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- USDA is Back, Node 9.0.0 and Fund12
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 ecosystem has welcomed the new Node 9.0.0 and officially entered the on-chain governance this week. Meanwhile, the much-awaited Cardano stablecoin, USDA, has returned under the new ownership. In other updates, Catalyst Fund12 ended on June 11, and nearly 7,000 voters cast 292,447 votes for 1208 Catalyst proposals. Cardano Codex is all set to host its next hackathon session in Hyderabad this Saturday. Let’s deep dive into these developments:
USDA Gets New Owner
New Owner, Legacy Tech Provider 💙
EMURGO announced that the Anzens USDA stablecoin will launch under licensed on-ramp and off-ramp provider Encryptus, with the EMURGO team continuing to support the upcoming launch as a technology provider.
USDA is a soon-to-be-launched, fully-backed, Cardano-native, USD stablecoin. It is issued by Anzens in collaboration with the institutional-grade trading desk Encryptus. Through this new ownership partnership for USDA, users in over 80 countries will have access to an offramp for the Cardano-based stablecoin.
Cardano DeFi and The Impact of a New Stablecoin
USDA will be the fourth stablecoin to hit the Cardano ecosystem, following iUSD, Djed, and USDM. Anzens and EMURGO have partnered with a high-profile, highly trusted, and well-connected partner, who has a focus on providing institutional users with clarity and certainty when it comes to on-chain transactions.
This release, therefore, opens up Cardano to a new and exciting audience and has the potential to drive DeFi activity as these types of investors gain access to Cardano’s ecosystem for the first time. Read more here!
Node 9.0.0: Chang Hard Fork is Here
Cardano’s on-chain governance has arrived 🏛️
The Cardano blockchain is on the precipice of a significant transformation with the impending Chang hard fork. This upgrade promises to usher in a new era of functionality and community empowerment.
Let's explore the intricate role Node 9.0.0 plays in this pivotal moment for Cardano. Key Features of Cardano Node 9.0.0: - On-chain Governance (CIP-1694): Empowering the Cardano community, this update enables on-chain voting, allowing ADA holders to influence the network's future through proposals and amendments directly.
Plutus v1 Reference Scripts: Developers can now leverage Plutus v1 reference scripts, a standardized set of code snippets for building smart contracts on Cardano. This simplifies development and ensures code compatibility.
Plutus Script Signature Support (CIP-69): This feature enhances security by allowing Plutus scripts to be signed, verifying their authenticity and origin.
In another governance update, Intersect announced a 10-member Constitutional member-body Council on June 10. This council will join already elected 6 interim Constitutional Committee members- representing 1 vote of 7 on the ICC. Click here to read more about these members!
Wrap-Up: Catalyst Fund12 Voting
Fund12 receives 292,447 votes 🗳️
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. Here are some stats from the Fund12 voting:
Visual representation of Fund12 voting
Cardano Partners and Real World Category Tops the Chart
Project Catalyst Fund 12 results will be announced in the upcoming week. To stay updated follow Catalyst on X!
Continues: Nucast Onboards Indian Web3 Devs 👨💻👨💻
In other updates, NucastIO and CardanoSpot will host the second session of the Cardano hackathon in Hyderabad, seeing extraordinary interest from Indian Web3 developers (Over 350 registrations recorded at the time of writing). Register here!
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