KAWANua Pool | NOT YOUR 🔑🔑NOT YOUR 👛👛

Provide emergency assistance to victims of natural disasters. We will deposit 10% of operator reward into the emergency fund wallet

[KAWANua Pool | NOT YOUR 🔑🔑NOT YOUR 👛👛 @KawanuaP]

Provide emergency assistance to victims of natural disasters by donating 10% Operator Reward.
Deposit 50% pool margin to Treasury system and distribute as program to small delegators.
Deposit 40% pool margin to Marketing pool promotion to invite big delegators.
#CardanoCommunity

[Plutus @PlutusPool]

Hey @solana guys - have you ever wanted to know what it's like to not shutdown? Now is your opportunity!

$SOL is now available on #Cardano!

You can now own Solana without worrying if it goes down or not! Full send! 🚀

$ADA #Solana

[KAWANua Pool | NOT YOUR 🔑🔑NOT YOUR 👛👛 @KawanuaP]

@Straightpool4 Thanks for your effort to notes and share it. Really helps those can't make the call.

[Straight Pool (STR8) @Straightpool4]

SPO Call Notes for July, 11th 2024

Mithril
Final stage of development for certification of transactions. Preprod testing soon.
New Mithril signer node release for new Cardano node 9.0.
Fluctuations noticeable in number of active Mithril signers.
Please setup monitoring when signer goes offline to take action. Prometheus endpoint can be used here, link:
https://t.co/eijW9QAbBR

Engineering/General
Lots of work, new record number of new Cardano nodes in only 2 weeks time. Four new node releases, also due to DDoS attack. Thanks to community who helped mitigate the attack so quickly.
Networking held up incredibly well, thanks to all SPOs who managed their pool so well during this time.
Nodes 8.12.2+ and 8.9.4 contain hotfix.

Node 9.0
Thanks for updating first community scripts and guides for node 9.0 so quickly, we are very strong as a community.

Recommendation to upgrade mainnet nodes to 9.0, unless you have to rely on dbSync, which is not updated just yet.
There won't be a lot of changes between 9.0 and 9.1, primarily the new Conway genesis file will be included.

Chang#1 Hard Fork in Mainnet
OnePager to show Chang Upgrade Readiness in Draft currently, will be published soon.

SPO readiness will be judged based on Cardano node 9.1.0 not 9.0.0! There will be an minor network protocol update in the block header with 9.1.0 to differentiate node 9.1 from 9.0.

So SPOs who upgrade to 9.0 now should update their binaries to 9.1 when released to signal readiness for the HF.

The issue is node 9.0 may or may not contain the correct Conway genesis file. Only with the correct file the hard fork can be crossed by node 9.0!

For three ICC members the governance utility NFTs are already minted on mainnet, progress here.

As soon as all ICC keys are available, node 9.1 will be released with very little delay as there are minimal changes between 9.0 and 9.1 with Conway genesis file.

New Cardano Ledger App 7.0 or 7.1 with full support for Conway is on track for July 18th.

Testnets
Sanchonet respawned yesterday with new ICC settings.
Faucet on Sanchonet will be setup, so people can request funds to test.
Preview Genesis is getting ready.
Full ICC does not need to participate in Preview testing.
In PreProd the whole ICC should however participate in testing.

The guardrail test script runs thousands of tests, couple minor things need to be updated.

Hard Fork working group has weekly Q&A

Plutus
Costmodel for V2 and V3 should be lower across the board for all DApps thanks to optimisations, V3 will be more expensive when new primitives are used.

Lots of changes with Plutus V3 (new reference script logic, new cost model, new Zero Knowledge primitives, ...)
If DApp developers have not been paying attention, now is a good time to take a look.

Governance Q&A
If all parts of the governments (SPOs, ICC and DReps) are colluding then by definition they are acting on your behalf, nothing can stop them, governance works as designed.
It would be more concerning if the system was more restrictive / divisive / complex in this.

When an average ADA holder is not paying much attention and only using his/her wallet once in a while, it will be hard for them to get notified on things happening in governance.
Suitable topic for Intersect working group on communication strategies.

[Darren ☘🇮🇪 @CryptoIRELAND1]

#Cardano most decentralised #1
Yet few understand the importance of decentralisation

[Michael Saylor @saylor]

15 Years of #Bitcoin in 15 Minutes

[Indigo @Indigo_protocol]

📢 Indigo Protocol V2 Upgrade Information:

If approved, the Indigo V2 upgrade is scheduled for the week of April 22. Please note that the Indigo web app will be offline for approximately 4-6 hours during the upgrade period. Users should consider adjusting their CDPs prior to the upgrade to avoid any issues when the web app is offline, such as adjusting collateral to lessen any risk of falling below the minimum collateral amount.

[Input Output Group @IOGroup]

'Governance is not optional' @IOHK_Charles

In this fireside chat with @Google's Marlon Ruiz, Charles Hoskinson discusses the  governance structures within #blockchain networks, the importance of interoperability between different chains, and the role of #governance in ensuring the success and sustainability of cryptocurrency projects.

👀Watch it now: https://t.co/HsQpVpZh7r

#Web3 #GoogleTechTalks #web3talks

[ADA Markets @AdaMarkets]

Multi Dex, Multi Swap, 1 TX ➡ Cardano 💪

Testing one of us our upcoming features to allow multiple different swaps on multiple dexs in 1 tx.

This example was 38 different trades with a mix of selling CNTs, buying CNTs, market orders and limit orders all summited in 1 tx.

We could fit a lot more than 38 swaps in one tx but this was just an initial test on mainnet. Final testing and tweaks ongoing and then we will release for everyone to have a go.

This is the base for a lot more that we will build on top of it...

[KAWANua Pool | NOT YOUR 🔑🔑NOT YOUR 👛👛 @KawanuaP]

@LawrenceCrypt0 Lol
Triggered by this GIF ?
so shallow dude..

[Indigo @Indigo_protocol]

📢 There are four Indigo forum polls now live!

📜The V2 Proposal has been moved to a poll, and the audit summary has been added to the V2 temperature check proposal.

⚖️ $iBTC, $iETH, and $iUSD Parameter Proposals have been moved to a poll. These parameters target the gradual recalibration of iAsset's peg through the introduction and calibration of interest, aiming to balance the ecosystem dynamics and reinforce iAsset's utility and market confidence.

The objective of introducing interest rates before redemption is to partially correct iAsset values across DEXs before activating the hard-peg redemption mechanism. This approach aims to smooth the transition to V2, minimizing any potential disruptions and the number of redemptions necessary for peg to be restored.

Participate in all four polls below:

Indigo Protocol V2 Deployment: https://t.co/sVgoYHYuWm

iBTC Parameters: https://t.co/CpKRjRUJF0

iETH Parameters: https://t.co/Mcy3ecYHNK

iUSD Parameters: https://t.co/GrBEVoRV9z

[Bankless @Bankless]

BlackRock's first tokenized fund is a bigger deal than people think 🧠

Here's why👇 (1/6)

[Indigo @Indigo_protocol]

Coming with V2:

💵Buy to Burn🔥(aka B2B) is a surprise Indigo Protocol V2 feature that utilizes Dexter, Indigo's open-source DEX Aggregator, and allows users to swap $ADA for iAssets while managing their CDP! #IndigoProtocol

Here's a Demo👇

[Michael Saylor @saylor]

When will #Bitcoin reach a new all-time high in your country?

[Duo Nine ⚡ YCC @duonine]

The more I read about EigenLayer, the more obvious it becomes how Ethereum fails in its design.

Look at this picture. EigenLayer is a fix to what ETH should do natively.

You can do patchwork only so far before a better horse comes along. What chain will be the Ethereum killer?

[Duo Nine ⚡ YCC @duonine]

🚨 Why are crypto ponzis always related to new stablecoins? A long post.

▫️ Buy 1 ETH for $3,000
▫️ Stake ETH into stETH
▫️ Turn stETH into wstETH
▫️ Use wstETH to mint mkUSD
▫️ Use mkUSD to borrow more ETH
▫️ Stake ETH into stETH...

This is how you create magic money and turn 3k into 30k. You double, triple, quadruple count the same collateral aka leverage it.

DeFi's total market cap pumps dozens of billions overnight in a bull market and also crashes 90% in a bear market because of it.

It's all FAKE money.

You create more "money" from nothing and stablecoins are a key ingredient in that recipe. They allow you to leverage up, fast.

This is no different than fractional reserve banking where your $3,000 bank deposit turns into $29,999 new money created from thin air.

To achieve such a feat, it takes 100 cycles of deposits. See my picture.

Crypto never reaches 100 cycles, because the bubble bursts sooner rather than later.

Fiat "economists" even call this process a "business cycle". A more appropriate name is a bubble driven by ponzinomics and irresponsible money creation due to greed.

If you read crypto twitter, you will see people talk about liquid staked tokens (LST like stETH) and liquid re-staking tokens (LRTs like reETH) as the next best thing in crypto since sliced bread.

WRONG.

It's the next big bubble or ponzi. EigenLayer should not excite you, it should WORRY you!

If you seek an alternative view, then hit a follow @duonine to stay updated as this bubble develops.

Once you start seeing this "amazing" new LRT token being used to mint stablecoins on your X feed know that the bubble is about to reach its peak.

The higher the market cap of those new shinny stablecoins backed by LRTs tokens, the bigger the bubble.

Remember, $3,000 is the actual collateral for $30,000! That's a 10x leverage.

If ETH is 3k and it crashes by 10% or $300, the bubble deflates by 3k! That's 3k gone in your new shiny LRT stablecoin!

Such stablecoins will go to zero in the worst case scenario. This is how a liquidation cascade starts and panic begins.

Why does this concern me?

Because it will hurt native ETH holders that don't even stake their ETH. Picture this.

Let's say the LRT bubble grows to $50 billion. Actual backing? $5 billion in ETH or even less.

How exactly can $50 billion exit or sell at a profit using $5 billion of ETH collateral?

It can't.

What happens next is people get wiped out. LST and LRT tokens crash vs ETH's price by 10%, 50% or more. Any stables backed by LST/LRT tokens depeg and crash even more.

In the process, as $50 billion of fake money wants to exit, it will drag down ETH's price beyond a normal correction or crash. ETH is the liquidity of last resort for LST/LRT tokens.

Worse. It will drag down BTC's price as well. Because people will become DESPERATE to exit at ALL costs, even if they lose 50% of their money or more. BTC is the liquidity of last resort in crypto, just like the Fed for USD.

This is why bear markets are BRUTAL. They correct such imbalances. They are necessary and do well to punish such greed.

Don't believe me?

Have you heard of Blast L2? That's an ENTIRE network that will use LST tokens and stablecoins backed by LSTs to give its users "native yield".

Those users have no idea what's coming in the next two years and they deposited BILLIONS on Blast L2.

Projects always seek to create more yield to attract users, but that comes at the risk of an entire network like Blast going insolvent if they don't control their greed.

Do you trust them to put breaks on making free money?

In the last crypto cycle, Terra Luna UST imploded to 0 from $50 billion. It also used a stablecoin for their project. It double, triple, quadruple counted the same money while pretending it was real. Greed took over.

You need to EXIT early and well before that $5 billion in real collateral is gone. Cash out and don't ape back. That includes removing all assets from networks like Blast L2.

You are only safe on NATIVE chains like ETH or BTC.

This time, the bubble will use ETH LRTs and associated stablecoins. I'm concerned and few people will write about this because it puts a break on this bubble and greed.

I've seen too many crypto cycles repeat the same story. This is nothing new. At the end of the day, crypto is a free for all. There's no regulation, but at least we can educate.

Why risk your ETH for 3-6% yield when ETH will 2-5X this cycle?

Funny enough, this LST/LRT bubble will also be the reason ETH will pump hard because all those tokens will LOCK-UP ETH as collateral in a huge pyramid.

When Vitalik decided to take Ethereum from Proof of Work to Proof of Stake he enabled and allowed the creation of such ponzimonic mechanisms.

For this reason alone, Bitcoin is superior.

Don't be fooled by this market and don't let greed take over. It ends badly.

Hit a like and retweet this message to wake up more people and don't forget to follow me @duonine

P.S. I respect anyone building in this space and any examples or tokens mentioned above are used for illustration purposes only. What will eventually happen, we will all find out, but let's call it as it is.

[Vacuumlabs @vacuumlabs]

Attention all Cardano Stake Pool Operators,

Please pay close attention to this critical announcement if you currently manage your pool keys using a Ledger Nano S hardware wallet.

We are eagerly anticipating the release of two significant updates for the Cardano Ledger app: versions 6.1.2 (with extended Catalyst support that has been added in 6.0.0) and 7.0.0 (Voltaire/Conway support), with version 7.1.0 (off-chain message signing) nearing completion. However, of even greater importance, Version 7.0.0 will mark the beginning of a Cardano Ledger application split. Starting from this version, there will be distinct feature sets between the Nano S Cardano Ledger app and the Cardano app for other Ledger devices.

This divergence is driven by memory constraints inherent in the Ledger Nano S. After careful consideration, it has been determined that the most effective approach is to maintain primary end-user functionalities on the Nano S. Therefore, as of version 7.0.0, stake pool operations will no longer be supported on the Nano S. This requires stake pool operators to transition to a Nano S+ or Nano X device to continue managing their pool keys using a Ledger device. Consequently, signing pool registration certificates, pool retirement certificates, and pool operational certificates will no longer be possible on the Nano S starting from Cardano app version 7.0.0.

Furthermore, the derivation of native script hashes will be removed from the Nano S app, as this functionality is not utilized in any major use case known to us. Also, this derivation can still be performed off-device, given the available use cases.

The expected release date for Cardano app version 7.0.0 is the first half of March.

[KAWANua Pool | NOT YOUR 🔑🔑NOT YOUR 👛👛 @KawanuaP]

@orcfax Laboo the Orca #NameTheOrca

[Cardanians (CRDN) @Cardanians_io]

ADA is not a security.

- The initial sale of the $ADA took place in Japan and was conducted in accordance with Japanese law.
- US citizens were left out.
- #Cardano is the most decentralized network in the top 10.
- No one ever promised anyone a profit from holding ADA.
- Charles Hoskinson was explicit and said he had no influence on the price of the ADA and didn't care.
- ADA is used as a scarce resource for the decentralization of Cardano.

[Switzerland for UNHCR - Innovation @UNHCR_CH_Innov]

Howdy from #Consensus2023🤠

You guessed it! We're back with @TURF_NFT and @nmkr_io for a second drop of exclusive NFTs in support of people forced to flee 💙

⏰It's limited! So mint yours now, and you might even get lucky with a golden one 💫

➡️https://t.co/J2C5IkbBro

[WoodCutCrypto @WoodcutCrypto]

i have cut 4 wood boards that ready to prints in my 4 weeks artist in residency program at #ubahrumah #nikoiisland #nikoiprivateisland . Should I prints on papers or mint as NFT?! @rahung @SaichuAnwar @vvisenu @ezcnft @netanelchn @FeederGastro @WIRAWANCARDANO @KawanuaP