Read the latest Cardano news and updates. In the first week of September, the Cardano community has some exciting news to share.
We bring you the most recent news from the Cardano ecosystem. Entering September, we came very close to the Vasil Hard Fork upgrade. Find out the latest news about the Vasil Hard Fork in this article. Apart from that, there is a lot of other news in the Cardano ecosystem that we cover for the first week of September.
Just one piece of information before we move on to the news from the Cardano ecosystem. According to a recent survey on global brand intimacy, Cardano ranks first when representing the cryptocurrency sector. According to an MBLM study, Cardano ranks 26 out of 600 brands and is the market leader in the cryptocurrency industry.
Vasil Hard Fork Is Almost Here
Cardano is getting closer to releasing the Vasil Hard Fork, one of its most significant updates as yet. The Cardano network’s inventor, IOG, has identified three significant milestones that the network must meet in order for the hard fork to be triggered. The upgrade is closer than it has ever been, as confirmed by the developer, with the first of the three metrics already reached at this moment.
Progress towards to the #Vasil mainnet upgrade continues…
— Input Output (@InputOutputHK) August 29, 2022
The developer had already made progress on completing the requirements for the upgrade when they determined that the Vasil Hard Fork was bug-free. The first of these requirements was that the final node version has to be upgraded by at least 75% of all SPOs.
The second measure was that the top ten dApps by TVL on the Cardano network have upgraded to Vasil-supported nodes. According to a Twitter statement, more than 70% of dApps have already passed pre-production testing.
The last requirement was that at least 25 exchanges, representing around 80% of all ADA liquidity, upgrade to support the network post-hard fork. This is the final step before the hard fork.
Cardano Gets Its First Lending App
Aada Finance, a crypto assets lending platform, has announced the launch date for its first lending and borrowing protocol, Aada Finance V1, on the Cardano blockchain. V1 will be released on September 13, 2022, and will be the first time that decentralized finance (DeFi) primitives are added to the Cardano blockchain, which is built on the Plutus smart contract platform, which was initially introduced in the Alonzo hard fork in September 2021.
— Aada (@AadaFinance) August 31, 2022
Aada Finance, built on the Cardano blockchain, is a completely decentralized lending and borrowing protocol. Its smart contracts enable users to lend and borrow assets on a peer-to-peer network by utilizing the unique non-fungible token bond method.
The platform also offers multi-asset lending and borrowing, as well as the Aada 3-Node Liquidation Oracle. The latter is important in enabling lenders to liquidate their loans in the case of a fast loan health factor decline.
Cardano Announces Research Hub at Stanford
Input Output, a Cardano developer, has announced a new research center in collaboration with Stanford University. The company that created one of the most popular proof-of-stake blockchains put $4.5 million into the new lab.
— St₳kΣ with Pride 🌈 Ardana & Hosky ISPO (@StakeWithPride) August 29, 2022
Over the period of three years, Input Output will provide funding. Faculty, undergraduate, and graduate students will be able to apply for financial support once calls for proposals open next month. The deadline for proposals is November 2022. Input Output will have two representatives on the steering committee. According to Hoskinson, CEO of IOG, the new research hub would allow blockchain development to move more quickly. The brand of a top institution will also give much-needed credibility to the cryptocurrency industry.
Cardano Participates in an $11 Million Investment Round in a Kenyan Fintech Company
Charles Hoskinson posted on Twitter to announce that the business behind Cardano, IOG, has participated in an $11 million funding round for supporting a fintech startup, Pezesha, situated in Kenya, Africa. He expressed his enthusiasm for this company’s goal of increasing microfinance throughout the world.
Hilda is one of the great entrepreneurs of Africa and I'm excited to support her in Pezesha's mission to change Microfinance throughout the world. https://t.co/UcRNYPEOMh
— Charles Hoskinson (@IOHK_Charles) August 30, 2022
IOG and the Women’s World Banking Capital Partners II fund have led an $11 million financing round in Pezesha. This fintech firm intends to expand into other African countries.
Pezesha is a lending company that has built its own scalable infrastructure for digital lending, attracting local financial institutions to give microloans to African SMEs.
Cardano Gets Listed on Robinhood
Cardano (ADA) has been added to Robinhood, a well-known U.S. brokerage platform. Users will be able to trade the cryptocurrency and get exposure to its spot price. The release claims that Robinhood added Cardano due to demand. Cardano has long been a popular cryptocurrency, and it reached the top 10 by market capitalization of all cryptocurrencies.
— Robinhood (@RobinhoodApp) September 1, 2022
Cardano (ADA) Staking Now Supported by Binance.US
The San Francisco-based subsidiary of cryptocurrency giant Binance, Binance.US, now supports Cardano staking. The trading platform provides yearly returns of 6.4% on the ADA token.
🆕@BinanceUS Adds Cardano (ada) Staking
— Cardano Foundation (@CardanoStiftung) August 31, 2022
“Another week, another new stake option,” said CEO Brian Shroder.
In an aim to compete with Coinbase, the exchange added functionality for high-yield staking in early June. Binance first added support for Cardano staking in February 2021. In early August, Sygnum Bank in Switzerland enabled its clients to stake the ADA token.
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