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Cardano Ecosystem

Cexplorer

03/06/2024

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What is the Butane Protocol?

The Butane Protocol has made waves in the community. The team raised nearly 50 million ADA in the public sale of BTN tokens.

What is the Butane Protocol?

The Butane Protocol has made waves in the community. The team raised nearly 50 million ADA in the public sale of BTN tokens. 

As pointed out by Charles Hoskinson, this impressive feat surpasses the amount Ethereum garnered during its ICO. Now, let's delve into the team's ambitious plans for this project. What is Butane? Butane is a synthetic protocol that allows users to create synthetic assets. 

These are financial instruments that simulate other instruments without the need for physical ownership. Synthetic assets are tokens that mimic the value of another cryptocurrency, or any other real-world asset, without requiring actual ownership. 

For example, a synthetic version of Bitcoin on the Cardano blockchain would mimic the price of an actual BTC, allowing you to benefit from Read article: What is the Butane Protocol?

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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