Cardano’s Vasil Functionality to Become Operational on September 27
In accordance with the most recent DefiLlama statistics, Aada finance, a noncustodial lending covenant on Cardano’s mainnet, has seen a tremendous increase in total value locked. While preparing this report , Aada finance’s seven-day growth rate has hit an astounding +565,873 percent. Aada finance is the initial platform that allows lending and borrowing of native Cardano tokens. After many months of public testnet trial, it became functional a week back (on September 13).
Aada’s V1 protocol matches with pre-Vasil hard fork mood, which is why the Aada team decided to release the platform earlier to the much anticipated update. Cardano’s TVL decreased by 1.19 percent during the last 24 hours, reaching 79.58 million (without staking). However, wagering would increase the TVL to 97.9 million.
Entire value locked (TVL) is the aggregate value of crypto assets accessible throughout all protocols of decentralized finance (DeFi). DefiLlama statistics indicates that Minswap is the largest decentralized Cardano exchange. Minswap owns about $41.47 million worth of TVL and a 42.36% market share.
Cardano has revealed that the hard fork combinator update for Vasil will occur on September 22. On September 27, nevertheless, one epoch following the hard fork, the Vasil feature will turn active. The Vasil update intends to enhance the blockchain’s processing ability, interoperability, functionality, and scalability via the addition of new enhancements and features.
In addition, Vasil would provide access to data stored on the blockchain without the requirement to spend and regenerate UTXOs (Unspent Transaction Outputs) as was actually required. Latest IOG updates indicate that programmers have already created 99% of mainnet blocks using the Vasil node (1.35.3). Eight of the top twelve exchanges and Cardano decentralized applications have certified their preparedness for the Vasil update.
AADA FINANCE LENDING INSTRUMENTS
successfully launched, marking a milestone for the DeFi sector as well as the whole Cardano ecosystem. Let’s have an overview through the current lending instruments on @AadaFinance.
#cardano #lending #cardano $AADA pic.twitter.com/U2FiEKaOK9
— Cardano Daily (@cardano_daily) September 14, 2022
Champ Medici, the son of the famed hip-hop singer Snoop Dogg and a prominent proponent of cryptocurrency, has released Clay Nation recordings, Volume 1. He devoted the record to Cardano’s most prominent NFT initiative, Clay Mates, and the Cardano blockchain in general. It is Champ Medici’s debut official release after becoming a part of the clay nation squad a month ago.
Clay Nation Tapes Vol. I. 👀
New music from @champmedici
3 original tracks added to the metadata of Baked Nation NFTs with full commercial rights to holders.
🎤 ADA Dreams
🎤 Lil Flex'n
These cassettes will later unlock the stems 🔐
— Clay Nation 🏕️ (@claymates) September 18, 2022
Throughout all three tracks of his latest album, Champ Medici exuded confidence and excitement over his cryptocurrency expertise. In ADA dreams (the album’s opening tune), the musician sung of his hopes for wealth as a Cardano investor. In addition, his father, the renowned Snoop Dogg, made a surprise appearance in the song, rapping on the impact cryptos and blockchain would have on the globe.
In a separate tune titled manifest, the singer indicated that he would save his Cardano investment and stop listening to the announcement in order to prevent misunderstanding. Champ Medici revealed his ambitious nature in the album’s final song, singing about NFT collections and purchasing the most costly ones for his girlfriend. Depending on the title of this CD (Clay Nation Tapes Vol. 1), it seems probable that Champ Medici will continue to produce other songs on this label.
The publication of the CD overlapped with the Clay Mates project’s birthday on September 9. The studio stated that more than 4,200 individuals turned out to be owners of the digital art series throughout the course of the year and that the venture’s secondary market income exceeded 25 million ADA.