Cardano’s First NFT Lending Platform Announces $25,000 Bounty Ahead of Mainnet Launch

Aada FinancesCardano’s first NFT lending and borrowing protocol, is holding a bug bounty contest ahead of its mainnet launch scheduled for September 13.

As noted in a blog post, the reward size is $25,000 for a critical smart contract vulnerability.

After months of using the public testnet, Aada Finance, a digital asset lending platform, is now ready to launch Aada V1, which would allow users to lend and borrow assets from each other using a technique non-fungible token bond (NFT) special.

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Aada Finance intends to launch ahead of the Vasil upgrade which is expected to take place on September 22. In a recent tweet, Cardano founder Charles Hoskinson talked about the upcoming Vasil as something that would enable the launch of new dApps.

“It’s an example of the power of Vasil coming this month. The new features greatly improve many different dApps and allow new dApps like Djed to be deployed on Cardano. This is just the beginning. EUTXO and Plutus are the gifts that keep on giving,” he wrote.

According to recent updates from IOG, 50% of the top 12 exchanges by liquidity, namely Binance, MEXC, Bitrue, AAX, WhiteBIT and BKEX, have indicated that Vasil is ready. Coinbase and three other top 12 exchanges are updating their nodes. Ten other exchanges have indicated that they are ready for Vasil, while several are in the process of updating their nodes. Nearly 50% of major Cardano dApps have “tested” status in pre-production while others remain “in testing”.

Cardano Founder Praises Loyalty of Crypto Communities

Founder of Cardan, Charles Hoskinsonwas recently drawn to data shared by social intelligence platform LunarCrush, which indicated that cryptocurrency social contributors had fallen 0.71% over the past six months, suggesting little or no growth in participants in the crypto market.

Hoskinson thinks this is something to be welcomed, as most massive market downturns are usually followed by double-digit drops in engagement and contribution. He added that “the fact that it remains stable means that the crypto communities as a whole are loyal and have a long-term mindset.”

At press time, ADA was trading up 4.48% at $0.513.

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