Aada Finance, Cardano’s first NFT lending platform announces a $25,000 bounty ahead of mainnet launch

September 14, 2022

By Sharan Kaur Phillora

Ada Finance, the first NFT lending and borrowing platform on Cardano, has launched a bug bounty contest. The competition comes in preparation for the launch of its mainnet coming September 13. According to a post on its Twitter page, Ada Finance will donate $250,000 to the bounty program.

Here’s what we know:

After months of public testnet usage, Crypto asset lending platform Aada Finance is now ready to launch Aada V1, enabling users to lend and borrow assets to each other using a special non-fungible token (NFT) bond technology.

Aada Finance intends to launch ahead of the Vasil upgrade expected to take place on September 22. In a recent tweet, Cardano founder Charles Hoskinson talked about the upcoming Vasil launch that will enable new dApps to launch.

“That is an instance of the facility of Vasil that is coming this month. The brand new options dramatically enhance many alternative dApps and allow new dApps like Djed to be deployed on Cardano. That is only the start. EUTXO and Plutus are the presents that carry on giving,” he wrote.

Recent updates from IOG, Binance, MEXC, Bitrue, AAX, WhiteBIT, and BKEX, which make up 50% of the top 12 exchanges by liquidity, have signaled Vasil ready. Updates to the nodes are being made by Coinbase and the other three top-12 exchanges.

While other exchanges are currently updating their nodes, ten additional exchanges have confirmed that they are ready for Vasil. While others are still “in testing,” nearly 50% of the top Cardano dApps hold the “tested” designation in preproduction.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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