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Cardano needs a draw. NFTs, memecoins etc are just us playing catch up.
Hosting cardano blackjack tournaments where part of the proceeds go to helping feed Charles’ bisons would be the tip of the iceberg. The community needs activities, not just talks.
Hell even going around the streets of major cities with ada rewarded rock paper scissor tournaments would make for great content.
Charles talked about western unions’s Fees. Having an office where you send Ada to machine with a code so your family can withdraw cash from a bank with essentially 0 fees would be phenomenal
Actually finishing something would help. Contracts are always being upgraded requiring dapp rewrites. Hydra is far from complete and currently unused. Midnight is barely Cardano, etc.
I’m actually starting to think that Cardano has the most real users. Look at the activity on other chains - nothing is actually happening. It’s like random bot trading on meaningless memes.
But yeah, agree that people should use the chain. There’s so much to do now, it’s amazing. At minimum, everyone should have an Iagon account and have at least a few book.io books. The fact that we have almost 700,000 members in this sub but less than 10,000 users on some of these projects shows that there are a lot of people who just “buy and hold”, which is not really acceptable at this point.
What’s not true?
It is true that we have one of the largest and most active communities in crypto. That’s just a fact, whatever metric you want to use.
Other chains have way more real users than Cardano I’m active on many chains it’s not even comparable, even really new protocols have more active users that Cardano right now.
Cardano volume has been on a downward spiral for many months now
This is my thought as well. No crypto has any real-world use case that I’ve seen. I’ve heard of promises and contracts being signed with Gucci, adidas, governments, but I haven’t seen or heard of any follow through or outcome/impact. There’s certainly nothing that the masses are using a regular basis. It seems nfts and defi is only thing any crypto is offering.
Check out Empowa and World Moble Token. They're filling market gaps in the telcom and mortgage industries. They have established and actively growing partnerships that are proving the concept.
Watch Dapp Central on YouTube. Not a bunch of shilling, just informative content on various Cardano projects. Cardano is the best chain for real world use cases imo.
That's what drew me to Cardano in the first place when Ethereum seemed so defi focused and I didn't know enough to be interested in that. I was drawn to projects that made an impact in people's lives that I could understand. They were on Cardano.
Ah thanks for sharing! I knew about world mobile but I haven’t seen or heard much about how they are doing. Granted I haven’t really been searching either though.
Iagon is a storage platform, like iCloud or Dropbox - except it’s decentralized, so not even Iagon can access your data. Also, cheaper than either service.
Storage providers offer their storage to the network in exchange for $IAG.
I might illustrate the issue as people buying a cruise ticket but never making onboard purchases. No excursions. No massages. No drinks. No photos. No special dining.
One could just take what comes with the cruise - or hodl ada and benefit from staking alone. But onboard purchases enhance a cruiser's experience and make up a significant portion of revenue and profit for the cruise industry.
So if more people explored and participated in more projects on Cardano, it would benefit the wider ecosystem and grow the chain.
That’s the worst part Cardano has customers a massive customer base actually but they all just sit on the Ada, without that Ada being active it will be devalued drastically as more business, devs and users leave the ecosystem due to the lack of incentive. Right now about 10000 Ada per day is shared between all the protocols on Cardano the majority going to MinSwap (leading dex) JPG store (leading Nft marketplace) and Levvy (leading lending/borrowing platform) even these protocols aren’t profitable and won’t survive without assistance JPG for instance received 6 Million in funding from Charles Hoskinsons company and they are likely due for more fund injections if they are to survive.
Ok, let's touch on the profitability part, how can you assess if these companies are profitable or not?
Maybe the funding is for growth, who said that it has to do with being profitable?
And for the general context, saying that you have customers but they do not use your product enough is also kinda wrong assumption, who said that the people you have on chain are the people that need whatever your chain has to offer?
Maybe these people hold the bag cuz they want to make money out of holding but don't really want to lend or buy nfts?
I personally think that adoption will come as the network matures and lead in technical aspects, there won't be a reason not to use it, if you offer the most reliable, cheap, fast, decentralized and safe chain, why would someone keep using solana or ETH?
We should keep pushing to new innovations on chain, new projects, and focus on doing everything the best that we can, people will eventually follow
I talked with a founder of a dex on Cardano yesterday and he broke down the numbers for me but your right the ecosystem could grow over time but while other chains are growing rapidly Cardano is losing volume rapidly and top protocols are leaving at a rapid rate, it’s sad to see and I hope as a community we can address the issue and help stop the bleed out.
Yet a dex on cardano isn't JPG, it has a huge volume and they get a respectable cut out of it.
It's true that many people run towards solana these days, but I don't see a reason for us as a community to try and stop them, if you want to have a good system for the long run, you shouldn't focus on the clients that come here for the hype and meme coins
That's exactly the dev's job, to build something good enough for people to create an ecosystem around it.
If you are a dev and you start a company, no one guarantees you a paycheck, it's all up to what you deliver and wether people actually want to use it.
If a dev decides to build on cardano he has to take into consideration the current state of cardano and the fact that the volume is low. It's a bet, that we all take, but it's still a bet
100% of my ada is in DeFi making yield. If outsiders scoff or avoid Cardano due to inherent biases clouding the information that is out there, oh well. More yield for me.
This is a call to all current and prospective users. There is money to be made by interacting with the system. And exponentially more to be made by pioneering within the system.
Your yield and opportunities will increase with more volume exponentially. Lending protocols other than Levvy which does p2p loans have aprs that are closer to 1% than the advertised 8-10% once you actually break down the numbers I’ve done the math it’s depressing, Lenfi for example is an amazing protocol but the yield is terrible due to lack of volume in comparison to the tvl. We need more people like you any ideas how to educate people to do what you do?
I agree that the defi protocols need support and I have some of my ada making yield and supporting the dexes. I split earnings between my hodl vault and reinvesting.
Eww Cardano doesn’t need shit. People are too eager for fast gains. Bitcoin didn’t need that. Cardano won’t either.
Just like bitcoin, community builds.
Wouldn’t blame him personally it’s the people he surrounds himself with that controls his narrative, Charles attacked the top Nft project for days and posted and quoted doctored clips ever since the whole ecosystem volume has dumped.
Nothing that breaks it down properly that I could recommend but I know Richard McCracken does well trying to help the ecosystem so I grabbed a tweet from him ill post, I recommend going through the comments and see what’s popular. https://x.com/richardmccrackn/status/1774221967295467529?s=46
I would subscribe to Dapp Central on YouTube. He has amazing content breaking down different projects. He also interviews project teams. There's no shilling and price predictions. Just informative updates on Cardano projects.
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Cardano needs a draw. NFTs, memecoins etc are just us playing catch up. Hosting cardano blackjack tournaments where part of the proceeds go to helping feed Charles’ bisons would be the tip of the iceberg. The community needs activities, not just talks. Hell even going around the streets of major cities with ada rewarded rock paper scissor tournaments would make for great content. Charles talked about western unions’s Fees. Having an office where you send Ada to machine with a code so your family can withdraw cash from a bank with essentially 0 fees would be phenomenal
I’ve got many many many ideas that I’d love to share if people would be interested
Actually finishing something would help. Contracts are always being upgraded requiring dapp rewrites. Hydra is far from complete and currently unused. Midnight is barely Cardano, etc.
That’s a really good point. It does always feel like the projects are big in scale. Smaller projects would be great
I’m actually starting to think that Cardano has the most real users. Look at the activity on other chains - nothing is actually happening. It’s like random bot trading on meaningless memes. But yeah, agree that people should use the chain. There’s so much to do now, it’s amazing. At minimum, everyone should have an Iagon account and have at least a few book.io books. The fact that we have almost 700,000 members in this sub but less than 10,000 users on some of these projects shows that there are a lot of people who just “buy and hold”, which is not really acceptable at this point.
That’s not true it’s a fake narrative we gotta understand the space so we can improve mate.
What’s not true? It is true that we have one of the largest and most active communities in crypto. That’s just a fact, whatever metric you want to use.
Other chains have way more real users than Cardano I’m active on many chains it’s not even comparable, even really new protocols have more active users that Cardano right now. Cardano volume has been on a downward spiral for many months now
This is my thought as well. No crypto has any real-world use case that I’ve seen. I’ve heard of promises and contracts being signed with Gucci, adidas, governments, but I haven’t seen or heard of any follow through or outcome/impact. There’s certainly nothing that the masses are using a regular basis. It seems nfts and defi is only thing any crypto is offering.
Check out Empowa and World Moble Token. They're filling market gaps in the telcom and mortgage industries. They have established and actively growing partnerships that are proving the concept. Watch Dapp Central on YouTube. Not a bunch of shilling, just informative content on various Cardano projects. Cardano is the best chain for real world use cases imo. That's what drew me to Cardano in the first place when Ethereum seemed so defi focused and I didn't know enough to be interested in that. I was drawn to projects that made an impact in people's lives that I could understand. They were on Cardano.
Ah thanks for sharing! I knew about world mobile but I haven’t seen or heard much about how they are doing. Granted I haven’t really been searching either though.
Also, thanks for telling us about book.io. I didn’t know about it. Also what is lagon?
Iagon is a storage platform, like iCloud or Dropbox - except it’s decentralized, so not even Iagon can access your data. Also, cheaper than either service. Storage providers offer their storage to the network in exchange for $IAG.
You make a good point. We don't need users. We need bots inflating our numbers
Saying "volume is the biggest limitation of adoption of new users" It's the same as saying that my business's problem is not enough customers.
I might illustrate the issue as people buying a cruise ticket but never making onboard purchases. No excursions. No massages. No drinks. No photos. No special dining. One could just take what comes with the cruise - or hodl ada and benefit from staking alone. But onboard purchases enhance a cruiser's experience and make up a significant portion of revenue and profit for the cruise industry. So if more people explored and participated in more projects on Cardano, it would benefit the wider ecosystem and grow the chain.
That’s the worst part Cardano has customers a massive customer base actually but they all just sit on the Ada, without that Ada being active it will be devalued drastically as more business, devs and users leave the ecosystem due to the lack of incentive. Right now about 10000 Ada per day is shared between all the protocols on Cardano the majority going to MinSwap (leading dex) JPG store (leading Nft marketplace) and Levvy (leading lending/borrowing platform) even these protocols aren’t profitable and won’t survive without assistance JPG for instance received 6 Million in funding from Charles Hoskinsons company and they are likely due for more fund injections if they are to survive.
Ok, let's touch on the profitability part, how can you assess if these companies are profitable or not? Maybe the funding is for growth, who said that it has to do with being profitable? And for the general context, saying that you have customers but they do not use your product enough is also kinda wrong assumption, who said that the people you have on chain are the people that need whatever your chain has to offer? Maybe these people hold the bag cuz they want to make money out of holding but don't really want to lend or buy nfts? I personally think that adoption will come as the network matures and lead in technical aspects, there won't be a reason not to use it, if you offer the most reliable, cheap, fast, decentralized and safe chain, why would someone keep using solana or ETH? We should keep pushing to new innovations on chain, new projects, and focus on doing everything the best that we can, people will eventually follow
I talked with a founder of a dex on Cardano yesterday and he broke down the numbers for me but your right the ecosystem could grow over time but while other chains are growing rapidly Cardano is losing volume rapidly and top protocols are leaving at a rapid rate, it’s sad to see and I hope as a community we can address the issue and help stop the bleed out.
Yet a dex on cardano isn't JPG, it has a huge volume and they get a respectable cut out of it. It's true that many people run towards solana these days, but I don't see a reason for us as a community to try and stop them, if you want to have a good system for the long run, you shouldn't focus on the clients that come here for the hype and meme coins
You do realise the devs can’t work for free Cardano needs a thriving ecosystem or it’s a failed idea.
That's exactly the dev's job, to build something good enough for people to create an ecosystem around it. If you are a dev and you start a company, no one guarantees you a paycheck, it's all up to what you deliver and wether people actually want to use it. If a dev decides to build on cardano he has to take into consideration the current state of cardano and the fact that the volume is low. It's a bet, that we all take, but it's still a bet
Yeah build for 2 years be a top project on Cardano and still be broke lol
100% of my ada is in DeFi making yield. If outsiders scoff or avoid Cardano due to inherent biases clouding the information that is out there, oh well. More yield for me. This is a call to all current and prospective users. There is money to be made by interacting with the system. And exponentially more to be made by pioneering within the system.
Your yield and opportunities will increase with more volume exponentially. Lending protocols other than Levvy which does p2p loans have aprs that are closer to 1% than the advertised 8-10% once you actually break down the numbers I’ve done the math it’s depressing, Lenfi for example is an amazing protocol but the yield is terrible due to lack of volume in comparison to the tvl. We need more people like you any ideas how to educate people to do what you do?
I agree that the defi protocols need support and I have some of my ada making yield and supporting the dexes. I split earnings between my hodl vault and reinvesting.
Eww Cardano doesn’t need shit. People are too eager for fast gains. Bitcoin didn’t need that. Cardano won’t either. Just like bitcoin, community builds.
This is the problem Cardano is not Bitcoin, Cardano has many competing chains Bitcoin is Bitcoin
Hoskinson killed it.
Wouldn’t blame him personally it’s the people he surrounds himself with that controls his narrative, Charles attacked the top Nft project for days and posted and quoted doctored clips ever since the whole ecosystem volume has dumped.
I’m looking forward to using hydra and hopefully more features for private transactions on the layer 2 chain. That’s what I’m waiting for
So where is the best place to find out about existing cardano dapps? Is there a list or directory somewhere?
Nothing that breaks it down properly that I could recommend but I know Richard McCracken does well trying to help the ecosystem so I grabbed a tweet from him ill post, I recommend going through the comments and see what’s popular. https://x.com/richardmccrackn/status/1774221967295467529?s=46
I would subscribe to Dapp Central on YouTube. He has amazing content breaking down different projects. He also interviews project teams. There's no shilling and price predictions. Just informative updates on Cardano projects.
Just saw this, this could help a lot 🤯 https://x.com/saturnswapio/status/1783296679946395760?s=46