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Cardano’s First NFT Lending Platform Announces $25,000 Prize Ahead of Mainnet Launch

Aada Finance, Cardano’s first NFT lending and borrowing protocol, is hosting a bug bounty contest ahead of its mainnet launch scheduled for September 13.

🎉 @AadaFinance has announced their $25,000 Bug Bounty Program.

🏆 Your contribution to find bugs would ensure the safety for the users’ fund and for prosperity of the Cardano DeFi as well as the whole ecosystem.

As stated in a blog post, the bounty size for a critical smart contract vulnerability is $25,000.

After months of public testnet use, Aada Finance, a platform for lending digital assets, is preparing to launch Aada V1, which will allow users to lend and borrow assets between each other using a proprietary token (NFT) bond technique.

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Ada Finance plans to launch it before the Vasil upgrade, which is expected to happen on September 22. In a recent tweet, Cardano founder Charles Hoskinson talked about the upcoming Vasil as something to enable new dApps to be launched.

“This is an example of the power of Vasil coming this month. New features significantly improve many different dApps and enable new dApps like Djed to be deployed on Cardano. This is just the beginning. EUTXO and Plutus are ongoing giveaways. gives,” he wrote.

According to the latest updates by IOG, 50% of the top 12 exchanges in terms of liquidity i.e. Binance, MEXC, Bitrue, AAX, WhiteBIT and BKEX have stated that Vasil is ready.

Cardano founder praises crypto communities’ loyalty

Cardano founder Charles Hoskinson was drawn to data recently shared by social intelligence platform LunarCrush, which states that social contributors to cryptocurrency have dropped 0.71% in the past six months, showing little or no growth in crypto market participants.

‘’This is actually an outstanding statistic. When you see a massive downturn in a marketplace, you’d typically see a double-digit decline in engagement and contribution. The fact that it holds stable means that the crypto communities overall are loyal and have a long-term mindset ‘’

At the time of publication, ADA was trading at $0.513, up 4.48%.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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