Cardano Concludes Project Renovare as Part of Its Brand Repositioning, ADA Stabilizes at $0.1420

Project Renovare Repositions Cardano’s Brand to Accommodate Shelley. According to Elliot Hill, a communications team at Cardano, Project Renovare involves more than simply changing the brand’s outlook. It is also meant to promote the adoption of the ADA token and grow the community.

In Hill’s words;

“It is vital that both Cardano and the Cardano Foundation brand become synonymous with innovation, tenacity, and progress.”

This is line with what McCann Dublin’s David Nurse, a design expert at Cardano said about the blockchain. They wanted to make Cardano a more user-friendly and intuitive blockchain while taking the scope of Cardano’s ambitions into account. In his words;

“There is no doubt that it will take time for blockchain, in general, to be used and understood by the many rather than the few. But the positioning, creative, and framework we have created have built the foundations to allow the Cardano Foundation to do just that.”

In other news, the Cardano foundation is ready to start staking on the blockchain. So far, more than 700 staking pools have registered to stake ADA on the blockchain. The staking is scheduled to take place on the 18th of August, 2020. The development team has released a series of video guides to help people through the staking process. Even if staking is starting soon, those who participated in Shelley’s incentivized testnet are yet to receive their rewards even if the deadline has passed. IOHK hasn’t given any details regarding when these people will be able to receive their rewards.

Cardano ADA Finds Stability at the $0.1400 Level

The Cardano ADA token has found relative stability at the $0.1400 level after months of surging against the USD. At the time of writing, the price of the token was $0.142933. This means that it is down by 0.1% against the USD and down by 2.44% against Bitcoin BTC. The trading volume over a 24 hour period is $268,651,990 and the market capitalization is $3,705,829,076.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

  • Cardano Completes Project Renovare Successfully as Part of Its Brand Repositioning 
  • Cardano ADA Finds Stability at the $0.1400 Level 

Cardano is currently the blockchain with the highest level of developmental progress this year. While other blockchains have stalled due to the Covid-19 pandemic and other related issues, Cardano has continued to work on its projects over time. About one week ago, Cardano completed the Shelley hardfork successfully.

Now, the team has announced the successful completion of the Project Renovare. Project Renovare is part of a company-wide brand repositioning initiative. The completion of Project Renovare comes just in time since it was scheduled to happen while the company was migrating into the Shelley era.

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