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Butane Protocol raised 49MM ADA, Levvy Token, ADA Markets & More!

Hey Cardanians!

Welcome aboard the Weekly Cardano Digest #10!!


Weekly Cardano News February 26th

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:


  • Butane Protocol raised 49,500,000 ADA!

  • Introduction of $LEVVY Token by Levvy Finance

  • ADA Markets Steps Out of Beta with some cool features

  • Weekly Development Report by IOG


 

This week on Cardano...


Butane Protocol raised 49,500,000 ADA!


Butane Protocol raised 49.5M ADA

What is Butane?


Butane is a synthetic assets protocol built on the Cardano blockchain, which leverages the power of Plutus smart contracts written in Aiken. The platform introduces seamless and composable creation and trade of synthetic assets that accurately reflect the price of real-world commodities, currencies, and more.


Some of Butane’s novel features include action composability, adjustable multi-collateral debt positions and seamless risk-management tooling, allowing users to engage with the global markets in a secure and decentralized manner


Public Sale


The eagerly anticipated public sale of the Butane token ($BTN) took place on February 23rd, drawing significant attention within the Cardano community. $BTN, having raised 49,500,000 ADA, with a refund of 80%, so effectively raising 10,000,000 ADA to grow the protocol.


Why it is a HUGE milestone for Cardano


The completion of Butane's public sale, with a staggering 49,500,500 ADA raised, represents a monumental achievement in Cardano's funding landscape. This substantial investment underscores the confidence and enthusiasm of the Cardano community in supporting innovative DeFi projects. It not only highlights the robust financial backing within the ecosystem but also sets a new benchmark for future funding endeavors on the Cardano blockchain. This influx of funds is poised to accelerate the development and expansion of Butane, further enriching Cardano's DeFi ecosystem and its capabilities. Such a milestone is a clear indicator of Cardano's growing influence and potential in reshaping the future of decentralized finance.



 

Introduction of $LEVVY Token by Levvy Finance


$LEVVY Finance

Levvy Finance, a known Cardano Lending Platform, recently announced the introduction of their new token, $LEVVY. This move has sparked a considerable amount of discussion and controversy among the Cardano community.


Controversy and Community Response


The announcement of $LEVVY has caught the attention of the Cardano community, leading to mixed reactions. Some members of the community are excited about the potential for growth that $LEVVY represents. Others, however, have raised concerns about the implications of introducing new tokens to the ecosystem, questioning the necessity of a new token.


It's not my job to tell you if this was the right move; time will tell. I wish the team and users the best of luck. Read more


 

ADA Markets Steps Out of Beta with some cool features


Ada Markets Bubble

ADA Markets is a Cardano DEX Aggregator, which basically is a platform that lets you trade on Cardano with an algorithm that works out the best swap route for you and can split your order across multiple DEXs when required. ADA Markets officially steps out of its beta phase with the launch of their new version.


Introducing Cardano Bubbles 🫧


One of the standout additions in this release is the introduction of Cardano Bubbles. (Something new in the Cardano ecosystem) This feature offers a visually engaging and intuitive way to view the Cardano market at a glance. Cardano Bubbles represent various assets within the ecosystem, allowing users to quickly grasp market trends, volumes, and movements through a dynamic and interactive interface. This novel approach aims to simplify market analysis and make it accessible to both seasoned traders and newcomers alike. Alongside Cardano Bubbles, ADA Markets has unveiled a Portfolio page. This new page enables users to track the value of their wallet assets. Check it out.


 

Weekly Development Report February 23

 

Interesting Stories: 



 

🎊 A Message from Lucas 🎊


Hey! New week coming ahead, got a lot of pending work for this week. Hopefully I’ll be able to catch up. Cardano is growing steadily, projects and communities as well. Could not be more excited about what is coming for cardano, hope you are all as excited as me.

Well that is all from me now, see you soon! If you would like to share this with a friend, we have our custom referral links for you, we will soon be adding some surprisers for our top referrers….


Little Surprise, here is a SmartPlaces NFT. First come, first serve, be quick!!!!!


Voucher code: SPXBA-L3M1H-418WG-GLP16-GHKV5


Claim it on their website


-Lucas Macchiavelli


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