@phil_uplc People don’t care about PoA. Not really. They care about Midgard. Maybe more than you give them credit for.
And since there’s been no coms, they defaulted to PoA.
We would all love an update on Midgard.
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cardano_wolf
1.2K posts
cardano_wolf
@wolf__nomadic
Member of the Cardano network state | Midnight is cool too | Not a big Tweeter
Sumali Şubat 2022
1.5K Sinusundan239 Mga Tagasunod
cardano_wolf nag-retweet
All work up to milestone 5 is completed and delivered, we just haven’t had the time to submit the milestones yet. The project is progressing without any delays with respect to the proposed timeline. All of this public discourse is because we haven’t bothered to go submit PoA to collect the milestone payments yet because we are more concerned about delivering a good product than about acquiring the funding quickly.
We understand now that to the community this milestone board represents actual progress and not just “amount of money collected and amount of Google Docs sent to collect said money” and so we will be submitting all Proof of Achievement documents up to milestone 6 over the course of the next two weeks.
Deposits, withdrawals, in-L2 transactions are all fully functional; our fork of Lace has full Midgard support implemented, and allows you to seamlessly transition between your Cardano funds and Midgard funds, as-well as deposit and withdraw directly in wallet.
Happy to provide further clarification.
Cardano YOD₳@JaromirTesar
It seems some devs may still be willing to continue work on Midgard, provided there is clarity around funding. It seems that several milestones have not been delivered. Funds remain with Intersect. Let's ensure devs are paid. If helpful, I'm willing to facilitate a discussion.
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cardano_wolf nag-retweet
Treasury doesn’t lack funding. So why are there delays for something as important as Midgard? This should be addressed asap and fast tracked.
FluidTokens@FluidTokens
Given recent developments in how the Midgard protocol has been managed, we have decided to pause further contributions to the project. This is not the outcome we expected, and it does not reflect how we operate on Cardano. Nonetheless, we wish the best for @midgardprotocol and everyone working on it.
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cardano_wolf nag-retweet
FluidTokens announced the first atomic swap between Cardano and Bitcoin on the mainnet.
50 ADA was swapped for 0.0001 BTC.
An atomic swap is a peer-to-peer exchange of two cryptocurrencies between users on different blockchains.
It ensures that neither party can cheat the other, although successful completion depends on both parties acting within a defined time window.
▪️They swapped ADA for BTC without using a bridge
▪️Fully non-custodial
▪️No middleman
▪️No wrapped tokens, native asset for native asset
How does it work?
They used a script-to-script swap.
A script-to-script swap is a cryptographically enforced trade.
On the Bitcoin side, hashed timelock contracts (HTLCs) were used. The same primitive is used in the Lightning Network.
HTLCs allow two parties to lock funds using a cryptographic secret.
Once one party reveals the secret by claiming funds on one chain, the other party can use it to claim funds on the other chain.
This enables trustless atomic swaps across blockchains.
Flow:
Alice generates a secret S and computes its hash:
H = hash(S)
The hash H acts as a cryptographic commitment to S.
Alice locks BTC into a Bitcoin HTLC script. The funds can be redeemed only if:
▪️the redeemer provides S such that hash(S) = H
▪️provides a valid signature corresponding to Bob’s public key.
Therefore, even though Alice knows S, she cannot redeem the BTC.
The script also includes a refund path: after a timeout, Alice can reclaim the BTC.
Alice shares only the hash H with Bob.
Bob verifies the Bitcoin HTLC and then locks ADA into a Cardano Plutus script using the same hash H, but with a shorter timeout.
Alice redeems the ADA by revealing S.
Bob observes S on-chain and uses it to redeem the BTC.
If Alice does not redeem the ADA, Bob can reclaim it after the shorter timeout.
If Bob does not redeem the BTC, Alice can reclaim it after the longer timeout.
The time window must be large enough for Bob to safely act after S is revealed.
Atomic swaps are not new. The first swap between Bitcoin and Litecoin occurred in 2017.
Bitcoin and Litecoin share a very similar scripting model, making interoperability relatively straightforward.
In contrast, Cardano and Bitcoin have fundamentally different architectures. Despite this, the team achieved a cross-chain swap purely through scripting, without using a bridge.
Atomic swaps must account for the slower chain’s block time and potential reorgs, which makes timing design non-trivial.
Congratulations to the team on this achievement.
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cardano_wolf nag-retweet
We just performed the first Atomic Swap between Cardano and Bitcoin in Mainnet.
This means native BTC was traded for native ADA.
0.0001 $BTC swapped for 50 $ADA
Bitcoin is on Cardano 🧡 ↔ 💙
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@luvblackstarr What’s up with Naruto fans attacking One Piece these last few days? Instead of the lame pettiness, why not enjoy both series?
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One Piece doesn’t have a single moment as emotionally impactful as this
𝙅𝙀𝙎𝙎𝙀 💫@Unariel_
Naruto is carried by nostalgia, They have literally no good story or emotional impact compared to One piece.
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@planetmaaz @midgardprotocol I hope we get to hear more about Midgard soon.
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WHERE IS MIDGARD?
@midgardprotocol bro plz, Cardano needs the optimistic rollup framework it funded, delivered.
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cardano_wolf nag-retweet
In 🇺🇸, stablecoins (with no privacy) are losing yield to banks.
In 🇬🇧, banks are putting the bank account and yield (both with privacy) directly on-chain.
Midnight is playing a different game. $NIGHT
Midnight Foundation@midnightfdn
Midnight 🤝 Monument Bank Monument is set to become the first UK-regulated bank to tokenize retail customer deposits on a public blockchain — representing interest-bearing savings as digital tokens while remaining fully backed, redeemable in GBP, and protected under existing regulatory frameworks. Built on Midnight’s privacy-enhancing blockchain infrastructure, this approach ensures that transaction data remains shielded and accessible only to authorized participants — enabling the use of blockchain technology while maintaining the confidentiality and compliance required in regulated financial services. The initiative begins with a target of £250 million in tokenized deposits and represents the first phase in a broader rollout to expand access to tokenized financial products. Over time, this includes enabling exposure to asset classes such as private equity and structured products, and introducing more flexible lending models — capabilities historically reserved for institutional and private banking clients. Together, this partnership demonstrates how regulated financial institutions can bring traditional financial products on-chain — unlocking a more flexible, accessible, and programmable financial system without compromising privacy or regulatory standards.
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@planetmaaz Good.
Any update on the Defi liquid end of things? Are you aware CF’s timeline?
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@Merrydawg He is referring to the pacing of the story, not Luffy's powers.
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Ugh. Seriously? I was excited about the One Piece remake, but this just ruined that. Why do they always have to change things? Why can't they just follow what the original work does? How is One Piece gonna be One Piece without the stretching? How do they expect that to work? How's Luffy even going to fight people if he can't use his devil fruit power?
Pew@pewpiece
🚨 WIT Studio CEO George Wada : The OnePiece remake will have no pacing issues, with modern animation and no unnecessary stretching.
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@cryptoavgvstvs @Globku As for the story and the characters... if you don't like them, then that's your preference. Nothing's wrong with that.
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@cryptoavgvstvs @Globku Combat is about animation. The OP anime is old, so its animation is dated. Plus it's release was weekly.
It's tough to keep quality up like that. (Plus, the pacing is horrible)
WIT studio is working on a new adaption to address these issues. Maybe you'll like it.
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Finally caught up with One Piece.
Egghead was insane. Probably my favorite arc so far. Crazy how this show just keeps getting better.
That said, this feels like a good time to drop the anime. The pace really kills it for me. If any hype animation moment happens, let me know!
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cardano_wolf nag-retweet
cardano_wolf nag-retweet
Of course!
Here are a few details:
- Most of the community has met us in person
- We have been one of the most vocal teams for Cardano in all major crypto events
- We have been doxxed since the very beginning
- Fully open source smart contracts
- We have launched the Cardano-Bitcoin narrative
- We personally answer to DMs and discord tickets
- Our platform is the result of countless feedbacks from the community
- We have a team vesting period of 10 years
But @jayedii is right, don't trust us, verify! 🤓
Jayedii 🔺Ⓜ️🕸️@jayedii
Word of caution. @FluidTokens is making a lot of progress by way of the @liqwidfinance fall out, but don’t be complacent. Just because they seem like a better alternative and are supporting our favorite project (@IagonOfficial) doesn’t mean we blindly fall into another situation!
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cardano_wolf nag-retweet
Emurgo should be excluded from Pentad. I urge @IOGroup, @Cardano_CF, @IntersectMBO, and @MidnightNtwrk to take this issue seriously and look into it closely.
Despite the community’s concerns, they haven’t updated the Yoroi UI, nor have they announced any plans to do so.
As the market grows, the governance delegations toward Emurgo and Yoroi could become even larger than they are today.
If that happens, it may become impossible to reverse, and Cardano governance could end up being used as a tool for the private interests of specific organizations, just like what happened with EOS.
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cardano_wolf nag-retweet
What is not attractive for investment into ADA or its ecosystem is a founding entity attempting to consolidate governance influence, while users of its products are guided into delegations many do not fully understand.
That undermines the very principles Cardano was built on.
What is attractive is watching the community recognise the issue and say clearly that this is not acceptable. Governance was designed to be distributed, not quietly concentrated.
No founder, company, or wallet provider should hold disproportionate control over the direction of the network.
Operation Emurgo.
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cardano_wolf nag-retweet
They are clearly misleading the community and appear to be using governance power in a way that benefits the potential interests of @emurgo_io and @YoroiWallet.
I think Cardano governance is starting to resemble the collapsed governance we saw with $EOS.
The screenshot I captured shows the issue clearly. When you click the Governance tab on the left, the interface immediately prompts the user to delegate to Yoroi. For an average user, the natural action is simply to delegate to Yoroi. This is, in my view, a clearly improper way of inducing delegation.
Delegation is meant to be a conscious decision where a delegator entrusts their valuable voting power to representatives whose governance views and vision for the ecosystem align with their own. However, delegations formed through this kind of interface do not reflect that intent at all. Despite this, they continue to insist that there is nothing wrong with the current structure.
In reality, the structure of blockchain systems is still unfamiliar to many users, and a large portion of users do not deeply understand Cardano governance. Yoroi is effectively leveraging this reality, nudging wallet users toward delegation regardless of whether that reflects their actual intention.
Simply put, they are using the wallet infrastructure itself to steer delegations in a biased way. The more serious issue is that the voting power accumulated through this process is then exercised as if it genuinely represents the will of those delegators, allowing them to wield enormous governance influence.
Through this mechanism, Yoroi has accumulated approximately 715M ADA in delegated voting power. When combined with 298M ADA from Emurgo, the total exceeds 1B ADA, representing more than 17% of the total governance influence. This is not just significant influence, it is a level of power that can fundamentally undermine the integrity of the governance structure.
The fact that they continue to defend this structure despite widespread criticism from the community strongly suggests that preserving governance power serves the potential interests of their organization.
From this perspective, I will be closely monitoring and thoroughly scrutinizing any governance activities or ecosystem initiatives that may benefit Emurgo and Yoroi. As a member of the community, I will continue to speak up about these issues.
History has already shown us what happens when governance power is accumulated improperly. The case of EOS demonstrated how governance structures can collapse when organizations consolidate power to serve their own interests.
What we are seeing from Emurgo and Yoroi today looks dangerously similar to that pattern being repeated within Cardano.
If we allow this behavior to continue unchecked, Cardano governance will ultimately be used to serve the private interests of specific organizations, and the system itself will collapse, just as we saw with $EOS.
Yoroi W₳llet@YoroiWallet
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