The Cardano Shelley hardfork is approaching, and we are proud to say that Bitrue is the first exchange to be fully integrated and prepared for when it drops on July 29th!
What's Shelley all about? The main difference is that it changes Cardano into a decentralized network, which distributes the power of governance and maintenance to a large number of operators. This is an important step for any cryptocurrency as it means the network cannot be controlled or manipulated by a central source, and there is no need for users to trust any central operator to act in good faith. It also makes the network more robust and increases its security.
Shelley's decentralization also gives rise to delegation and staking pools, which Bitrue will be among the first batch of organizations participating in. It means we will soon be able to offer users 7% APR on ADA investments in our 30 day lockup plans. This will be offered in accordance with the official Cardano roadmap for staking and is likely to go live around August 17th. If you'd prefer a more flexible investment, we also currently offer 3.8% APR on ADA if you invest in Power Piggy today, with daily interest payments and the option to withdraw your funds whenever you wish.
Bitrue will be making the official switchover to Cardano Shelley on July 29th at 12:30pm UTC, during which time withdrawals and deposits for ADA will not be available. We anticipate that the wallet will come back online within 24 hours.