Emurgo, one of the founding companies and partners of Cardano, has officially introduced Cardano Spot, which will be a social networking and information platform for the crypto community.
Cardano Spot has been officially announced, here are the details
Cardano Spot provides a platform that allows its users to post and share monetized content. Basically, it will be a blockchain-based social media platform. It is also the first product developed by Emurgo. The aim of the initiative will be to create media products around the ADA ecosystem.
#EMURGO, the official commercial arm and a founding member of the @Cardano #blockchain, announces a newly formed business entity, EMURGO Media, to create media-related products and services for the #Cardano ecosystem. @CardanoSpot
Full article, here: https://t.co/Duw1OO7tnF pic.twitter.com/fQREg2KpUD
— EMURGO (@emurgo_io) December 5, 2022
What does Cardano Spot bring?
According to the Twitter account, which currently has more than 1,500 followers, Cardano Spot is currently in beta testing. The official website has opened the registration phase for the white list. EMURGO lists the following items about what awaits the crypto community:
- Lead the collection and distribution of both curated and user-generated ADA-related content to the wider Cardano community
- Expand Cardano awareness and bring new users – investors, developers and businesses – from Web2 industries to the Cardano ecosystem by sharing content about potential Cardano projects and case studies on why Cardano provides unique competitive advantages
- Develop sustainable business models and encourage Cardano users to create, share and monetize user-generated content
- Help Web3 projects to successfully build their communities and communicate their narratives to the wider community
That’s not the only news
The PoS Blockchain giant has also made history in Djed, its first algorithmic stablecoin. According to the announcement, the transition date for the stablecoin on the mainnet will begin in January 2023. According to the announcement of the djed team, the testnet version has been reactivated with a number of new instruments added.
Update! Testnet version 1.1.1 of $Djed has been reactivated with new capabilities such as Vasil hard fork compatibility, activity history and more!
You can test it using $tADA here: https://t.co/KCM25wC22U$Coti $Ada #Djed
— Djed Stablecoin (@DjedStablecoin) December 6, 2022
Most importantly, the new version of Djed’s testnet is starting to support Vasil, Cardano’s (ADA) latest hardfork. Also, Nami Wallet used by DJed’s testers now displays DJED and SHEN’s logos. Divisible units are also now supported for the two cryptocurrencies. As explained by his team, the developers have scheduled some maintenance periods to ensure smooth operations.
Is it stablecoin season in Cardano (ADA)?
Djed will be the most important stablecoin in the ADA ecosystem. Users will thus empower their own payment system, DjedPay, suitable for nonprofits. CEO Charles Hoskinson has already talked about the role of algorithmic stablecoins in the Web3 industry. He recently claimed that such stablecoins could end states’ monopoly on fiat currencies. As Kriptokoin.com, we have included their explanations in this article.
Meanwhile, it has partnered with Cardano to develop Djed and related solutions on the COTI Network. Alongside Djed, Cardano’s ecosystem is approaching the launch of EMURGO’s centralized stablecoin USDA.
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