Costa Rica, October 10th - Leading cryptocurrency exchange Bitrue and the Cardano Foundation have today announced an exciting new initiative whereby the companies will be supporting the decentralization efforts of the ADA community via community stakepool contributions.
As part of this program Bitrue will be taking a portion of the ADA held in its custody and staking these funds with five community stakepool operators. Community stakepools are an indispensable element of Cardano’s security protocol and are fundamental to its ideals of decentralization, and are additionally an integral part of the organization’s community building efforts.
The stakepools that will receive staked funds are currently being nominated by the community via responses to an open call from the official Cardano Foundation platform X account. Based on the results of the nomination phase, a shortlist will be drawn up and a voting phase will be organized by Bitrue. The winners of the vote will then receive the staked funds shortly afterwards.
With this initiative,Bitrue will contribute to the decentralization and security of the Cardano network by delegating ADA to various stake pool operators (SPOs). This delegation directly supports the SPOs in validating transactions and producing blocks on the network.. .
“We’re absolutely delighted to be supporting grassroot efforts of decentralization via community stakepools, as they represent the fundamental principals that digital finance was based on - autonomy, transparency, and accessibility to ordinary people.” said Adam O’Neill, Chief Marketing Officer at Bitrue.
“When Bitrue delegates to community stake pools, it directly strengthens Cardano's core. This action enhances the network's decentralization coefficient and bolsters transaction validation resilience, fundamentally securing and distributing power across the entire ecosystem.” said Jide Fashola, Global Financial Infrastructure Lead , at Cardano Foundation.
To ensure full transparency, the status of the staked funds will be publicly viewable at all times through various community tools such as Cexplorer.io.
Bitrue and the Cardano Foundation have a well-established history of collaboration, significantly contributing to the Cardano ecosystem's growth. Our joint efforts span several key areas:
Open-Source Contributions: Bitrue demonstrated its commitment to the wider ecosystem by open-sourcing its Cardano integration code. This move directly assists other exchanges in streamlining their ADA adoption, fostering broader accessibility and liquidity for the asset.
Pioneering Cardano Native Asset Listings: Bitrue distinguished itself as the **first exchange to list Cardano Native Assets**. This action provided crucial early liquidity and visibility for tokens built on the Cardano blockchain, supporting the burgeoning ecosystem of decentralized applications and projects.
Active Participation in the Cardano Summit: Bitrue has consistently engaged with the community and industry as a **guest speaker for multiple years at the Cardano Summit**. This annual gathering unites professionals and enthusiasts to discuss the latest developments and future trajectory of the Cardano ecosystem, underscoring Bitrue's ongoing involvement and insights.
Bitrue and Cardano are continually exploring avenues for further collaboration within the Cardano ecosystem. We are focused on fostering innovative advancements that will benefit the community and strengthen the network's future.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans, and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. It has offices in Asia and Europe and continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available on Bitrue's website.
About Cardano Foundation
The Cardano Foundation, an independent, Swiss-based non-profit organization, serves as a cornerstone in the evolution and advancement of the Cardano blockchain. It is driven by core values that emphasize collaboration, innovation, integrity, transparency, inclusivity, and sustainability, actively engaging with a diverse range of stakeholders—from businesses and governments to individual developers and vibrant communities—to foster broad adoption and tangible real-world utility for the Cardano ecosystem.
The Foundation's strategic impact is deeply rooted in its focus on three critical pillars:
Operational Resilience: This pillar is dedicated to ensuring the Cardano blockchain remains a robust, secure, and highly reliable public digital infrastructure. This involves continuous efforts in network monitoring, supporting essential protocol upgrades, enhancing infrastructure diversity, and collaborating on initiatives that bolster the network's long-term stability and resistance to disruption. The aim is to guarantee Cardano's capacity to serve as a dependable backbone for global applications, capable of withstanding various challenges and maintaining consistent performance.
Education: Committed to fostering a comprehensive and accessible understanding of blockchain technology, specifically within the Cardano context, this pillar empowers individuals and organizations with vital knowledge and resources. The Foundation develops diverse learning programs, publishes in-depth guides, and engages with stakeholders across all levels of technical expertise. This proactive approach cultivates a knowledgeable community, driving informed participation and accelerating the adoption of Cardano's capabilities.
Adoption: This pillar strategically focuses on cultivating the optimal conditions for the widespread and diversified integration of Cardano across various industries and real-world use cases. This includes actively fostering the development of innovative applications, improving essential tooling for developers, and facilitating key collaborations that streamline the onboarding process for businesses and developers alike. The goal is to lower barriers to entry and demonstrate Cardano's versatility in addressing complex global challenges.
The Foundation's overarching governance model is meticulously guided by principles that champion accessibility, decentralized decision-making, paramount security, robust scalability, economic sustainability, and open education—all underpinned by a commitment to open-source, community-driven development. This holistic approach ensures Cardano continues its trajectory as a truly decentralized and impactful blockchain platform.
More information is available on Cardano Foundation's website.
This post is commissioned by Bitrue and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
