Leading altcoin projects Cardano and Polygon have reached the interoperability milestone with this innovation. Meanwhile, multi-pool staking is now possible for Cardano traders.
This tool will make two giant altcoin projects interoperable!
Blueshift’s new cross-chain protocol, the cross-chain liquidity aggregator, goes live. Thus, it will now be possible for popular altcoin projects Cardano and Polygon to work together. The new protocol will allow bridgeless cross-chain exchanges between BluesChain, Polygon, and Cardano.
https://twitter.com/blueshiftfi/status/1662244148944961539
Users can also exchange tokens on Blockchains that Blueshift is currently connected to. Blueshift will continue to work to push the boundaries of cross-chain interoperable decentralized exchanges (DEX) in the decentralized finance (DeFi) arena. Accordingly, it aims to be connected to all Ethereum L2s by the end of summer 2023. Users will be able to exchange between different ecosystems using BluesChain without the need for a central authority.
Connected Blockchains use it as a distributed ledger to record and coordinate cross-chain transactions. This means that the solution does not use wrapped assets to move assets. Instead, many affiliates interact directly with the Blockchain.
Messari highlights the best dApps in Cardano
On-chain analytics firm Messari, Cardano reflects the information it shared in its first quarter 2023 report. Accordingly, in terms of Gross activity, jpgstoreNFT and MinswapDEX remain the leading NFT markets and DEX in Cardano, respectively. However, newer protocols like Liqwid Finance are growing and seizing market share.
Stablecoin growth was driven by IUSD and Djed, with 72% and 27% dominance, respectively. Milkomeda C1 hit the market in early 2022 as Cardano’s first side-chain. It also brought EVM compatibility to Cardano. Milkomeda’s involvement in the games industry is growing, as evidenced by Paima Studios’ efforts.
The tool to help you deposit Cardano!
Rebalanced multi-pool staking will be available for Cardanians later this year. Atrium protocol users are invited to lock ADA through smart contracts and enjoy rebalancing among the most successful stake pools.
Staking Baskets, the solution for decentralized staking of the altcoin across multiple pools, will be released in 2023, according to an official statement shared by the Atrium Labs team. Thanks to this tool, Cardano (ADA) enthusiasts will be able to seamlessly transfer their ADA to multiple stake pools.
Staking Baskets are a new innovation coming to #Cardano this year.
You can easily delegate your $ADA to 50 stakepools at the same time.
For decentralising Cardano, the contract will distribute $Atrium & $ADA. Staking Basket fees are distributed back to $Atrium holders.
— Atrium Lab (@atrium_lab) May 26, 2023
The technical design of the solution was done by MLabs, a senior expert in Haskell and Rust. Atrium Labs customers will also be able to launch their own combinations of ADA stake pools for better rebalancing. In general, delegating ADA to multiple pools seems more attractive due to two factors. These are: diversification and greater rewards. Through diversification, ADA stakers can protect themselves from spending share sizes on pools that do not contribute to block validation.
In terms of rewards, Atrium developers provide bonuses in the native tokens of the protocol along with the “normal” ADA rewards. Creators of customizable stake pool series can incentivize their agents with new tokens as well as ADA. By the way, the platform’s first staking mechanism will be called Diffusion. It will likely launch this mechanism later this year.
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