Cardano Lending platform launches $25,000 bounty

Updated: 12 September 2022

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The first NFT lending and borrowing platform on Cardano, Aada finance, has launched a bug bounty competition. The competition comes in preparation for the launching of its mainnet that is scheduled to come up on September 13. According to a post on its Twitter page, Aada finance will be gifting out $250,000 for the bounty program.

Interested community members will be tasked with finding protocol bugs. Aada finance believes that the program will help ensure the safety of users’ funds and protect the Cardano DeFi. Above all, the protocol thinks the initiative will bolster the prosperity of the Cardano ecosystem.

Also, Aada finance is working on inaugurating its Aada V1 after putting it up for public testnet use for months. The new version will aid users in lending and borrowing assets between themselves. The project is based on using unique NFT bond techniques to carry out the exchange. Aada Finance aims to initiate the new version becoming the Vasil upgrade that will come up on September 22. Therefore, there are strong indications that the Aada V1 will become available in the coming days.

Notable Side notes on recent developments about Cardano

Meanwhile, the founder of Cardano, Charles Hoskinson, has reflected on the upcoming Vasil upgrade. According to Hoskinson, the Vasil upgrade would encourage more dApps to use the Cardano ecosystem. It will also offer a good upgrade on existing dApps while encouraging solutions like Djed to be developed on Cardano.

The upgrade will improve Cardano’s scalability and transaction throughput through pipelining. On dApps, the upgrade will change the Plutus script and improve the features of dApps on the protocol.

Gradually, prominent crypto exchanges are embracing themselves for the upgrade. Exchanges like Binance, MEXC, AAX, WhiteBIT, and Bitrue, among others, are working on upgrading their nodes. Some others are either on the verge of updating their nodes or fully ready. Lately, Cardano has grown in popularity and strength in the crypto space due to its distinctive features. In one of its recent strides, ADA became listed on the popular brokerage firm Robinhood.

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