Thread by @danny_cryptofay

1/n

In just very few days, we'll say hello to the latest #cardano family member, Mary. 👧

🤔 Still unsure what she's all about? Here's tweet based on @block_writer's take on this historic #ada event. 🚀

ℹ️ forum.cardano.org/t/the-impact-o…

#crypto $ada #wearegoingfornumber1

🧵Thread👇

2/n

💡 Once Mary is deployed, it will be the 1st time that users will be able to define their own CUSTOM tokens through the multi-asset ledger, adding a new layer of functionality & utility to the #Cardano blockchain.

3/n

Part of wider rollout of Goguen:

1⃣Allegra - token locking 🔒 (Dec'20)
2⃣Mary - user defined native assets 🪙 (Feb'21)
3⃣Alonzo - smart contracts 📝 (Q2'21)

Named after Mary Shelley, upgrade will be facilitated via Hard Fork Combinator (HFC) as a seamless transition.

4/n

HFC combines✌️protocols into 👆 protocol.

👉 no new token is created (sorry no airdrops either, duh)
👉 no side chain is produced
👉 no user actions is required for general $ada holder
👉 no service interruption
👉 no drama - really 😎

5/n

What impact will the Mary hard 🍴 fork have on the #ada ecosystem?

Tokens will be central & core part of many decentralised applications launching on #Cardano:

👉 utility tokens 🧑‍🌾
👉 governance tokens 👩‍⚖️
👉 tokens representing real-world assets ⛽️

6/n

What makes tokens on #Cardano extra special? 🤔

👉 tokens issued on #cardano network are NOT treated any differently to $ada by the protocol 😱 💯

🥇 which means they maintain 1st class citizen treatment.

7/n

👉 leverage almost all of #ada’s properties without need to create custom logic on top of its blockchain

👉 project tokens launched on #Cardano do NOT need smart contracts built on top of its #blockchain to be issued

👉 simplicity & low cost are 🔑 advantages

8/n

👉 logic behind the way these are created & exchanged is already baked in/part of the blockchain 🧁

👉 reduces the possibility of human error 🤓

👉 fully exchangeable from Day 1, greatly simplifying decentralized exchanges (DEX) & DeFi applications 👀

9/n

Two 🔑 differences between user minted native tokens on #cardano blockchain vs. its native token $ada will be that

1⃣ user native assets can be created & destroyed

2⃣ only $ada will be used to service fees, rewards, & deposits.

10/n

This approach introduces:

👉 better scalability
👉 better performance
👉 reduces transaction costs

....which will prove especially potent for Decentralized Finance (DeFi) platforms as it reduces costs associated with them. Currently an achilles for #ethereum based apps.

11/n

💡 Native assets also enable minting non-fungible tokens aka ‘#NFTs’.

These can be used to represent a huge range of unique real-world & digital assets. 🪙 📈 🏡

What could that look like in real world? 🤔

12/n

E.g. NFT could be minted which represents a fractional equity stake in forestry biodiversity initiative. 🌲🌳⛰️

This could be traded on digital asset exchanges & held by those looking to offset their carbon 🏭🐾 footprint via the #Cardano blockchain.

13/n

Alternatively, a #Cardano-based native #NFT could be used for creating a unique work of digital 🎨 art stored on blockchain forever. ♾

👉 Such #NFTs have seen growing popularity among #blockchain enthusiasts, with utility in both online gaming & the 🌍 of collectibles.

14/n

Native tokens representing:

👉 stablecoins 🪙
👉 wrapped assets 🍬
👉 & lending protocol utility tokens 💰

...will all be instrumental in bringing 🌍 of #DeFi to #Cardano.

💡 Most importantly, it's one of first features tailored for financially underserved communities.

15/n

💱 Imagine token that represents regional-level exchange of value for nations with highly inflationary national currencies. 📈

Could be used to pay for local goods 🍋 & services 💇 without need to use traditional limited bartering systems or trading in physical goods. 🧺

16/n

The impact & power of a user-defined currency could empower subsistence farmer. 🧑‍🌾

Such could increase their market access within the local area through easier access to liquid capital. 💪

Hence - help elevate their income & living standard. 👏

17/n

Or, it could empower a young artist 👩‍🎨 in a small village to successfully make a career out of their talents by selling their art 🖼️🗿 to a global 🌐 audience through digital tokens.

18/n

Native tokens make it easier for individuals in emerging economies to take payments for services from overseas.

These are pegged to fiat currencies as a stablecoin, such as $USDT or $AgeUSD, could facilitate the instant cross-jurisdiction settlement of assets. 💱

19/n

OR picture a freelancer from Venezuela 🇻🇪 able to accept $ stablecoin without waiting for lengthy bank 🏦 settlement times & also avoiding bolivar 📈 volatility.

20/n

By giving EVERY user the ability to generate user-defined tokens on #Cardano...

...Mary unlocks countless🚪s to a long list of new applications, limited only by their users’ imaginations. 🚀

21/n

💡 She also holds potential to empower those in emerging economies through the affordable & borderless nature of #Cardano native tokens — while simultaneously alleviating pain points associated with user-defined tokens on existing #blockchain protocols (control, fees, etc.)

22/n

To sum up:

👉 Mary brings about an orderly transition of Cardano from a single asset ledger — supporting only $ada asset — into a multi-asset ledger.

23/n

👉 New assets will be exchanged on #Cardano blockchain.

👉 Like ERC-20 tokens that can be created & transacted on #Ethereum network, native tokens will open up similar functionality for #Cardano—albeit with some fundamental differences & improvements.

24.

Community is free to unleash 🐣 their creativity & entrepreneurship when deploying tokens. What will YOU build?

👉 Will you launch #NFT?
👉 Create utility token for a unique #DApp idea?
👉 Explore #DeFi possibilities?

Start exploring here today: developers.cardano.org/en/development…