VyFi has been building on Cardano since before smart contracts were live. We've watched projects come and go, influencers rise and fall, and the ecosystem evolve through both bull and bear markets.
But again, we see lines drawn between groups who all ultimately benefit from the success of the same ecosystem. At VyFi, we've never taken a political stance. We're building tools for everyone on Cardano, and it would be strange for us to try to exclude anyone. We've kept our heads down and focused on development.
Right now, we believe we’ve built one of the most unique DEXs in all of crypto, right here on Cardano:
- Stakeless LPs should be the standard. They’re more efficient, more user-friendly, and made possible by Cardano’s eUTxO model.
- SafeSwaps is the most complete on-chain OTC and mass distribution tool on the market.
- VyFi Governance remains active and is likely one of the longest-standing on-chain systems in the ecosystem.
- BundleSwaps let users save, load, and execute grouped buy/sell orders, buying multiple tokens with just a few clicks.
- Our lottery system is fully on-chain and transparent.
- Vaults are VyFi’s oldest and most trusted product. They’re used daily by communities from Cornucopias, DEDI, NTX, and beyond.
We’re not here for noise, we’re here to build. And we're proud to keep doing it on Cardano 💪
⏰ EarthNode Operators, it’s time.
👥 The next ENO call is happening tomorrow, April 24, at 13:00 UTC.
If you're an ENO and want to take part, DM our CM @TheDePINCat ("TheWeb3Cat" on Discord).
📍 Join us in the World Mobile Discord 👇
https://t.co/tj4qEHhSOo
I wish the ecosystem would become more aware of builders vs hypers. I have been building on Cardano for 4+ years, and after 5 catalysts, the community still pans us for even trying (even though we have one of the only profitable business modals on chain, and have releasing products consistantly for our entire existance).
Ive seen so many legitimate builders essentially forced out of the ecosystem because, from what Ive noticed, building a profitable product with a user base is the best way to get hated on this chain from the community writ-large (olympus insights for example - 17k users on their education platform, cant raise 100k).
Instead, we have thrown millions at Ardana, Meld, Apes, AXO, and thats just a few of the biggest. Until we can adjust our approach, and support those that have provably build successfull businesses - we are just throwing money into the wind. But rather than change this attitude, we just give money to a few girls to take pictures of themselves around the world 😂
Im a builder, and I have recieved 0 support from CF, IOHK, IOG, and any Cardano Fundraising mechanism. How many unprofitable products do they support? But we will keep building because we are here to make the worlds financial systems a better place (If I wanted money, Id have stayed a stock-broker where I make 3x my current income, and work half the hours, AND get weekends 😂).
So until we change this attitude that hype, not builders, deserve funding - we will have marketing machines that keep draining community funds. The community know who the builders are - are still only support maybe 3 of them 😂 and honestly, its rotten from the top. Charles pushes rugs onto the community to pump his own bags as average - he is against builders on his own chain unless it pumps his own bags. The community will follow the leader - and the leader wants to disenfranchise builders away from his chain. Its not complex. Its just a logical consequence of treating builders poorly, and supporting hype machines that are pretending to invent an "Impermanent-risk free DEx 😂"
One of our most discussed up & coming changes is the $VYFI burn 🔥
Have a listen in below to find out what comes next in the VYFI burn and how you can get involved!
So I’ve been working with my likely meme coin drop team.
We’ve come up with a way to do the drop so the coins is spread EQUALLY across 10 - 20k wallets.
No sniping. No insiders or whales 100% fair drop. I’d follow/like post here closely to make sure your one of those 10k 🙃😜
👥 "It's not acceptable that half the world can't speak to the other half" - @MrTelecoms, World Mobile's CEO.
🌐 World Mobile's mission is to empower communities exploited by 'Big Wireless', by providing meaningful and affordable connectivity.
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Cardano is well funded, distributed, & focused. The $ADA vision is strong. Truly a crypto native ecosystem.
It would be a big mistake to write them off just because they’re not doing what Solana is doing.
#Cardano has been attacked time after time.
I have been running a Cardano stake pool for over 3 years now. Cardano doesn’t experience outages.
Transactions are fast and cheap. There are so many brilliant, smart people in the community.
People criticizing Cardano seem to purposely omit some of the pros of the protocol, focusing on criticism with no real substance. 'It’s a ghost chain.' No, it isn’t. Here’s a list of projects that are building on the Cardano blockchain: https://t.co/35wkCPCJwb
And yes, other networks perhaps do have more projects, but how many of substance? I am not saying every project on Cardano is worthy, hell most of them are not. But neither are the ones built on other blockchains. I would go as far to say 90% of projects in the entire crypto space as of now are purely cash grabs, scams and do not have much use cases in real world.
Moreover, Cardano offers:
Scalability: It aims to achieve scalability through a layered architecture, allowing for increased transaction throughput as the network grows.
Interoperability: Cardano is designed to be interoperable with other blockchains, facilitating seamless communication and exchange of assets across different networks.
Sustainability: The network utilizes a proof-of-stake consensus mechanism, which is more energy-efficient compared to proof-of-work systems, leading to greater sustainability.
Formal verification: Cardano employs formal methods in its development process, enabling rigorous mathematical verification of smart contracts and protocol updates, enhancing security and reliability.
Decentralized governance: It features a decentralized governance model, allowing investors to participate in decision-making processes through on-chain voting mechanisms.
Community support: Cardano boasts a vibrant and engaged community of developers, researchers, and enthusiasts who contribute to the project's growth and development.
Research-driven approach: Cardano's development is guided by academic research and peer-reviewed papers, ensuring a solid theoretical foundation for its protocol design and implementation.
Regulatory compliance: Cardano aims to comply with regulatory requirements, which may enhance its adoption and integration into traditional financial systems.
In terms of the price, the $ADA price action has surprised critics in the last bull market. This time won’t be any different. Mark my words.
In 2012, HSBC Holdings was fined $1.9 billion for violating anti-money laundering laws by facilitating money laundering and drug trafficking activities.
In 2017, Deutsche Bank was fined $630 million for accepting over $10 billion from Russian customers, which regulators said was linked to money laundering activity.
In 2019, Standard Chartered Bank was fined $1.1 billion by US and UK authorities for violating anti-money laundering regulations.
NOT A SINGLE CEO WENT TO JAIL
LET THAT SINK IN
4 months will pass and I hope that @cz_binance will come back stronger.
Cardano has a great ecosystem of solid projects that many don't know about!
I've identified 5 solid projects alongside their ETH/SOL equivalent so you don't have to!
These market discrepancies will shock you and I see tremendous upside
🧵: Let's dive in 👇
It’s not just the SEC.
The Federal Reserve leads the Operation Chokepoint 2.0 crackdown on crypto.
Custodia Bank @custodiabank has sued the Fed because it failed to approved Custodia's application for a Fed "master account."
A Fed "master account" is essentially a bank account for banks, allowing banks to use the Fed system for check clearing, wire transfers and ACH payments.
Federal law requires the Fed to grant a master account to any federal or state chartered depository institution.
Custodia is a Wyoming chartered depository institution.
It usually takes 5-7 business days for the Fed to approve a master account.
Custodia waited with no response from the Fed to its master account application for 20 months.
So, Custodia was left with no option but to sue the Fed.
The Fed then denied Custodia’s application for a master account 8 months after the lawsuit was filed.
(Yes, this does sound exactly like how the SEC treated @Coinbase's petition for rulemaking.)
Custodia has turned up some fascinating details in the discovery it has conducted against the Kansas City Fed and the main Fed in DC.
A tangled web indeed:
In connection with Custodia's application for a master account, the Kansas City Fed conducted a comprehensive examination of Custodia and submitted its Report of findings to the main Fed in DC.
What happened with that Report tells you all you need to know about how our government is treating crypto.
Capital
After a comprehensive investigation, the Kansas City Fed's Report concluded that Custodia’s capital was “adequate.”
Without any additional investigation, the Fed in DC changed the Report to say there was a “lack of a robust capital requirement framework” at Custodia.
Risk Management
The Kansas City Fed concluded that Custodia had “strong risk management” practices.
The Fed in DC changed the Report to say there were “significant risk management gaps.”
Liquidity
The Kansas City Fed concluded that “liquidity risk was relatively low” at Custodia.
This makes sense because, unlike banks that use a "fractional reserve" business model to lend out deposits, Custodia uses a "fully reserved" model--meaning it retains liquid reserves covering over 100% of the deposits it takes in.
Notwithstanding its hyper-conservative liquidity model, the Fed in DC changed the Report to say there were “insufficient liquidity risk management processes” at Custodia.
Management Experience
The Kansas City Fed concluded that the experience of Custodia's management team was “impressive” and “extensive.”
The Fed in DC changed the Report to say there was a “lack of collective depth of relevant banking experience” at Custodia.
The Report, “revised” by the Fed in DC to say the opposite of what the Kansas City Fed had concluded, was used as the basis for denying Custodia's application for a master account.
It is obvious from the documents uncovered in discovery that the process was rigged because the Fed objected to Custodia’s plan to provide banking and digital asset services to individuals and businesses involved in crypto.
To their credit, the @BlockchainAssn and the Attorney General of Wyoming filed amicus briefs in support of Custodia's recent motion for summary judgment.
Fighting the Fed is the quintessential David v. Goliath battle.
Fortunately, Caitlyn Long @CaitlinLong_ the CEO of Custodia, is a fighter.
But Caitlin is not just fighting for Custodia,
she is fighting for all of crypto and the principle of financial freedom.
I’ve been making efforts to get Cardano on @DEXToolsApp & seeing progress!
It’s time for this to happen.
I need every CNT community to let them know you support this getting done!
Their team is ready & willing.
I’m talking about you @snek crazies, @Indigo_protocol OGs, @IagonOfficial holders, @LenfiOfficial gang, @DexHunterIO crew, @TapTools users, and everyone else!
Make some noise and let it vibrate through the crypto ecosystem.
Cardano is too big to be stranded on this island any longer.
It’s time to build bridges.
It’s time to expand.
Like and repost to keep momentum going.