2023 will be a big year for one of the top 10 cryptos by market cap, Cardano ($ADA.X).
Crypto Capital Venture Founder Dan Gambardello thinks that Cardano’s time to shine is 2023:
#Cardano will be a top altcoin to hold in 2023 and most people won’t realize it until it’s 1,000%+ again.$ADA
— Dan Gambardello (@cryptorecruitr) January 1, 2023
$ADA is undervalued and oversold. Fear will blind most people, making them unable to see it.
Zoomed out in 5 years it will make so much sense.
Save this tweet.
— Dan Gambardello (@cryptorecruitr) January 6, 2023
In September 2022, The Litepaper talked with Input Output Group’s (IOG) Chief Marketing Officer, Jerry Fragiskatos (you can read that interview here).
Mr. Fragiskatos mentioned in the interview that “All I can say is that 2023 will be a big year for Voltaire.”
Voltaire is the final step in Cardano’s roadmap. From Cardano.org:
“The Voltaire era of Cardano will provide the final pieces required for the Cardano network to become a self-sustaining system. With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network.”
“… Voltaire will also see the addition of a treasury system, whereby a fraction of all transaction fees will be pooled to provide funds for development activities…”
“When both a voting and treasury system are in place, Cardano will be truly decentralized and no longer under IOHK’s management. Instead, Cardano’s future will be in the hands of the community…”
In other words, Cardano will be on its own after Voltaire is done.
Djed
Coming sometime this month (January 2023) is Cardano’s first algorithmic stablecoin, Djed (DJED).
Just as Cardano is named after Gerolamo Cardano, and Cardano’s wallet Daedalus is named after the mythological Greek architect who created the Labyrinth maze to imprison the Minotaur (which happens to be the logo of the Daedalus wallet), Djed is an ancient Egyptian symbol that means stability.
Pegged to the U.S. Dollar, Djed is considered an over-collateralized (between 400 and 800%) stablecoin that uses not just the ADA token but a new(er) concept called a Reserve Coin.
The reserve coin, SHEN (Shen is another Egyptian symbol for protection, connection, royalty, and symmetry), maintains the algorithmic peg and provides incentives to hodl.
However, there is extreme skepticism after Terra’s collapse in 2022 and the destruction of its stablecoin, TerraUSD.
And the skepticism isn’t just because of Terra’s collapse; it’s because of this: all algorithmic stablecoins have failed.
We’ll have to see if Cardano can pull it off.