Cardano TVL up 565,000%, Snoop Dogg praises ADA blockchain

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  • Cardano’s Vasil upgrade is fast approaching.
  • Cardano inspires Snoop Dogg’s son to release new music album.

Aada finance, a noncustodial lending protocol on the Cardano mainnet, saw a remarkable increase in total value locked, according to the latest DefiLlama data. As of this writing, Aada Finance’s growth over the past seven days has reached an astonishing +565,873%. Aada finance is the very first platform where it is possible to lend or borrow native Cardano assets. It went live a week ago (September 13) after several months of using the public testnet.

The Aada team said they chose to launch the platform before the highly anticipated upgrade because Aada’s V1 protocol aligns with the pre-Vasil hard fork sentiment. Cardano’s TVL fell slightly by 1.19% in the past 24 hours to 79.58 million (unstaked). But with the inclusion of staking, the TVL would reach 97.9 million.

Total value locked (TVL) is the total value of crypto assets available on decentralized finance (DeFi) protocols. According to data from DefiLlama, Minswap is the largest decentralized Cardano exchange. Minswap has nearly $41.47 million in TVL and a market dominance of 42.36%.

Cardano has announced that the hard fork combiner event for the Vasil upgrade will take place on September 22. However, the Vasil feature will go live on September 27, a time after the hard fork. The Vasil upgrade aims to improve the performance, interoperability, functionality and scalability of the blockchain by adding new enhancements and features.

Additionally, Vasil would facilitate access to information stored on the blockchain without the need to spend and recreate UTXOs (Unspent Transaction Outputs), as was the case before. Recent IOG updates indicate that the developers are already creating 99% of mainnet blocks with the Vasil node (1.35.3). 8 of the top 12 exchanges and top Cardano DApps have confirmed that they are ready for the Vasil upgrade.

Snoop Dogg’s Son Releases Cardano-Inspired Album

Champ Medici, son of legendary hip-hop artist (Snoop Dogg) and avid crypto advocate, has released a long-running playlist (EP) titled Clay Nation tapes, Vol. 1. He dedicated the album to Cardano’s main NFT project, Clay Mates and the Cardano blockchain as a whole. This is Champ Medici’s first official outing since joining the clay-court team last month.

Champ Medici expressed his bravado and enthusiasm about his crypto experience in all three tracks on his new album. The artist sang about his dreams of prosperity as a Cardano investor in ADA dreams (the first track of the album). Additionally, his father, the legendary Snoop Dogg, made an appearance on the track, rhyming about the change that cryptocurrencies and blockchain will bring to the world.

In another track titled manifesto, the artist said he would keep his Cardano investment and not listen to the news to avoid confusion. Champ Medici expressed his ambitious personality in the final track of the album, singing on NFT collections and buying his dearest wife. Based on the title of this album (Clay Nation Tapes Vol. 1), it is likely that Champ Medici would release further companion albums under this label.

The release of the album coincided with the September 9 anniversary of the Clay Mates project. The studio claimed that more than 4,200 people took ownership of the digital art collection throughout the year, and the project’s secondary market revenue was over 25 million ADA.

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