Fund12 Voting, Mt. Gox and OADA

GM Frens,

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

The Cardano community has celebrated the festival of voting this week, nearly 4,000 voters cast 135,000 votes for 1208 Catalyst proposals. Meanwhile, Japan-based exchange Mount Gox has transferred Bitcoin worth $2.71B from its cold wallet to distribute its users’ dues. In other news, Switzerland-based Post Finance has started offering its clients Cardano ($ADA). Let’s deep dive into these developments:

Cardano celebrates the festival of democracy 💙

Project Catalyst is a community-driven innovation that supports Cardano-based concepts and impactful projects in the real world. It focuses on placing the community at the core of Cardano's future evolution and development.
In Catalyst Fund 12, nearly 1,500,000,000 ADA has voted from 4,000 unique wallets as of July 5.

Only six days of Fund12 voting remain; cast your vote and practice your rights. Catalyst Fund12 voting ends on July 11, 11 AM UTC. Listen to some of the catalyst proposals here!

Mt. Gox Transfers $2.71 B Worth BTC, Crypto Scares 😱

Mt. Gox, the Japanese crypto exchange that collapsed in 2014, announced via X (Formerly Twitter) on June 24 that it will commence compensating creditors in July. This compensation will involve approximately $9 billion worth of Bitcoin and Bitcoin Cash. On July 5, the exchange transferred its digital assets from a cold wallet to a hot wallet.

Recent on-chain data suggests increased selling by miners, signalling bearish market momentum. Additionally, the German government has also initiated the transfer of Bitcoin to exchanges. As a result, Bitcoin (BTC) is experiencing its most challenging week of the year, largely influenced by these factors. The overall crypto market cap dropped briefly below the $2T mark on Friday.

Switzerland-Based PostFinance Starts Offering ADA 💼

• PostFinance is the financial arm of Swiss Post, i.e., the government-owned postal service of Switzerland, that offers banking products to citizens of Switzerland. It is fully government-owned and offers a Crypto Range service which allows users to invest in and trade crypto assets.
  

• On July 1, after offering only Bitcoin and Ethereum for quite some time, PostFinance announced that it was adding 5 new cryptocurrencies to this service for its clients, including Cardano ($ADA). Users of the platform will be able to hold and trade these assets through PostFinance, although PostFinance will keep custody of the assets for the customers.

Onboarding Indian Web3 Devs 👨‍💻👨‍💻

In other updates, NucastIO and CardanoSpot will host the first session of the Cardano hackathon in Chennai to onboard developers and blockchain enthusiasts to Cardano. The first IRL workshop will kick off on July 6. Join here!

Optim Finance Goes Live with OADA
Optim Finance, a Cardano-native DeFi protocol, successfully launched its staking stable token OADA on July 4. OADA is fully pegged to ADA and helps delegators win rewards through its staking swap to sOADA. Within its first day of inception, the ADA-OADA pair clocked 9 million in total value locked (TVL). Click here to read more!

Best content of the week

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 The pet of Cardano: Dog❌ Pig ✅

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