike token. So they've earned quite a bit of aida
over the past distribution periods. So this is really good
for anyone within the Strike ecosystem. And I'm going to
talk a little bit about how you can actually earn
from the Strike platform in a moment too, So let
(17:23):
me go through these other updates here. So this is
pretty cool. Today mark's a new record for our highest
revenue date in our short history with forty thousand eight,
So that's forty thousand and eight a day. That's really
good numbers for the team. There. We have a clear
and concise roadmap that includes launching user LP, increasing maps,
position sizes, snack perrops. So this tips in with the
(17:47):
Snack ecosystem, accessing more leverage with the strike as collateral,
and much more. And it's so exciting what the team
are doing with these upcoming features. We believe pretty soon
we can be doing forty thousand and eight daily. This
will put us on pace for at thirteen point four
million eight in yearly revenue. Really really exciting stuff. And
(18:09):
to put into perspective, if you have a look at
the revenue across other defive platforms across all of crypto,
so this is where strike finance should be appearing right here,
so above thoor chain decks and just below Mayan here
just right there, So mid twenty eight thousand daily daily revenue,
(18:29):
so that's absolutely amazing stuff. It's beating out some of
these sole trading bots. But you know, it's still got
a long way to go to climb up to the
top ten. But it is definitely early days for the
team and what they are delivering for the ecosystem. We
don't even have user liquidity yet, so you know, we're
still very very early in regards to when we will
(18:51):
see all those extra features. So lots of growth here
for the team. Now, this is a really good post
by Defy the os and he points out different ways
that you can make revenue off the Strike platform. So
let me go through this for you guys. So you
have an idea of what you can possibly do with Strike.
So first off, the easiest one is to stake your strike,
(19:14):
So stake strike on Strike, done it, and get paid
in AIDA by collecting one hundred percent of the opening fees.
So that is one way. So if you stake the
strike token on the platform, you get to earn that
revenue fee from the platform. In the next two weeks,
the LP on the DAPT would be open to public.
You will earn aida through liquidations and hourly borrowing fees.
(19:36):
One hundred percent goes to the LPs, So this means
you can put liquidy onto the platform that people can borrow,
and if anyone gets liquidated on the platform, this is
where the revenue goes too. So if you are the
LP provider, people get liquidated for borrowing and then you
(19:56):
get those fees back. So that is a nice way
to put your aid to work. So you've got a
lot of options there already, so you can stay, or
you can provide liquidity to the platform, so really cool
stuff there. You can also provide liquidity on different DEXes
that are trading the strike token, so Splash Protocol is
one giving you an APR of sixty three percent at
(20:19):
the moment, So it's high because they're looking for more liquidity,
not because they're trying to game the system or anything
like that. They're purely looking for more liquidity and giving
out the rewards accordingly. So once the liquidity does rush
in and there is more on the platform, you'll see
this APR go down. You can see that on the
(20:40):
mintswap decks. You can provide the equity on mint Swap
and the APR there is at forty percent, so it's
going down there already. So if you are interested in
providing liquidity on the decks in terms of liquidity provided tokens,
you can do it on splash or you can do
it on Mintswap and earn a nice APR from that.
(21:00):
The fifth thing you can do you can trade your
heart out with leverage longs and shorts with ten x leverage.
Now this one's a little bit harder to do because
they keep on running out of liquidity on the platform,
so you will need to get in quick when they
launch more liquidity each time. So the team, the Strip
Finance team have been putting liquidity on themselves so that
(21:22):
users can go long or short on the platform with
ten x leverage. But if you do go that high,
make sure you know when you will get liquidate at
what price your long or short will get liquidated at,
because you are at risk of losing all of your assets,
but if you exit at the right time, you can
make a ten x gain on your trade. So this
(21:44):
is really good for those small players out there that
don't have a lot of aid to play with but
want to get into the trading environment and want to
make some nice gains from it. So let's say you
only have one hundred and eight. If you trade a
two percent swing, it's not really that excited. But if
you managed to ten x that and make twenty, hey,
(22:04):
it's just that little bit better, isn't it. So it
makes those gains just that little bit better for small traders. Yeah,
I don't forget there are a lot of eight to
fees in there. A lot of these eight to fees
are going back to the strike steakers, So whatever trading
you do, make sure you're looking into your fees as well,
otherwise the fees are going to wipe you out. So
(22:27):
soon we're going to see twenty x leverage. Soon we're
going to see a strike token burn, and soon we're
going to see the low the flow Sorry, the flow
DeFi team put in perpetual loans in integrating that in
with strike as well. So a lot of really cool
features coming up, so look out for all of that.
Check out Strike Finance if you haven't done so yet,
(22:48):
all the links down blow for you guys. Now when
other cool ecosystem US updates. We've got the Fluid Tokens
team launching perpetual loans. Really really soon. So this is
the test net. I'll put links down below if it
is available, but you can check that on out and
how I learn how you can get loans on Kadana
(23:09):
with no time limits, so you still have to watch
when you might get liquidated, but the time limit factor
is one thing that you don't need to worry about anymore.
So perpetual loans coming really really soon thanks to fluid tokens.
This other cool news story is Midguard integrating in to
lace wallet. So Midguard is an L two for Kadana
(23:31):
escaling L two that's being built by Anastasia Labs at
the moment, and they have this new integration onto lace wallet.
So Lace wallet is one of the very popular wallets
on the Kadana ecosystem at the moment. They've got to
the bitcoin integration and now they've got the Midguard L
two integration too, so really really cool stuff. Lots of
devs definitely building out there. This is a big shout
(23:54):
out for Donogo and they're doing the borrowing and lending
protocol side of things, and they have now got USDM
or USDA at twelve percent APR and they have a
swap to JED and supply at twenty two percent, so
they've got a lot of good aprs to try and
attract more users to the platform at the moment. So
this is something you could look into. Like they mentioned here,
(24:16):
this is not financial advice to your own research, but
this is another platform that you can look into to
see if you can earn some extra yield by lending
out your stable coins out there. So something you can
look into, and it's a nice option to start playing
around with. This news update here is around Badega Markets.
This is the other project that ties in very closely
(24:39):
with Strike. It's I believe it's the same team that
is building a lot of the stuff the smart contracts
behind it, but they have definitely been hitting their goals
as well. Check out this here. This is the statistics
on the taptools and this gives you the idea of
what's going on within the Kadama ecosystem. And they're at
(24:59):
the moment the top token being traded within the Kadana ecosystem.
So have a look at that. We've got the one
hour of the twenty four hour and the seven day
right up there at the moment, we've got Strike finance.
Of course, the Strike token doing really well, but the
Bidega token doing phenomenally well up there as well. So
if you are into prediction markets and like what Bidega
(25:23):
are doing, keep an eye on what their token is
doing as well. Now they have a massive partnership with
Delta DeFi as well, and this will allow you to
use hydra or L two scaling with Bidega markets. So
this will allow you to do really really fast prediction bets.
(25:43):
But then also when trading, the trading of those prediction
bets goes online. This is Bedego Markets v three. You'll
be able to trade your positions back and forth on
their market as well. So this allows you to give
you a brand new option in regards to trading your
position on Bedeca markets. And they will be hopefully integrating
in the hydrate side of things to do the L
(26:07):
two scaling of their platform. So this is really exciting stuff.
Will really speed things up and make things a lot faster.
So bring it up to a world class prediction market
essentially what they're seeing here, so look out for this
one here. Delta DeFi are bringing their hydro powered trading
platform that's coming really soon. The said in this quarter
(26:28):
we should be able to see their platform live on
test net and we'll be able to play with it.
So I'll let you guys know when that's live and running.
But this one here with Bedeca Markets, very very exciting announcement. Now,
this one here, this ties back into Flow and they're
borrowing and lending protocol as well. So they're doing their
public test net. So our protocol is working silky smooth,
(26:51):
and we're releasing our public test net this Monday. So
Monday's went on recording this, so after you see this recording,
hopefully they've launched their test net. Here are some features
isolated landing pools, no set maturity date, so this is
perpetual loans as well, add collateral to your position, world
class desktop mobuck experience. Now we should see this integrate
(27:12):
into strike Finance as well, so that's really exciting stuff.
So you can get loans from Flow, put it straight
into strike Finance leverage twenty x hopefully one day soon.
I just go crazy with some of the protocol stuff
on Kadano, So really really cool, exciting stuff. Keep an
eye out for what the Flow team are doing. Now.
(27:34):
This last one here is just a big shout out
to some of the de reps out there in the ecosystem.
Kadana Yoda has been working within the de rep space
for quite a long time for free, and he has
now recently set up his own stake pool. So this
is a Kadano statepool. So if you're delegating to Cardana
Yoda as a de rep, you can now delegate to
(27:57):
his stake pool as well and help him raise some
funds and pay for some of the work that he's
doing or the research, et cetera, et cetera. So that's
how I generate most of my revenue. I have my
own state pool, and I know a lot of you
guys out there delegate to my pool, and I really
appreciate you guys, and a big shout out to all
the channel members as well. You guys really help support
(28:20):
the worker I do. And if you are a channel member,
thank you so much. If you're interested in becoming a
channel member and supporting my work, links down below and
more information about that as well. But Kadana Yoda does
some amazing visual illustrations and educational material about what is
happening in the de rep space, and this is definitely
(28:41):
a de rep that you should consider delegated to as
a de rep and also as under his state pool
as well. So look for Amanda as the Mandalorian. If
you find that within your Cardano wallet or stackpool explorer,
you'll be able to find that and delegate to his
pool as well. So awesome work from a Kadana yoda there,
(29:02):
and congratulations on setting up your own stakepool. Now that's it.
That's all I have for this particular news update. I
know there was a lot there, but big ups to
strike Finance, the snack team and also Bidegger Markets. They've
been absolutely killing it with all the work they're doing.
And also congratulations to Amaru for their very for being
the very first Kadano Governments Info action to make it
(29:26):
through that fifty percent threshold and get funding through the
Kadano Treasury. Really cool stuff. I know they're working on
their smart contracts at the moment to get all those
treasury withdrawals are put in place, but we'll see that
to come into play really soon. Awesome work. Now, if
you enjoy this podcast episode, make sure you hit that
thumbs up down below, hit the scribe notification bell, and
I'll see you guys in the next update.
All right, we've got some brilliant news here in the
Kaduna ecosystem. Some projects here are absolutely smashing the metrics
and pushing the chain forward. We have Snack who are
absolutely hitting every single goal and doing some amazing things
for the Kaduna ecosystem. They've got a brand new partnership here.
This is really really big one. We also have news
and updates from strike Finance, the perpetual platform on Cardano.
(00:22):
They're rising up the charts here and beating a lot
of the other ecosystem projects in other blockchains, so this
is absolutely amazing. So this is something to definitely look into.
And we have some other news from other projects within
the ecosystem. So lots to go through here. Let's get
to it everyone, I'm Peter. Make sure you hit that
thumbs up on your way in that light. Really works
(00:44):
with the YouTube algorithm, so really appreciate it if you
take just one moment to hit that like button, and
if you can hit the subscribe as well, really really helps.
So let's go into the news updates here. The very
first one is around Amaru now. Maru is the alternative
node for the kad ecosystem. It's written in Rust. So
it opens up a whole new playing field for developers
(01:06):
that are wanting to get in and build on Kadana.
They can now build with Rust instead of Haskell, which
has a very limited developer pool at the moment. So
now opening this up to Rust allows two things. One
a bigger developer pool so more developers can come in,
but then also an alternative node for the ecosystem making
(01:27):
it more decentralized. So we have the main Haskel node
which has been running the blockchain for seven plus years
and has been doing an amazing job, absolutely flawless, but
now we have an alternative written in Rust, and this
just brings up that level decentralization even more so if
the Haskell one for whatever reason fails within the future,
(01:50):
we know that a portion of the community be running
the Rust version, and the Rust version will be tested
and just as much scrutinized as the Haskell one, so
we know that we have an alternative and a fallback
if anything was to happen, and there will be more
and more of these different types of nodes coming into
the market. So we have a go laying implementation as
(02:12):
well with Dingo, so there'll be more of these along
the way, but this is now the very first governance action,
so it's a Caadano Community Info budget action that had
reached over that fifty percent yes threshold. That means their
budget proposal that they put up put forth can now
be submitted for smart contract withdrawals from the Cardana treasury.
(02:35):
And they needed a certain I think it was one
point five million eight to complete the project and launch
this Haskel node, so they now have the funding. So
this is a really good signal and indicator for the
Condona ecosystem, making it a lot more resilient and robust.
And we do have some other news around the governance
side of things, and we're at the point where the
(02:56):
Cadna ecosystem is looking at how we are going to
withdraw this two hundred and seventy five million eights worth
of our treasury funds and we're looking now at possibly
a few options here, and one of the options is
to withdraw it for every single budget request that came
(03:18):
through and met certain thresholds, So there maybe thirty nine
individual withdrawals for each one of the projects that made
it through that threshold. So this is something for the
de reps delegate representers of the Cadema ecosystem to look into.
So if you are a part of that, have a
look at this conversation that is happening at the moment.
It is on a turn of voting platform. I can't
(03:40):
pronounce it starts with the E and I'm trying to
see it here, but no, I can't find the links,
but I will put the link down below for you guys,
so you can vote on that particular one here and
give indicator to the powers above to see which particular
budget withdraw all process we may go through. And most
(04:02):
people leaning towards this thirty nine individual withdrawals and it's
kind of in line with what Amari did. They submitted
one budget request for their particular project and then that
would be released via the de reps of voting in
which is essentially exactly what we did. And I would
like to see more of that so we can scrutinize
each one of the proposals. The only problem is is
(04:24):
that there were over two hundred proposals and you know,
it's really hard to go through. So this shortening process
that we had previously was kind of good, but now
we have to go through it and now vote again.
On the budget withdrawal requests for those thirty nine individual projects. Anyway,
if you are a de rep look for the links
(04:45):
down below. This would be very important for you. Now,
the other big news item that we have at the
moment is what's been happening in this neck ecosystem. Sneck
is the premiere mean coin now on the Cadina blockchain,
and they've been absolute smashing their goals. Now late last
week or early last week, I should say, there was
(05:05):
a massive dumping of snack and this led to speculation
that there could be another centralized exchange listing and it
could have been I don't know, it still may be coming.
But just a couple of days after that was this
big announcement here, this partnership, this strategic collaboration between sneck
(05:26):
and Input Outputs, the creators of the Condita blockchain, the
company that's done all the development for it, they have
now partnered up in this strategic collaboration. You can read
all the details on the Input output blog here. You
can find out more details about what this actually means. Now,
let me just go through a little bit of this
article here. So sneck launched in April twenty twenty three,
(05:48):
and is backed by a vibrant and highly engaged community
and has no initial token allocation to the development team
or venture capitalists. Very very decentralized. For those that don't
remember when they launched they token, they launched it through
their launch pad, and even the creators and founders of
it had to put their own aidy in to buy
into the project. They weren't allocated tokens. They were all
(06:10):
They all had to put their money where their mouth
was and they put their AIDA on the line to
buy in, So they aren't necessarily big whales either, which
is really really impressive. Snack has achieved a series of
impressive milestones, underscoring its growth and community support. With over
one point eight billion eight in trading volume, Stack now
accounts for sixteen percent of all trading activity on Candona,
(06:32):
making it the most traded token on the network and
largest market capitalization after aid Cadina's native token. The project
has attracted more than forty thousand holders and boasted integrations
with over sixty decentralized applications globally. Snack has secured a
spot amongst the top fifteen meme coins by market capitalization
(06:54):
and has a environment community with more than eighty thousand
followers across its social media platforms is absolutely, absolutely huge
goals for the team. They've recently had their Kraken listing
announcement which reached over five hundred and fifty five thousand
views eight hundred plus retweets, demonstrating the brand's strength in
(07:16):
elevating Cardona's visibility. So this is all major, major, big
news that the snack ecosystem has had over the last
couple of months. So snack initiatives including snack dot Fund,
a token launchpad that is responsible up to thirty percent
of Codona's trading activity, and snack Energy, a branded consumer
(07:37):
product that has joined operted over half a million USD
in sales to date. It reflects its success in engaging
the Kadona community. Now, this snack Energy thing, I still
haven't got a can of it yet, which I'm really
annoyed at. But you know, I'll try and work out
a way to get this. It's all only sold in
(07:58):
the US and it might be a little bit hard
to get here in Australia. Anyway, let me read on
here what Charles has to say. Snack community driven approach
aligns with Io's mission to foster such innovations on Kadano.
This collaboration supports our shared goals of enhancing the ecosystem.
Snack's community has become a driving force within Kadana and beyond. Goofy. Chris,
(08:21):
he's the main founder Core, contributed to Snack added this
strategic collaboration with Io validates our work and vision. It
provides us with the resources and support to take Snack
to another level while continuing to drive innovation within the
Kadana community. Now, I'm not sure exactly what this collaboration
(08:42):
will exactly involve, but I'm sure it's leveraging whatever Snack
has and what they're building and the connections that IO
has to bring it forth to the cryptosphere were maybe
over to midnight, maybe even further. I know Charles and
I have a lot of connections. So if they're putting
(09:02):
the Snack team connected with these the top top tier
crypto people out there, I don't know what they're called that.
If that is the case, then it's pushing an elevating
Snack to the next level for sure. So this is
really exciting stuff, and you know, big congratulations to this
Neck team. Now, if you didn't realize the snack token
(09:24):
is actually available on a massive amount of markets. And
I saw a post about this, And if you have
a look at here, let's see they're on all of
these centralized exchanges. You can see a whole bunch of them.
We also have various decentralized exchanges where it is listed
as well. We can see it indicated here by decks.
They see all these centralized ones, it keeps on going going,
(09:46):
And then we've got decentralized ones down here. So they're
on twenty six centralized and decentralized exchanges. So that means
the neck liquidity is spread across all these different exchanges.
If one of these happens to fail, heaven forbid that
it does. Let's say, musically, swap goes belly up next week,
(10:07):
their trading volume is very low, and let's say or
all of that liquidity disappears, it wouldn't have much an
effect on the entire market because so much liquidity is
all over the place on different exchanges. And I thought
that was a really good strategy. I saw it on
X and I asked about, oh, okay, was that the
actual strategy, So that if no one single exchange or
(10:30):
one apocalyptic event on a particular exchange, it wouldn't wipe
out the project or affect its holders. I thought that
was amazing. That was really really a brilliant strategy. It
would have taken many, many months to years to actually
get all of these exchange listings, especially the centralized ones.
It takes a lot of effort and a lot of
(10:52):
money to actually get to all of these particular listings.
The biggest there was with Kraken with a major major
that may announcement a couple of weeks ago, so you know,
big big ups for the Snack team. Now there's some
other things that are happening with the snack community, and
I thought this is pretty cool because the snack community
have its own fund and projects can use the ip
(11:14):
of snack to build their own projects and then contribute
back to that fund. And this one here, I thought
was brilliant. And this is the snack figurines. I actually
jumped in on this one as well, and I purchased
one of these neck figurines. I thought it looked really
cool in the backdrop behind me. But this is the
figurine here, So this this is what you get there.
I don't know how many that are I think there
(11:35):
were like fifteen different figurines. They may be three D printed,
I'm not sure exactly, and then an artist will go
through and paint all of them. So there's one thy
one hundred and eleven of these and it's all a
part of the Snacker you know vibe. They've sold six
hundred and twenty five at the time of this recording,
so they've gone over halfway, but they've still got a
(11:57):
lot more to go now. They're not cheap, They're not cheap. Okay,
this is what you can get down here, so you
can have a look on the website and you can
see what you could possibly get your hands on, or
check out that gold one that's pretty cool. So it's
all randomized as well, so you don't know what you're
going to get, so it's pretty cool. It's like an
(12:18):
NFT drop, but physical figurine, so really really cool stuff.
Absolutely love this stuff here. This is some of their
previous work. And I saw these figurines in the community previously,
so this isn't a you know, a shot in the dark,
a project that's just come by and promised, you know,
(12:39):
figurines and then you never see them again. These guys
have done these before, and I saw this one back
at I think it was rare, not rare. See NFT
Con back in twenty twenty one, roughly twenty or twenty twenty.
The years blend for me, it doesn't matter. But I've
seen this one before and I wanted to get my
hands on this one here, but someone else got it
(13:00):
before I could. But look at that. This is the
type of detail that we are expecting from the Snack figurines,
and I thought this piece was absolutely stunning. I would
have loved to have this one here, But you know
this is the type of work the project does, and
you know we can expect ours neck figurines to look
something like this. So if you have jumped in on
(13:20):
the Snack Snack Figurines bandwagon, here awesome stuff. If you haven't,
I'm not affiliated with the project. They're not paying me
for anything here, but if you're interested, check it out
so you can claim yours simply by clicking on the
claim pre order. It does cost quite a bit. I
think I paid. Oh I can't remember what I paid
(13:42):
now I try. I just paid and then I didn't look.
But you can find out for yourself. Go to the
claim claim yours. Here go through the pre order process. Oh,
here we go. So I paid two hundred US dollars
for one of them, and I paid an eider. So
whatever that works out to be plus tax and capital
gains tax for cashing out the aid. Oh boy, but
(14:05):
it's pretty cool. Anyway. Let's move on to the next story.
Snap figurine, it's links down blow for you guys. This
next one here is just a shout out from Patrick
Tobler and Frederick Gregard, the CEO of the Kadana Foundation,
and it's just pointing out the amount of efforts that
the Snack team have put in over the last two
and a half years. Let me read this out for
(14:25):
the audio listeners out there. The Snack team has put
more hard work into Snack than igually any other meme
coin has. And that's any meme coin across any crypto blockchain,
any ecosystem. They're not succeeding because it's so easy to
succeed with the Cadano meme cooins. The opposite, they're succeeding
(14:46):
despite it being extra hard. That deserves insane amount of respect.
I think Snack will one day be top one meme
coin in the world, and I kind of agree with that.
The amount of effort, the amount of community engagement that
the project is having is definitely something to look out
for and to get the tension of one input output
(15:08):
with this strategic collaboration, but then also acknowledgment by the
Kadana Foundation as well, I think is definitely top tier stuff. Now,
the other thing that I've done recently is put in
all these snack gifts on X. So if you're going
through and you're applying to someone in a gift, you
can and if you just type in snack for example,
(15:32):
you'll start seeing all of these specific snack related memes
and it will slowly jump up to the top as
soon as it starts gaining more popularity. But you can
see down here, we'll scroll a little bit further, we
can see the snap mean coin related ones, and we
can keep going. We'll see more and more of them.
So they've uploaded how many was it hundreds so no
(15:54):
specific number that so hundreds of gifts into x search functions,
so you should be able to see them all appear,
and you should be able to snack anything as a
response very very soon. So that's really cool stuff. Awesome
awesome work from the Snack team. Now, the next big
project that has really been pushing the Kadana ecosystem is
Strike Finance, the perpetuals platform on Kadano and recently this
(16:18):
pers surpassed four hundred k in open interest for a
total of six hundred K eight. So this is the
amount of TVL locked in on their platform. So when
you go to the platform, you'll be doing longs or shorts,
so you're predicting if the market will go up or down.
And people have put in over six hundred K eight
on their platform, so that's really impressive stuff considering they
(16:42):
only launched about three weeks ago. And the good thing
for strike stakers, so if you have the striked token
and you've staked on their platform, they've already surpassed six
thousand eight for their next distribution and have completed a
total of sixteen, two hundred and seventy nine transactions on
the platform. So the idea here is is when users
(17:03):
use the platform, it will take some fees and those
fees are then passed on to the stakers of the
strike token. So they've earned quite a bit of aida
over the past distribution periods. So this is really good
for anyone within the Strike ecosystem. And I'm going to
talk a little bit about how you can actually earn
from the Strike platform in a moment too, So let
(17:23):
me go through these other updates here. So this is
pretty cool. Today mark's a new record for our highest
revenue date in our short history with forty thousand eight,
So that's forty thousand and eight a day. That's really
good numbers for the team. There. We have a clear
and concise roadmap that includes launching user LP, increasing maps,
position sizes, snack perrops. So this tips in with the
(17:47):
Snack ecosystem, accessing more leverage with the strike as collateral,
and much more. And it's so exciting what the team
are doing with these upcoming features. We believe pretty soon
we can be doing forty thousand and eight daily. This
will put us on pace for at thirteen point four
million eight in yearly revenue. Really really exciting stuff. And
(18:09):
to put into perspective, if you have a look at
the revenue across other defive platforms across all of crypto,
so this is where strike finance should be appearing right here,
so above thoor chain decks and just below Mayan here
just right there, So mid twenty eight thousand daily daily revenue,
(18:29):
so that's absolutely amazing stuff. It's beating out some of
these sole trading bots. But you know, it's still got
a long way to go to climb up to the
top ten. But it is definitely early days for the
team and what they are delivering for the ecosystem. We
don't even have user liquidity yet, so you know, we're
still very very early in regards to when we will
(18:51):
see all those extra features. So lots of growth here
for the team. Now, this is a really good post
by Defy the os and he points out different ways
that you can make revenue off the Strike platform. So
let me go through this for you guys. So you
have an idea of what you can possibly do with Strike.
So first off, the easiest one is to stake your strike,
(19:14):
So stake strike on Strike, done it, and get paid
in AIDA by collecting one hundred percent of the opening fees.
So that is one way. So if you stake the
strike token on the platform, you get to earn that
revenue fee from the platform. In the next two weeks,
the LP on the DAPT would be open to public.
You will earn aida through liquidations and hourly borrowing fees.
(19:36):
One hundred percent goes to the LPs, So this means
you can put liquidy onto the platform that people can borrow,
and if anyone gets liquidated on the platform, this is
where the revenue goes too. So if you are the
LP provider, people get liquidated for borrowing and then you
(19:56):
get those fees back. So that is a nice way
to put your aid to work. So you've got a
lot of options there already, so you can stay, or
you can provide liquidity to the platform, so really cool
stuff there. You can also provide liquidity on different DEXes
that are trading the strike token, so Splash Protocol is
one giving you an APR of sixty three percent at
(20:19):
the moment, So it's high because they're looking for more liquidity,
not because they're trying to game the system or anything
like that. They're purely looking for more liquidity and giving
out the rewards accordingly. So once the liquidity does rush
in and there is more on the platform, you'll see
this APR go down. You can see that on the
(20:40):
mintswap decks. You can provide the equity on mint Swap
and the APR there is at forty percent, so it's
going down there already. So if you are interested in
providing liquidity on the decks in terms of liquidity provided tokens,
you can do it on splash or you can do
it on Mintswap and earn a nice APR from that.
(21:00):
The fifth thing you can do you can trade your
heart out with leverage longs and shorts with ten x leverage.
Now this one's a little bit harder to do because
they keep on running out of liquidity on the platform,
so you will need to get in quick when they
launch more liquidity each time. So the team, the Strip
Finance team have been putting liquidity on themselves so that
(21:22):
users can go long or short on the platform with
ten x leverage. But if you do go that high,
make sure you know when you will get liquidate at
what price your long or short will get liquidated at,
because you are at risk of losing all of your assets,
but if you exit at the right time, you can
make a ten x gain on your trade. So this
(21:44):
is really good for those small players out there that
don't have a lot of aid to play with but
want to get into the trading environment and want to
make some nice gains from it. So let's say you
only have one hundred and eight. If you trade a
two percent swing, it's not really that excited. But if
you managed to ten x that and make twenty, hey,
(22:04):
it's just that little bit better, isn't it. So it
makes those gains just that little bit better for small traders. Yeah,
I don't forget there are a lot of eight to
fees in there. A lot of these eight to fees
are going back to the strike steakers, So whatever trading
you do, make sure you're looking into your fees as well,
otherwise the fees are going to wipe you out. So
(22:27):
soon we're going to see twenty x leverage. Soon we're
going to see a strike token burn, and soon we're
going to see the low the flow Sorry, the flow
DeFi team put in perpetual loans in integrating that in
with strike as well. So a lot of really cool
features coming up, so look out for all of that.
Check out Strike Finance if you haven't done so yet,
(22:48):
all the links down blow for you guys. Now when
other cool ecosystem US updates. We've got the Fluid Tokens
team launching perpetual loans. Really really soon. So this is
the test net. I'll put links down below if it
is available, but you can check that on out and
how I learn how you can get loans on Kadana
(23:09):
with no time limits, so you still have to watch
when you might get liquidated, but the time limit factor
is one thing that you don't need to worry about anymore.
So perpetual loans coming really really soon thanks to fluid tokens.
This other cool news story is Midguard integrating in to
lace wallet. So Midguard is an L two for Kadana
(23:31):
escaling L two that's being built by Anastasia Labs at
the moment, and they have this new integration onto lace wallet.
So Lace wallet is one of the very popular wallets
on the Kadana ecosystem at the moment. They've got to
the bitcoin integration and now they've got the Midguard L
two integration too, so really really cool stuff. Lots of
devs definitely building out there. This is a big shout
(23:54):
out for Donogo and they're doing the borrowing and lending
protocol side of things, and they have now got USDM
or USDA at twelve percent APR and they have a
swap to JED and supply at twenty two percent, so
they've got a lot of good aprs to try and
attract more users to the platform at the moment. So
this is something you could look into. Like they mentioned here,
(24:16):
this is not financial advice to your own research, but
this is another platform that you can look into to
see if you can earn some extra yield by lending
out your stable coins out there. So something you can
look into, and it's a nice option to start playing
around with. This news update here is around Badega Markets.
This is the other project that ties in very closely
(24:39):
with Strike. It's I believe it's the same team that
is building a lot of the stuff the smart contracts
behind it, but they have definitely been hitting their goals
as well. Check out this here. This is the statistics
on the taptools and this gives you the idea of
what's going on within the Kadama ecosystem. And they're at
(24:59):
the moment the top token being traded within the Kadana ecosystem.
So have a look at that. We've got the one
hour of the twenty four hour and the seven day
right up there at the moment, we've got Strike finance.
Of course, the Strike token doing really well, but the
Bidega token doing phenomenally well up there as well. So
if you are into prediction markets and like what Bidega
(25:23):
are doing, keep an eye on what their token is
doing as well. Now they have a massive partnership with
Delta DeFi as well, and this will allow you to
use hydra or L two scaling with Bidega markets. So
this will allow you to do really really fast prediction bets.
(25:43):
But then also when trading, the trading of those prediction
bets goes online. This is Bedego Markets v three. You'll
be able to trade your positions back and forth on
their market as well. So this allows you to give
you a brand new option in regards to trading your
position on Bedeca markets. And they will be hopefully integrating
in the hydrate side of things to do the L
(26:07):
two scaling of their platform. So this is really exciting stuff.
Will really speed things up and make things a lot faster.
So bring it up to a world class prediction market
essentially what they're seeing here, so look out for this
one here. Delta DeFi are bringing their hydro powered trading
platform that's coming really soon. The said in this quarter
(26:28):
we should be able to see their platform live on
test net and we'll be able to play with it.
So I'll let you guys know when that's live and running.
But this one here with Bedeca Markets, very very exciting announcement. Now,
this one here, this ties back into Flow and they're
borrowing and lending protocol as well. So they're doing their
public test net. So our protocol is working silky smooth,
(26:51):
and we're releasing our public test net this Monday. So
Monday's went on recording this, so after you see this recording,
hopefully they've launched their test net. Here are some features
isolated landing pools, no set maturity date, so this is
perpetual loans as well, add collateral to your position, world
class desktop mobuck experience. Now we should see this integrate
(27:12):
into strike Finance as well, so that's really exciting stuff.
So you can get loans from Flow, put it straight
into strike Finance leverage twenty x hopefully one day soon.
I just go crazy with some of the protocol stuff
on Kadano, So really really cool, exciting stuff. Keep an
eye out for what the Flow team are doing. Now.
(27:34):
This last one here is just a big shout out
to some of the de reps out there in the ecosystem.
Kadana Yoda has been working within the de rep space
for quite a long time for free, and he has
now recently set up his own stake pool. So this
is a Kadano statepool. So if you're delegating to Cardana
Yoda as a de rep, you can now delegate to
(27:57):
his stake pool as well and help him raise some
funds and pay for some of the work that he's
doing or the research, et cetera, et cetera. So that's
how I generate most of my revenue. I have my
own state pool, and I know a lot of you
guys out there delegate to my pool, and I really
appreciate you guys, and a big shout out to all
the channel members as well. You guys really help support
(28:20):
the worker I do. And if you are a channel member,
thank you so much. If you're interested in becoming a
channel member and supporting my work, links down below and
more information about that as well. But Kadana Yoda does
some amazing visual illustrations and educational material about what is
happening in the de rep space, and this is definitely
(28:41):
a de rep that you should consider delegated to as
a de rep and also as under his state pool
as well. So look for Amanda as the Mandalorian. If
you find that within your Cardano wallet or stackpool explorer,
you'll be able to find that and delegate to his
pool as well. So awesome work from a Kadana yoda there,
(29:02):
and congratulations on setting up your own stakepool. Now that's it.
That's all I have for this particular news update. I
know there was a lot there, but big ups to
strike Finance, the snack team and also Bidegger Markets. They've
been absolutely killing it with all the work they're doing.
And also congratulations to Amaru for their very for being
the very first Kadano Governments Info action to make it
(29:26):
through that fifty percent threshold and get funding through the
Kadano Treasury. Really cool stuff. I know they're working on
their smart contracts at the moment to get all those
treasury withdrawals are put in place, but we'll see that
to come into play really soon. Awesome work. Now, if
you enjoy this podcast episode, make sure you hit that
thumbs up down below, hit the scribe notification bell, and
I'll see you guys in the next update.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.