Cardano Gets More Fluid

GM GM,

What's Spotlight? Every week, we highlight the most interesting events happening around Cardano. We want to help you cut the noise and find the signal.

Developments and discussions about liquidity have created a buzz over this week! EMURGO’s breakthrough partnership with Singapore-based market maker GSR, Fluid Tokens live on Bitcoin’s Runes, and Mehen’s fiat-backed stablecoin ($USDM), are making moves.
Meanwhile, Cardano Connect (CNS), a web3 domain provider, has gone mainnet. Let’s catch up with the top news from the Cardano ecosystem:

Time to get your .ada domain 👨‍💻

Cardano Connect (CNS) Mainnet Launch Achieves Major Milestone for Cardano Web3 Ecosystem. 
The recent launch of the Cardano Connect (CNS) mainnet signifies a crucial step forward for the Cardano Web3 ecosystem, introducing an identity layer infrastructure that promises to reshape user interactions in the ecosystem.

• CNS Introduces .ada Domains for Enhanced Web3 Social Experience: Cardano Connect (CNS) unveils a pioneering social project within the Cardano ecosystem, offering users the opportunity to establish unique social identities through .ada domains. This initiative aims to enhance deeper connections and expand the Web3 social graph relationship network, promising a more personalised and engaging user experience.

• Decentralized Auction System Ensures Security in CNS Domain Registrations: With the launch of an auction system for CNS domains, Cardano Connect prioritises security and decentralisation. Utilising Plutus scripts and complete on-chain processes, CNS ensures a transparent and secure domain registration process, mitigating asset security risks for bidders.

Mehen’s stablecoin & GSR’s market-making 💧💧
The $USDM stablecoin brings many benefits to the Cardano ecosystem and the projects built on it. Some of the benefits for projects include:

• The ability to store treasury funds on-chain in a stable asset.

• Offering users a stable asset in which they can transact and store funds.

• The flexibility to price goods and services in a widely known denomination and to accept a USD equivalent payment.

• The influx of liquidity from businesses and institutions who want to transact in dollar denominations.

GSR is a Singapore-based licensed digital assets market maker and multi-stage investor

EMURGO will support bridging GSR and its suite of services to the Cardano ecosystem to:

• Enhance liquidity and market-making within the Cardano ecosystem

• Identify venture investment opportunities in native projects

• Expand user interoperability of Cardano-based projects

• Jointly advance Cardano education-related initiatives

Read more about this partnership here!

Cardano🤝Bitcoin
Fluid Tokens is set to launch $FLDT on Runes!

• Fluid Tokens, IAMX Identity, and Begin Wallet have joined hands to build an interoperable wallet-led browser, connecting to the Bitcoin blockchain. This collaborative initiative aims to bring more liquidity to the Cardano ecosystem and to take forward the multi-chain narrative.

•  FluidTokens will become the first order book Dex on Runes. Its native token $FLDT also goes live on Bitcoin Runes. What’s Runes? - It is a protocol on Bitcoin that uses the UTXO accounting model and allows the creation of fungible tokens.

• Bridging the UTXO experience to reach new markets, users, and liquidity with $FLDT at the very center of it. Its official X handle posted: $FLDT is coming to Bitcoin as a Rune.

•  Cardano Spot has brought the top voices from this trilateral venture live. Watch the complete interview recording here!
  

  

Best content of the week

Watch: Is Web3 Mainstream Ready?

Read: Stablecoins And Liquidity

Meme of the week

               Charles’ whiteboard makes a comeback!

Visit Cardano Spot to be updated with the Cardano ecosystem and learn more every week.