MADA
MilkADA
MilkADA
MADA
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About MilkADA
MilkADA (mADA) is a wrapped version of Cardano's ADA, used primarily for transaction fees and interoperability within the Milkomeda C1 sidechain. Milkomeda enhances scalability, security, and user experience, bringing EVM capabilities to Cardano and other blockchains. Developed by a team led by Sebastien Guillemot, the protocol aims to broaden the scope of decentralised applications and improve blockchain interoperability.
MilkADA (mADA) is a wrapped version of Cardano's native cryptocurrency ADA, designed to function on the Milkomeda C1 sidechain. Milkomeda is an innovative protocol that brings Ethereum Virtual Machine (EVM) capabilities to non-EVM blockchains, enabling them to support Solidity-based smart contracts and various EVM-compatible tools. MilkADA is primarily used as the base asset for transaction fees and gas within the Milkomeda ecosystem, particularly on the Milkomeda C1 sidechain, which connects to the Cardano blockchain.
MilkADA (mADA) serves several purposes within the Milkomeda ecosystem:
- Transaction Fees and Gas: mADA is used to pay for transaction fees and gas on the Milkomeda C1 sidechain, which facilitates interoperability and smart contract functionality for Cardano.
- Interoperability: It enables seamless transfer of assets and data between the Cardano mainnet and the Milkomeda C1 sidechain. Users can send ADA to a bridge address on the Cardano mainnet and receive mADA on the Milkomeda C1 sidechain.
- Smart Contracts: mADA allows users on the Cardano mainnet to call and use smart contracts on the Milkomeda C1 sidechain without leaving the mainnet, thanks to the wrapped smart contracts feature.
- Passive Returns: Transferring ADA to the sidechain allows it to be auto-delegated to stake pools, earning passive returns while being used within the Milkomeda ecosystem.
The Milkomeda C1 Bridge is a mechanism that allows users to convert ADA from the Cardano mainnet into MilkADA (mADA) on the Milkomeda C1 sidechain. Users initiate the process by sending ADA to a designated bridge address on the Cardano mainnet. The bridge locks the ADA and issues an equivalent amount of mADA on the Milkomeda C1 sidechain. This facilitates interoperability between Cardano and the EVM-compatible Milkomeda C1, enabling the use of mADA for transaction fees, gas, and interacting with EVM-based smart contracts.
MilkADA (mADA) and the Milkomeda protocol were developed by a team led by Sebastien Guillemot, who is also a co-founder of dcSpark and Paima Studios. Guillemot has a strong background in blockchain technology and has previously held significant roles at EMURGO, a key entity in the Cardano ecosystem. The development of Milkomeda aims to enhance blockchain interoperability and scalability, bringing EVM capabilities to blockchains like Cardano, Algorand, and Solana.
