Strike Finance Soars & Reeve Launches – Cardano Ecosystem Update - Learn Cardano Podcast

Episode Transcript
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Speaker 1 (00:00):
Right, I've got a big Condona news update for you guys.
I haven't been online for about maybe two and a
half weeks, so there is a lot to go through
and I'm personally just catching up myself. I've had influenzer
a slowly recovering, but I'm almost there and tense. We're
back on these videos. But if this is your first
time here, make sure you hit that thumbs uplight subscribe

(00:20):
on your way in. I'm going to be covering strike finance,
some news from igon MPC wallets as well. This is
quite interesting reeves, something that came out from the Condona Foundation,
the ETF, a couple of other mentions from IOG and
also a lot of videos that I have to catch
up on to watch and maybe you guys haven't seen
them either. Let's get into it. So first up, just

(00:42):
look at the price of eight at the moment. Being
away for a couple of weeks, essentially I stepped away
from the computer around the thirtieth of June here and
having a look at the price action over the last
couple of weeks has been quite nice. So maybe I'll
just go from this down lowest point here on the
first of July, essentially when I took some time off.

(01:03):
To the current price today, that's been a nice forty
two percent increase roughly if I did the markers correctly,
but forty two percent increase in price to eight over
the last couple of weeks. So that is actually something
really nice to come back to. And looking into what's
actually been happening in the Kadana space, there has been

(01:23):
quite a lot. This is all fueled by movement on
other chains as well, such as bitcoin. But let's have
a look at what's been happening in the Cadna ecosystem.
So the first one here is of course probably my
favorite project at the moment, strike Finance, and that I
love this post. Last week, we're on pace to distribute
one point four to four million eight this year to

(01:45):
strike stakers. That's a massive amount of eighter. This is
old and outdated. We're now on pace to distribute two
point six eight million eight to stakers. This has been
an absolutely phenomenal journey for the Strike Finance team. And
if we have a look at some of the project
updates they mentioned here, they are now at one hundred

(02:05):
and twenty thousand eight distributed to strike stakers, So this
is people that own the strike token and just simply
stake it on their platform and we'll announce when this
distribution is ready. But this has been accumulated over the
fifteen days and we're now on pace to distribute that
two point eight eight million eight to stakers this year.
Absolutely insane growth. And if you have a look at

(02:26):
some other stuff here, these are some stats from the
staking platform itself. So total amounts of strike state fourteen million,
circlaiming supply state, almost eighty percent unique stakers eight hundred
and sixty five not that many unique stakers. Quite interesting.
Staking APR is five point six, so this is much

(02:47):
better than Ada staking on state pools at the moment.
And total distributed so far is that eighty six point
seven thousand eight. Absolutely amazing stats to see here. But
what about people that are actually using the platform to
go long and short on the perpetuals side of things?
And this here the bendi AIS is looking into strike
finance and covering the stats. But they state here the

(03:11):
top three traders unstriked are sitting on one hundred k plus.
This is in USD of profits in under two weeks,
and you can see here from the bending dashboard. This
is for the strike finance leaderboard down here. These are
the top three addresses at the moment, and you can
see the PNL profit and loss here one hundred and six,

(03:32):
one hundred and fifty three, one hundred thousand there that's
all in USC as well. So this is amazing work
from these people that have been messing around with a platform.
So this is the type of value that someone can
get from actually using the platform properly. It looks like
the entry price is really good when we had that
slump in atus price at zero fifty eight. So if

(03:54):
you want to know how to use the platform and
when to trade and do it long or short, follow
these wallets here. You can use this platform, find these
wallets and track their activity. This is the platform here
at bending Ai. You do need an NFT here. I
don't know how much these NFTs are, but it's a
paywall service. And let's have a quick look at bending

(04:16):
ai fuller price one hundred and sixty two eight not
too bad to be able to access this type of data. Interesting.
You might be able to get some of this data
at tap tools as well, so you may look on
there to see and try and track these particular wallets,
but this is doing it for you with their leaderboard,
so pretty cool stuff. And I did look into my

(04:39):
stats and analytics on my course here for strike Finance
as well, and this page here in particularly how to
strike how to stake strike tokens has had a massive
spike in traffic, so people are interested, are learning, and
are aware that staking your strike tokens, if you have any,
is well worked because you do get that distribution of

(05:02):
the staking rewards in AIDA, and if you're after more AIDA,
hey why not. It's a nice return there, especially at
that five point six percent. So really really interesting stuff.
But remember, guys, this isn't financial advice. Please do your
own research and dig deeper into what the project is
all about. Links down below for you guys as well.

(05:23):
But Strike Finance absolutely amazing stuff. The next project here
that I'm getting an update around is I Gone, And
they have their Cyclone OS. This isn't the cyclone the
hardware unit itself. This is the operating system that you
can use on the platform. So I'm not sure. I
think this is why one of the reasons why there's

(05:46):
been a little bit of delay of getting this operating
this piece of hardware, the Cyclone Pro and the I think,
what's the pro getting this out there for the users.
I've purchased one of these and I'm waiting for it.
But they're trying to get the Cyclone operating system up
and running so that you guys out there, anyone that's
using it, has this really nice seamless installation wiziwig set

(06:11):
up for the hard drives that you put in there
and the way that goes so you can see here
it's all being set up. It's looking for Wi Fi
network connections, and then it's pretty much followed the prompts
fill in the details and formatting the devices and away
you go. So having this really quick, easy setup I
think is a really important step in a user adoption

(06:34):
of their platform. There's one side where users are using
it as storage, but the providers of the platform, you
need to also make it as easy as possible so
actually people will provide the storage. Otherwise, these big enterprises
are after hundreds and thousands of petrobytes of storage won't

(06:54):
be able to access it if the users can't provide it.
So making this process really easy, I think is really key,
and it looks like they have done exactly that so
now yet the dashboard you can see all the stats
behind your service and everything, so very very nice coming soon.
There is no specific date of when we will see
this or the hardware yet, but hopefully we'll do see

(07:15):
it soon. I think tariffs are kicking in again and
that was one of the other issues as well, but
we'll see how this all goes. The other thing here
that the Egon team have put out is a really
good thread around the igone proof of concept around their
infrastructure for legal entities. So this was their proof of

(07:37):
concept that they were doing with the Forward Motor Company
and a lot of people said, hey, what's the big
deal about this is legal storage? You know whatever. I
really don't care, but this here does detail it in
a lot more detail and why it is really important.
I'll let you guys read through this. I'm not going
to sit here and bore you with the details, but

(07:58):
you can check this one out here and get a
better understanding of why it is important to have compliance
storage for all this legal data. Again links down below
for you guys. I thought this was a pretty interesting update.
This is around NPC wallets and MINSWAP team here wrote
Candona ecosystem is reaching new heights. NPC wallets are an

(08:19):
easy access point into crypto investment opportunities for large capital deployers.
By the amazing efforts of the Cadigan Foundation and Zen's
official institutional capital can now invest in men and other CNTs.
Now you might be asking what on earth is the NPC.
Let me explain that for you guys. So an MPC wallet,
an NPC wallet uses multi party computational technology, that's the

(08:44):
NPC part with the intention of enhancing security for your
cryptocurrency and other digital assets. It splits the wallet's private
key among multiple parties to increase privacy and reduce the
risk of hacking, breaches and losses. And I think I
think that's the biggest benefit of this. So when you
have a multiple parties holding the seed phrase, the private key,

(09:08):
it reduces that risk of being compromised. So I almost
every single day get phishing scams trying to get my
attention and possibly click on a link that would compromise
my security and data. Now this year, if someone was
to fall down that trap and reveal that private key

(09:30):
accidentally by putting it onto a fake wallet or whatever
it is, because that private key is split amongst multiple people,
only that portion has been compromised, and because they don't
have the complete key, they won't be able to access
those funds. So it's almost like a multi SIG, but
splitting that private key across multiple different parties, maybe a
third party custodian cold storage somewhere, and then to other

(09:54):
people that might have access. So this is highly beneficial
for institutional investors where security is absolute paramount. So the
Ansen's teams have gone ahead and gotten this integrated in
with this particular wallet called cipher BC. This is the
announcement post here. This was announced a little while back,

(10:15):
but let me go through some of the details here.
So Anzen is proud to have led the way of
securing zero the integration bring Candonia. They have tokens to
cipher BC Advance, NPC wallet ADA and USDA was already
on there, but now IAG has been added to the mix.
But there's also some others there. The MIN is also added.
Hence the min's op team. We're mentioning this now. Why

(10:35):
is this important? Real world adoption depends heavily on widespread
availability of CNTs integrations like this unlocking new users to markets,
creating a real world use cases build global awareness for
Cardona tokens. This strategic partnership was secured by Azen's and
CF completely free of charge, leveraging our partnerships and collaborative approach.

(10:56):
Awesome stuff. Therefrom the Azen and CF team looking forward
to seeing this one in play. And it probably isn't
a service that I would use personally or someone the
everyday user would use, but CIFABC for these institutional guys,
definitely the way to go. If you want to find
out more about SIFABC and perhaps even try and use

(11:17):
it yourself, you can. You can get to it at
cipherbc dot com. This next big news story is from
the Kadana Foundation and so about their launch of Reeve.
I think that's how you pronounce it, so open source
solution for on chain financial reporting on Kadana, Verifiable autiible
financial transparency, simplified cost efficient reporting, tamper proof data sharing.

(11:40):
They've got a whole bunch of links here to go
through as well. But I do like this video that
they put out, and let me just play this one
for you guys, so you can get a bit of
an idea of what it's all about.

Speaker 2 (11:51):
For modern businesses, Transparency is essential, accountability is demanded, and
trust is paramount. Introducing Reeve Next Generation Accountability, a platform
that delivers trusted financial insights for any organization with customizable
transparency unique to your needs. You can share what matters

(12:12):
and protect what's private, all on your terms. Reef's intuitive
dashboards help streamline exploration and reporting, providing views tailored to
you and with immutable records on the Cardano blockchain, your
information is always secure, ensuring verifiable, auditible and permanently accessible transactions.

(12:33):
Simplify your audit process and demonstrate responsible management. Unlock strategic
opportunities through data driven insights, tailored information access, and standardize modeling.
Experience the future of financial reporting. Explore Reeve today and
build a more accountable tomorrow now.

Speaker 1 (12:52):
If you want to learn more about it, you can
get to apps the Kadana Foundation dot org, splash reef.
This is a really nice landing page that has all
the information about what it can do, and you can
learn more about it from there. They also have a
lot of documentation on how it's all set up and architecture, authentication,
how to actually run it. And work through the platform now. Also,

(13:15):
the code here is all on GitHub as well, so
if you're technically minded and maybe you think about implementing
this type of solution for a client, you can check
out the GitHub repo documentation and work out how you
can do so. There was also a live developer Our
Office hours session with the Condina community here where they

(13:37):
did look into Reeve and had some of the experts
there Thomas and Marco explaining about how it all works. Now,
this was on the weekend and at ungodly hour, so
I wouldn't have been able to get into this one here,
but if you were interested, maybe this will be put
online later and I will try and find the details

(13:57):
and put it up for you guys. But if I
do get my hands on it, I'll put it in
the show notes. Otherwise, you may need to follow the
x post here to try and find the updates, and
the recording usually comes up after a week, but hopefully
we do get it now. The really cool thing here
is that the foundation here published three days ago the

(14:18):
financial reports for the Kadana Foundation of twenty twenty four
using Reeve itself. So hey, why not use the tech
that you're talking about them built to actually do your
own financial reporting. It just makes sense. You can see
here all the key highlights from the financial report itself,
between nine million allocated cross adoption, education and operational resilience,

(14:42):
six one hundred and fifty nine million in total assets
as of twenty first thirty one of December tween twenty
four seventeen point one eight earned three stake awards. All
transactions now verifiable on chain using Reeve. How cool is that?
So that's definitely a good use of the tech itself

(15:03):
to put into the financial reporting. And you can find
the report here as well. I'll put links to it
down below. If you didn't catch the links or see
this particular update, you can see how the foundation is
going and get all the data to actually verify this
all on chain. How cool is that? Now? This big
news story, probably the biggest over the last couple of weeks,

(15:25):
and this was the SEC approving conversion of Grayscale's large
cap crypto fund into an ETF. This was extremely exciting
and got everyone buzzing. If you look at the price
movement here, this is the first this is my time,
so roughly the second year the price this is probably
just a general bounce. But then here you can see

(15:46):
this little spike here was in response to that particular news.
So we had two days of price movement in the
upper direction. But look at what, Look look what the
SEC did a couple of days after. But seriously, a
couple of days after, the SEC flipped on that particular
announcement and said we're going to delay the ETF and

(16:10):
not let it go forward for an an unknown amount
of time. They just don't know. So what did Gradscale do.
So they're challenging the SEC's delay of the g d
l C ETF launch and calls stay order unlawful. Okay,
so this is pretty interesting. So this came out a
couple of days ago. So this is the summary here.

(16:30):
Gray Scale has filed a letter with the SEC arguing
that has no authority to delay the g d l
C ETF launch. SEC approved the conversion of GDLC but
issued a stay order with no public explanation. Experts say
the delay is a likely procedural and temporary, not a
signal of political opposition, and we'll see hopefully it is

(16:52):
just a procedural thing, and we they just don't want
to rush into these particular announcements. But having one ETF
go forward means that a lot of the others will
go forward following it. Now, this is a spot ETF,
so it actually trades against the currencies online as opposed
to derivatives or futures, so this is actually trading the

(17:14):
assets itself. So this is really important that this one
gets through. Here are some smaller news updates, but still
very important. This first one here is around fund fourteen,
a project catalyst, so they're going ahead. They haven't got
the final go ahead from DERAPS yet for that particular
funding and releasing those funds, but it's kind of a
formality at the moment, and we will see this all

(17:37):
go through. So if you're a small project that is
reliant on Project Catalyst, it's time to get your running
hats on and start putting in your proposals for this
particular funding round. You can now register for the town
hall and hopefully we do see this come up online
very soon. I know a lot of projects rely on
this particular funding and to have the whole budget process

(18:01):
takes so long it's kind of pushed out these project
catalyst funds further apart. Usually we have two maybe three
a year, but at the moment, it just seems to
be having only one a year. We're even lucky to
get fun fourteen this year, to be honest, but really
good to see them pushing forward and hopefully we do
see something out by the end of this year. This

(18:24):
is a nice little update about Hydra and to learn
more about what's happening with Hydra as well. I won't
mention too much more about this, but I'll do a
bigger update about Hydra in general then. Also output put
out this post about nested transactions with Babel fees, allowing
users to seamlessly transact non et to tokens without requiring

(18:44):
a to fees. Not ad A holders face barriers interacting
with Cadano. They cannot easily pay transaction fees, supply min
UTXO values, or provide script collateral, limiting accessibility. And totally agree.
If you somehow got an edge drop into our wallets
with let's say night tokens, how do you sell that

(19:06):
night token without having any EIGHTA in your wallet? Now,
if you have Babel fees, you'll be able to sell
those night tokens on a deck without the need of
having EIGHTA in your wallet. I know a lot of
people say hey, Pete, we know how we have to
create brand new wallets for these night tokens that we're
going to get. But then you're saying, don't put any

(19:28):
EIGHTA in there. How we're supposed to sell it if
we can't pay for those the transaction fees with for
the deckses or whatever Babel fees. This is why import
Apple is talking about it now and mentioning it because
there will be this interaction with the either bable Feed
Night contract or baby feed platform like Aquarium to actually

(19:50):
be able to sell this night token. So we're going
to see this come in play very very soon. The
other thing here is the Acropolis project Acropolis, so this
is is about reimagining Cardona's node architecture to for better
developer accessibility. And this is the whole push to put
all these different node versions of Kadano out there in typescript,

(20:13):
RUST and GO or standard HTTP requests. So this really
coincides with all the work that Pragma is doing with
Amaru because it really pushes for the no diversity. And
I have to also mention Amaru also got through to
the final stage of being able to withdraw from the

(20:33):
Cardinal Treasury as well, so it's the very first project
to be able to get to the funds from the
Cardano Treasury, so that's quite a milestone. So this here
pushing no diversity and bringing the cand node architecture for
better developer accessibility, I think is absolutely brilliant. So I
thought i'd just mentioned that one there as well. Now,
over the last couple of weeks there have been some

(20:54):
really good videos to watch as well. Now. This first
one here is a round table talk at the condo
hack upon and if you have a chance, watch this one.
It goes on for about an hour. I haven't watched
it all yet, but it's really interesting conversation about the
economic sustainability of Kadano. The other one to look out
for here is this really extremely long interview with Sean

(21:18):
Ryan Charles went on to this particular episode to have
a talk about all these different things. The playlist time
stamps here are quite diverse, but talks about everything from
quantum computing, blockchain interoperability, of course about Kardano Midnight. I
haven't watched the whole thing yet, I've watched about three

(21:40):
minutes snippets here and there. If anyone has a shortened
version of highlights that isn't five hours long, I'd really
appreciate it. Put a link in the comment down below
if you do have that, But five hours is a
long time to go through all this stuff. The last
thing I'll mentioned here is the launch of Meldgate. This

(22:00):
is the wrap up and legal proceedings against meld for
their collapse. Well it's the winding up of the company
and it's been taken to the Singapore High Court. So
if you want to find out more about this, they've
got a website. It's called meldgate dot com. You can
find out what's been happening. This is the biggest collapse

(22:22):
of a project within the Cadana ecosystem. So we'll give
you a brief rundown of the history why this site
was created and the background for this particular liquidation and
what happens next. So you can find out a little
bit more on this particular website. But you can see
the winding up application. So this was issued on the

(22:43):
sixth of June and then the hearing of it and
the High Court of Singapore on the fourth of July,
So it just happened very recently here, but you can
see what's been happening, the legal entities that are against
Sogo Labs and what has been happening there. But I'll
dig into this one a little bit more at a

(23:04):
later dates, But if you want to get up to
date with what's been happening, Josh here from Late Gang
Crypto has done a breakdown of this as well, and
he used to be one of the Meld ambassadors, so
I think this is very important for him to get
closure on this particular era of his crypto journey because
Meld was such a big part of everyone's crypto holdings

(23:26):
once upon a time, but it's worth absolutely nothing now.
So these legal proceedings. Keep an eye on them. It's
going to be very interesting and hopefully we see some
accountability for what's happened in the space so that it
doesn't happen again. That's the last thing we want to see.
Links to all those videos down below in the show notes,
so if you want to watch them, please do let
me know if I've missed anything as well, So if

(23:48):
you've seen something that's been really interesting, leave a comment
down below for me, guys. Because I've been out of
the loop, I don't know what's been happening over the
last couple of weeks, and that's all I got for
this particular video updates, So if you enjoyed it, hit
that thumbs up like scribe and notification bell, and big
shout out to all my channel members out there as well.
You guys keep on supporting me along the way here,

(24:09):
So if you want to be a channel member as
well and support the content, that are great links down
below in the show notes. But anyway, that's all I
got for you, guys, so thank you so much for
tuning in, and I'll see you guys in the next
video

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Strike Finance Soars & Reeve Launches – Cardano Ecosystem Update

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