Binance Smart Chain Will Provide Cardano Liquidity Mining

by in Cryptocurrency News

Venus Protocol adds Cardano

Venus Protocol, running on Binance Smart Chain will allow Cardano’s native coin ADA owners to perform liquidity mining through its network.

Related: Bitcoin miners earned over $4 million in just an hour

Venus is a decentralized money market with a $2 million total value locked. As reported in a roadmap published on February 14, the market would add ADA and enable its borrowing and lending as collateral.

Many other crypto-assets and stablecoins are already listed on the Venus network. Among them are Eth, BTC, Bitcoin Cash (BCH), and others.

Since the beginning of this year, ADA has seen a 400% price increase and now trades at around $0.83. It ranks fourth by the amount of market cap which stands at around $26 Billion at the moment.

It's worth mentioning that the Cardano staff is preparing to launch its own liquidity protocol named Liqwid Finance. Now they are working on the project Goguen, which will replace the previous Shelley protocol.

The Goguen mainnet is supposed to be launched around March 2021. It will offer wider interoperability with other smart contracts and bigger technical capability for DApps developers.