SpinADA, which is Cardence’s first IDO project, will list on PancakeSwap on November, 3 at 1700 UTC.
It is the first decentralized private transaction protocol for the Cardano network. Massive gains are expected for early entrants at the time of listing as there is a lot of hype around this project after Steve Wozniak made a call for it.
SpinADA.Cash is fully incubated by Cardence and its IDO is finished in 6 minutes on the Cardence platform. Its IDO was also featured in the CoinMarketCap ICO calendar.
SpinADA.cash came to prominence after Apple Co-Founder Steve Wozniak shouted out for the project and supported the project.
SpinADA.cash is a fully decentralized protocol for private transactions on Cardano, which breaks the on-chain link between senders and receivers of Cardano native tokens on the blockchain. This gives complete privacy and security in a completely decentralized manner.
SpinADA.cash uses a Zero-Knowledge proof protocol known as zk-SNARK, developed by the good fellows at Zcash, and firstly implemented by tornado.cash on Ethereum, to ensure secure anonymous transactions of Cardano assets on the blockchain.
It features a Smart contract that accepts Cardano tokens and then allows anyone with proof of knowledge to withdraw those tokens through the use of cryptographic keynotes.
When a sender submits a transaction, he receives a keynote and a corresponding hash is received by the Smart Contract. When a withdrawer furnishes the right keynote, it is matched with the hash to output the corresponding submitted tokens.
Protocol parameters will be governed by the community. A trusted setup ceremony for zk-SNARK will be organized through community participation to further decentralize the protocol.
SpinADA is the latest offering from the game-changing Cardence.io platform, which allows investors early access to invest at IDOs, before public release. More information on SpinADA is available on spinada.cash or join the Telegram group.
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