Cardano, Terra, Polkadot: Beware of the Ponzi scheme – save who can

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Investing.com – Cardano, and fell on Monday, January 31, 2022. The fell -3.03% to $1.023, while the lost -2.27% to $48.28 and fell -4.16 % at $17.72.

Cardano: the DeFi ecosystem continues to grow

On Cardano, the DeFi sector continues to grow as another decentralized exchange (DEX) has gone live on the Mainnet.

The ADAX DEX v1.0 offers its users a fully automated and decentralized liquidity protocol. It is thus possible to exchange all ADA-based tokens, without any intermediary or order book.

Terra: the snowball system worries the community

Terra is one of the very few blockchains to have posted a loss in the last seven days. LUNA fell nearly 25% after the network stablecoin (UST) was rumored to have been widely used for a Ponzi scheme set up by a convicted scammer.

At the center of this fall is Michael Patryn. He is one of the co-founders of the QuadrigaCX crypto exchange, which went bankrupt in 2019. With this bankruptcy, $133 million also evaporated. In addition, Patryn has already spent 18 months in prison in the United States for credit fraud and computer fraud, as reported by Coingape.

We now learn that he is also co-founder of Wonderland (TIME). A platform on which one can obtain an unimaginable return of up to 13,000 percent with the abracadabra Magic Internet Money (MIM). The panic over the possibility of a pyramid scheme has led to the massive sales of the past few days.

Polkadot: new financing platform for real estate & Co

Centrifuge is the 9th winner of a Polkadot Parachain auction. According to the information currently available, operations should begin on March 11.

The platform specializes in financing non-digital real assets through a decentralized component. It should thus be possible to finance, among other things, real estate without having to call on a Bank.

By Marco Oehrl

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