SynthLuvr
@SynthLuvr
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Algorand has a fast and cheap blockchain capable of buying ice cream.
Today we just finished the first draft of Cardano contracts for fast, fee-less transactions, allowing you to buy anything.
A seamless user experience is the goal — people will be using Cardano without even
@lesserknownbad
@_mynth_
@ItsDave_ADA
@cardano_whale
@coldjalapeno7
Lmfao
Not much differences between Algorand's ad campaign and most of Cardano's community tbf 😂
Tribalism galore
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Let's be real.
I've been building on Cardano for 3 years now. I've invested $1M+ of my own capital into this blockchain. I'm excited that Mynth has been able to get a $2M valuation within its short lifespan.
Seeing new projects pop up on other chains and getting $100M
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Are you coming to the Cardano Summit? Mynth team will be there.
We have just submitted our proposal for Battle of the Builders. Good luck to everyone.
We haven't yet begun our marketing for Mynth, so everything so far is rough. If you're interested to see what we submitted 👇
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Is there yield on Cardano? Let's find out. Walking through single sided staking using Saturn Swap
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Is there yield on Cardano? Let's find out. Walking through weighted pools using Splash
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The answer to Cardano's lack of users is simple: yield, yield, yield!
No, it's not governance. It's not USDC. It's not memes. It's bringing people opportunities to make money.
USDC is on basically every other blockchain. If it comes to Cardano, cool. But so what? There's no
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I'm bullish on Cardano, neutral on ADA.
This isn't financial advice, just ramblings sharing my perspective. I've been bullish on ADA in the past, but an investor needs to continuously reassess their investment thesis over time as more information comes to surface.
Some aspects
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Infinite TPS on Cardano!
It's all very exciting seeing people play Doom on Cardano. But what does it all mean? People could already play Doom on mobile phones, so this isn't a new problem that needed to be solved.
What is Hydra? Think of it like this. You have 5 apples and 5
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We are trying to help you. The Cardano community fudding every other ecosystem doesn't help at all. It pushes people away.
Here is an example. A lot of people within the Cardano community want USDC to be supported on Cardano. I've been trying to get USDC on Cardano for three
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Look at the comments and see the difference. This is an illustration of what I've been saying.
Cardano technology is great. It's rare though to get a warm welcoming on Cardano. I've launched a few things on Cardano now, and each time it's met with harshness.
When I introduced
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We get a lot of questions, concerns and criticisms around MyUSD and its centralization aspects.
To be clear: we never set out to make Mynth a stablecoin protocol. Mynth is 𝘯𝘰𝘵 a stablecoin protocol. MyUSD is 𝘰𝘯𝘦 of Mynth's products.
The reason we built MyUSD is because
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Want more Cardano DeFi? Then buy $MNT
Few teams in Cardano deliver as quickly as we do. Few teams have as extensive of a roadmap as we do.
The simple matter is: the more funding we have, the more developers we can hire, and the more we can build.
Lots of people like to
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This guy is a bad actor in the space. Works closely with frosty and tried to infiltrate our team with a fake identity to steal source code.
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A lot of people wonder how $MyUSD remains so stable and usable with so little TVL. It has significantly less TVL than others, yet is significantly more liquid and stable. The reason is we've figured out how to squeeze performance out of DeFi much like Axo have done.
This is done only with 60k ADA of TVL.
For comparison the biggest CBLP/ADA pool is ATM on Minswap with 1M TVL.
*We've been long waiting for testing tight-spreads MM strategies. It is just beginning of front-testing on our way to release the liquidity portal.
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This is a massive accomplishment, and people may not yet realize what this will bring.
One of the things we need for the Cardano L2 that Mynth is building is a source of randomness available on Cardano L1. There are multiple ways we could go about sourcing this.
A new protocol
I've put the entire Bitcoin chain on Cardano and added a block to it!
... sort of.
Let's rewind a bit.
This has already somewhat leaked, but I've been working on a (top-secret) open source library which I am happy to "officially" release. Enters:
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@ShillMoBaggins
@MinswapDEX
@axotrade
I've spoken with the teams from Minswap and Axo. I'd put my money on Minswap remaining king. Their team understands the space well and what are actual user needs. Minswap v2 is amazing. Will be interesting to see how it plays out though. Good luck to both.
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Wanting other projects to fail so yours succeeds in relative terms is crazy.
I want Cardano to succeed irrespective of other projects. I don't advocate for other projects to fail. I don't need to argue that other projects are bad. I only need to argue that Cardano is good.
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THORChain is a great project but Vanessa has a terrible track record and tends to bring doom to a project. Is this a sign of what's to come?
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Cardano being behind on development by 4 years is crazy. Software is hard. Estimating timelines is often fruitless.
IOG has done a fantastic job at building Cardano. However, accountability is important. They deserve to be put under community pressure to deliver on their
Re-watched the OG whiteboard video (it's been years), and it's aged well, I think. Observations:
* Cardano + Midnight were plotted long ago
* Identity, compliance, interoperability, governance, and so on--it's all there!
* Feels like things are 4 years (ish) behind?
I think
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@DeFiOptimist
A new CEX isn't needed. What would be better is to build all the tooling CEXs requires. Make it open source. Make it so ridiculously easy to add CNTs to an exchange that it'd be stupid not to do it.
A big hurdle we have is CEXs don't have the tech for onboarding CNTs. They have
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MyUSD hit the top 50, and another $1M MNT liquidity deployed.
Probably nothing 🤷
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Fun fact: I'm 'banned for life' from all of the major "next gen" TradFi apps like Revolut and Wise. It turns out, they don't actually like when you move money through them.
Wise was fine until I did a six figure transfer. Then ban.
Revolut was fine until I did a six figure
When I opened my
@RevolutApp
account, I put this on the card.
After moving low six figures through this card, Revolute closed my account because I wouldn’t keep providing more and more personal info about my “activities”
Poetically, they’ve demonstrated precisely what I wrote.
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Time to pack up. According to a community member, MyUSD is the same amount of stable as other Cardano stablecoins. No need to do anymore work to improve stability, because apparently stablecoin price doesn't matter. How silly of me for wanting to deploy more stability mechanisms
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@RichardMcCrackn
How about: all chains are bad, Cardano less bad.
Start from a position of humility. There's a lot of stuff on Cardano that needs to be worked on. Instead of bashing other blockchains, learn from them, figure out why people like them, and incorporate good features into Cardano.
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Today is a perfect example of why we push for decentralization and push against centralization. A single corporation shouldn't have the ability to completely disrupt worldwide operations.
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Many of us work tirelessly in this space with little to no support. Of course some of us are going to get mad when instead of support we get shat on.
There is zero benefit of rushing the hard fork. This is an extremely important event for Cardano, yet the communication
@varderes_crypto
We understand that some may have difficulties upgrading their stacks; if there is a specific reason or dependency that means your upgrade cannot be achieved, please reach out to us at
@Intersectmbo
or hard-fork
@intersectmbo
.org as soon as possible. The hard fork working group
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I get a lot of DMs from people and inflooencers wanting to work on Mynth's social marketing. The trouble with the grifters is they want a cushy salary while taking on no risk. We end up losing money for no gain.
So hear me out. MNT currently has a FDV of 24M ADA. If you're a
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I don't mean to criticize Indigo publicly, because Indigo is still very fond to my heart. But at what point do we rule that Indigo didn't work out as planned?
When Indigo launched, my plan was to launch new iAssets each month. Things quickly turned sour though. I knew there were
@The_INDY_Man
@Nobuya23
@Bigmaboe
Where do you get your confidence from? I had confidence while I was on the team. Since I left, iUSD has been a catastrophe.
Also since I left, I built another stablecoin that has maintained stability since day one.
An iUSD repeg would be great, since I still have a lot of INDY
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@Salmander0
Gotta love those "it is pegged your DEX is just wrong!" comments.
When you want to try an actual stablecoin that's usable for the purposes most people want to use a stablecoin for, MyUSD will always be available for you and serving the Cardano community.
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Crypto markets once again show how detached they are from reality. Fiat price is crumbling due to inflation, so the first response of people holding deflationary assets is to sell the deflationary assets for inflationary ones. Make it make sense.
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It's great that many people are enthusiastic about bringing stablecoins to Cardano. If you're interested in helping out, you can:
1) Join a Cardano stablecoin working group where we're actively trying to bring more liquidity into the ecosystem
2) Participate in the existing
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Now that Mynth takes up two spots in the top 50,
@TapTools
can we please finally get the labels updated 🙏 MyUSD should be labeled as a stablecoin, and MNT being labeled as a Bridge has never made any sense
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@stockjupiterr
Ask this again in a couple months after MyUSD has direct wallet integration. When you can directly mint MyUSD using ADA from your wallet, ease of use and liquidity will be conquered. Reliability we've already conquered, the data speaks for itself.
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@TigerHosky
@bigpeyYT
@RichardMcCrackn
@cardano_whale
It won't solve anything. Instead of calling for more centralization to come to the chain, use the working tools that are available.
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@TapTools
This is a fantastic accomplishment. It's also a good illustration of how efficiency beats traditional DeFi. Nothing against USDM, they're doing great. But USDM is currently below peg. Even with the current liquidity, you still can't buy/sell large amounts
Compare that to MyUSD,
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With end-to-end encryption being a hot topic, maybe now is a good reminder that encrypted messaging ability is deployed to Cardano mainnet
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The thing to remember is there are multiple CEXs like Binance. There will be multiple DEXs like Binance.
THORChain has proven to be one of them. The market is big enough for multiple. Mynth will establish itself as another.
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I'm not someone who cares much about narratives or hype. Heading into Q3 though we'll begin to ramp up marketing efforts. Over the past year, we've put very little effort into marketing. The goal has been to build the product to the point where it can actually realistically
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@cardano_whale
Haven't watched it either and don't plan to. His content doesn't really appeal to me and based on the sentiment leaves an even worse taste. Guy asked for feedback from Cardano community then completely ignored everyone.
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@Justin_Bons
@IOHK_Charles
Debates are productive when both sides are intellectually honest. The trouble is, you're not intellectually honest. A debate would be pointless.
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Just a matter of time before BTC cross-chain swaps are powered by Cardano
Btc cross-chain swaps are now accessible for major wallets like Robinhood, Phantom, MM, Rabby etc.
Huge win for
@THORChain
and
@SwapKitPowered
⚡️ $RUNE $THOR
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@notjuve
Yes, IOG, Emurgo and CF need to publish their balance sheets to the public. Stop making excuses
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I had to read this several times to figure out what Charles is alluding to. Lots of buzz words. What does it actually mean?
PoUW is still highly theoretical and hasn't yet been done successfully. A fundamental problem is you have to sacrifice security for utility. A blockchain
Under the hood, Algorand's tech combined with a useful proof of work tuned to AI inference would make it the greatest decentralized AI powerhouse our industry has seen. It would be cool to see it become a partnerchain and push Minotaur to its limits.
@JohnAlanWoods
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@redhairshanks86
Being drunk is very boring. Why would you voluntarily impair your cognitive abilities
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Real yield on Cardano? We have some options 😉
Going to be creating some content around this
Need some help 🙏
What real yield projects do you know of? My list is small
Don't worry if you think the project is trash, all that matters is that it has real yield
1. Could be any model
- Buyback and burn
- Buyback and redistribute
- Claimable external yield (maybe in a
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Algorand + Cardano integration to bring euro stablecoin to Cardano?
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Extended upon Pi's one-time-mint, any-time burn Aiken validator to create the off-chain code, making it easy to mint and burn tokens on Cardano
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This is actually a great idea. Let's convince someone to "attack" Cardano by spending $3M per year for no gain. Meanwhile ADA holders will collect the tx fees, and those funds can get reinvested back to the Cardano builders who are working on scaling solutions.
@atlanter
So you want to directly hand over money to ADA holders for what exactly? To make the network a little more slow? Seems like a win for ADA holders, since they make money regardless of whether users are malicious or not.
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What's missing on Cardano? Something unique. Look at the darlings of the previous cycles and you'll see they each had something unique to attract users. Comparatively, Cardano has been playing catch up.
Personally I'm fine with this, because I don't care about booms, "mass
@allYourBaseNfT
@onewisemelon
A big stablecoin will only make a difference if there's something useful to do on Cardano. We have stables already. There's lack of incentive to move a stablecoin from another chain to Cardano. Nobody is neglecting Cardano defi due to lack of big stable. They're neglecting
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@FluidTokens
You mean the second 😅 We had permissionless babel fees working via smart contracts on testnet last year. But congrats team, happy to see a new option enter the Cardano market.
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Looking forward to this space later today. Have questions? Come and join and let's talk about Cardano stablecoins
Does Cardano need USDC?
Join us this 📅Wed, Aug 21st @ 11am EST/16:00pm UTC as we unpack this with key leaders in Cardano's DeFi ecosystem.
🔊Featuring
@smurfythewriter
@USDMOfficial
@emurgo_io
@mynth
@DjedStablecoin
@Indigo_protocol
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We use TypeScript extensively for building Mynth. Today we've open sourced a small error handling TypeScript package that we've been using internally.
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Tron, Ton and Solana are the most hated chains by the Cardano community. We've already integrated Tron. Solana is in process. We'll get started on Ton integration soon 🫡
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@ItsDave_ADA
They are not constantly attacking. That is an echo chamber you're living in. Outside of Cardano, Cardano is rarely ever talked about. You see a few posts from Cardano haters and think that's the norm, but it's not. Cardano community talks about other ecosystems much more than
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@DeFiOptimist
I have a bit more insight into these things after being in Cardano for several years and having close relationships with various entities. The strategies that these entities take differ from how community projects are typically developed. There is a lot that goes on behind the
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Crypto community sure does seem odd sometime. On one hand they cry for more decentralized protocols. On the other hand they dump their money into the most centralized garbage in existence.
Naturally builders will follow your money, not your words.
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This is the future we're heading towards. It won't matter what chain you're on. Use one chain, get rewards deposited to another.
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Hence why we're building a Stripe alternative
New businesses cannot trust
@stripe
They literally holding all my money hostage and you cant get through to meaningful support. Just and endless wall of red tape.
Ive never had a refund request. So mad about this.
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Excited for this. Cardano DeFi is starting to come together.
We built our own oracle for Mynth and plan to expand it to 400 nodes. Will be watching Butane's oracle closely to see if we can integrate it or improve upon it.
Cardano 1st decentralized Oracle going live with mainnet soon. $BTN 👀 it's close. $ada
$Sunday txpipe blinklabs butane
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@OptimGMI
@MehenOfficial
@_mynth_
Just as much liquidity is available to be added for MyUSD, and even USDM for that matter, as there is for USDC. Enabling USDC on Cardano won't change a thing. Users of Cardano still need to add the liquidity specifically to Cardano.
You can do that today. If you have a million
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@Av_Sebastian
It's forcing a technology to do something it was never intended to do, meanwhile ignoring all the other technologies that are specifically designed for these use cases
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A takeaway from the Pavel situation is: decentralization matters.
Signal and SimpleX weren't affected. Now, you may think it's because Telegram has significantly more size than others (or be thinking wtf is Signal and SimpleX??). There's truth to this. But why don't other
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Super curious to see how this plays out. Will MetaMask support for Cardano lead to more adoption?
On one side, there's very low friction to downloading a new wallet. Many of the modern Cardano wallets are superior to MetaMask. This can lead one to speculate that it won't result
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@astroboysoup
No, it's the wrong way to think about this. There's no conspiracy against Cardano. It's about money.
@DeFiOptimist
A new CEX isn't needed. What would be better is to build all the tooling CEXs requires. Make it open source. Make it so ridiculously easy to add CNTs to an exchange that it'd be stupid not to do it.
A big hurdle we have is CEXs don't have the tech for onboarding CNTs. They have
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Does anybody know of a stable stablecoin on Cardano?
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@Av_Sebastian
What's the point of the tribalism? Cardano can succeed alongside Solana. Just because some Solana users talk trash about Cardano doesn't mean you need to retaliate. We could make Cardano stronger by looking at the successful products on Solana and incorporating ideas into
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While Cardano community is complaining about the latest leaked proposal, keep this in mind. Other blockchains are spending significant amounts of money.
A treasury is there to be spent. I'm against the proposal, but not because of the sticker price. If you want Cardano to be
y'all are srsly complaining that the EF’s total expenditure is $100m per year (incl. paying researchers under market rate)
while Polkadot spent $37m so far this year on marketing stunts like putting logos on private jets
ok
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Our goal with MyUSD liquid staking was to take a multistep process and simplify it. We'll make a video soon but it'll be much shorter.
Step 1: Stake MyUSD
Step 3: Profit
There is no step 2
Cardano DeFi 2.0 is lit 🔥
1⃣ How to Lend and Borrow with
@liqwidfinance
2⃣ How to bridge in and out with
@wanchain_org
Packed into 10 minute easy-to-follow video.
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@cwpaulm
Kind of annoying lol. I was about to deploy a script to deregister them, but others beat me to it
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@atlanter
So you want to directly hand over money to ADA holders for what exactly? To make the network a little more slow? Seems like a win for ADA holders, since they make money regardless of whether users are malicious or not.
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Monero is great for private transactions.
Bitcoin is great as a storage of wealth.
Why choose one over the other when you can have both? With Mynth's BTC<>XMR integration, you'll be able to keep your savings in BTC and do your spending in XMR.
@VictorMoneroXMR
Bitcoin is not ''dangerous.''🤣
There are many things one can implement to protect themselves from the supposedly ''completely transparent ledger.''
I have no problem with someone ''using'' XMR for a private spend, but I hope you're not advocating someone store their wealth in
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For those who got upset about my last post, read this.
> It’s become clear the founding entities aren’t serious about DeFi / never hired talent with deep expertise and a track records in that area.
You don't need to defend billionaires. They can defend themselves.
@RichardMcCrackn
VCs were quite interested in Cardano once upon a time.
A few teams raised from some of the highest profile VCs in crypto.
However, we’re now in a much different situation.
It’s been over two years without a real stable coin + continually low volumes and liquidity.
It’s
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Looking forward to using this to integrate with Mynth to create cross-chain Bitcoin swaps.
Mynth requires a stable pair across different chains. This is why we had to create our own stablecoin, so that Cardano could be integrated with Polygon, Arbitrum, etc.
If rsBTC is able to
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Like free money? Well we're giving away MNTX airdrop to crypto farmers. All you have to do is sign up at
Mynth is a platform empowering creation of comprehensive blockchain applications, facilitating seamless swaps, cross-chain transfers, and native
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@smurfythewriter
Many people seem to believe that USDC is some sort of magic bullet. Yet they can't provide evidence of this magic.
Typically USDC comes after good demand has been established. What incentivizes Circle to invest in building on Cardano? Right now it's a bunch of people claiming
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Wait until the market catches on that we implemented streaming swaps already
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I lay my hat on
#Cardano
and it is my home 🎩
We launched our first collection for
@workingdeadnft
here, built the foundations of our community and then expanded out the IP across multiple chains to onboard even more users to the eco-system and our platform
@work_courses
.
We
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What if you could deposit BTC and borrow $MyUSD 👀
Bitcoin loans failed. Mainly because of centralized companies, rehypothecation, volatility and the domino effect of relying on other companies failed business models.
Are there any companies working on legit bitcoin lending offerings? Or even peer to peer models?
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The trouble of using BTC as a savings account is volatility. Sure, if you wait a long enough time, the value will go up. But you can't time emergencies. When you need to dip into savings, you're at the mercy of the market price.
This is why we're building a better savings
@keenanrivals
@atxmj
@ColinLeMahieu
@jack
Think of BTC as a savings account for everyone on Earth. Think of it as fire insurance, when the house of fiat is already on fire. If people continue to find BTC to be a great way to save, it will continue to perform, forever.
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Bullish on a token? Earn yield by providing one-sided liquidity.
Want to park your savings in a stablecoin? Stake it and earn yield.
These and more strategies will be available via Mynth.
Market Making Basics 🧵:
Market Making is a process of placing limit sell/buy orders a set amount or percentage away from the current spot price.
Now why would you do this?
Read on for what I understand so far.
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Thorchain demonstrates the importance of following what users *do* rather than what users *say* they will do. Product-market fit should not be underestimated. This is why we've spent so much time over the past year exploring product-market fit.
.
@THORChain
still demonstrates great volume. Almost $1b this week.
This is a protocol with true product-market fit.
Wait until the bull market begins 👀
$RUNE
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Issuing more debt than collateral, what could possibly go wrong?
uhhh, am I understanding this correctly?
@THORChain
as a network currently has more outstanding BTC "debt" than actual BTC in their pools?
If the BTC "savers" start withdrawing, this means they will have to start force selling RUNE for BTC?
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> The winning mentality in crypto is to simply out-last everyone else. It’s a battle of energy and resilience.
This applies to life in general, not just crypto. Want to know how to get ahead in life? Simply keep showing up.
The guys getting promotions at work are the guys
The winning mentality in crypto is to simply out-last everyone else. It’s a battle of energy and resilience.
The lure of quick easy money means most people here go just as fast as they come. If they get access to that wealth they check out fast.
They also build stuff that
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@TheADAApe
You are being extremely disingenuous. Firstly, Cardano has stable stablecoins. If you don't want to use them, that's on you. Secondly, if you want to bring USDC or USDT to Cardano, go and do it. Stop whining and blaming founding entities. There are multiple initiatives right now
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