 Welcome to July set news. Take a top stories and crypto and bring it on a bite size piece. So today just the thumbnail suggests the Cardano ecosystem is here, not really here, but it's really just doing good things and kind of hitting its stride. So we're going to take a look at the three ecosystems that are really moving full force and what that all entails. But before we do that, let's take a look at a little bit of data and updates as far as what is going on in the market. So today it is Tuesday, a beautiful day here in Puerto Rico. And we've got almost 2.5 trillion market cap 2.4, somewhere in some change, you know, a couple hundred billion, whatever, but it's looking pretty good. Bitcoin's above 50. I mean, I was hopeful we'd be a lot farther away as far as December, but we got spooked. And there were some things that came about and that's really just spooked the market. And what was interesting actually for this entire market was that we really are people say we're not correlated to the traditional markets, but we really are. And I've talked about this like the last two weeks or so is that there's only one market that's open 24 seven besides 4x, which is us, which is cryptocurrency. So if you have the institutional players who are in the traditional market and they're coming over here and making their bets because there's an asymmetrical return, like Earl Powell says, you're going to see them sell off their crypto because they don't really believe in it like you and I to them. It's just, you know, a big cash grab. And that's fine. I mean, I'm not faulting them for what it is. I mean, I'm just here for the long run. But what happened is that we saw some turmoil last week, stock market went down, traditional finance went down, which carried over into our crypto space. And we've lost a boatload. So I think people either they got nervous, they got a little shaky. And then also the institutional players also played a part. And then also there was a couple of whales that made some huge cells. So today, what's going on? Well, it's looking pretty good. And as far as traditional market, it's looking pretty good for us. One of those reasons that it is, is what we talked about as far as Evergrande. People say it's Evergrande. It's Evergrande. Evergrande. Okay, sure. Evergrande. They are the sector in China, as far as they are building properties and structures, retail. And what they, unfortunately, what happened is that they could not pay back some of their loans. And there was, this was a story I wanted to cover yesterday, but I just didn't have time. And it really just talked about how they were going to restructure with the help of China. And I didn't really think too much of it. But today, that's pretty much what's going on. So as China Evergrande teeters, Beijing steps in. And I think this is kind of like in 2008, where the U.S. stepped in to buoy the banks. I think China's here to buoy this $300 billion company and all the paybacks that are going on. So just real quick, Beijing was sitting on the sidelines. Now the government is taking a more hands-on role. Evergrande said that officials from several state-backed institutions had joined a risk committee that will help the company to restructure itself. The committee, led by the CEO, will play an important role in mitigating and eliminating future risks the company set in a filing late on Monday, which I'm glad I didn't cover it because now we know exactly what's going on. The formation of a committee with an apparent government imprimatur reassessed investors. Evergrande also has more than 300 billion obligations and needs to pay back and perhaps even more off the book. So that is essentially what is going on as far as the data and some updates as far as what's going on. Again, when this spooks the traditional players, then they start to sell off and they think it's going to really just be this cascading effect globally. But hey, government steps in. And for once, I'm actually glad. So that's what's happening. Let's take a look at also just real quick some other piece of the puzzle which might play a part. This is actually from Simon Yu. He is the CEO of Stormmax and he goes, interesting perspective. I heard from a fund manager yesterday, apparently most funds have sold or in the process of selling assets because 2021 was such a monster year for everyone. They're locking in their profits for the year so they can say our fund did 700%, etc. On top of the fact that people are selling off to pay for taxes. And this is a story we covered a couple of weeks ago. CEOs and insiders are selling a record $69 billion of their stock, which to me is crazy talent because look at these prices and these gains in the stock market. Seems like no one really slows down. If we had the head of different, let's say Charles Hoskinson came out and go, you know what, I just sold 10% of Cardano. We would see a ripple effect all the way through. Or let's say Vitalik Buterin's like, I sold all my, you know, or 50% of my Ethereum, it would like crash the market. So we have these guys, these big players, these CEOs, these insiders just selling off their stocks. They're like, eh, no big deal. We'll just keep going. And so I see there's like two sides of this story. One, what Simon Yu is talking about also for taxes. So what I'm just going to tell you is this is that December is a very tricky month. I don't see huge, huge fluctuations, but it could be so just be careful. Maybe this is some time to take a little profits, maybe de-risk yourself. Now, this is not financial advice. It's just financial opinion. But I see some of the writing on the wall and it makes me wonder. But I think the big news is also what Simon talked about. One of the other articles talked about was that January, as things move forward, people are going to get back in because they have all this fresh powder on the side. And that will be interesting. So I'm going to think about that in the comments section. Let's finally get to the Aida ecosystem, which is Sunday swap. So Sunday swap, if you're not familiar, it is the first, well, first functioning decentralized exchange on Cardano and they're doing pretty good. So this is what's happening. This was from their blog post a couple of days ago. He said, we're overjoyed to announce that our testnet, again, testnet will launch on the evening of Sunday, December 5th. I need to make this very clear. This right here, a testnet serves purposes. We are expecting bugs and eager to hear about them. You can submit feedback and bug reports via this form. The big thing here is that people are kind of expecting this to go off without a hitch. That's not the point of this. The point of what Sunday swap is doing is like we're throwing a testnet and we need you guys to play around with it. Tell us what is screwing up so we can fix it. So now when we launch it, we don't have rug pulls. We don't have problems. We don't have hacks. We don't have all these different issues, which we see in other parts of decentralized finance. I think it's a great play that they're doing. And actually I went in yesterday, did the same thing. And I just went to Sunday, what is it? Testnet.SundaySwap.finance, the link in the description. And you can play around with it. They give you these different tokens and assets that you can swap and then you actually see it on the Cardano scanner to see what's going on. And it's just to see how the interface is. And it makes a lot of sense. You click right here to swap and then it'll give you like a transaction fees. There's no fees. Just you're just helping out the testnet. You hold the swap. You swap it and then off it goes and that's it. So I encourage everybody highly to go out there and try to break the system. Go in there and do as many trades as you possibly can because that's what they need to happen to see if this actually works. I will just say that I'm glad that this is going on because, let's be honest, if you're a Cardano holder, you've got to kick in the teeth. Well, like every single day, just about. And you know, you're holding a ghost chain and you're a moron for getting into Cardano and blah, blah, blah, blah, right? I hold Cardano. I've got a couple of stake pools. Works out pretty well. I don't know what's going to be the big winner. I don't think there really is a big winner. I think there's enough room for everybody. I don't think there has to be the king of the mountain. You know, as far as like, you know, there's only one Amazon. I think there's a lot of different things in play because this is a multi hundred trillion dollar asset class that we're entering into. I think there's a lot of room for a lot of people. I think this is one of those different plays. So let me just think about that in the comments section. Let's move on to Ada ecosystem number two, and that is World Mobile Token. And what did they do? Well, they did a couple of things. First of all, they're going to launch their token when Sunday Swap goes live after the testnet onto World Mobile. And you're going to be able to actually purchase World Mobile Token if you're an American on Sunday Swaps. Here's what's going on. So it just comes down here. It says Sunday Swap has agreed to work with us. This is World Mobile to help integrate a white label access portal booth on web or mobile to a DEX that World Mobile can offer to our customer base. Sunday Swap in collaboration with World Token will develop a DEX with integration and tech development for the benefit of both parties on the DEX. And this is the big thing. Sunday Swap will offer Ada and other Cardano native tokens, including World Mobile tokens immediately upon launching. The most liquid pairs will include Ada to World Mobile, Sunday to World Mobile, and Sunday to Ada. So if you're waiting and you're in one of those countries that couldn't get into the initial offering, well, here's your chance as soon as Sunday Swap goes live. So go over there and help them with the testnet and you can we can help figure it all out on top of that. Just so you know, that's as far as the scheduling for if you have gotten the World Mobile Token and were able to actually purchase it. Good for you. Here is the schedule for what's going on. You've got on December 9th at 11am. Phase two staking snapshot is taken. January 9th rewards are claimable for month one, February 9th claimable for month two and on down the line. So you can actually stake it right now and get your rewards. And on top of that, World Mobile also did this little action right here. They created a blimp because if you're not familiar with World Mobile, I should have probably said this first. I did a video on this. It's me and the CEO, Mickey Watkins, and we'd say exactly what World Mobile does. Essentially it is giving telecommunications to parts of sub-Saharan Africa and branching out throughout the entire globe. Because there are people that are just unreachable by telecommunications, internet service, phone service, and so on and so forth. They're actually going to build an infrastructure, solar panels and these mobile pods where they can actually give it across in different villages. And they've already done it in a couple of fishing villages in Tanzania and different places. So on top of that, while they're building these pods around it, they've also built this blimp, which is also giving telecommunication access to people around the area. And of course, this is all built on the Cardano ecosystem. So let me just think about what's going on there. That is the second ecosystem. Now let's get to our third. And that right there is Meld. So Meld is a pretty cool project. It's, again, did a video. I'll link at the very end. It's, and I put a DeFi banking on Cardano with loans that pay for themselves. If you want to know what I'm talking about is you don't have to pay, you pay the interest, but you don't pay the principal because it's paid through with the stick. Just watch the video. So like on this one, gosh, let me show you how long ago this was. This was five months ago and the time goes by. And then the Mickey one with the world mobile that was six months ago. Man, look at my face. It's fat. So on this one with Meld, they had one of the very few initial stake pool offerings, meaning if you went to one of their stake pools and staked your Aida, they would duly pay out in Meld tokens. And that was supposed to be given out in December 9. However, there was because of the different legalities of what's going on, because they didn't actually have a function and a utility for the Meld token. They are going to push that back to January 31 because if you know about different things as far as like legalities of utility, you have to have a utility or also security. So you have to wait until January 31 when the actual utility comes in and they're going to airdrop all your Meld tokens to the wallet that you used when you state your Cardano. So the thing with Meld is that they got really big really fast and that's some people say it's not good for decentralization. Look at all these different pools and it's like 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 pools and I think they're pretty much all maxed out. So good for them. And when I actually covered them, I knew this would happen because I lost a bunch of delegates. I lost millions of delegates over to Meld, but it's a good process for people because they got Meld tokens. That's what they want to do. That's why I talked about it. And what's happening is that the ISPO is now closed or the staking and everything had to do. Actually, they stopped the ISPO as far as getting into it in October and the ISPO is closed as of yesterday for I think it was Epic 305 or 306 and 305. And now they're saying, hey, from here on out, you can do whatever you want with your aided tokens and they're actually going to dissolve all but one, I think all but one of these different pools. Imagine this, they've already got everybody just kind of like in here and they could just keep it going. But they said this isn't good for decentralization. So we're going to knock these down. But here's what they're doing. So there was a blog post put out by my man Stuart and it was called bank managers and this came out. Yes, two days ago. And here's what's going on. So for everybody who did that ISPO was able to stake into the pools, you're going to get an NFT. And this NFT actually has real world utility and the things that you have with it is going to allow you to gain more yield when you stake your meld tokens in the meld defy protocol. Here's what I'm talking about. So they state we are thrilled to announce our first NFT collection meld bank managers. The meld ISPO was a huge success. The way to show our gratitude is a token appreciation. We created 40,000 unique NFTs, each having their own unique evolution process and rarity. These NFTs when evolved, I'll get to that in a second will provide greater APY up to 5% more up to 5%. It's good to get in early. Once they can meld the meld protocol, every ISPO participant will be eligible. I'll say it again, every ISPO participant will be eligible to mint one bank manager NFT per wallet shortly after the ISPO ends for only $3 worth of data. And that's it just got done right now. So how does this work? Come January 31st, users are able to stake meld directly onto the meld protocol to earn meld. Again, that's why I've been having January 31st to give it utility. There will be a place within the meld protocol. Users can deposit their meld bank manager NFT to increase the yield generated on their stake meld. My question was, well, where is this NFT coming from? Where is it actually going to? And from what I can gather, it's going into the wallets. So the same place they're going to send your meld tokens, which is the wallet that you use, your Karuna wallet, which is that's a deadless Yor-Roy or Adelite. They're going to send the meld tokens to that wallet. It's all on the blockchain. And they're also going to send the NFT to that wallet. That is what I understand. I could be wrong. Let me know in the comment section. This is what the information that I have right now. So on top of that, to finish up, banks manager evolutions. This is the pretty cool part. At first minting, everyone will be received receiving a meld bank vault. Holders of the NFT will be able to form tasks that we set out for the community, which will provide greater utility. As you perform the tasks we set forth, your bank manager will evolve, providing greater utility and increasing the visual rarity. So this is the bank vault. So for first level plus one bank manager apprentice, and there's different levels, plus two, plus three, plus five, right? And then it says, how do you evolve your bank manager? When an NFT holder performs a task, their NFT will evolve into the next evolution, getting you into the higher, higher yields, greater protocol utility, as well as a new bank manager visual. Stay tuned for the next bank manager article. Thankfully, I got it. And it's right here. So bank managers first evolution. Here's what happens. That's probably evolution process. Holders will have to be delegating their ADA to another stake pool or featured pool after the meld stake pools closed down. Again, like I talked about, they don't want to keep all 10 of these open. They don't think it's good for decentralization. Great. So how does that work? So there's featured pools. You will still be able to evolve your NFT, regardless of whether you're delegating to a normal pool, ISP, or one of these on the list. But these are the ones that are recommended. And watch your toes drop in names. Digital asset news. And of course, you got Pete and Cardano and other featured pools right here. But sure, whatever. But yeah, look, that's what is going on for everything as far as the ecosystem. And I will just say this. It's a good time to be in crypto in general. And I know some of you will hate Cardano. Some people love Cardano. There's not too many people in the middle. It's like a lover hate type of thing. But again, it's just an investment. Don't get too emotional about it. It is what it is. I think it's going to do pretty well. And that's how I see things. So look, I know I'm a little bit long. A lot of things going on. But if you like this video, give it a thumbs up. I'll consider subscribing a lot of things we talk about are time sensitive. That's it for today. So thanks so much for watching. I appreciate it. I'll see you in the next one.