• Cardano’s First NFT Lending Platform Announces a $25,000 Bounty in Advance of Mainnet Launch

  • Aada Finance, Cardano’s first NFT lending and borrowing protocol, is holding a bug bounty competition ahead of its September 13 mainnet debut.

    According to a blog post, the incentive for a critical smart contract vulnerability is $25,000 USD.

    Following months of public testnet use, Aada Finance, a platform for lending digital assets, is now preparing to launch Aada V1, which will allow users to lend and borrow assets among themselves via a unique non-fungible token (NFT) bonding technique.

    Aada Finance aims to start before of the Vasil upgrade, which is scheduled for September 22. Cardano inventor Charles Hoskinson recently mentioned the forthcoming Vasil as something that would allow new dApps to be launched in a tweet.

    “This is an example of the power of Vasil that’s coming this month. The new features dramatically improve many different dApps and enable new dApps like Djed to be deployed on Cardano. This is just the beginning. EUTXO and Plutus are the gifts that keep on giving,” he wrote.

    According to recent IOG updates, 50% of the top 12 liquidity exchanges, notably Binance, MEXC, Bitrue, AAX, WhiteBIT, and BKEX, have declared Vasil ready. Coinbase and three other top-12 exchanges are in the process of replacing their nodes. Ten more exchanges have signaled their preparedness for Vasil, and others are updating their nodes. Nearly half of the top Cardano dApps are “tested” in preproduction, while the rest are “in testing.”

    Cardano’s founder appreciates the commitment of crypto communities

    Charles Hoskinson, the founder of Cardano, was recently intrigued by data published by the social intelligence platform LunarCrush, which showed that bitcoin social contributors declined by 0.71% in the last six months, implying little to no growth in crypto market players.

    Hoskinson says it is noteworthy because most major market downturns are followed by double-digit drops in engagement and contribution. He went on to say, “The fact that it has remained constant indicates that the crypto groups as a whole are loyal and have a long-term outlook.”

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