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- Cardano's Chang Hard Fork, Lenfi V2, Plutus V3 and more!!
Cardano's Chang Hard Fork, Lenfi V2, Plutus V3 and more!!
Hey Cardanians! Welcome aboard the Weekly Cardano Digest #9!!
This edition is packed with valuable insights into Cardano's latest developments. We've filtered through all the noise to distill crucial updates into a breezy, 5-minute read. No need for you to sift through endless info — we've got you covered. Ready to delve into this week's top Cardano news? Let’s dive in.
Here are the topics of the week:
Lenfi V2
Plutus V3
Catalyst Results
Chang HardFork
Q4 - STATE OF CARDANO
This week on Cardano...
What is Lenfi?
Lenfi, a decentralized lending protocol on the Cardano blockchain, has announced a significant milestone with the official launch of Lenfi V2 on February 22nd. This version represents an innovative step forward in the decentralized finance (DeFi) landscape on Cardano, introducing a suite of features aimed at enhancing lending and borrowing mechanisms through a user-centric approach.
Key Features of Lenfi V2
Permissionless Pool Creation and Ownership: Lenfi V2 allows any user to create and manage their own lending pool. Pool Managers can also delegate unused ADA collateral to stake pools, enhancing rewards for liquidity providers.
Tokenized Debt Bonds: Borrowers in Lenfi V2 receive NFT bonds that represent their loan obligations. These bonds are transferable and tradable, introducing a novel form of liquidity and flexibility in managing debt.
Native Multi-Asset Support: The platform supports lending and borrowing of ADA along with other Cardano native tokens and stablecoins, leveraging the blockchain's multi-asset capability.
Open Liquidations: Lenfi V2 employs a community-centric approach to managing undercollateralized loans by allowing any user to participate in liquidations, offering a low-risk yield opportunity.
Decentralized Governance: The protocol is governed by the Lenfi DAO, which oversees the treasury and protocol parameters, such as asset whitelisting and fee adjustments.
Conclusion
Lenfi V2's launch on February 22nd marks a pivotal moment for DeFi on Cardano, introducing a platform that not only expands the utility and accessibility of decentralized lending and borrowing but also reinforces Cardano's position as a leading blockchain for innovative and secure DeFi applications.
Here is one for the Devs, Plutus V3 Coming to Cardano.
What is Plutus V3?
Plutus V3 is an upgrade that focuses on improving the cryptographic capabilities of Plutus Core, aligning Cardano with the latest industry standards.
Impact on Developers and the Cardano Ecosystem
Plutus V3 is designed to lower costs, improve operational efficiency, and attract new developers to the Cardano ecosystem by providing:
Enhanced performance and throughput for smart contracts.
Reduced smart contract size for better efficiency.
Expanded platform capabilities with new cryptographic and bitwise primitives.
Improved developer tooling and resources through collaboration with the community and partners like MLabs.
Conclusion
Plutus V3 represents a significant step forward in the development of Cardano smart contracts, offering greater efficiency, flexibility, and ease of use. By prioritizing performance, throughput, and the adoption of the latest cryptographic standards, this upgrade aims to facilitate the migration of smart contracts from Ethereum, support the creation of sidechain bridges, and contribute to the broader growth of the Cardano ecosystem.
300 New ideas got funding! Catalyst results are in!
Cardano’s Innovation Fund, Project Catalyst results are here!! And we got +300 new ideas that received funding to make Cardano even better. Can't wait to see the results and outcomes out of this round! Congrats to the winners, but if you didn't win, don't give up. I’ve been in Catalyst for years now; it's all about improving fund after fund. Analyze your results, your ranking, and really think about what can be improved. Consider your marketing, title, and your angle
Cardano’s next Upgrade, the Chang Hard Fork.
Cardano has entered the Voltaire era, focusing on full decentralization through community governance. This era allows all ADA holders to participate in the network's future development decisions.
Chang Hard Fork: The Chang hard fork is the first significant update in the Voltaire era. It introduces a radical change in the blockchain protocol that necessitates all nodes and validators to upgrade to a new software version.
Cardano’s main stages for On-Chain Governance on Cardano
Introduction of Delegate Representatives (DReps): DReps will act as community governance representatives, with ADA holders delegating their ADA to them rather than voting directly. Registration for DReps is expected to begin in Q2 2024.
Constitutional Global Workshops: A Series of events that will be held throughout 2024 for broader community involvement in the Constitution. Make sure to participate or even better, host one.
Cardano Constitution Convention: A key event where governance representatives will vote on the first version of the Cardano Constitution, laying the foundation for community-led governance. By the end of 2024, the Cardano community will vote on whether to ratify the Cardano Constitution, which will establish the decentralized governance processes for the blockchain.
This hard fork represents a significant milestone for Cardano, emphasizing community governance and the network's evolution towards decentralization.
For more detailed information, you can directly visit this great article about it
Q4- STATE OF CARDANO: BY MESSARI
Messari recently dropped their Q4 2023 report, here are some of the highlights:
Cardano’s TVL increased 166% QoQ (Quarter on Quarter) and 693% YoY (Year-over-Year). Cardano’s TVL ranking increased from 34th at the beginning of 2023 to 11th.
Cardano’s stablecoin value increased 37% QoQ and 673% YoY. iUSD remained the market cap leader, but alternative solutions such as USDM are approaching mainnet.
ADA’s price increased 127.2% QoQ, outpacing the overall crypto market’s increase of 53.8%.
The specifications for Midnight were released, such as the use of Substrate. Midnight is a data-protection-focused partner chain/sidechain.
Core infrastructure — such as SanchoNet, Hydra, and Mithril — continued development and testing.
Dive deeper into the full Q4 2023 report by Messari.
Weekly Development Report by IOG
Interesting Stories:
🎊 A Message from Lucas 🎊
Hey! We have quite an few exciting months for Cardano ahead, specially with Voltaire and Governance, which I am an active supporter. 2024 will be the year where the community takes control of the protocol, if done correctly, this could be an historic milestone in history. I will be writing more about it in the following months!
Also, some of my Catalyst proposals got funded on Thursday. I would like to thank you from the bottom of my heart. Besides funding and all, seeing actual people taking time out of their lives to support me means the world to me. Thinking about how next fund, we could work better in including your proposals here for everyone to see. Let me know if you have some ideas.
Well that is all from me now, see you soon! If you would like to share this with a friend, we have our custom refferal links for you, we will soon be adding some surprisers for our top refferers…. Here you have is referral link:
Little Surprise, here is a SmartPlaces NFT, 1s come 1st Serve, be quick!!!!!
Voucher code: SPXQR-6TA32-8TGQW-YQ3G5-BSC26
Claim it on their website
-Lucas Macchiavelli
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