Concentrating Liquidity and Enhancing Trading Prices

Binance stated that the delisting of these tokens resulted from a periodic review aimed at concentrating liquidity, reducing slippage, and providing users with improved transaction prices. By streamlining the available assets in the Liquid Swap liquidity pool, Binance seeks to optimize trading conditions for its users.

Trading Pairs Set for Delisting

The following tokens are scheduled to be delisted from Binance Liquid Swap: BUSD/BNB, BUSD/BTC, BUSD/ADA, BUSD/ETH, BUSD/LTC, BUSD/SHIB, BUSD/MATIC, BUSD/SOL, BUSD/UNI, BUSD/LINK, BUSD/DOGE, BUSD/DAI, and BUSD/USDT.

It is important to note that the removal of these tokens from Liquid Swap will not affect their trading availability on Binance Spot. Users can still engage in the buying, selling, and holding of these assets on Binance’s Spot trading platform.

Market Impact and Potential Volatility

The exclusion of SHIB, BTC, ETH, and other popular cryptocurrencies from Binance Liquid Swap is expected to have a significant impact on the market. SHIB, in particular, being one of the most popular meme coins with a large and active community, could witness notable fluctuations.

Additionally, Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization, may experience increased volatility due to reduced liquidity on Binance Liquid Swap.

Impact on Users and Withdrawal Procedure

Users currently holding positions in the affected liquidity pools will automatically receive their assets in their spot wallets on October 27, 2023. In case users wish to withdraw their positions before the specified date, they have the flexibility to do so at any time. Moreover, as of October 23, 2023, new liquidity cannot be added for any of the 17 affected pairs.

The delisting of these 17 tokens from Binance Liquid Swap represents a significant move by the world’s leading cryptocurrency exchange. While it is expected to have a notable impact on the market, specifically for SHIB, BTC, and ETH, the change is unlikely to have a major influence on the overall trading experience on the platform.

Users who currently hold positions in the affected liquidity pools are advised to take note of the upcoming delisting and consider taking appropriate actions aligned with their trading strategies.

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Cardano Testnet Successfully Hardforked

The Input Output Global (IOG) developers team, the body concerned with the growth and development of the Cardano blockchain, has confirmed the successful Vasil upgrade on the Cardano testnet. The testnet Vasil hard fork was carried out on June 3 as revealed by the IOG team.

Developers building on the Cardano blockchain, crypto exchanges, and Stake Pool Operators (SPOs) are enjoined by the Input Output team to initiate their final testing and integration processes.

According to the IOG team, “Vasil is a complex program of work.” This intricate nature of the Vasil upgrade program implies that projects on Cardano will need sufficient time to check backward compatibility. Similarly, SPOs will need to make some scripting adjustments without having to rush.

Putting all these into consideration, an estimated four weeks has been set out for Stake Pool Operators, developers, and exchanges to initiate the final testing and integration processes before the Vasil hard fork is activated on Cardano Mainnet.

While the testing by exchanges, developers, and SPOs take place, the announcement noted that “the teams at Cardano Foundation and IOG will be working closely with exchanges and DApp/tool developers throughout the process.”

Accordingly, the IOG team will submit a proposal to implement the Vasil upgrade on the Cardano mainnet. This will happen only when there is confirmation that ecosystem partners are comfortable and ready.

Related: Cardano Rolls Out Final Node In Preparation For Mainnet Vasil Upgrade

Why the Vasil Hard fork?

Recall that this upgrade on the Cardano blockchain is named after a longstanding community member, Vasil St Dabov.

The Vasil upgrade, which is said to be the most ambitious program of work undertaken by the IOG team, is aimed at enhancing the performance and capability of Cardano.

Equally, the IOG team said, “Vasil improvements include higher throughput through diffusion pipelining to a better developer experience via much-improved script performance & efficiency (plus lower costs).”

In addition, it is also said that the Vasil upgrade will include Cardano cryptographic primitive improvements such as a tuned Plutus interpreter and a new cost model. In turn, this will enable greater interoperability options for other blockchains, the IOG team revealed.

On the whole, Vasil upgrade on the Cardano mainnet is around the corner although no specific date has been determined. To note, this successful testnet hard fork comes a few days after the IOG team launched Cardano node 1.35.0. This node was said to be the final candidate for the much-awaited Cardano mainnet Vasil hard fork to be implemented.

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We Are On Twitter: Follow Us

New Wallet Release 2.2.0

Multi Address Transaction Support

Now send ADA/Tokens to multiple recipients in a single transaction, and also include metadata! AND save your previous ADA in fees!#Cardano $ADA @cardano @cardano_whale pic.twitter.com/lZto301h8a

— Typhon Wallet (@TyphonWallet) June 27, 2022

Typhon Wallet Now Supports Multi Recipients Transfers

Conventionally, crypto users can only send coins/ tokens to one wallet address per transaction. Assuming you want to send crypto to seven of your friends, you will have to initiate seven transfer operations. 

While this could be a bit stressful, you also incur charges because with every transfer comes accompanying transaction fees. However, transaction fees vary depending on the blockchain network used to carry out the operation.

Read Also: Cardano Rolls Out Final Node In Preparation For Mainnet Vasil Upgrade

The Typhon Wallet new version 2.2.0 release changes everything. With this latest upgrade on the Cardano wallet, users can now transfer ADA and other supported cryptos to more than one address in one go.

Notably, the operation does not charge a single fee. According to Typhon Wallet, it charges “just a pinch more than a single fee,” claiming that it is hugely less than performing two or more separate transactions.

Just a pinch more than a single fee, but HUGELY less than doing 2 separate transactions. Git a shot and see the difference, you will be surprised

— Typhon Wallet (@TyphonWallet) June 27, 2022

Ultimately, this development enables users to save previous ADA in fees while also giving room for the addition of metadata, per the announcement.

Discovering Typhon Wallet

The Typhon wallet is said to be a fast, secure as well as feature-rich web and extension Cardano wallet. Typhon is fully compatible with other Cardano wallets like Daedalus.

With the wallet, users can transfer native tokens, and other metadata registered tokens.  Also, users can stake ADA, and transact ADA securely using Ledger Nano S/X and/or Trezor T.

More so, the wallet allows users to send, receive and also view Cardano-based non-fungible tokens or CNFTs.

In addition, users can store ADA in totally different wallet accounts without managing multiple seed phrases. Notably, the Typhon wallet supports 12, 15, and 24-word seed phrases.

Read Also: New Version of Cardano Daedalus Wallet Comes With Great Features and Improvements

More Wallet Solutions by Cardano

The Input Output Global (IOG), which is the driving force behind the decentralized and smart contract platform, Cardano, is currently developing the Lace wallet. According to the team, the Lace wallet will be launched this summer. 

The upcoming Lace Wallet will be a Cardano-powered application that will serve as a doorway to web3. Interestingly, with this lightweight Cardano crypto wallet, peer-to-peer (P2P) engagement among users will be possible. In addition, users will be able to transfer assets with zero reliance on any third party.

Meanwhile, Cardano is set to implement the much-awaited Vasil upgrade that aims at boosting its blockchain’s functionalities and capabilities.

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The post Upgraded Cardano Typhon Wallet Allows You To Send ADA To Multiple Recipients in One Transaction appeared first on Times Tabloid.

In recent months, the leading PoS blockchain project attained notable milestones, which contradicts the claims that Cardano is a ghost chain.

Read Also: Charles Hoskinson: JPMorgan Does Not Own Any Critical Cardano Infrastructure

Over 500 Projects Are Building On Cardano

According to a LinkedIn post by Tim Harrison, the Marketing and Communications Director at Input Output Global, as of 11th March, a total of 517 projects are being built on the Cardano blockchain.

As shared by Harrison, these projects include non-fungible tokens (NFTs) collections, decentralized finance (DeFi) lending, and new wallets.

Tim Harrison wrote:

“The Cardano ecosystem continues to grow, with now over 500 projects building on Cardano – from NFT collections to DeFi lending and new wallets. Props to all the IOG team that continues to drive the platform forward. It has been a remarkable journey to get to here. And kudos to the innovative, passionate community of builders that has brought this project so far. We’re really just getting started, you know.”

As shown in the chart shared by Harrison, NFT collections account for the largest share of the projects building on Cardano with 34.7%, followed by decentralized exchanges (DEXs) with 6.2%.

Read Also: CryptoCompare: Cardano Long-Term Holders Grow 32%, Indicating Increase in ADA Accumulation

Recall that Times Tabloid earlier reported that the number of NFTs minted on the Cardano blockchain has surpassed the 800,000 mark, Harrison’s recent report seemingly serving as proof of the significant height.

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As a report has it, over 800,000 non-fungible tokens (NFTs) have been minted using NFT MAKER (NMKR), the first-ever Cardano-powered ‘Mint-on-Demand’ tool.

Read Also: Charles Hoskinson: JPMorgan Does Not Own Any Critical Cardano Infrastructure

The new development was announced on 6th March via NFT MAKER’s official Twitter handle.

NFT MAKER tweeted, “Over 800 000 NFTs have been minted using nft-maker.io/.”

Over 800 000 #NFTs have been minted using https://t.co/MAZ1ocF75R pic.twitter.com/MJaZlOy1Qb

— NFT-MAKER – $NMKR – Whitepaper out now! (@nftmakerio) March 6, 2022

NFT MAKER’s Progress on Cardano Blockchain

One of the major crypto projects that are leveraging the platform to mint their NFTs is CardanoPeakz, with digital collectibles that represent mountain tops such as Mt. Everest, Nanga Parbat, and Denali.

NFT MAKER was launched as a means to reduce the entry barrier to NFTs for end-users, artists, and brands. It has managed to create a whole set of onboarding, minting, and secondary market selling tools that users can deploy with no coding knowledge.

Over 60 Decentralized Finance (DeFi) Set To Launch on Cardano

According to the data provided by BuiltOnCardano, the number of projects, especially decentralized finance (DeFI), which are launching on Cardano blockchain, experienced a notable increase.

Data from BuiltOnCardano reveal that there are 61 DeFi projects, including 26 decentralized exchanges (DEXs), which are being built on Cardano at the moment.

Read Also: Cardano Is Number 3 Most Mentioned Crypto on Reddit; ADA Triples ETH in Transaction Volume

Some of the decentralized exchanges that are under construction on Cardano include ADA Finance, Ray Network, Occam.Fi, YaySwap, Cardax, Matrixswap, and Meowswap.

While a total of 26 decentralized exchanges are still building to officially go live on the Cardano network, it’s worthy of note that 6 DEXs had initially launched on the blockchain.

SundaeSwap became the first-ever decentralized exchange to fully launch on Cardano following the activation of smart contracts functionality on the network.

Although the DEX encountered slight issues in the early hours of its launch, the bug was swiftly resolved.

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