- Introducing Pool Manager NFT with Aada V.2 for delegating locked ADA and registering new stake pool.
- Cardano’s transaction volume surges, with over 65.4 million transactions processed in the past week.
Aada Finance Announces Pool Manager NFT
Exciting news has been shared by Aada Finance for Cardano enthusiasts. With the release of Aada V.2, a Pool Manager Non-Fungible Token (NFT) will be introduced. The holder of this NFT will have the ability to:
- Delegate locked ADA (supply or collateral) to any pool
- Register a new stake pool
This innovative feature brings a new financial instrument to users, who can transfer, sell, or stake the NFT on DeFi platforms.
🚀 Exciting news for #Cardano enthusiasts.
With Aada V.2 we are introducing a Pool Manager NFT where it's holder will be able to:
– Delegate locked ADA (supply or collateral) to any pool
– Register new stake pool
— Aada (@AadaFinance) May 3, 2023
Cardano’s Transaction Volume and Network Growth
Cardano’s transaction volume has seen a significant surge, reaching new highs not previously recorded. This uptick in activity has occurred alongside an increase in the total number of active wallets on the Cardano network.
Input Output Global, the organization responsible for Cardano’s growth, reports that the network processed 65.4 million transactions in the past seven days. The network has also seen a massive inflow of new wallets, bringing the total number of wallets to over 4 million as of March 2023.
Despite the recent volatility of ADA, transaction volumes and network growth remain promising. The current trend has been linked to increased whale activity on the network, with the accumulation of coins in whale addresses pointing to a growth in confidence among larger players. Such activity often leads to bull runs, and Cardano’s futures market is also showing bullish signs with increased transactions recorded on the network.
ADA Price Movement and the Future of Cardano’s Development
Although ADA’s price plunged below the $0.4 mark in May, trading at $0.38, its future development looks strong. The network is rolling out new upgrades in preparation for the much-anticipated Voltaire era, the final phase of Cardano’s evolution. This phase aims to create a completely decentralized decision-making platform through developments such as the Conway Ledger and CIP-1694.
CIP-1694 improves the network’s governance, making it more decentralized and allowing any user to submit governance actions. These actions will go through three groups: The Constitutional Committee, Delegation of Representatives, and Stake Pool Operators. Additionally, the Ledger Team has introduced new technologies, including Plutus v3, with Haskell Code and API receiving new updates as well.