A DeFi protocol on Cardano blockchain which facilitates creation of fully collateralized stable coins leveraging Native Cardano Assets.

The AUSD stable coin is a soft-pegged cryptocurrency, decentralized, unbiased, collateral-backed, which can be stored in wallets or used on platforms.

ADAO Token
The ADAO token is the utility and governance token of the ADADAO ecosystem which rewards holders with profits from ADADAO and allows those who hold it to vote on changes to the project’s parameters

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ADADAO

Adadao, a decentralized stablecoin platform built on Cardano, is excited to announce the release of its first testnet version, which is now live at <a href="https://test.adadao.org/login">https://test.adadao.org/login</a>. This testnet provides users with the opportunity to test and provide feedback on the platform’s key features including-<ul><li>Stablecoin issuance ($AUSD).</li><li>Vault creation, activation and closure.</li><li>Collateral Deposit , lending and withdrawal.</li><li>Oracle functionality.</li><li>Liquidation functionality.</li><li>Deposit to Stability pool and rewards functionality.</li></ul>The feedback received during this testing phase will be used to improve the platform further before its mainnet launch.<h1 style="margin-left:0px;">How to Participate</h1>Although this testnet was originally designed for internal and exclusive testing purposes, we have decided to release it to the public at the request of our community. This will allow the community to gain insight into our development process and evaluate their experience with the Adadao protocol. We have already published a comprehensive user guide in a previous Medium article, which can be accessed <a href="https://adadao.medium.com/adadao-pre-production-testnet-v1-0-users-guide-and-documentation-9102e7dbe8ac">here</a>.To facilitate testing, we have created 20 PAB-based user accounts. We have provided a detailed list of users, their login credentials, associated Cardano wallets, passphrases, and other relevant information in a Google sheet, which is available below.Testnet website link — <a href="https://test.adadao.org/login">Website</a>.User login credentials — <a href="https://docs.google.com/spreadsheets/d/1S-v1tu5nRq_9TWVXBl479L-X_DZ9E3E_J53yi8INBb4/edit#gid=0">Link</a>.System script addresses — <a href="https://docs.google.com/spreadsheets/d/1S-v1tu5nRq_9TWVXBl479L-X_DZ9E3E_J53yi8INBb4/edit#gid=1635500000">Link.</a>Note- Your cooperation is crucial to the success of this testnet. If you encounter vault has already been created after log in using one of provided credentials, it means that another user is already working with that credential. In such cases, we kindly ask that you try another set of credentials that have not yet been associated with a vault.Additionally, we kindly request that, once you have completed your testing, you settle any debts and close the vault before logging out. This will ensure that other users can begin their testing with the same credentials, without the risk of overriding the work of previous users.<h1 style="margin-left:0px;">Adding test ADA</h1><img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*s9oX-HW_j7XfKU3lDGhuug.png" alt="" loading="lazy">If you come across this error while creating the vault, it indicates that you do not currently possess tAda (Test Ada) in your user wallet. In order to continue protocol testing, you will need to add test Ada to your wallet. The corresponding wallet address for each user can be found on the user credential sheet.You can get test Ada from <a href="https://docs.cardano.org/cardano-testnet/tools/faucet">Cardano testnet faucet</a>.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*XzdxOWAinboayDELFJIm4w.png" alt="" loading="lazy">Please make sure to select environment as Preprod Testnet and provide wallet address in address textbox.<h1 style="margin-left:0px;">Limitations of testnet</h1>It is essential to understand that this is the first version of the testnet, which has some limitations and shortcomings.<ul><li>very limited number of users due to the use of PAB and Cardano wallet. Running more PABs requires a high server usage, as PABs cause significant memory leaks. Due to the limited number of users, there may be multiple individuals testing the testnet with the same login and password, which could override previous executions.</li><li>Slow executions- you may observe transaction delays on the pre-production testnet. If you receive an error message such as “Cannot read properties of undefined,” it likely means that the blockchain has not yet seen the result of a previous transaction. In this case, please wait for a while and try again.</li><li>Unstable environment- The environment on the testnet is also unstable since PAB works erratically, resulting in memory leaks. We have configured regular automatic updates within a certain time period to mitigate this issue. If a transaction fails to go through the first time, wait a few minutes and try again. If the transaction still doesn’t go through after several attempts, please let us know, and we will restart the PAB manually.</li><li>Typos and weird error messages- During testing, you may come across typos and peculiar error messages. Please disregard these, as our focus has been primarily on making the code work. These are cosmetic changes and will not appear in the final release.</li></ul><h1 style="margin-left:0px;">What’s next?</h1>By the time we were developing the protocol , tools for working with light wallets on testnet were not available, and consequently, we utilized PAB and Cardano native wallet. However, a solution has since emerged on Cardano, which will enable us to remove PAB and Cardano wallet from the app, and instead, allow it to function with browser wallets such as Nami. Our next step is to launch testnet v2.0 with browser-based wallets, which will make the Dapp more scalable and user-friendly. We have already commenced work on this, and we will provide regular updates on this development in our weekly technical reports.We cordially invite users to join our testnet and contribute to the development of the future of Stablecoins.The Adadao team is committed to providing a secure and decentralized Stablecoin platform for users, and we eagerly anticipate your involvement in our testnet.<h1 style="margin-left:0px;">Feedback</h1>We highly value your input and would greatly appreciate your feedback. Please take a moment to share your thoughts and suggestions with us by clicking on this <a href="https://rmtm3sre175.typeform.com/to/HChCD4SG">link</a>. Thank you for taking the time to help us improve our product.<h1 style="margin-left:0px;">About ADADAO</h1>ADADAO ($ADAO) is a decentralized finance (DeFi) protocol on the Cardano blockchain that enables the creation of fully collateralized stablecoins, utilizing Native Cardano Assets. ADADAO operates as a Decentralized Autonomous Organization (DAO). The protocol features a unique design, incorporating the following key attributes:<ul><li>It is interest-free. Once the user pays a one-time fee for protocol usage, they may keep the loan as long as the collateral is maintained.</li><li>Liquidations are processed through the stability pool, a collection of AUSD stablecoins staked by users to facilitate liquidations at a fixed price. The penalty from liquidation is proportionally distributed to the stakers.</li></ul><h1 style="margin-left:0px;">What problems does ADADAO solve?</h1>To date, there are no on-chain collateralized stablecoins on the Cardano blockchain. Moreover, current protocols on other blockchains require users to pay high interest rates on borrowed assets, resulting in substantial risks in leveraging. The liquidation process is often unclear and involves an internal auction mechanism, which obligates protocols to initiate liquidation at a higher liquidation ratio to compensate for the uncertainty in realizable value. &nbsp;

Cardano Feed

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Adadao Pre-Prod Testnet v1.0 is Live

Adadao, a decentralized stablecoin platform, is proud to announce the release of its first version of testnet. Testnet will go live on Friday, 10th Feb 2023 15:00 UTC.This testnet will allow users to test the platform’s stablecoin issuance, deposit, withdrawal, liquidation, Stability pool and rewards functionality. It will also provide valuable feedback to the Adadao team to further improve the platform before its mainnet launch.<h2 style="margin-left:0px;">How to Participate</h2>Though this testnet was was initially created for internal and a very closed testing. But due to community request we are releasing this in public domain so that COMMUNITY can get their hands on what we have been developing and how their user experience would be with Adadao protocol.A detailed user’s guideline have already been released in our previous Medium article which can be viewed <a href="https://adadao.medium.com/adadao-pre-production-testnet-v1-0-users-guide-and-documentation-9102e7dbe8ac">here</a>.Testnet website link, user login credentials and system script addresses will be shared with the launch.<h2 style="margin-left:0px;">Limitations of testnet</h2>It is important to understand that this is a very first version of testnet and has its own limitations and short comings-<ul><li>Vey limited number of users- As this testnet is PAB based and uses Cardano wallet. Running more PABs requires high server usage besides PABs cause large memory leaks. Using PABs and Cardano wallet makes it quite difficult to raise number of users.</li><li>Also due to limited numbers of users you might experience multiple people testing the testnet with same login and password this might override your previous executions.</li><li>Slow executions- You might observe transactions delays on pre production testnet. SO, if you get the error like “Cannot read properties of undefined” this probably means that blockchain hasn’t seen the result of a previous transaction. Wait for a while and try again.</li><li>Unstable environment- Since PAB works really unstable, as there is kind of memory leak and due to this we have configured regular automatic updating within certain time period. If transaction doesn’t go through for the first time , wait a few minutes and try again. If after several attempts the transaction still doesn’t go through , please let us know and we will restart the PAB manually.</li><li>Typos and weird error messages- Our focus were mainly to make the code work. You might see error messages which are not relevant or some typos here and there. Please ignore it, these are cosmetic changes and you won’t see them in final release.</li></ul><h2 style="margin-left:0px;">What’s next?</h2>By the time we were developing the protocol , tools for working with light wallets on testnet were not available so we decided to work with PAB and Cardano native wallet. But now a solution has appeared on Cardano and it would allow us to remove PAB and Cardano wallet from the app and make it work with browser wallets like Nami etc. Our next step is to launch testnet v2.0 with browser based wallets and remove PAB. This will make the dapp more scalable and user friendly. We have already started working on this and we will be sharing updates regarding this development in our weekly technical reports.We encourage users to join our testnet and help us build the future of stablecoins.The Adadao team is dedicated to providing a secure and decentralized stablecoin platform for users and we look forward to your participation in our testnet.<h2 style="margin-left:0px;">About ADADAO</h2><a href="https://www.adadao.org/">ADADAO</a> ($ADAO) is a DeFi protocol on Cardano blockchain which facilitates creation of fully collateralized stable coins leveraging Native Cardano Assets. ADADAO functions as a DAO (Decentralized Autonomous Organization).The protocol has a unique design with the following salient features:<ol><li>It is interest free. There is a one time fee for use of the protocol and then the borrower can keep the loan as long as he wants , provided that he maintains the collateral.</li><li>Liquidations happen through the stability pool. It is a pool of AUSD stablecoins staked by users which facilitate the liquidations at a fixed price. The liquidation penalty realized during the process is distributed to the stakers proportionally.</li></ol><h2 style="margin-left:0px;">What problems does ADADAO solve?</h2>There is no working on chain collateralized stablecoin on Cardano yet. Even on other chains, current protocols incur high interest rates on assets borrowed from users making leveraging very risky. There is a vague liquidation process based on an internal auction mechanism which forces protocols to initiate liquidation at higher liquidation ratio in order to be able to compensate for the uncertainty in the realizable value.ADADAO Official SocialsTo find out more about the project and keep up with its latest developments, follow their official channels. &nbsp;

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ADADAO Pre-Production Testnet v1.0 Announcement

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ADADAO Pre-Production Testnet v1.0 User’s Guide and Documentation

<div>
<a href="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.15.53.png" data-caption=""><img width="527" height="286" src="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.15.53.png" srcset="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.15.53.png 527w, https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.15.53-300x163.png 300w" sizes=" 527px) 100vw, 527px" alt="" title="Screenshot 2022-09-02 10.15.53"></a>
<a href="https://bit.ly/cryptomode-AD1"><img src="https://cryptomode.com/wp-content/uploads/2022/09/Proleo.gif"></a>Asides from decentralized finance (DeFi), there are other use cases for blockchain technology. These use cases include DAOs, short for decentralized autonomous organizations.
DAOs allow users to borrow and lend money without centralized intermediaries.&nbsp;
They operate using stablecoins often tied to fiat currency to promote stability. The problem with dependable fiat currencies is they are tagged to a central authority, defeating the aim of decentralization. It is for this purpose that one of the best DAOs &ndash; <a href="https://adirize.com/">Adirize DAO (ADI)</a>, is on our list for this article.&nbsp;&nbsp;
<h2>Adirize DAO (ADI)&nbsp;</h2>
<a href="https://crypto.games/?i=cryptomode"><img src="https://cryptomode.com/wp-content/uploads/2022/09/468x60-1.gif"></a>Adirize DAO intends to answer the question- &ldquo;What if you could have a stablecoin that was less volatile than other cryptocurrencies and hence better suited to everyday transactions but didn&rsquo;t rely on any fiat currencies?&rdquo;
The vision of Adirize DAO (ADI) is for their token to become a stable currency to be utilized in daily transactions, meeting reasonable expectations of users without relying on a treasury of assets or other traditional pegs.&nbsp;
The need for ADI comes with the severity of cryptocurrencies in terms of volatility. However, stablecoins can be controlled, so they aren&rsquo;t reliable either. With free-floating reserve money backed by a basket of assets, ADI will retain its potential as a valuable purchasing power.&nbsp;
<a href="https://www.google.com/amp/s/www.newsbtc.com/press-releases/how-adirize-dao-litecoin-and-floki-inu-could-be-a-great-bear-market-opportunity/%3Famp">ADI</a> will act as an unpegged coin, with higher immunity to volatility than other cryptocurrencies in the market. Users will also vote, as the ADI token gives governance power to members.&nbsp;&nbsp;
<img src="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.02.png" alt="" width="527" height="341" srcset="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.02.png 527w, https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.02-300x194.png 300w" sizes=" 527px) 100vw, 527px">
<h2>How To Buy Adirize DAO (ADI)&nbsp;</h2>
Adirize DAO (ADI) has begun presale in earnest, and there are so many bonus offers for holders depending on the cryptocurrency they buy with. A purchase with Ethereum (ETH) or Bitcoin (BTC) gives you up to 12%, and slightly lower if you use Binance Coin (BNB).&nbsp;
You can buy ADI on the official website by clicking on the &ldquo;buy presale&rdquo; button. Create an account, connect your wallet, and you&rsquo;re ready.&nbsp;
<a href="https://join.adirize.com/register"><img loading="lazy" src="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.08.png" alt="" width="360" height="74" srcset="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.08.png 360w, https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.08-300x62.png 300w, https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.08-356x74.png 356w" sizes=" 360px) 100vw, 360px"></a>
<h2>Maker DAO (DAI)&nbsp;</h2>
The primary purpose of the Maker DAO (Dai) is to serve as a lending, borrowing, and saving platform for users to lend themselves money. This is done using the cryptocurrency, Dai, under the condition that the collateral used to borrow must be 150% of the total Dai coins collected.&nbsp;
The Maker DAO platform is built on the Ethereum (ETH) blockchain and, in true fashion of a DAO, allows holders to cast votes on proposals implemented in protocol maintenance. In return, the protocol- smart contracts- powers Dai.&nbsp;
As a stablecoin, Dai is pegged to the value of the United States dollar. The coin is backed by crypto assets and has a fixed value almost resistant to crypto market volatility.&nbsp;
<h2>Cardano (ADA) (ADAO)</h2>
Although Cardano (ADA) didn&rsquo;t start as a DAO blockchain, it has evolved into one of the world&rsquo;s largest DAOs.&nbsp;
The stablecoin protocol, ADADAO, is instrumental in facilitating the &ldquo;creation of fully collateralized stablecoins leveraging native Cardano assets.&rdquo; It uses an interest-free borrowing policy, with the operating stablecoin- ADAO&nbsp; backed by on-chain collateral.&nbsp;
Judging from the many benefits of the Cardano (ADA) blockchain, the stablecoin project has a solid foundation and much to offer through stability and rewards.&nbsp;
<img loading="lazy" src="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.15.png" alt="" width="530" height="168" srcset="https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.15.png 530w, https://cryptomode.com/wp-content/uploads/2022/09/Screenshot-2022-09-02-10.16.15-300x95.png 300w" sizes=" 530px) 100vw, 530px">
<h2>Conclusion&nbsp;</h2>
Adirize DAO&rsquo;s (ADI) plan might be the spark needed to bring adoption to cryptocurrency.&nbsp;
With unstable prices being at the top of the reasons why many individuals are not engaged, the provision of a decentralized reserve currency could serve as a game changer for the cryptosphere.&nbsp;
<hr>Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.&nbsp;
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None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments. </div>

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Adirize, Maker, and Cardano – Best DAO Cryptocurrencies To Buy

ADADAO ($ADADAO)

World's First Interest-Free Stablecoin Protocol built on Cardano blockchain.

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