What Bear Market? Cardano Marches On
Cardano has been in a bear market since September 2021, yet the fundamentals have never been better.
Dear Trustless Community,
Its been two weeks since the centralized Ponzi project Terra Luna crashed the entire crypto market and brought Cardano down by another 30% with it.
Nonetheless, the past two weeks have proven the resiliency of Cardano and its community. Instead of giving up after a nine-month, 85% correction from $ADA’s all-time-high, the Cardano community has dug its heels in and continues to grow.
Simply put, the fundamentals have never been better, and things are speeding up.
F*ck the bear market, keep building!
The Top 7: Get Caught Up
1. Arthur Prestidge flies a Cardano flag at the top of Mt. Everest
What happened? After well over a month, Cardano community member Arthur Prestidge made it to the top of Mt. Everest on May 16th with his custom-made Cardano flag. Read more
Why does it matter? Not only is this fantastic free PR for Cardano, but it’s a testament to the commitment, passion, and resiliency of the Cardano community. It’s proof that we’re not going anywhere.
2. More than $100 million worth of ADA has been delegated to Genius X
What happened? Cardano-based accelerator program Genius X continues to attract ADA delegators after the launch of its ISPO. Read more
Why does it matter? This shows the sustained level of support even in a bear market towards accelerating growth, supporting ambitious projects planning to leverage Cardano’s unique smart contracting architecture and, indeed, further promote adoption.
3. Project Catalyst has now funded 1,000 projects
What happened? After the Fund8 distribution of $16M to 367 projects, Cardano’s DAO treasury management called Catalyst has funded 1,000 different teams. Read more
Why does it matter? While most blockchains have become dependent on Venture Capital to fund their growth, Cardano continues to prove the power of decentralization. As the Cardano network grows, it generates fees that fund a never-ending flywheel of new projects.
4. Liqwid Aquafarmer NFT collection minting went live
What happened? Whitelisted addresses can head to their site to secure your first NFT now! Read more
Why does it matter? Liqwid DAO’s implementation of the v2 Agora governance module will include functionality to stake Aquafarmers NFTs in the safety pool alongside LQ for increased yields. Depending on the Aquafarmer NFT rarity, holders would access increased staking rewards between 2% to 5%.
5. Cardano Defi project MELD releases the Akamon Alpha Testnet
What happened? The MELD Developers have laid the foundation for the Akamon multi-chain gateway, and they want you to test it out! Read more
Why does it matter? Akamon is a native bridge between Cardano and Polygon for transferring assets between the two networks and automating smart contract integration from both ends. This brings more liquidity, token choices, and DeFi integration from Polygon to Cardano and exposes MELD products and services to Polygon.
6. Milkomeda (Cardano L2) founder Sebastien hints at a dApp store
What happened? Sebastien Guillemont comments on Twitter, “I think we’re going to need a Milkomeda ecosystem chart. Too many projects for me to keep track of at this point. Excited to for work on our Milkomeda dApp store (partially funded by Catalyst) to increase visibility of projects launching on Milkomeda, though!” Read more
Why does it matter? Cardano’s first layer two is growing incredibly fast and now has a potential Milkomeda dapps store in the works. This bodes well for the growth of the overall Cardano ecosystem and increases the value of the mainchain/$ADA.
7. ADAO partners with Genius Yield and Genius X for DAO adoption
What happened? Genius Yield and Genius X are happy to announce their partnership with ADAO, a Cardano-based provider of open source tools to spur decentralized autonomous organization (DAO) adoption, empower the crypto community, and promote decentralization. Read more
Why does it matter? ADAO Summon will provide a DAO-as-a-Service toolset enabling decentralized governance through the Genius Yield platform while supporting its liquidity pools through the Genius DEX and the Smart Liquidity Vaults. DAO governance will open up massive new potential within the Cardano ecosystem.
10 more things you might have missed
TxPipe releases a sneak peek of “Cardano Workspaces” Read
Cardashift launchpad went live Read
GeroWallet releases their $GERO ETH to Cardano converter. Read
Fluid Tokens went live on the testnet Read
Cardahub announced a partnership with $HOSKY Read
$YUMMI token is now available on two DEXs Read
$HOSKY is listed on Coingecko Read
AnetaBTC releases a sneak peek of their staking UI Read
Pavia airdrops 6,000 “Pavs” NFT to landowners Read
DripDropz sees 1,560 unique wallets vote with native tokens Read
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