USDC pe Cardano printr-un pod cu Ethereum

Cardano enthusiasts can now use USDC natively on their preferred Proof of Stake blockchain, this thanks to the iagon bridge between Cardano and Ethereum, facilitat de Milkomeda EVM-compatible sidechain.

USDC lands on Cardano thanks to iagon and Milkomeda

Development continues unabated for the Proof of Stake blockchain founded by Charles Hoskinson, with the latest news coming from the interoperabilitate latura lucrurilor.

Milkomeda is an EVM-compatible protocol that allows wrapping ADA to issue milkADA on its sidechain. In a way, it’s reminiscent of Polygon’s relationship with Ethereum. 

This essentially means that ADA can be sent from Cardano using the Nami or Silex wallets to a MetaMask wallet, this locks the ADA in a smart contract and users receive milkADA permițându-le să interact with the nascent DeFi on Milkomeda, which includes MuesliSwap, Milkyswap and Blueshift.

Până la iagon’s involvement goes, it was them specifically who created acest pod powered by Milkomeda and Nomad. They also announced they will bridge other ERC-20 tokens such as USDT, CARDURI, GERO și C3.

We got in touch with the iagon team to ask them some questions:

Hi there, can you introduce iagon and tell us more about this bridge with Ethereum?

“Iagon is a shared storage economy that bridges decentralization and compliance for Web 3.0. Our team believes that our Token Bridge solution powered by Milkomeda & Nomad contributes to Cardano ecosystem development & growth as a whole. It’s not our core product, but our goal was to help users with an easy way to bridge their assets from Ethereum to Cardano and push its adoption.”

You’re also running an ISPO (Initial Stake Pool Offering) on Cardano, how does it work?

“We launched our ISPO on April 19th, 2022, with pool ticker IAG1 and a conversion rate of 0.02 $IAG per 1 ADA staked. Also, we are involved in Genius X’s ISPO with the GENS2 pool and 50/50 rewards. It’s still an early stage of it, but the interest from the community is high, so we plan some more engaging activities to reward them in addition to our 3M bonus rewards for early stakers.”

?Iagon Ethereum-Cardano #TokenBridge este lansat?

Credem că soluția noastră este alimentată de @Milkomeda_com & @nomadxyz_ contribuie @Cardano dezvoltare si crestere? ✅

? E timpul să-l încerci - https://t.co/y96PfMPbTk#buildingoncardano #CardanoCommunity pic.twitter.com/monHzOOVU4

— Iagon (@IagonOfficial) 25 Mai, 2022

Unstable stablecoins

Stablecoins have been the talk of the town in recent times, primarily due to the Terra and UST debacle. The crypto world is learning the hard way that a stable asset is not an easy task. During the de-pegging of UST, also Tether’s USDT had seen a slight depeg to $0.95 on some exchanges, probably caused by the current fear surrounding these types of crypto assets.

Aceste fluctuații have led many to switch stablecoins, Cu USDC leading the migration. 

Moneda USD (USDC) este emis de către centru, the consortium founded by Cerc și Coinbase.

Mai mult decât atât, Cardano community is eagerly waiting for DJED, an algorithmic stablecoin issued on Cardano thanks to the involvement of Coti, another crypto project which uses the DAG (Directed Acyclic Graph) technology as opposed to the classical blockchain.

Rămâne de văzut whether Djed will give new hope for algorithmic stablecoins following UST’s collapse, or whether this idea is just good on paper.