Cardano finally launches a fiat-backed stablecoin – USDM – which is bullish for DeFi apps on the chain. Kaspa remains unaffected by the recent news of the resignation of Binance’s CZ, and the alleged involvement with terrorist group Hamas. Everlodge begins stage seven of its presale after whales buy up the last of the previous stage.
Cardano finally has a fiat-backed stablecoin
Cardano’s development has been slow in comparison to other blockchains, and this is reflected in their TVL (Total Value Locked) which is a fraction of much younger blockchains such as Arbitrium or Solana.
Cardano seems proud of this and in a recent X post, they call their strategy the “boring” approach.
Stablecoins are a fundamental part of DeFi and until now, there have been no fiat-backed stablecoins on Cardano. But in recent news, Mehen is launching a 100% fiat-backed coin.
Previously, the community only had access to DJED, an algorithmic coin by COTI, and AgeUSD and SigmaUSD also algorithmic coins. Algorithmic stablecoins have had a rocky reputation as those in 2021 will remember the collapse of Iron Finance and the more challenging collapse of Terra/Luna when the algorithm was exploited.
Cardano’s USDM will first be launched in the US and then expanded to cover the UK, other European countries, and the Asia-Pacific region.
Cardano’s supporters though, continue to feel frustrated that the crypto-wide standard stablecoin, USDC is still not available on Cardano.
Has Kaspa solved the blockchain trilemma?
Kaspa has been presented as the alternative to Bitcoin, as a layer 1, decentralized blockchain. Some say it has solved the blockchain trilemma as it is fast, decentralized, and secure. And the market seems to agree as it is up by an amazing 1842% on the one yearly chart.
Kaspa uses the GHOSTDAG protocol. Want to see the GHOSTDAG in action? You can watch it process blocks live here. Kaspa was founded by Yonatan Sompolinsky, a pioneer in blockDAG research and inspiration behind Ethereum itself. However, some say that this fact alone shouldn’t make people too bullish as it’s unlikely that Sompolinsky will do the bulk of development.
Given that Kaspa didn’t raise money with a presale, there is not a lot of money for development, so Kaspa has frequently reached out for donations from the community.
Nevertheless, the coin continues to stay in the green and grow even though it isn’t yet available on a CEX.
Everlodge offers new opportunities for retail investors
Although most of the market is in the red today due to the Binance FUD, Kaspa and Everlodge are two of the currencies that are unaffected.
Both Kaspa and Everlodge are offering something new to the world. While Kaspa aims to solve the blockchain trilemma for everyday payments, Everlodge aims to solve the investment dilemma of the ordinary person.
Normally, a wide range of barriers prevent retail investors from having property in their portfolio – from credit checks and red tape issues to having enough capital to invest. But with Everlodge, all of this is taken care of, and the nature of the blockchain means that credit checks and geographical restrictions don’t apply.
By minting NFTs that represent the properties in which users can invest and then fractionalizing them into equally valuable fractions, Investors can buy fractions of vacation properties around the world and receive a rental yield, while also benefiting from rising house prices.
ELDG, their token, is still in stage seven of its presale at $0.025. The token is already up by 150% and will continue to rise until it launches at $0.035. Experts predict that there will be a further 300% rally on the launch day.
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