Tangent and ADAO Partnership
Hello Tangent Family,
We are excited to announce a partnership with ADAO, in the development of the Tangent DeFi & NFT Farming platform and our intention to use their Summon DAO-as-a-Service tool to power the TangentDAO in the future. ADAO and Tangent share a common vision by both believing self-governance will be instrumental in growing the Cardano community and both parties are committed to open-source tools and pursuing decentralization. By working together for the mutual benefit of the Cardano community, we can share expertise and help build and refine open-source repositories for future projects to utilize. To begin with we will implement ADAO’s robust open-source staking code within our Yield Farming & NFT Staking application to provide dynamic APR% staking rewards to farming pool participants.
ADAO is a DAO (decentralized autonomous organization) operating on the Cardano blockchain that builds open source tools to support DAO infrastructure, empower the community, and promote decentralization throughout the ecosystem. ADAO like Tangent are committed to open source and decentralized software development. That means code that can be seen, modified, and distributed by anyone. Do we hear the sound of the Cardano Open Source Alliance in the making ?
But what is farming and staking? Farming is a term given to timed rewards released to liquidity providers or token holders who stake their holdings in a farming smart contract. Staking occurs within farming pools which you can think of as being similar to an interest-bearing savings account. Like a lot of things in cryptocurrency, staking can be complicated or simple depending on the platforms implementation and how many levels of understanding each user wants to unlock. For a lot of traders and investors, knowing that staking is a way of earning rewards for holding certain cryptocurrencies is the key takeaway.
Even the most seasoned cryptocurrency traders never imagined they could have the capability to create their very own staking reward pools. Tangent’s Yield Farming and NFT Staking platform makes this process seamless and straight forward for all levels of user experience. A permissionless service, requiring no third-party gate keepers, means anyone can create their own Yield Farm or NFT Staking Pool with zero coding knowledge. Walkthrough staking guides and farm creation documentation for developers will be published upon mainnet launch.
The Tangent team has a commitment to open source principals and believes that using an open development model creates more stable, secure, and innovative technological advancements. Therefore, Tangent promises to periodically publish all our farming code on Github for peer-to-peer review by the community. We welcome contributors to validate our code.
We have been keen admirers and followers of ADAO’s development since Tangent was conceived and it is great to see our developers implementing their code within Tangent platform exclusively on Cardano. We hope the Tangent x ADAO collaboration be a long term cooperative success that moves the whole Cardano ecosystem forward.
Team Tangent
