Kick.io Is Releasing a Crypto IDO Launchpad for Cardano Projects

Kick.io, a Cardano-based fundraising platform and project accelerator, announced a long-awaited release for October 1st, 2021, and invited the community to hop on and become early investors in a unicorn-level project.

The Kick.io platform is exceptional and ahead of its competition because it supports projects launched on the Cardano blockchain and offers full support for Cardano native tokens.

The platform’s founders are striving to become the place where Cardano’s extensive community can come together to fund high-growth projects characterized by the immense potential for future success.

Be an Early Crypto Investor

Users will have the opportunity to browse via projects, carefully hand-picked and uplisted on the Kick.io platform. The earlier the investors contribute to the most promising crypto and blockchain projects, the more enormous the potential for profit and rewards are.

As other platforms tend to list projects and their native tokens after the initial rounds have been completed, Kick.io will ensure that crypto investors will have access to the best projects with the best timing, allowing for higher potential returns.

For users, Kick.io provides staking functionality and up to a 5% additional return on endorsed projects. For staking and endorsing, users get rewards. To participate in the Kick.io ecosystem, tokens will need to be deposited onto the platform and can then be designated as desired. Tokens that are not being used for staking or endorsing can be withdrawn to a wallet of choice at any time.

Stakers who have staked at least 20,000 KICK tokens in either of the locked staking pools will receive priority access to the project launches. An allocation of 25% of the sale will be open 24 hours before the general public.

Users are invited to analyze the verified project listings, meet project founders, and endorse the most credible ones. The credibility of projects is vetted by well-informed investors and the platform’s due diligence team before the propositions are released to the users.

Importance of Decentralization

As is crucial for the crypto-verse, the company’s philosophy is rooted in decentralization. Kick.io was founded by a team of DeFi and traditional finance professionals.

By being in line with crypto world values, the team works to provide full decentralization, ensuring that the funds raised on the Kick.io platform are directly sent to the project founders and that the tokens generated are distributed to holders without burdensome checks or unnecessary delay. Also providing a suite of advanced DeFi tools ensures that upcoming projects will thrive.

Kick.io takes financial sustainability and inclusion seriously, working diligently to ensure that their efforts benefit all stakeholders, helping to evolve the reputation and maturity of the DeFi industry.

This next-generation decentralized launchpad will be built according to the best DeFi industry practices, ensuring real-time settlement, top-notch security, interoperability, true decentralization, zero counterparty risk, and full scalability to meet the needs of institutional investors. This will be a massive contribution to the development of the DeFi and crypto industries.

Source: Investing.com

Cardano Partners With Chainlink for Oracle Services

SUMMARY

  • Cardano will integrate an oracle solution from Chainlink for real-time market data.
  • The new partnership is to support developers building smart contracts for Cardano DeFi applications.

Cardano has announced a partnership with oracle solutions provider Chainlink to accelerate the development of its DeFi ecosystem. The news was released at the Cardano Summit, a two-day conference held last weekend.

News from Cardano Summit

Cardano Summit, which was announced as “the biggest online blockchain event ever”, took place on 25-26 September 2021. The two-day conference was filled with presentations, reports, visions of the future and panel discussions.

Among the many events, there were speeches on new partnerships that are expected to be key to the further development of the Cardano (ADA) ecosystem. One of these was a partnership with telecommunications provider Dish Network.

However, the biggest surprise was the announcement regarding the integration with Chainlink, a leader in the oracles sector. The technology is used to provide high quality data to support smart contracts. In short, Chainlink allows information from the off-chain world to be combined with the protocols of the on-chain space.

An use case example of data from oracles, mentioned in the IOHK statement, is reliable weather data. It stressed that providing them is crucial for “FinTech startups that are trying to enable parametric insurance in sub-Saharan Africa”. Other examples included election results, sports statistics or cryptocurrency rates, which will allow DeFi apps to operate without the need for third-party verification.

Hoskinson: Chainlink was an easy choice

Cardano has been increasingly bold in entering the DeFi space and positioning itself as a major competitor to Ethereum. Chainlink, on the other hand, is securing billions of dollars in the DeFi, insurance or gaming industry as of today. Their technology offers global enterprises and leading data providers a universal gateway to all blockchains.

This is why IOHK founder Charles Hoskinson said about the new partnership:

“IOHK is committed to providing developers with the most secure and robust tooling for building useful solutions on Cardano, making it an easy choice to integrate Chainlink’s market-leading oracle solution.”

He went on to add that data integration will “reduce the go-to-market time for Cardano developers, but it will establish a secure foundation for Cardano’s DeFi ecosystem”. According to him, this will help increase user trust in the entire ecosystem.

Cardano and Chainlink partnership / Source: iohk.io
In response to this enthusiasm, Sergey Nazarov, co-founder of Chainlink, said:

“We’re excited to leverage our extensive experience and expertise by establishing native support for Chainlink on the Cardano blockchain and supporting its next stage of growth into markets like DeFi and beyond.”

In addition, Nazarov stressed that the use of Chainlink oracle will allow “to quickly gain access to high-quality, real-time price data on a wide range of assets while still maintaining robust security and uptime.” Finally, he added that “this will empower developers on Cardano to build next-generation applications quicker and more securely.”

Cardano DeFi and NFT Based Projects Received A Huge Boost – $100M!

Following the recent major announcements from Cardano, the project’s commercial arm has launched a $100 million investment fund.

Emurgo to Support Cardano Ecosystem

Emurgo, the commercial arm of Cardano, will invest $100 million to finance crypto startups on the blockchain.

The firm announced the update at Cardano Summit 2021. Under the initiative, Emurgo will allocate capital towards growing Cardano’s ecosystem. The firm will focus on supporting startups working in DeFi and NFTs, and launch Cardano-centric education programs.

Discussing the investment, Emurgo founder and CEO Ken Kodama said that the firm was aiming to “accelerate the development of the Cardano ecosystem.”

Emurgo has already invested in several Cardano projects, including the EVM-compatible sidechain Milkomeda.

Since launching the Alonzo era, the project has made strides to focus on its ecosystem development. The Alonzo hardfork enabled smart contract functionality on the network, which paves the way for project to launch their dApps on mainnet.

It is thought that DeFi projects will go live on the network once teams have developed scaling solutions to adapt to Cardano’s eUTXO model. Cardano is one of the most well-funded blockchains, and its followers are hoping that the ecosystem will develop over the coming months.

Emurgo’s $100 million could play a critical role in that process. Since its inception, Emurgo has been a core contributor to Cardano by engaging with developers, startups, enterprises, and governments. The firm has confirmed it will move to “dedicated operations” of funding the blockchain’s ecosystem starting next year.

Emurgo’s funding project will run in addition to Input Output’s cFund, another capital venture fund for strategic investments in the network. There’s also Project Catalyst, a community-governed decentralized fund with over $1 billion stored in an on-chain treasury.

Everyone Wants DeFi!

DeFi or decentralized finance is an innovative technology that has given the financial sector an upgrade. Through DeFi, the sector now uses smart contracts and advanced codes that enables peer-to-peer financial services to users.

Presently, most of the DeFi activities happen in the Ethereum blockchain — followed by Solana, Avalanche, and others. Now, Cardano is finally solidifying its DeFi adoption. In fact, Cardano recently launched its Alonzo mainnet, which allows smart contract functionality.

To conclude, this venture from both EMURGO and Cardano gained praise, especially from the Twitter community where Kodama tweeted about it. The public is excited to see what’s going to happen next. What’s more, some even say they can’t wait to see what the future holds.

Source: Various

Cardano Receives First Fiat On-Ramp with Stablecoins

COTI, an enterprise-grade fintech platform that empowers organizations to build their payment solutions, recently announced that it will be partnering with Cardano’s stablecoin hub, Ardana.

The collaboration will introduce stablecoin crypto-to-fiat payments aimed at the Cardano community, in addition to consumers and merchants worldwide.

Speaking in a statement, COTI’s CEO, Shahaf Bar-Geffen, said,

“Today, COTI is doing its first steps in Defi over Cardano, which we believe will be huge. We are happy to collaborate with the remarkable team of Ardana to bring new Cardano Native Assets to ADA Pay and scale up our operations.”

Cardano (ADA) expands its bet on DeFi and NFT

Ryan Matovu, founder of Ardana, stated that Cardano (ADA) and its DeFi segment look very promising in terms of e-commerce adoption worldwide:

Both COTI & Cardano have a value proposition that is immediately applicable to each of our day-to-day lives, no matter where we may be. When it comes to e-commerce, it is within our vision to have our stablecoin being able to participate in all walks of life- from yield farming on-chain, to financing actual farming off-chain.

Ardana is going to bring decentralized stablecoin payments to ADAPay, a native payment system for the Cardano (ADA) community. Ardana customers will be able to purchase goods with their stablecoins wherever ADAPay is accepted.

Also, Cardano-based stablecoin payments will be accessible for millions of merchants worldwide, protecting them from being exposed to the volatility of cryptocurrency assets.

COTI Price Jumps 50%

Just a few hours after COTI made the announcement, it received a lot of attention from crypto users, and its coin’s price spiked by roughly 50%, hitting an all-time high (ATH) of $0.60.

Although COTI has retraced and is now trading at $0.51 following another wide-market crash induced by fresh China FUD, it has still retained a 24-hour increase of 25%, according to live data from CoinMarketCap.

Cardano Announces dAppStore for Certified DeFi Applications

Cardano is launching a storefront for decentralized applications called Plutus dAppStore.

Key Takeaways

  • Cardano is launching a storefront for certified, decentralized applications called the Plutus dAppStore.
  • The goal of the dAppStore is to make dApps running on Cardano easier for discovery.
  • IOHK is also launching a formal certification program for third-party dApps on Cardano.

Input Output (IOHK), the development company behind Cardano, has announced the upcoming store for decentralized applications on the network, called Plutus dAppStore. In this storefront, developers will be able to upload their Cardano dApps, making it easier for the community to discover them.

Cardano Introduces The Plutus dAppStore 

Cardano has revealed that it’s building a storefront for certified decentralized applications.

IOHK published a preview of its new “integrated approach” to the development of the Cardano ecosystem ahead of Cardano Summit 2021. The centerpiece of the announcement is the upcoming launch of the Plutus dAppStore, a storefront where developers can upload their decentralized applications running on Cardano and make them easier for discovery.

According to Shruti Appiah, head of product and smart contracts at Cardano, the dAppStore addresses two barriers to entry. The first is that there is currently no formal discovery process for dApps running on the network, and the second is that there is no consolidated view of all dApps available in a given ecosystem for end-users.

The Plutus dAppStore will allow Cardano users to explore the entire ecosystem of dApps running on the protocol through a single “storefront” or web page. 

In addition to the dAppStore, IOHK is also launching a formal certification program for third-party decentralized applications on Cardano. The program’s goal is to give users assurance about the integrity of the dApps they use through automated logic checks, manual smart contract auditing, and formal verification.

According to Appiah, the dAppStore will provide a “democratized environment for developers to publish their dApps without facing censorship,” meaning both certified and uncertified applications will be listed on the storefront, as the site intends not to act as a gatekeeper but rather provide “a platform for transparent user assessment.”

Cardano’s long-awaited Alonzo hardfork, which brought smart contract functionality to the blockchain, went live earlier this month, but not without its problems. While the actual upgrade went smoothly, many in the community were disappointed to see a very small number of applications launching on the network.

Minswap, the first decentralized exchange to launch on the testnet, faced immediate scaling issues and was forced to shut down soon after the launch. In an interview following the incident, Minswap founder and engineering lead Long Nguyen told Crypto Briefing that the problem arose from the so-called concurrency “issue,” which refers to the ability for multiple different agents to interact with the same smart contract at the same time. 

While account-based blockchains like Ethereum allow multiple users to interact with the same smart contracts by default, state-based or EUTXO-based networks like Cardano pose certain difficulties for developers in that regard. In a post-mortem blog post following the incident, the Minswap team wrote:

“It’s an issue that every competent team and development lab building DeFi protocols on Cardano must overcome. It’s not a fundamental flaw, but is simply a design challenge that must be addressed.”

The prevailing lack of fully-fledged DeFi applications on Cardano may be explained by the fact that, thus far, nobody seems to have found a practical solution to the concurrency issue. SundaeSwap—another decentralized exchange building on Cardano—published an article following Alonzo’s launch on testnet, downplaying the issue and offering several theoretical solutions to concurrency. however, thus far, they have not yet been able to launch a functioning DEX on the network.

While individual projects are currently working towards solutions, Minswap says that “thus far efforts have been siloed with little exchange of information amongst teams.”

IOHK will showcase a preview of the Plutus dAppStore prototype at the Cardano Summit 2021, taking place on the 25th and 26th of this month. Cardano’s head of brand and communications, Sidney Vollmer, hinted that some of the partnerships announced during the summit will “blow people’s minds.”

While the official launch date of the Plutus dAppStore is yet to be announced, it remains to be seen whether, and how soon, fully-fledged DeFi applications will populate the storefront.

Source: CryptoBriefing

SundaeSwap Scoops $1.3M Funding!

Decentralized finance (DeFi) platform developer SundaeSwap Labs announced today that it has raised $1.3 million in a seed round led by cFund, an early-stage sector-agnostic venture capital firm in the blockchain industry that is anchored by Cardano founding entity IOG and managed by Wave Financial. SundaeSwap Labs is a software company contributing to the development of a suite of products that enables the trading and utilization of cryptocurrency on the Cardano blockchain — currently the world’s third-largest cryptocurrency by market capitalization.

At the heart of SundaeSwap Labs’ suite of products is its decentralized exchange (DEX), which will initially provide an automated market maker (AMM) to control liquidity for the exchange of assets on Cardano. The funding will allow SundaeSwap to accelerate development of the DEX, continue testing on the platform, and refine the user experience in advance of its anticipated launch.

The capital will also allow SundaeSwap to accelerate the development of additional functionalities for the DEX, finish scoping out the company’s broader plans for DeFi on Cardano, and build out the organization’s capabilities to support these plans and features.

“The recent introduction of smart contracts to the Cardano blockchain has created a significant opportunity for the DeFi community on Cardano,” said Mateen Motavaf, Chief Executive Officer of SundaeSwap Labs. “cFund’s investment is an endorsement of the work our team has done to build a sustainable, long-term business designed to provide the Cardano community with the tools and services it needs to create value and fully realize its vision of enabling economic empowerment for those who need it most.”

“Our mandate is to bring world-changing ideas and solutions on the Cardano blockchain to market faster,” said David Roebuck, of Wave Financial who runs the day-to-day of cFund. “We do this by finding ambitious founders who have solid business ideas and the skills to turn those ideas into reality. The SundaeSwap team is developing a platform that is well-positioned to become a market leader, and we’re pleased to be able to help them reach their goals through this investment.”

cFund was joined by Alameda Research and Double Peak Group in this venture round.

“We made a commitment to our community early-on that if we took any private capital, it would be from partners who can provide significant value above and beyond the book value of the deal,” added Motavaf. “The team of investors that cFund is leading not only meets that promise, but exceeds it, and together they will bring an incredible amount of value not only to us, but to the entire Cardano ecosystem.”

About SundaeSwap

SundaeSwap Labs develops decentralized finance (DeFi) platforms that enable economic empowerment for all. At the heart of its development efforts is the SundaeSwap DEX, a decentralized exchange where Cardano-based peer-to-peer transactions can be conducted quickly, safely and inexpensively. The SundaeSwap DEX allows participants in the Cardano blockchain to provide liquidity and create a market for others to exchange their native tokens. In return, swappers pay a small fee and liquidity providers earn a return on their deposit. Cardano is a third-generation blockchain noted for its transactional efficiency, relatively low environmental footprint and peer-reviewed secure technology. SundaeSwap Labs is a Wyoming corporation.

SundaeSwap’s website: https://sundaeswap.finance/

About cFund

Anchored by IOG/Charles Hoskinson and managed by Wave Financial, an SEC- registered investment advisor with ~$1 billion of AUM, cFund is an early-stage, sector agnostic early-stage venture fund that invests in innovative technology companies building Cardano-based apps, services, and products or deploying on other IOG R&D initiatives. The purpose of the fund is to accelerate adoption/development of the Cardano blockchain and its ecosystem.

cFund’s website: https://cfund.vc/

Wave Financial’s website: https://wavegp.com/

Source: Medium