How many times has the market started recovering, but ADA price stays flat? Many. Some traders thought that with the Chang Hard Fork upgrade, Cardano’s token would start moving, but we haven’t seen that, at least not yet.
The ADA price is trading around $0.34, up only 0.5% today. All other altcoins in the top 20 had a bigger pump today.
One lesser-known trader, Am_Panic, shared some concerning observations about the post-upgrade landscape. According to him, the Chang Hardfork has led to a series of issues within the Cardano ecosystem. He reports seeing developers abandoning ADA projects, instances of code and idea theft, and complaints about various platform features.
The community seems to be in a state of constant disagreement, arguing over trivial matters and criticizing other blockchains. Am_Panic suggests that this toxic environment might be deterring potential newcomers from engaging with the Cardano community.
Frankly, the Cardano Chang Hard Fork upgrade was not a disaster, but it did face some delays and challenges.
The Chang Hard Fork, originally scheduled for late August 2024, was postponed to September 1, 2024. Charles Hoskinson, Cardano’s founder, attributed this delay primarily to centralized exchanges like Binance needing more time to prepare.
The Chang Hard Fork is considered a crucial step for Cardano for several reasons. It initiates the Voltaire era, focusing on community-driven governance.
This upgrade introduces on-chain voting capabilities for ADA token holders, establishing a foundation for a decentralized decision-making process. The shift from centralized control to a decentralized governance model presented its own set of challenges. For example, including the need to establish new governance bodies and ensure a smooth transition of power.
Read also: Whales Massively Buying Solana! This Trader Predicts Where Is The SOL Price Headed Next
Here’s One ADA Alternative to Consider
We’ve been talking a lot about PandaWorld recently, and it’s for a reason. This is a meme coin with some real utility and use cases, something we don’t often see in the meme coin sector.
PandaWorld is built as a P2E (play-to-earn) gaming platform that includes a casino, content hub, and other revenue-generating components. The native token of the platform is called PADW. It’s currently in the presale. Holders can stake their PADW tokens to earn a share of the revenue generated by the platform’s various components.
PandaWorld aims to stand out from other meme coins by offering real utility through its P2E platform and ecosystem, providing passive income potential through revenue sharing, having a deflationary token model, and building a more comprehensive platform beyond just a token.
Token holders can stake their PADW tokens in the PandaWorld ecosystem. By staking tokens, users become eligible to receive a share of the revenue generated by the platform.
PandaWorld generates revenue through multiple components of its ecosystem: P2E (play-to-earn) games, casino, content platform, and other revenue-generating activities. A portion of the revenue from these sources is allocated to a central pool.
The revenue collected in the central pool is distributed among stakers based on their stake in the ecosystem. This allows PADW token holders to earn passive income while their tokens remain staked.
All in all, PADW might potentially be the next big meme coin as we approach Q4 of 2024.
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