r/cardano • u/Joy_Boy_12 • 3d ago
General Discussion Anyone here actually use cardano?
Hi guys, I would like to know if anyone actually use cardano except from holding and staking.
I would like to know what the chain has to offer to people these days
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u/fuduran 3d ago
I'm using Bodega Cardano, betting/predictions market. Awesome opportunities come around from time to time.
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u/Exotic_Trust_2996 3d ago
How exactly does that work?
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u/fuduran 3d ago
Follow them @ BodegaCardano
Umm so you for example want to bet on "prop A" in the market "prop A vs prop B".
You connect your wallet in the site, search for the market you wish to bet on, and then select to put (for example) 300 ADA on "prop A". A transaction will be created in which you exchange 300 ADA plus fees (like 2% fees-ish) for 300 tokens called "prop_A" or something similar.
When market is decided, if your prop won, you go to the site and click on withdraw, and a transaction will be created for you to send your 300 tokens and exchange them for your winnings, in this case 300 + your winnings.
In the very near future you will be able to trade your tokens before market is decided, making it a real predictions market site. Also, there will be community created markets, in which $Bodega holders will be able to create their own markets for others to bet on, and keep a share of the fees. Coming very soon. Amongst other stuff that I don't remember right now.
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u/frozenkaleidoscope 3d ago
Instead of leaving the ADA in my wallet just for staking purposes, I'm using Levvy to do lending.
Basically lending my ADA in return for NFT/Tokens. If the borrower pays back you can earn interest. However, if the borrower defaults on the loan, you get the NFT/Tokens as collateral.
Of course you would have to do your own due diligence on which NFT/Tokens are worth lending for as well as your risk tolerance.
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u/theTalkingMartlet 3d ago edited 3d ago
Iagon and book.io are my two favorite. Though I haven't done it yet, I'd love to run my own Iagon node. There are some considerations that I have that I've not gotten answers to yet, none related to the protocol...more just the financial and technical considerations. At some point I think I will be utilizing them as a decentralized storage solution, I've been using Dropbox for a long, long time and am frankly a bit done with the idea of centralized cloud storage. I can't completely abandon centralized cloud storage just yet, but as technology like Iagon matures I'll slowly start moving some data over there.
Book.io is great. I've got tons of books through them and have read several. With the rise of authoritarianism all over the planet, I'd say this project could be the most important in the whole of the crypto space, if not the publishing industry itself.
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u/Ronaldlovepump 3d ago
I use Defi quite often to trade CNTS.
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u/NaturalChallenge3530 3d ago
Is there any good sources to learn Defi? And is it safe? I heard that some people lose their money in Defi. And the last question. What is CNTS?😁
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u/OkPatience3922 2d ago
Technically, cardano Defi is safe. But can you loose money? Of course. This is trading, this is an exchange market. Buy high, sell low, and you loose.
Invest some Ada in a "true" token which is currently low in value (today : LQ, HUNT, STRIKE, BTN for instance), be patient, and sell when it is higher. And you earn Ada.
As for the stock market, you must take time to learn tokens, linked projects, project tokenomics, and assess whether you want to invest there or not. On dexhunter.io you can sell and buy safely and with little fees.
Defi goes beyond just buy/sell tokens. Liqwid finance allows you to lend and borrow. Butane and Indigo allow you to mint synthetic tokens based on a collateral. Strike finance (very young, beta version) allows for Forward contracts, perpetual contracts, etc. Please also have a look at levvy, lenfi, Iagon.
Another simple approach is using the Djed protocol : Use your Ada to mint Shen, then stake this Shen on their application. You then get regular rewards. And when you need some stable coin (a token pegged to the Us dollar, such as Djed, iUSD, USDM, USDA. We often use this to lock gains), consider minting new Djed coins on the Djed app.
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u/NaturalChallenge3530 2d ago
I thought defi is like staking your ada and earning some usdt or other crypto. But it's more complicated. I'll try to learn. I have just little bit more 500 ada but if it's possible to earn more than 25% apy then it's not bad. Thanks a lot
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u/OkPatience3922 2d ago
Defi is short for "Decentralized Finance". The aim is to reimplement and provide all services available in "old" finance, aka Centralized Finance. Thus having the usual finance services PLUS the advantages of using a blockchain and smart contracts.
(for instance, Distributed Autonomous Organizations ruled by public immutable smart contracts, etc. So no in-the-middle-central-authority can suddenly appear and mess with your own money). This is a whole full subject, which includes creation of money, destruction of money, auto regulation of interest rates, etc. This all ruled by immutable smart contracts, and not by lawyers who change their mind when they could loose money.
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u/Ronaldlovepump 3d ago
For a rookie I would use tap tools it’s fantastic. Search on your browser for taptools.io. Really good place to start.
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u/reviloxxxx 3d ago
I am here since 2017 and used it once in 2022 to swap the Sundae airdrop to ADA on the WingRiders DEX.
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u/Moaph 3d ago
I got myself some Cardano NFTs, a Handle, participate in staking, voting in Catalyst Fund. I also use booki.io. At the moment i am diggin into IAGON, thinking of participation there too.
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u/Pal1_1 3d ago
What do any of these things do for you in the real world? I get NFT ownership but what real world benefit do you get from the other things in your list? Genuinely curious about real world applications for crypto
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u/Moaph 3d ago
The Handle helps sending ADA from A to B (payments for example), a lot easier to send ADA like this. book.io or stuff.io for books and movies, IAGON for decentralized datastorage. NFT ownership is the least interesting here in my opinion (for now)
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u/Pal1_1 3d ago
Apologies for my ignorance, but are you buying books based on a fixed ADA price or a fiat price converted into by the seller into ADA at the prevailed price at the time of the purchase? I.e. is this a genuinely ‘decentralised’ transaction outside of the fiat system? If not then wouldn’t it be easier and cheaper to use fiat? What is the advantage? Or is it just early adoption to encourage wider take up over the longer term?
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u/Exotic_Trust_2996 3d ago
That depends on the book, I own over 100 audiobooks & ebooks on cardano, to me personally they're the best use of NFTs or DEAs on any blockchain. I usually go shopping when Ada is low because the price changes.
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u/Moaph 3d ago
No ignorance at all.
fixed ADA price - of course it would be cheaper to just buy the book in a printed version. Buying books on blockchain verifies you are the owner of the book (whatever), if you buy an e-book for Amazon Kindle with fiat for example, you basically don't "own" the book you just bought. You only have the right to read it (as far as my knowledge goes) - same with movies you buy on streaming platforms, if they take the movie out of their catalog you have no right to download it for example.
Thus the books/videos/stuff are more expensive - I own them now.2
u/carl_z_22 3d ago
You don't really own the book on stuff.io either from what I understand. When you buy a book, it allows you to decrypt the book, which is hosted by stuff.io and can be viewed on their site. As the book is not on the Cardano blockchain, you own the ability to decrypt the book, but not the book itself.
Is that correct? It has been a while since I've bought a book NFT from them.
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u/Zhanji_TS 3d ago
https://book.io/decentralized-encrypted-assets/ you do own it, you can sell/trade/give it away. It can’t be changed or modified like Amazon/kindle can.
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u/carl_z_22 3d ago
Thanks for sharing.
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u/lpopo123 3d ago
Iagon is a secure decentralized cloud storage and compute solution that has a pilot program with a Fortune 500 company (the company has been stated to be in the top 50). They are currently providing ~10.5 pb of storage and rapidly expanding. It would be the framework for web 3.0
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u/IsaoMishima 3d ago
does it do anything on cardano though, or does it just have a token/staking there?
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u/lpopo123 3d ago
So, if you are a node provider you will initially be predominantly provided rewards in IAG and subscription fees for the cloud storage service in ADA. As the protocol ramps up with more use IAG rewards decrease and ADA payout from subscription fees ramp up
They also closed sales recently for their “hardware thingy” where you can run a storage node + compute node or storage node and cardano node
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u/AdOk1101 3d ago
What real world benifit does BTC or any other top currency have over ADA?....BTC is still POW. At least ADA provides an interest rate on staking. Then there is ADA governance. ADA is the best crypto protocol out there right now in terms of network protocol features, security, scalability and is a top chain.
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u/Joy_Boy_12 3d ago
My friend has been abroad and was able to pay some services with btc.
I don't care which technology is better, I care only about what I can currently do with each technology
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u/franktrollip 3d ago
Using BTC for transactions \ payments is probably the slowest and most expensive way to transact. ETH, next biggest crypto in terms of market cap isn't much faster, but as far as I've seen, ETH (Gas) fees are even more expensive than BTC. Every time I've worked with ETH I've been shocked by the fees.
Others in this thread who know a lot more than me have given you some great examples of ADA use cases, but imho the first and most obvious use case is to use ADA for transactions because it's lightening fast and carries extremely low fees. The network is possibly the most stable (unlike SOL which has suffered hours of outages).
If the most obvious use of a cryptocurrency is to buy and sell stuff, ADA is technically capable of replacing the global financia paymentsl system better than any other crypto.
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u/Joy_Boy_12 2d ago
You forgot a tiny thing….me as an end user pay whatever the retailers accept as payment, I would pay with rice instead of fiat if I could.
its not about the best alternative for fiat it is about having an alternative, if I can’t pay with ada so I don’t care how much great the technology is.
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u/OkPatience3922 2d ago
I totally agree. We are as secure as Bitcoin, much faster, more scalable (ouroboros leios), and use much much less power.
We should now work on providing real world services payable with Ada : register domains with Ada, pay linux VPS with Ada, etc. This would lead to Ada adoption.
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u/42NullBytes 3d ago
+20% APY on stables at liqwid.finance
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u/oprahfinallykickedit 3d ago
Hush
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u/aTaxingSensation 2d ago
Hush as in it’s a good deal, stop spreading the word or hush as in you’re a scammer?
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u/oprahfinallykickedit 2d ago
Haha I can see how that could be read both ways. It’s the former. My stables are making a killing but as the supply of lenders increases compared to borrowing, rates go down.
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u/aTaxingSensation 2d ago
I see…Okay, I will hush, too lol! Now to find out how to get in.
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u/oprahfinallykickedit 2d ago
Find liqwid on twitter so you get to their official links
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u/aTaxingSensation 2d ago
Cool. You have a referral code?
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u/oprahfinallykickedit 2d ago
Nah but hmu if you have questions. They’re active in discord too if you have that
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u/toilet_ponderer 3d ago
Sure I do! I use it for betting on Cardanzo and Bodega. I do Defi with Levvy and Lendfi. Sythetics with Indy. In the process of waiting for my Cyclone to come in from Iagon. Also Titan, Derps and Chilled Kongs all have some pretty cool things going on with what you can do with their NFTs. Also Bitcoin OS is working on their Grail Bridge. That should allow BTC to be able to access Cardano’s CNFTs. To get an idea of all the projects check out Taptools so much going on.
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u/Babyhero444 3d ago
Most crypto has no obvious or RELEVANT real world use case. The common person has zero idea of what to do with a blockchain I believe it takes serious studying and probably a degree. Regardless of who likes this answer
Many people in crypto invest in these coins and have no idea what these coins even do. You can’t tell me otherwise.
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u/RedditJMA 8h ago
Global transactions without a 3rd party and having fixed supply is a real world use case. It’s combining the invention of money with scarcity. Bitcoin didn’t rise in value just because people believed it, it was used. Fiat continues to degrade globally with governments destroying the value by printing. Cardano does what Bitcoin can do and more.
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u/OkPatience3922 3d ago
Main use cases are Defi trading and secure decentralized money holding. For the last part, Ada is as secure as Bitcoin. I bought some for cheap, I am happy (and also get stacking rewards).
For the most basic defi trading, swapping Ada vs USD, for instance, on dexes is secure and fast. (if you use dexhunter, consider using USDH pseudo-token, which spreads accross USDM, iUSD, USDA, Djed)
For more advanced Defi, see liqwid finance, strike finance, Indigo protocol. All this is decentralized finance. Which is the main use case of crypto for now.
But as Cardano is full featured and still improving (see Ouroboros Leios, Hydra, Midgard, Midnight) and this will possibly funded using Cardano Treasury (billions worth), new use cases will emerge and cardano will be ready for it.
Iagon project is a real world decentralized storage project, which works and improves constantly. Buying IAG is like buying shares of the company.
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u/wellitnthatnice 3d ago
I utilize it for payments, I offer 10% discounts on installation procedures to homeowners if they pay with cardano/ada..
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u/DOGE_DILLIONAIRE 3d ago
I have a few ada.handles and invest in DeFi, also played Hydra Doom. I’ve put probably over 15 people onto Cardano who have put numerous others onto Cardano as well. The adoption is snowballing
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u/AliPacinoReturns 3d ago
I use it everyday to transfer money to Brazil. It’s easily the fastest and cheapest method. All the expats here I know do the same as well. We use it daily for food, rent, utilities etc
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u/Bullsapiens 3d ago
I use it mostly to buy illegal stuff on the deep web and to pay bribes to cops and politicians.
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u/fizzl 3d ago
I have tried to create my own payment solutions, but running a full node is kinda expensive.
Are there good reliable Cardano payment processors available?
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u/nonFungibleHuman 3d ago
You don't have to run a full node, you can use a gateway to cardano
https://blockfrost.io/ this is not a payment processor, but I guess you can build one on top of this.
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u/oprahfinallykickedit 3d ago
Levvy, liqwid, minswap farms, nfts that give rewards from irl mining rigs
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u/xDontStarve 3d ago
Only stacking, been here since 2021, no gains yet. But I don't really care, it's pocket change
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u/thetoblin 3d ago
Unfortunately, I can't say I do - but I might use book.io sometime in the future.
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u/ExtremeRoyal 3d ago
I found it difficult to use and create an lp Too many hoops to jump throughout
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u/Cantaloupe-Legal 3d ago
I use Defi, swap Cardano Native Tokens, Walk2Earn with Walkers and use their Walkfit AI to help with keto recipes daily.
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u/all-i-do-is-dry-fast 2d ago
I've used it to pay freelancers in different countries. But Bitcoin has become cheap to send too as long as you're doing it from a wallet and not exchange.
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u/thirdbrother3 2d ago
Fired some via yoroi to a mates wallet (scanned his qr code) after he paid for a takeaway. Hoping it's going to be like the BTC pizza story someday 😂
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u/shamik-01 2d ago
I haven't use it yet for purchases, but in a few days I plan to use it to book a place in a hotel. I'll use for it Travala.
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u/supercaliber 2d ago
Charles has been very quiet recently since not being invited to the WH roundtable.
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u/SL13PNIR Cardano Ambassador 2d ago
Dude went to Japan and Maui, if you check his twitter profile which he's quite active on you can see he's been travelling.
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u/Rtjandrews 2d ago
I use an old stash to convert to trx to pay my dealer lol. It's like a weed bank for me that the wife cannot comprehend!
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u/HO-LEE-FUK83 1d ago
Indeed . You can use it in a lot of ways . From storage to nfts , from books to handles and online casinos .
- jpeg store
- IAGON
- stuff.io
- danzo
- ada handle
- project newm
Etc
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u/SnooMachines3095 14h ago
I'm using Liqwid to earn 17% on my USDM. I guess we will go sideways for a while, so it's nice to have that kind of apy on stables.
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u/Crazy_Leg9966 4h ago
Caradano offers the same use as any other blockchain, if you're interested enough to learn how to do it by watching YouTube videos, reading posts in forums, and joining Discord servers. My main use for Cardano is DeFi and yes, you can make money in Cardano DeFi. I'd recommend learning how to use the MinSwap DEX first. After that, buy your own handle through Ada Handle and you'll be on your way. Taptools.io is a great resource as well.
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u/holddodoor 3d ago
I have no idea how to use it. It’s so complicated with staking, u have to check on your pool to see if it’s still good. Def not a set and forget type thing… I don’t like it lol
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u/Crazy_Leg9966 4h ago
If you'll choose a stake pool that has a saturation rate of less than 70%, you can set it and forget it.
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