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Cardano SPO: MADinArt Stake Pool [MAD]

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This week’s guest in the Cardano SPO column is one of the very first NFT projects on Cardano : MADinArt . Their motto is “Make A Difference in Art” . They have recently set up their stake pool and will distribute NFTs to delegators: MADinArt Stake Pool [MAD] .

Last week’s guest was a stake pool managed by a Single Pool Operator involved in Cardano with several projects, including a Catalyst proposal and an NFT project .

This initiative is a reference point for everything Cardano related and every week or two we will invite a Stake Pool Operator (SPO) to answer a few questions and give us an update directly from within the Cardano community.

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Considering that many of our readers are new to the crypto space, we will have a mix of simple and technical questions.

Hi, it’s a pleasure to have you here. Please introduce yourself, where are you from and what is your background?

Hi, my name is Jay and I manage the MADinArt Stake Pool [MAD]. I’m based in Stratford-upon-Avon, England, but I’m originally from Wales, where most of the MADinArt team is from.

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I am an HPC Solution Architect and have been managing large scale Linux systems for about 15 years in various industries including military, academic and commercial. These core skills are highly transferable to the Cardano environment, as the stake pool nodes are all Linux / UNIX based.

There are already other blockchains that allow the creation of NFTs, why did you choose Cardano? And what led you to create a stake pool?

MADinArt was one of the first NFT projects on Cardano and they have made incredible progress. My goal was to join them and help them establish their stake pool focused primarily on rewarding their delegators with NFTs.

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The Cardano community is a great environment for help and support, which is why I believe it will go from good to better. While creating the stake pool I was able to learn from other Stake Pool Operators (SPOs) on different forums and platforms.

We share the same vision and ethos as Charles Hoskinson, we can implement change in a decentralized way, and we aim to bring this to the project as we move forward.

In addition to creating and selling your own NFTs, you are also becoming a place where artists and investors can meet. Can you tell us more about your vision and the NFT buying / selling process?

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Our goal is to make a difference in art by creating the ultimate meeting place between investors and creators. Having been artists in difficulty, we know how difficult it can be to be recognized. The NFT market is growing at an exponential rate with a thriving and talented community accompanying it.

Our mission is to enable all artists from all industries to convert their assets into NFT, and finally get paid for the amazing creative contributions they bring to all of our lives. Just consider how many wonderfully creative artists there are on every continent of the world. We will give them an exhibition space like never seen before.

To become an artist on our platform you need to submit an application through the website, if successful you will receive an invitation to our MAD Academy. After completing the MAD Academy the artist will be able to do his first DROP on the platform. Our Academy provides all the tools you need to ensure drop success and become a verified artist.

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Buying NFTs via our website is extremely simple. Just choose the NFT you want to buy, click Buy Now and follow the instructions to pay with ADA. For more information on purchasing NFTs, check out the FAQs on our website .

There is currently a competition on your site called Africa University Competition , can you give us more details? And why did you choose this continent?

MADinArt offers the opportunity to participate in our art competition which will be open to all officially registered universities in Africa.

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We want to offer each participating university the opportunity to win up to $ 10,000 in prize money which will be shared between the artists and their art department.

We are a new platform with the powerful mission of “Making a Difference” for artists around the world.

We help artists convert their physical pieces into fully digital NFTs (Non Fungible tokens) and mine them on the Cardano blockchain.

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We want all participating universities to present what they believe to be the best works of art by 3 different students. This can be any form or medium of art, but delivered to us as a digital file, the possibilities are endless.

The final works will be minted on the blockchain and sold on our platform. Our goal is to give young artists a showcase for the world and we can’t wait to help identify some of the rising stars of Africa’s future.

The Cardano Africa (Input Output) project will develop digital identity solutions on the Cardano blockchain. The idea is to start by giving primary, secondary and university students a digital identity that can track their educational, professional and future progress. MADinArt wants to contribute to the Cardano community that is emerging in Africa.

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Thank you for your time. Anything to add? Where can people find you?

If you are considering delegating your ADAs, this is a great time to join MADFAM as we will distribute an exclusive NFT to all delegators when we validate our first block. Also, every month we will organize a lottery with a chance to win an NFT from the previous drop month.

Thank you so much for this interview and for helping us spread our vision to the community. If anyone would like to get in touch, they can find us on the following platforms:

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Cardano Price Prediction: ADA poised to break out to $5

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  • Cardano price was rejected from moving higher against a fundamental Fibonacci retracement level (38.2%).
  • Bulls push higher during the Friday trade session despite solid selling on Thursday.
  • Technical analysis levels remain overwhelmingly bearish, but sellers are unable or unwilling to capitalize.

Cardano price has officially entered a whole month’s worth of increasingly constricted trading ranges. Neither buyers nor sellers have been able to throw any conviction in a single direction. Ichimoku Kinko Hyo levels show Cardano has a clear bearish bias.

Cardano price awaits bullish breakout despite the bearish setup

Cardano price action is a kind of an enigma with regards to the Ichimoku Kinko Hyo system. When an instrument has moved to a position that places it below Senkou Span A, Senkou Span B, the Kijun-Sen and Tenkan-Sen, that instrument often sells off. It will almost always drop within two to three periods if it doesn’t sell off right away. Cardano, however, has not done this.

Cardano is approaching a milestone of having seven consecutive daily closes below the Cloud. Because of the length of time in these bearish Ichimoku conditions and because of any strong push by sellers, Cardano is likely coiled for a bullish breakout. Over the next four days, the bottom of the Cloud rises and becomes thinner until the Kumo Twist on October 27th. Bulls eye any close at or above $1.36 to confirm the beginning of a probable bullish expansion phase.

ADA/USDT Daily Ichimoku Chart

However, Cardano has a technical bearish bias within the Ichimoku Kinko Hyo system, so it is more susceptible to downside pressure than upside potential. Considering there are a large number of Ichimoku levels that Cardano must breakout above to resume a bull market, the current weakness may be enough to cause the bears to step in over the weekend and pounce on Cardano to drive it lower. Failure to hold $1.90 as a support level will likely mean a return to the $1.70 value area.

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  • Cardano price was rejected from moving higher against a fundamental Fibonacci retracement level (38.2%).
  • Bulls push higher during the Friday trade session despite solid selling on Thursday.
  • Technical analysis levels remain overwhelmingly bearish, but sellers are unable or unwilling to capitalize.

Cardano price has officially entered a whole month’s worth of increasingly constricted trading ranges. Neither buyers nor sellers have been able to throw any conviction in a single direction. Ichimoku Kinko Hyo levels show Cardano has a clear bearish bias.

Cardano price awaits bullish breakout despite the bearish setup

Cardano price action is a kind of an enigma with regards to the Ichimoku Kinko Hyo system. When an instrument has moved to a position that places it below Senkou Span A, Senkou Span B, the Kijun-Sen and Tenkan-Sen, that instrument often sells off. It will almost always drop within two to three periods if it doesn’t sell off right away. Cardano, however, has not done this.

Cardano is approaching a milestone of having seven consecutive daily closes below the Cloud. Because of the length of time in these bearish Ichimoku conditions and because of any strong push by sellers, Cardano is likely coiled for a bullish breakout. Over the next four days, the bottom of the Cloud rises and becomes thinner until the Kumo Twist on October 27th. Bulls eye any close at or above $1.36 to confirm the beginning of a probable bullish expansion phase.

ADA/USDT Daily Ichimoku Chart

However, Cardano has a technical bearish bias within the Ichimoku Kinko Hyo system, so it is more susceptible to downside pressure than upside potential. Considering there are a large number of Ichimoku levels that Cardano must breakout above to resume a bull market, the current weakness may be enough to cause the bears to step in over the weekend and pounce on Cardano to drive it lower. Failure to hold $1.90 as a support level will likely mean a return to the $1.70 value area.

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What’s In-Store For Cardano, Ethereum, MATIC, and 4 More Altcoins

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The cryptocurrency market traded with mixed results as the market leaders Bitcoin and Ethereum retraced, leading to a loss of 3.45 and 1.18 percent, respectively. Meanwhile, Solana is among the top performers.

Austin Arnold, the host of Altcoin Daily, believes that six big altcoins are poised for massive rallies in the coming year. 

Polygon (MATIC)

As per the YouTuber Ethereum layer-2 (L2) scaling solution Polygon (MATIC) is gaining traction following a deal with the $20 billion gaming giant DraftKings.

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Arnold quotes Paul Liberman, DraftKings’ head of global product and technology, who explains how the company is positioned itself to develop alongside Polygon in a statement. 

“Although The DraftKings Marketplace Is In Its Infancy, We Are Optimistic About The Opportunities That Blockchain, NFTs, Cryptocurrency, And Other Technologies Will Present As We Prepare For Web 3.0 With Polygon And The New Digital Collectibles Breakthroughs Ahead.”

Polkadot 

Arnold then examines Polkadot, a decentralised interoperability platform (DOT). He cites a recent tweet from Polkadot founder Gavin Wood, who stated that the DOT treasury currently has slightly under 19 million DOT tokens to sponsor community projects. 

Any DOT that is not used is burnt. According to Gavin Wood, the Polkadot treasury is now burning 239,988 tokens every month.

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The DOT token is becoming increasingly rare when it is burned or used. The price of DOT has just increased. This could be tied to impending interesting developments, like the upcoming parachain launch and slot auctions, which will also remove DOT from the market. 

With the first 11 parachain auctions coming to Polkadot next month, as well as the 100 or so available spots to be filled, Polkadot’s influence in the crypto sector might be boosted, and the multichain system’s rising status could be cemented.

Vechain

The supply chain management protocol VeChain is the third coin Arnold examines (VET). VeChain has announced a cooperation with large logistics business DHL for enterprise NFT (non-fungible token) issuance, according to the trader. 

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“One Of The First Things Users Will Be Able To Do With This Collaboration With DHL China Is Designed The DHL Mascot And Then Mint It As NFTs On The VeChainThor Blockchain Technology.” 

Cardano

The smart-contract platform comes next. Cardano appears to be gaining pace, according to Arnold, after establishing partnerships with television satellite provider DISH and announcing a $100 million investment in Cardano-related projects in Africa.

Simply Put, There Are So Many People In More Developing Areas Of The World That Don’t Have Financial Stability, And That Can Be Changed With Cardano With Blockchain.”

Chainlink

Chainlink, a decentralized oracle network, is another coin on Arnold’s list (LINK). Despite the token’s poor performance in recent months, he feels there is still significant upside for LINK in the market, as partnerships continue to grow month over month, with 84 integrations in September alone. 

“I Understand, But Chainlink, In My Opinion, Still Has A Lot Of Room To Expand.” Consider This: Chainlink Already Has A Slew Of Exclusive, High-Profile Collaborations – Google And Oracle, To Name A Few – And Its Technology Is Used By Over 75 Distinct Blockchains, As Well As Several Data Feeds, Including USD [US Dollar] Currency Pairs.

My Speculation Is This: Over These Next Few Years, As DApp [Decentralized Application] Platforms Like Ethereum [ETH], Cardano, Solana [SOL], Polkadot, Elrond [EGLD], Etc. Continue To Fight For Market Share… Chainlink Is Integrating With All Of Them… Something To Think About.”

Ethereum

Finally, the crypto trader believes that Ethereum, the premier smart contract platform, is poised for a massive 2022. He points out that Ethereum developers announced in May-June 2022 that ETH will move to Ethereum 2.0, which will convert the blockchain to a proof-of-stake system. 

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“Around February 2022, The Code Should Be Ready.” At The Earliest, The Merge To Mainnet, To ETH 2.0, Will Take Place In June 2022. The Year Of ETH Will Be Celebrated Next Year. That’s Where DeFi And NFTs (Networked Financial Technologies) Reside.”

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Cardano-based ADALend Pioneers “Green Blockchain” Practices in DeFi

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Here’s how ADALend, one of the first DeFis on Cardano, is implementing eco-friendly practices in decentralized segment.

ADALend is a multi-purpose decentralized finance protocol on the largest proof-of-stake (PoS) network, Cardano (ADA). Its team stresses its commitment to the values of “green blockchain.”

ADALend and “green blockchain”

ADALend promotes itself as a decentralized finance protocol governed by its community through DAO (decentralized autonomous organization). ADALend offers its users a wide range of services that are set to replace classic banking tools, such as lending/borrowing, asset collateralization, flash loans and so on.

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ADALend is going to accomplish all the milestones of its ambitious roadmap in an eco-friendly manner. Its representatives are certain that all mainstream blockchains of the future will be carbon-neutral. Their consensuses will work to consume a negligible amount of electricity for node synchronization and block creation.

Therefore, ADALend chose Cardano (ADA) as the technical framework for its development. Cardano (ADA), with its proof-of-stake (PoS) system, consumes 1.6 million times less energy than Bitcoin (BTC) does. Moreover, it is much more resource-efficient than its competitors in the PoS segment.

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Recently, Cardano (ADA) inked a long-term strategic partnership with the Veritree community. With this collaboration, Cardano (ADA) will support “The First Global Cardano Impact Challenge,” a world-level initiative focused on investing money into replanting trees across the globe.

ADALend and security of Cardano (ADA)

ADALend’s team is also laser-focused on improving its security. As such, Cardano (ADA), with its codebase written in Haskell, is a natural solution: all products on Cardano (ADA) can be easily audited.

Thus, Cardano (ADA) offers a proactive layer of security for all of its decentralized applications (dApps), including ADALend.

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Right now, ADALend is going through a private sale funding round for its ADAL token. As covered by U.Today, its seed funding round was oversubscribed.

On Sept. 9, 2021, ADALend raised a total of $540,000 from a clutch of high-profile VC funds and angel investors.

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