Cardano’s first NFT lending platform announces $25,000 in Bounty ahead of Mainnet launch

Cardano’s first NFT lending platform announces ,000 in Bounty ahead of Mainnet launch

Ada FinanceThe Cardano First Lending and Borrowing Protocol, NFT, is hosting a bug bounty contest ahead of the mainnet launch scheduled for September 13.

As mentioned in a Blog postThe reward size is $25,000 for a sensitive vulnerability in the smart contract.

After months of public use of the testnet, Aada Finance, a digital asset lending platform, is now ready to launch the Aada V1, which will enable users to lend and borrow assets among themselves using private non-fungible bond technology (NFT).


Aada Finance intends to pre-launch the Vasil upgrade which is expected to happen on September 22nd. In a recent tweet, Cardano founder Charles Hoskinson spoke of the upcoming Vasil as something that would enable the launch of new dApps.

β€œThis is an example of the power of Vasil to come this month. New features greatly improve many different dApps and enable new dApps like Djed to be deployed on Cardano. This is just the beginning. EUTXO and Plutus are the gifts that keep giving,” he wrote.

According to a recent update by IOG, 50% of the 12 largest exchanges in terms of liquidity, namely Binance, MEXC, Bitrue, AAX, WhiteBIT and BKEX, have indicated Vasil is ready. Coinbase and three other exchanges in the top 12 are in the process of updating their contract. Ten other exchanges have indicated they are ready for Vasil, while several are in the process of updating their contracts. Almost 50% of the best Cardano dApps are in ‘testing’ status in pre-production while the others remain ‘testing’.

Cardano founder lauds loyalty of crypto communities

Cardano founder, Charles HoskinsonRecently, he was drawn to data shared by social intelligence platform LunarCrush, which indicated that social contributors to cryptocurrency have declined by 0.71% in the past six months, indicating little or no growth in crypto market participants.

Hoskinson thinks it’s commendable because most massive market downturns are usually followed by double dips in participation and contribution. “The fact that it is stable means that crypto communities in general are loyal and have a long-term mindset,” he added.

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

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