Cardano’s Staking Success: ADA Tokens Surpass 430M

Cardano’s staking ecosystem has achieved a significant milestone as the total value of ADA tokens staked on the network surpasses 430 million. 🀩

This accomplishment reflects the growing confidence in $ADA‘s proof-of-stake (PoS) consensus process, where ADA holders actively contribute to network security and earn rewards.Β 

Additionally, as more tokens are staked, less ADA is available for trading, potentially driving up the market value of ADA. Investors who participate in staking not only contribute to the network but also stand to benefit from potential price growth. πŸ“ˆ

As ADA holders continue to stake their tokens, Cardano’s network becomes more robust, offering a promising future for the platform and its stakeholders.

Case in point:

Minswap, the largest DEX on Cardano, became the 9th largest DEX by traded volume on Monday and the 17th for the past 30 days.Β 

Oh, and here’s a random anecdote: when trades are executed on Minswap’s platform, a cat-purring sound plays. 😺

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Top 10 Market Cap Staking Yields – May 6, 2023

The table below is the current (April 29, 2023) staking yield rates of the top ten Proof-Of-Stake cryptocurrencies by market cap.Β 

Staked % is what percent of the total supply of that cryptocurrency is currently used to earn staking rewards – sometimes called ‘Lock-Up.’

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Crypto 101: The Role Of Lending On DEXs

Lending is a core component of many DEXs. πŸ”„

These lending protocols allow users to borrow or lend digital assets, with interest rates typically determined algorithmically based on supply and demand dynamics.

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Mixin Network’s $200M Hack Saga

Mixin Network got hit with a $200M exploit, but there is a plot twistβ€”they’re offering the hacker a $20M “bug bounty” to return the funds. 🌌

Yes, you read that right. They’re like, “Hey, Mr. Hacker, keep $20M and give us the rest back.”

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