Cardano Concensus – USDC DEPEG, DJED Collateral TANKS & Multichain Narrative Coming To Cardano! | CoinMarketBag

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Cardano – ADA Multichain – MULTI USD Coin – USDC Cardano Concensus – USDC DEPEG, DJED Collateral TANKS & Multichain Narrative Coming to Cardano! Foreign what is going on cardano community I hope you guys are having a wonderful weekend welcome back to the DAP Central YouTube channel where I’m joined by Josh from late…

Cardano – ADA Multichain – MULTI USD Coin – USDC Cardano Concensus – USDC DEPEG, DJED Collateral TANKS & Multichain Narrative Coming to Cardano! Foreign what is going on cardano community I hope you guys are having a wonderful weekend welcome back to the DAP Central YouTube channel where I’m joined by Josh from late game crypto for another episode of cardano consensus if it’s your guys’s first time stopping by the Channel this is going to be a monthly Series in which I’ll be hosting Josh here on the channel in which we’ll be talking about all of the latest and greatest developments going on within the cardano ecosystem happy Saturday how are you doing Josh I’m doing fantastic I I look forward to These uh these collabs that we do once a month and it’s a it’s nice to connect with like-minded people likewise I agree and um I recently had a interview with Jay crypto or jspeak and subcritical and that was one of the things that we briefly touched on was just having more content creator Collaboration so I’m really gonna try to do my best here to just kind of up that throughout the entire ecosystem again I do appreciate you coming on here and doing this with me monthly now if it’s you guys first time seeing Josh go ahead and check out his channel it’s going to Be the late game crypto Channel hosted by him in which he talks about all the latest and greatest when it comes to cardano defy and nfts that said let’s quickly touch on some of the topics that we’re going to be discussing as a part of today’s video so The first topics is going to be one that’s probably on a lot of people’s minds right now which is the recent dpeg of usdc which is supposed to be packed to the US dollar which has occurred over the course of the last 24 hours now as a Part of the story we’re going to be touching on the fact that coinbase has now paused their usdc transfers I believe that that they said that they should be turning these back on on this coming Monday and then on top of that there’s now more than 3.3 billion in Cash reserves stuck in the Silicon Valley Bank which has just collapsed now after that we’re going to talk a little bit about how this could be impacting jet which is now at a collateral ratio of 410 which is the lowest that it’s ever been since it’s come on the cardano network Now into the second topic for today we’re going to be talking about cnft liquidity and how it seems that we are now hitting some new lows when it comes to trading volume in the cardano nft market that said in something that’s actually quite interesting is the fact That we now have defy right within cardano hitting an all-time high when it comes to tvl so it seems like people might be rotating out of nfts and moving over into defy as that begins to kind of mature within our space the third topic we’re going to talk talk about for today Is going to be the growing multi-chain narrative and if you guys are not aware we recently saw a genius X announce a partnership or integration of the polygon ormatic Network as well as World mobile meld IMX book.io and paribus all making announcements surrounding multi-chain adoption after that we’re Going to do a brief project Spotlight in which we’ll be talking about the knights Guild in cornucopias the Google’s nft mint and the highly anticipated citizens of the Apes Society nft mint following that we will be interviewing subcritical who’s going to be a pretty well-known person throughout the Twitter space and We’re going to be having him on here to talk about his recently started YouTube channel and exactly what he plans on contributing to the growing cardano ecosystem so make sure to stay tuned and make sure to check out that interview there at the very end highlighting up and coming cardano content creators That said Josh are you ready to talk about the first topic which is going to be the usdcd peg oh I’m ready let’s do it all right so let me go ahead and quickly share my screen here we’re going to jump into our first coin desk article highlighting the fact that coinbase has Now paused conversions between usdc and their US dollar so I’m not going to be able to read this entire article here for you guys but I’ve got a few sections highlighted starting with the very first few sentences so it reads here coinbase hit the bricks on conversions between Usdc stablecoin and the US dollar late Friday night as Fallout from Silicon Valley Banks or SV sivbs collapse spread into the heart of crypto Trading moving down a little bit further it reads the Paul speaks to the chaos that ruled the crypto industry’s second largest stable coin in the wake of Silicon Valley Bank’s demise on Friday speculating on the stability of usdc Traders redeemed 1.6 billion of usdc lowering its total Supply moving into the next paragraph and this is going to be the last piece that I’m going to highlight here late in the day Circle confirmed that 3.3 billion of their 40 Billion backing at staplecoin was on the deposit at now the shuttered svib bank or the Silicon Valley Bank the fate of that cache is now uncertain what Silicon Valley Bank having been seized by the FDIC and usdc for the moment has lost its dollar Peg so I know that that was a lot there to probably digest but hopefully that makes sense to the viewers Josh what are your thoughts about the article here the 3.3 billion that may potentially be lost and just what has been going on over the course the last 24 hours Ah it’s it’s chaos it’s uh nothing that we haven’t seen multiple times over in the past like a year and a half to two years so you know at this point it’s uh I I feel like it’s something that that a lot of us are used to by this point it’s it’s uh Um the thing though is that it’s it’s centralized entities that are failing it’s not decentralized protocols that are screwing up here and uh this is this is what crypto is all about um it’s uh it’s about figuring out decentralized Solutions so that this kind of thing doesn’t happen Yeah I completely agree and I was listening to a few live streams yesterday and some people were saying that this is basically reminiscent of what we saw with the UST or the Terra Luna crash right in which we basically saw that get d-packed in that went from A dollar to zero in almost a matter of 48 hours now one thing that I want to mention here that is going to be significantly different is the actual backing of the asset here so um the way that UST was backed was not similar or is not similar to how usdc is Going to be backed by Circle we’ve also heard Circle and coinbase basically say that they are willing to add additional funds to make sure or to ensure the stability of the usdc peg now I do want to jump over into Twitter here and to take a look at a recent tweet that was Just posted by coinbase and so that reads we are temporarily pausing usdc to USD conversions over the weekend while banks are closed during periods of of heightened activity conversions rely on USD transfers from the banks that clear during normal banking hours when banks open on Monday we plan to recommence conversions This is a big red flag to me Josh I don’t know what you think about this but for this bank to close or for this bank to go under on a Friday and then that very same evening coinbase says we’re going to now be pausing usdc transfers due to heightened activity I’m not sure if this is a liquidity issue that they’re having that they’re maybe trying to mask with this announcement but it does raise a lot of alarms for me personally so what’s your take on this tweet here from coinbase well coinbase is in the hot seat right Now because like three months ago they were directly encouraging people to swap their us uh the um their tether into usdc so like you know yesterday uh coinbase was was encouraging people to move this direction and then all of a sudden it goes under um so they’ve they’ve really got to Cover their tracks here I don’t think that this is something that they were aware of that was going to happen but um that this is this is the whole risk of centralized entities uh this is um when you’re you’re when you have direct one to one dollar Pegging uh you know in terms of of Treasury value it’s it’s it’s safer um because the the value is pretty protected the the Reserve that you have is is directly correlated to the uh the asset that you’re trying to back um so there that’s the advantage there but this is the disadvantage the Disadvantage is the the centralized risk to it um of of having to trust a third party and uh hoping that they don’t go under like what happened here so right and for anybody who’s watching this definitely make sure to get your assets off of decentralized exchanges I actually have To walk through an exercise yesterday in getting my assets off of kucoin now it wasn’t the majority of my assets but I did still have some assets on there so I just want to just kind of go a little bit off topic here and just kind of Highlight a lot of the actions that we’ve seen over the course of the last few weeks we saw some interesting action against busd um in which we saw um I think paxos who’s like the creator of bus deal or the person that that funds busd um basically get told to stop printing Busd and so that’s gonna now be coming out of support we’re now seeing this issue with usdc we’ve also seen the SEC come against Kraken as well as yesterday or I think maybe two days ago we saw the state of New York begin to go after kucoin as well right and so There’s a lot of different bits of information that are all just kind of coming together culminating into I think a pretty big red week for the entire crypto space that’s it again this is a reminder for me personally to not keep any of my assets within centralized exchanges right because you don’t know Who’s going to be getting hit next and you don’t know who actually has liquidity issues until it’s too late right when the doors are shut that’s when you find out okay hey well this this person actually had issues all along while they may have been saving face throughout the entire process so Those are just a few things that I wanted to mention again it has been a little bit choppy here when it comes to stable coins but I also want to highlight the fact that within cardano we recently had a brand new stable coin come on the market as well right so That’s Jed which launched I believe at the very beginning or at the very end of January depending on how you want to look at it but since then there’s been more than 12 million dollars locked into this protocol that said it appears that Judd might also be feeling some of the fud being Caused by usdc but before I get into that I’m just going to just quickly jump over here into my next chart which is highlighting the fact that the USD coin right now is trading at 92 cents again if you guys are not aware this is supposed to be Packed to a dollar at all times so if you have a US dollar you should be able to trade that in for one usdc and vice versa if you hold one USD coin you should be able to convert that back over to a single dollar so anybody who’s currently holding usdc is technically Facing a seven to eight percent loss right now on all of their assets due to something that is actually not in their control so again Josh anything that you maybe want to weigh in on here surrounding the d-pad before we kind of switch gears and jump into Jed and how That’s being impacted as well no I’m looking forward to talking about jet let’s jump there perfect perfect so yeah I’ll be keeping an eye out here on this Peg um again it is unfortunate if you guys hold any USD or usdc it is a tough decision that you have to make right now Especially given that some of these platforms don’t even allow for us to kind of jump in or out of the token but I would definitely make sure to you know watch your positions and if you have the ability to get out of it I personally Would be getting out of it but I am not in the business of telling you guys what to do with your assets we’re just here to raise the news and talk about it so without any further Ado we’re going to jump into jet and talk about how Jet is Potentially being impacted by this flood as well so I’m here on the official jet website which is accessible by going to jet.xyz and at the very top we can see right now that the price of a single jet token is worth 3.29 Ada a single Shen token which is the reserve token is Valued right now at 1.04 Ada and if we take a look at the very bottom Reserve there wow this is impressive Josh before we started to shoot this video the Shannon Reserve ratio was at 420 percent about 15 or so minutes ago it had dropped to about 410 percent and Right now as I’m looking at it here it’s at 406 percent so if this continues to drop by an additional six percent once we get to 400 percent there will no longer be the ability to actually burn Shen so that ability will be turned off And you will not be able to Mint any more jet because there’s not going to be enough collateral in the reserves to support that 400 ratio so this is going to be a first I believe since the official launch of Jed Josh what’s your take on this Uh this is this is markets being markets um people acting irrationally that the reality is that the the risk between these two um usdc and Jed it’s completely separated that they’re not at all correlated it’s simply the fact that they both have the title stablecoin in It that uh I’m sure people are reacting to um the usdc risk and and this is something that uh Cody the producers of of Jed uh was explicit about the the the risk between uh centralized entities is that you have to trust a third party to host And hold your asset safely and in that case that risk failed here in usdc uh and Jet isn’t completely risk-free but it doesn’t have that same risk there’s no regulatory entity that is is you’re you’re having to trust in order to handle it it’s all handled by a Decentralized protocol and uh they are increasingly decentralizes I think it’s they haven’t reached their full final form yet but uh um yeah that I’m I’m enthusiastic about Jed after this uh simply because it’s it’s a completely different framework yeah that’s a really good point that you Make there in the sense that you are right jet is going to be non-custodial it’s going to be run by smart contracts and so there is no third party risk there and one thing that I do also want to add is that this is just going to be A test of the protocol right like this is going to have to happen sooner or later first to actually make sure that it’s working I’m not sure if you recall but I definitely do that we had hit the reserve ratio going to 800 when it first minted right because there was just so Much hype a lot of people wanted to get the Shen token to see exactly what the rewards were going to be like Etc and so at that point we had almost too much collateral to where we couldn’t mint any more Shin so it was the exact opposite Of what we’re about to be facing now very shortly when we hit the 400 collateral threshold and so again I think that this is a an opportunity for us to learn and an opportunity for jet to kind of make a name for itself right like how how would The community number one feel about this because again if you’re holding Shen and you’re trading it on maybe for example something like Min swap you can still kind of get in and out of it but for anybody who’s actually going to the official jet website and looking to Mint brand new Shen Um you will be able to do that but you’re not gonna be able to burn any of your shin once we hit that 400 collateral ratio similarly you’re not going to be able to Mint any more jet once we hit 400 because there’s not going to be enough Collateral to support it so I’m showing that graphic here for the community I know that this was something that took a little bit of time for me to kind of understand but again now that we’re seeing this kind of play out I’ll definitely keep keeping an eye on it Here moving forward any closing thoughts or comments here on this Josh um I I think I might want to settle people’s expectations um because I think a lot of the way things went down early on in the beginning where uh the collateral Reserve ratio of Jed went up to 800 percent Um I I was expecting that to happen and it it probably isn’t likely that uh it would happen again until a like Mega bull market situation but the fact that we’re holding above 400 percent that we’ve held it for a good couple of months now I think is uh was a little Surprising to me but given the bear market conditions like I don’t think we should expect to stay regularly above that 400 percent Reserve ratio it’s not unlikely that we see any anywhere as low as maybe 200 250 percent collateral Reserve ratio and that’s that’s not going to reflect on the price of jet Um the the price of Jed is still gonna remain and hold above a dollar that’s that’s how the mechanism was built it’s supposed to resist bear market conditions it’s supposed to resist uh Black Swan events um and yeah might be a good time to to Pick up some Shen I know I’ll be looking at it yeah interesting take on that now I do want to just kind of move things along very quickly here and just highlight the fact that the Kodi team recently released an article um highlighting how Jet is now also Being incorporated into liquid so liquid Labs is going to be a lending and borrowing protocol on cardano that launched I want to say within the actual same week that we saw jet come online so that was an interesting launch now after their launch they had a little bit of Turmoil right they had some issues they essentially had to pause the protocol and they were able to fix some bugs before anybody was actually able to exploit them that aside what we’re now seeing is a new use case for jet on the liquid protocol so if you guys hold jet you can Now actually go ahead and take that jet and you can either lend or borrow jet on liquid finance that said I believe that you’ll be able to earn rewards and so I just wanted to highlight that there and in closing here and we’ll kind of turn It back over to you Josh I do also want to mention that the first set of shen token rewards have now gone out so every four or five epochs the Shen holders will be receiving Ada staking rewards as well as um uh mint and burn fees from people Actually using the jet platform so if you guys have not already earned or have not already checked exactly how much of the Shen token rewards that you have earned by holding Shen you can actually head over to the official jet website and they’ve got a full page dedicated to That but any last comments or um closing thoughts that you want to add here Josh surrounding jet in the recent um usdc flood that we’re seeing right now within the market now you know that this is a positioning Jed uh in a pretty good place um you Know we’re still small and uh nobody is paying attention to us in that area but um Cody and RG have done a fantastic job of of Designing and developing the infrastructure for the direction this is going the utilities and use case that this this particular token will have Both within the ecosystem and in real life um so yeah I this is it’s it’s not not a great day for crypto but uh it’s it’s a a pretty pretty solid bit of news coming uh for Jed so agreed and I’ll definitely be keeping my eye out on that market Um as we kind of fluctuate up and down there I’ll probably release additional videos on the channel highlighting exactly what is going on but that is going to do it there for that main topic again here um the usdc DPAC and the lowering of the collateral ratio for the jet protocol Now let’s switch gears into the second topic for today which is going to be discussing cnft liquidity so I’m now jumping over into opencnft.io and I’m going to go ahead and just quickly take a look at their Market here and I’m actually going to get the both Of us here out of the way so we can actually see the full screen now if I jump back here and I click on the all section here or the all option we can actually take a look at the entire crypto Market or the entire cnft Market here Josh And so we can see that at about the time where we had cnft con which was around the October November time frame we hit an all-time high in terms of trading volume which was right over 4 million Ada or around that around those weeks since then we can see that there’s been A quite sharp decrease and we’re now over the course of the last two weeks not able to get over 1 million Ada being traded so it is interesting um I know that for a few of the collections that I normally watch I have not been seeing as much trading activity so I can Definitely say that I feel this liquidity crunch it’s not just a visual here that we’re looking at but like looking at the actual nfts themselves I’m not seeing as many buys I’m still seeing a lot of people trying to list nfts but they’re just kind of sitting There on the market so have you kind of felt this Josh and like what are your thoughts and takes here on this decreasing amount of liquidity given the bear Market uh I mean this is the Ebbs and flows of of uh bear market conditions uh things Go up things go down uh I’m not worried about the long term of uh what nfts are gonna look like because this isn’t anything that we haven’t seen before in this bear Market as well um so yeah we’re at a lower position right now but I haven’t really noticed Much of it uh simply because you know my strategy is long term so I’m holding a bunch of nfts that I like a lot that have strong fundamentals that that are gonna be here in in five to ten years yeah and I I completely agree with that I think that’s one thing that you have to have now is strong conviction if you don’t have the strong conviction when times get tough like this you really think about getting out and you kind of start to panic right so that’s one thing I would just kind of say is is having Strong conviction and making sure that you’re investing in nfts that you really have a lot of belief in and so that’s what I’ve been doing throughout this entire time too and I’m also not a flipper I’m not sure about your take on nfts but I I hold or I buy nfts for the Long term and so while this has been a little bit brutal again my mindset is being able to capitalize on these nfts you know two or three years from now when we’ve got another bull market and things kind of heat back up and we get a Lot of the attention that we once had back into the space now I know that we’re talking about some pretty Down News um I do also want to mention though that we’ve got some new marketplaces coming online right so let’s kind of talk a little bit about Those as well now in my prior videos I talked about plutus.art which is going to be a brand new nft Marketplace that just came online giving jpeg store a little bit of uh competition what are your thoughts Josh as to them coming online flipper.io coming online and even jpeg store themselves Right now adding collection features and then also potentially dropping a jpeg.store token it seems like again that we’re in the bear but we’re still seeing people build yeah absolutely no that’s that’s the the thing with bear markets is fundamentals are constantly increasing and uh things are things are getting better like There’s more stuff to use there’s more things to do there’s more utilities added uh but you know prices are still going down because that’s just how how the markets are acting um I it’s uh exciting to see more marketplaces coming up um jpeg store still regularly captures Like 99 of the the market share but uh with good reason because you know they’ve they’ve uh just launched language localization so they’re looking at a global audience well most of the market is is still kind of stuck in the English sphere um and uh they’re dropping their own Token uh which they have hinted relentlessly and I have no clue what it’s going to do or like what uh how they’re going to distribute it or anything like that um so yeah there’s there’s still a lot of exciting stuff coming up right around the corner and these other marketplaces That are popping up they’re they’re bringing in some really interesting cool features and smooth experiences so you know things are developing things are moving forward things are looking up just not price wise right right and I think that’s something we have to get used to it’s not always going to be up And to the right there are times where things are are not going to go our way but again it’s it’s the belief that we have in the longevity that we also have to have here when it comes to our mindset so I’m not going anywhere things Might not be looking good right now but I know that they will pick back up and I believe in the tech I think that’s the biggest thing is understanding the tech and understanding exactly what we’re here for and just not forgetting that Vision man I know that when the prices Go down people kind of turn bearish they get a little negative but I think surrounding yourself with good company and just having that that positive outlook does make a difference that said on the jpeg store token man I’m waiting to kind of see what’s going to be happening there’s just been so Many hints but we haven’t actually gotten anything yet so I’ll be keeping my eyes and ears glued to the ground as soon as we get more information there I’ll make sure to keep the community updated now that was one half of the conversation here for the second topic Which was the cnft liquidity which appears to kind of be drying up now on the other half though we have something completely different when it comes to defy and that is the fact that D5 has now hit an all-time high when it comes to cardano Ada being locked on the Network so I’m going to quickly pull up D phylama here and what we’re going to see is that I want to say this was back in what in March of 2022 we had hit an all-time high of about 314 million dollars or excuse me 314 million Ada locked on the Network and that currently has now passed that up and we’re now somewhere at around 333 million Ada locked on the network in terms of the actual leaders minswap which I think rightly deserves being number one in the space currently holds 37 million U.S dollars locked Indigo at number two with 16 million dollars Locked Wing Riders at number three with 15 or almost 16 million dollars locked and then Jed with 10.3 million after that we’ve got a few other dexes we got liquid and a few other platforms that will be coming online very very soon so what’s your take on this Josh and the Potential rotation that we might be seeing here when it comes to cnft liquidity jumping into defy now uh it doesn’t surprise me um I mean so defy uh before this year was practically non-existent on cardano uh and and you know still testing still developing and now all of a sudden there’s D5 protocols Left and right that are popping up so of course people are going to run to use them especially given the strength of the cardano community uh these are still baby numbers in in my mind like this is this is nothing this is not uh a huge Deal but but now it’s there and now it can be used so that’s where the tvl is coming from yeah I I completely agree with you there um I think this is the first iteration and we’re going to continue to see more protocols launch and we’re going to see More of them begin to be upgraded so it’s been a while since we’ve been kind of just sitting on the sideline waiting for these protocols to come online but now that they’re finally here it makes you have use cases I think people are trying to take advantage of that and Earn that additional yield right now as there’s not really much else to really be doing again given the bear Market situations and so we have now liquid we’ve got meld on the test net that just went public and we’ve got paribits that should be launching here on the mainnet very very soon Those are just three of I think many additional protocols that will be coming online but like what are your thoughts on you know what to look out for are there any projects that you’re kind of excited about you know what what progress has got you interested That uh gosh uh I don’t think we have that much time um of course I’m looking forward to meld uh above everything um they are so forward thinking um and yeah it’s uh that there’s a lot to look forward to a lot of features that that they’re going to bring to the table Um I I on the nft side I’m looking forward to lending Pond that uh was one of the the first services on the uh on in the ecosystem we’ve got fluid tokens that has been making big moves and and really innovating their platform they’ve got a ispo coming up real soon um Yeah there’s the I could rant forever there are so many protocols that are going to be launching this year uh this year is going to be a huge year for cardano there’s going to be a ton of stuff to use there’s going to be a bunch of different protocols That are developing Innovative creative things that other people aren’t offering um it’s extraordinarily exciting you know like we said before fundamentals are increasing use cases is increasing it’s it’s real exciting over here at cardano and just because the price doesn’t reflect that you know things are getting Better doesn’t mean that they’re not so that’s what I’m excited about very well said farewell said in that’s actually going to be an ice pure that I’m going to be looking forward to is the fluid tokens one I know that they just released all the stake pool operators That will be added as a part of the community for that um and so yeah that’s just one one of the products that I’m looking forward to now let’s go ahead and just kind of close that topic out so we’ve kind of talked about cnft liquidity and we Talked about D5 hitting an all-time high the next topic that we’ve got here before we jump into our project Spotlight is going to be the growing multi-chain narrative so if you guys in the community are not aware we’ve got a lot of top projects here over the course last few months That have basically said that they are going to be expanding into other networks outside of cardano again here nothing wrong with cardano I think there’s a lot of development going on but if you’re going to be honest the liquidity compared to some of these other blockchains is a little bit Lacking right we take a look at ethereum we take a look at polygon Avalanche like they’re all in the the multi-millions and cardano is like on its way up again our default ecosystem is a lot newer which makes sense I think that as it Grows and as it ages and as we get more protocols we’re going to see a much more robust tvl and a much more robust ecosystem with adoption on cardano that said I think some of these projects are kind of looking outside of Corona right now to kind of take advantage of that Liquidity while also kind of getting their names out there into the growing ecosystem and so let me quickly share my screen here and this is going to be an announcement that was just made by genius X if you guys are not familiar with genius X they’re going to be a Launchpad platform With an accelerator built on cardano and they’ve now announced that they’re going to be partnering or collaborating with the polygon or the Matic Network now polygon is going to be operating as a layer 2 on ethereum operating using the evm or the Ethereal virtual machine so this is just one project here we’ve Also got though World mobile which has announced that their isi chain will be built using the cosmos SDK sidechain we’ve also got meld which Josh and I are pretty familiar with that recently announced that they’re also going to be going multi-chain with their own meld side chain on avalanche on top of that They plan on being supported I think on BSC and a few other blockchains so that’s just three protocols there we’ve also got IMX which is going to be a decentralized identity solution being built on cardano but looking to also leverage other blockchains and then we’ve got book.io which recently had its First book sale on ethereum and so again this is just I think the beginning but what are your thoughts Josh as to why these platforms are doing this and what the potential benefits could be these are all such forward-thinking top tier projects that uh really um really uh a whole like show some Conviction for for the future of cryptocurrency and uh many people like myself that are uh really decentralization thinking um our of the mindset that multi-chain is the future of cryptocurrency um and the idea there is is the seamlessness of it that you know Mass adoption comes when people Don’t even know that they’re using cryptocurrency that it’s just an easily accessible thing that they can go to and use without having to have some kind of a technical knowledge to it but before we can establish that seamlessness of of make it making it just easy to use we First have to establish that cross-chain connections and uh that’s that’s what this is it’s the first steps to the future of cryptocurrency yeah no I’m excited to hear that and I completely agree with you I think that as these ecosystems grow we’re going to start to see them really interconnect And I want to say that cardano is just kind of like a late bloomer in general because a lot of these other ecosystems already kind of intera interacting with each other and it seems like cardano’s kind of playing catch-up again kind of being the new kid on the Block and just taking That slower more methodical approach which I think will pay off in the long run and so um unless you’ve got any other closing comments here I think we’ll kind of wrap up this particular growing multi-chain narrative here and we’re going to switch over and talk about our project spotlight Let’s do it all right so moving into topic number four for today’s cardano consensus as a part of the project Spotlight our job here is just to kind of talk about some up-and-coming protocols or up and coming projects in the space and the first one that we’re Going to be touching on is actually going to be a guild being built within the cornucopia’s metaverse if you guys watch my Channel or even Josh’s Channel then I’m sure you guys have definitely heard of cornucopias before if not they’re going to be a metaverse being built using Unreal Engine 5 native to Cardano that said we’ve got I think three prominent guilds or at least two prominent guilds that I’m aware of with a third up and coming one the first is going to be the ninth skill we’ve also got the corn Mafia and then we’ve got tunnel vision which I’m actually gonna Be interviewing as well here on my channel very soon that said the knights Guild recently had their Gauntlet nft sale this is going to be an nft that was listed as a part of their Knights nft series which we already saw the shield the helmet and I believe the the sword Already come up for minting so this was the latest nft that sold and I think it sold out actually so congratulations to all the knights but Josh is actually a knight too right so give us your take on on how this XC went down you know what Was the experience and what was the sentiment like surrounding this nft so yeah yeah I’m a part of the leadership team over at the the knights Guild and uh going into this mint um we we knew that this was gonna be a big one um and it was just it was so impressive To me that uh it sold out in a matter days within a week it they were the sellout and that’s that’s incredibly impressive to do in a bear Market uh when when cnft volume is at an all-time low when when people aren’t excited about nfts like people are coming and They’re excited about things that the knights Guild was doing and rightfully so uh there’s there’s a lot of talent behind the team um there’s a ton of uh forethought Forward Thinking and development happening in the background there um yeah the the night Scotland nfts are supposed to represent a uh another round Of purchasing cornucopias land nfts and that process has been going phenomenally uh we’ve been collaborating with the community there’s been a lot of uh solid deals being struck up and and the funds are being used incredibly efficiently I think even a little bit more so than was planned and anticipated and uh yeah When’s cornucopia’s launches the night skill is going to be a force for reckon with I completely agree I literally it’s funny you say that I just got off of an interview with Moody Hound who I’m sure you’re familiar with he’s one of the founders of the guild but we Talk for an hour and he talked about so much he talked about the guilt structure how to become a knight company X and just the the broader reach that this community has outside of just the actual game itself and so I was highly impressed and I’m actually going to be Editing that video here throughout this weekend and I’ll have this out hopefully early next week so if you guys are interested in that definitely check out the channel but I do appreciate Josh giving us the run down there on that now I do also want to mention just speaking generally about cornucopias We should be expecting I believe their MVP right as a part of Q2 of this year so I’m sure Josh you signed up to be a tester I’ve already done that I’m waiting man and hopefully we both get selected because I know you’ll be creating content about it I’ll Definitely be creating content about it but things are finally coming to fruition if you guys have not already checked out their latest March update I will definitely go ahead and check that out man this team does not miss any details man what are your thoughts on that Uh it’s uh the thing that I’m most looking forward to this year practically I um it is it’s a new landscape of of economic interactivity um the ability to connect with people uh directly um in in business it’s never been seen before but the way that this is going down Um and and all of the details that they’ve released uh that they recently said that all of the leaks that they’ve put out all the information they have on the copy Wiki and the Discord and the website it’s just a fraction of everything that they have going on in The background and and I believe it um it’s a I’m really looking forward to it yeah I believe that as well again when you just look take a look at their slide decks their nfts their communication even the Kopi Cafe everything they do is high quality and that’s what we need to Start seeing more of in the space projects showing us while they’re building what they’re building and just really keeping solid Communications all the way throughout all right let’s go ahead and just move over into the next two project spotlights that we’re going to be talking about which are both going to be Nft collections so we’re going to kind of keep these a little quick and then we’re going to jump over into our interview with sub critical so the first project that I want to talk about here I’m jumping over into jpeg.store it’s going to be the goombles nft so if you Guys are not familiar with the goombles nft this is going to be founded by farmer Nash who I believe actually came from ethereum and he decided to kind of mint and build his community here on cardano now he and wob.eath I think got a lot of flack when they first came over Into the space because of how they decided to do it they were really engagement farming causing a lot of drama but in the end I think they’ve been really accepted here within the space so this was a highly anticipated nft collection and just kind of reading the description Here it says indulge in the sweet times life has to offer Goombas are delicious and lovable candies that come in a variety of flavors shapes and sizes Goombas act as your all-access past to everything and the Google’s ecosystem so Josh I will have to say I’m not an Expert when it comes to Google’s I did see a lot of their white list or their whitelist spots go out for sale but can you kind of give us a little bit of background as to what the Google’s Project is yeah yeah the goombles project is a very Principal team uh they they come at it and they’re they’re very clearly not interested in making a quick buck and and getting rich off of the hype of of making money and stuff they’re not interested in that they’re they’re very clearly building something that is going To be accessible to a lot of people um and uh if if you’ve ever been a fan of uh games like like uh Tower Defense games uh balloons as an example Bloons td6 was one that I was really into um when uh when that got big uh it’s It’s a tower defense game that will be accessible through mobile that’ll be uh something that that people can just play and maybe there will be play to earn features of that but they’re not committing to that because the point is uh is is not to make money the the point is not to Get rich off of this this crypto world the point is to develop use case and and create a case study for how web 3 games should be built um and and I think they’re leading the way on that one so they’re doing a great job awesome breakdown there awesome Breakdown jumping back in real quick I want to take a look at some of the stats I’m a numbers guy so they’ve got a total of 5 000 nfts with a total of 1700 owners and the floor price is currently trading at about 246 Ada with over 20 Being listed now that 20 is relatively high but I do have to say it’s a brand new collection I wouldn’t expect a lot of you know people holding till the end right now like we see with some other collections that have been out on the market over the course of the last six To nine months that said they did raise a pretty nice amount here when it comes to Ada volume being traded which is currently sitting at 1.34 million Ada any project that makes it over the 1 million hump I got to give them credit especially right now As we just talked about the liquidity is super thin right and so for them to be able to come out in the middle of a bear Market especially when it comes to cnfts and still be able to raise 1 million eight in terms of trading volume I think In my eyes is a job well done so any closing comments here on Google’s I think that does it um the they’ve got more coming out um and I’m really excited to see what kind of information comes out of this project um I like the direction they’re headed You know like I said it’s it’s a principal team and I really respect their approach and I think that’s why they’re gonna make it good stuff good stuff all right moving into the next um project Spotlight this is going to be the ape Society now we have talked about This team before here on this channel and if you guys are not aware let me just jump back over into jpeg.store they’re going to be releasing a nft collection of 7 000 Apes which has excuse me has already been released but they’ve also got a collection of of 10 000 cabins now what we’re going to be talking more about today is the fact that they’re going to be um announcing their citizens of the Apes Society nft Mint or Kata so hopefully I’m pronouncing that correctly Kata cercotus anyway I think you guys get the point here that’s what that stands for Now the mint date is supposed to be set for March 16th of 2023 with the cost of each of these nfts at 99 so I assume they’ll probably be taking the price or the valuation of ADA at the time of the mint there just to kind of give the Community an idea as to what the actual Ada value is when it comes to the supply there’s going to be a total of 10 000 of these nfts now that said I don’t think that we’ve actually gotten any sneak peeks of these nfts and there really hasn’t been that much information Surrounding the citizens of the Apes Society nft mint so I wanted to bring this up here but Josh are you aware of anything else that I may not necessarily be privy to I don’t think so I mean the AF Society is one of those projects that I have Huge respect for I I really like the direction that they’ve they’ve gone what they’ve built uh I think they’re doing a fantastic job I’m not actually a part of it in any way I don’t own any of their nfts so I you know I’m not coming at it With any any you know bias here but uh yeah I’m interested I think they’re incredibly creative um so I I am interested to see what this uh particular collection launch is going to be about yeah likewise I know that they’re trying to do more than just the traditional Projects here I think they’ve got like a launch pad um they’ve got like a dow they’ve got you so much going on here again I can’t name everything off the top of my head but I know that they’re they’re trying to just really kind of set the the Standard when it comes to how projects should operate so another one here to be on the lookout for but that is going to bring us I think to the end of today’s show and what you’ve talked about usdc and how that could potentially be impacting jet we’ve also talked about Saying that’s the liquidity kind of shrinking over the course of the last few months as well as the continuing rise in defy and then we just talked about some of the project spotlights which included the knights Guild goombles nft the Apes society as well as we briefly touched on the growing multi-chain narrative At this time Josh unless you’ve got any closing comments or thoughts I think we’ll bring on subcritical and kind of get to know him a little bit better let’s do it all right everybody welcome back and as promised we’ve got subcritical here for our content creator interview sub how you doing man Doing good good to have you on man now what we want to do is just kind of just pick your brain get to know you a little bit better here um you’ve been in the cardano community for quite a bit of time and uh I’ve been Following you on Twitter for I want to say as long as I I can remember so you’re a pretty big name when it comes to Twitter how did you come into the space and just give us a little bit of background about what you do for cardano man Yeah so I mean I was just messing around with crypto and then for some reason I kind of clicked with the Cardona community and then I kind of just stuck around and kept like making more connections meeting people went to a few events and then I don’t know I just kind Of stuck around and that’s just what I’ve been doing now got it got it are you enjoying what you what you do because I think you do a little bit more of Education surrounding Define right yeah so a lot of things I focus on is more D5 which I was hoping would have Taken off a long time ago but it took a lot longer than anybody anticipated because we were all like smart contracts will be here and then shortly after all these protocols will come online and then it took like a year before anything really came online to use Yeah I think that’s with not not just um D5 but I think that’s with just any project right like nfts metaverses I think when the Bull Run was here everybody was excited everybody thought that everything would be built overnight even the adoption of like the fossil hard Fork smart contracts you know People are like oh you know the fossil hard Fork is here we’re going to start to see all these updates and even now there’s only just a few platforms to really taking advantage of that so if I’ve learned anything over the course the last like year it’s just To be extremely patient in that all this stuff takes a long long time to build yeah I definitely agree with that because there were a lot of the times even like when you go to like the summit or things like that and people are just like yeah this is gonna come here soon And a lot of the devs would be like no it’s going to be a lot longer than people are anticipating and I think that’s kind of what’s been weird to me is like I try to voice a thing where I’m like hey maybe this isn’t going to Happen as soon as we think but people are like no it’s coming soon it’s like okay sure yeah as they say Rome wasn’t built in a day um and uh patience is key in this space uh you know I think this is the first time that you and I have had any any Like face-to-face time uh so first of all I just gotta say I have incredible respect for everything that you do um and I’ve followed you for a long time I’m super jealous of all of the uh creators that get a chance to work with you and and connect with you um so thank You for what you do um what I’m interested in is uh who you are just as as a person in your everyday life outside of crypto you know that’s that’s the kind of stuff that uh I think people don’t get to see and I’m interested Why you do what you do you know how you ended up here and and you know what what kind of interest uh outside of crypto that that you know made you align with with this tell us your story yeah so I think it just all goes to like I think a lot of people get into crypto for the same reason right like I grew up with not a lot of money uh with a family that you know didn’t have money to spend on really anything and I’ve gotten to a point in my life where I finally have The money to invest and think about my finances in a different way and obviously crypto is one way of thinking outside of the regular banking industry whereas I do still have my 401k and all this other Boomer stuff uh but thinking into the future of like how can I own my Own assets why can’t I just loan money to my neighbor uh with like a smart contract instead of having to go to a bank to you know work that out for me when we’re seeing like Banks collapse because they’re taking all of our money and going and doing crazy stuff with it Uh I don’t know so all that really interests me and that’s kind of how I got into this crypto Journey but outside of here I’m just normal like anybody else I I like to go snowboarding I like to watch anime I like to play video Games I just hang out like but I’m going on this crypto journey and I’ve just kind of been documenting it that’s kind of what my Twitter had always been um anything I’m posting is me learning how to do it and then I show the steps of like that process in my brain and Then it kind of clicked with other people and I was like all right I guess I can do these in tandem that’s that’s super cool and uh I think you’re in the right space for all that um you’ve been doing great work I see the uh denketsu comic in your background There I’m a big fan of them too yeah yeah so uh so yeah um that’s cool that’s dope now you you did also recently attend cnft con and rare Bloom right where you and I did get to meet we uh got to really kind of chop It up there with uh Jay speak as well and you guys recently brought me onto your podcast so not only did you already kind of establish yourself when it comes to Twitter right but you then kind of took that next step and you dove into the YouTube world So what kind of spurred that transition and how have you found that experience to be compared to Twitter yeah so I mean yeah I’ve obviously been making all this like content on Twitter and I figured like let’s see if I can transition that over into YouTube uh and it’s different it’s definitely a Different format obviously like being in front of a camera and doing those things and especially editing and like looking at your stuff and listening to yourself is like really weird like to me because I’m more of a person that’s always taken in content rather than created content So that part of it is strange but I mean there is a fun feel of it where it feels like a lot of what I did already translated it’s almost like I was writing a script anyways when you’re writing like something on Twitter because it has to be easy to read and Get points across quickly and that’s like bullet points pretty much when you’re making a video so they do kind of go together a little bit yeah I I can definitely see how your knowledge from Twitter has translated over into uh YouTube one of the things that I appreciate About your content are some of your your deep dive threats where like you said you learned about something and then you kind of share that with the community through a thread and I think that’s probably where you found the most success right I think around the time of The launch of Jed right there was just so much education that was needed in the community and I think the way that you kind of package some of that information surrounding how that protocol works really resonated with the community so again I want to Echo what Josh said here Man I think what you do is really awesome and being an educator is something that is needed more than ever right now in the space right especially during the bear time where a lot of people have extra time to you know look around and actually learn I think people like Yourself are needed in this space now let’s just kind of quickly talk about some of the projects that you know you cover um just maybe pick your brain a little bit and then I’ll turn it over to Joss if he’s got any other questions about what you do here but Josh and I were just talking about the fact that Jed the collateral ratio has been dropping quite significantly given the recent flood that we saw with usdc I’m sure you’re probably aware right usdc has recently depegged but we were talking about how this is really the first test for Jed Coming into that 400 collateral ratio and so I kind of want to ask you because again you this is something you understand very well but like what are your thoughts surrounding this should people be worried about what’s going on is this normal um is this expected like what are your thoughts surrounding that Yeah I think it’s definitely something to watch right when we get to the 400 percent and if it gets uh you know going lower depending on what the price of ADA does this is the first battle test I think I just put out a tweet too we’re Like we’re we’re all watching this to see like is it gonna hold up because we’ve seen issues before with different stable coins and this one actually has that Reserve ratio from 400 to 800 percent it does have a little bit of a different mechanism than what we’ve seen But the Shen holders is what it’s going to come down to is like are they going to be scared of this and be like you know what I can’t trade my Shen right now but I can go on a decks and I can swap it and get rid of it so we could See the price of shen be way different than what it is inside of the jet protocol so that’s what I’m going to be watching today and kind of seeing if people are getting scared out of their Shen positions wow it’s funny that you mentioned that That I want to say is almost word for word what Josh and I had explained to each other earlier when we were chatting and so I think all of us will be keeping an eye on that there but like you did also say it’s it’s the first real battle Test so I’m excited to see how it how it pans out and hopefully it turns into a moment of of respect if it is able to to last right uh but this has to happen sooner or later whether it’s now whether it’s a year from now or this two years from now It eventually needs to happen so we can see how resilient is this because and I mentioned it to this to Josh earlier too we saw the collateral ratio hit 800 and everybody was happy about that right and that’s obviously in the in the good direction we’ve got too much collateral But what about now when we’re now getting not enough collateral so I just wanted to ask that question kind of pick your brain on on that Josh you have any other questions for uh subcritical yeah you know uh I think what I noticed with your content a lot is uh that it’s Not just educational but it’s insightful um you you come at it from a very principled approach um you you know it’s clear what you believe and uh you know what long-term fundamentals that you’re you’re looking at and paying attention to and and I respect that a lot Um I think that offers something uh different to educational content that uh I try to provide to my videos as well and and you know what what I want to ask is I don’t think anybody believes that you’re going anywhere you’ve been here forever you continue to create content Um what’s the long-term plan for your content creation journey and uh you know let people know where they can find you yeah so overall like it’s difficult with content creation right because you get stuck in this niche of kind of what you have to stick to which right now Obviously is a lot of people who follow me on Twitter are probably going to come over to watch my breakdowns of the same thing so it’s going to be how to use an actual protocol in a tutorial uh whereas with Jay and stuff we had been doing Stuff on the side that people just aren’t quite interested in yet and you can see there’s a spark there where it’s slowly growing which is the metaverse play and you know getting on there and doing that stuff because we’ve seen projects like spatial i o uh Ready Player me they just continue to innovate and grow and we’re going to see a huge increase in people using avatars and you know getting into all these Virtual Worlds but is it here yet probably not so my content will I’m trying to evolve it so it combines the both right now so That if I if that does ever take place I can kind of grow into that also uh so yeah if you’re interested in that kind of content you can check out my YouTube or you can check out uh my Twitter and I’ll be sharing both of those And I also want to highlight here he recently updated the actual name of of your channel to reflect that growing audience right um I think you were previously just what it was sub-critical um oh no it was cardano real fi and then you kind of broaden that up to subcritical crypto Right yeah so I did change that up go ahead go ahead yeah so Cardona real five was the thing I was doing for the longest time just because I felt on Twitter there wasn’t like a presence in spaces for talking about Real Fine defy so I kind of Created that and started a community and it grew and a lot of people were super interested until nothing came out like all these projects that were supposed to come out didn’t so it kind of died out and then it came back with the newer protocols actually coming online uh but At that point I decided you know like I need to change things up especially as like my newsletter went from review to sub stack so now I have my Weekly Newsletter on substack I decided to change it up and just be like all right now I’m going to be subcritical crypto Or I can talk about an expanded amount of stuff rather than just being stuck in real thigh or defy yeah I think that that was a solid move and I completely agree with that you don’t want to get too Niche down to where you don’t feel like you can talk About anything else other than D5 or one particular protocol or one particular subject I should say uh that said man I will have to commend you for what you’re doing not only on are you on Twitter you’re on YouTube you’ve got your own newsletter you’re doing it all man so again Um thank you for for sparing some of your time here with us man I’m going to turn it back over to Josh if he’s got any other closing questions if not um I think we’ll go ahead and wrap it up man no you know that does it for me it’s Uh been a pleasure to have you on and have you share a little bit of your story um and uh I hope we get to collaborate more in the future you know it I’m a big fan so it’s cool to have you here yeah we definitely will I know everybody in The community I think is trying to collab more which is great because I think we all need to get our heads together and kind of just see where we’re all at in this market because I think a lot of us have a lot of different thoughts going on right now Truth completely agree so if anybody wants to follow you how can they do that yeah you can either find me on Twitter subcritical TV or you can find my subcritical crypto channel on on YouTube and then links to my newsletter and all that are there too if you want to be Following up on what’s going on on cardano got it thank you so much for your time if you guys want to stay up to date with the latest D5 news give subcritical a follow like And subscribe the links to his Channel’s Twitter and his newsletter will be down in the description below This is going to wrap it up for today’s cardano consensus episode we appreciate you all for tuning in if you guys appreciated this content go ahead and check out Josh’s Channel as well and again thank you both here for jumping on for uh this quick interview thank you Both and I will catch you guys in the next video thank you In the second installment of the Cardano Concensus, a collaboration between Late Game Crypto and Dapp Central, we discuss ALL things USDC, DJED as well as projects making waves in the space which include The Ape Society, Goombles, Cornucopias and Genius X! Make sure to subscribe to Josh’s channel using the link below! If you want more of this content, let us know down below! LGC Josh YT – https://www.youtube.com/@LateGameCrypto LGC Josh Twitter – https://twitter.com/LGC_Josh Subcritical YT – https://www.youtube.com/@Subcritical Subcritical Twitter – https://twitter.com/SubcriticalTV Dapp Central is an educational channel, aiming to on-board new crypto enthusiasts into the space.The channel covers the latest news, reviews and tutorials surrounding the top projects in Cardano.If that interests you, then make sure to subscribe to stay updated! If you have any questions, then make sure to leave a comment down below.Thank you!👋 💌 Email: [email protected] 🐦Twitter: https://twitter.com/dapp_central.

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