Our Utility

The utility of the Cada network and currency will be a key driver influencing the value of the Cada currency.

The Cada coin is required to use the network in a purposeful way; the main drivers of utility for the Cada coin are:

  1. A Store of Value

  2. Value transfer

  3. The Burn

  4. Tokenization

  5. MiniDapp usage

  6. Third party partnerships & integrations

A Store of Value

The Cada coin can be used as a store of wealth over time. Unlike traditional Fiat monetary systems, the Cada coin supply cannot be inflated. In fact, due to the Burn mechanism (see The Burn), the supply is deflationary, meaning it slowly becomes more scarce over time. Coupled with Proof-of-Work backed security provided by every node in the network, and no centralized authority, the Cada coin can be considered a secure store of value.

Medium of Exchange

The Cada currency will be the primary medium of exchange on the network. All users (or devices) running nodes are able to transact directly, peer-to-peer, wherever, whenever.

The Burn

The Burn is a small cost (fee) which is incurred when sending transactions on the Cada network during times of high demand. This cost, denominated in Cadda, is ‘burned’ i.e. removed from Cada's hard-capped supply. This makes Cada a deflationary currency as the overall circulating supply slowly decreases over time. Providing demand stays the same, a deflationary currency will appreciate in value over time. For more information, see The Burn, in our Learn section.

Tokenization (including NFTs)

Cada will be required to create custom tokens or NFTs on the Cada blockchain. Custom tokens and NFTs inherit the same underlying security of the Cada blockchain and can be transacted with in the same way as Cada coins. Use cases for custom tokens and NFTs are unlimited and defined by the creator. For more information, see Coloured Coins, in our Learn section.

MiniDapps (Decentralized applications)

Cada’s decentralized applications will be the main driver of utility in the Cada network, driven by a powerful scripting language for writing smart contracts and using the widely known JavaScript, HTML and CSS to create user-friendly interfaces for people to interact with the smart contracts.

Potential uses for the Cada currency in the MiniDapp ecosystem are unlimited and will depend on the applications built by community developers but could include:

Payments: using Cada as payment for goods and services DeFi (Decentralized finance): Borrowing, lending, and using Cada as collateral DEXs (Decentralized Exchanges): Exchanging Cada/Custom Tokens/NFTs within the Cada network or cross chain DAOs: Using Cada/Custom Tokens/NFTs within the ecosystem of Decentralized Autonomous Organizations (DAOs) Gaming: Using Cada/Custom Tokens/NFTs for in-game items or currency Voting: Using Cada/Custom Tokens/NFTs to represent votes Funding: Using Cada for charity or business funding Social Media: Using Cada/Custom Tokens/NFTs for micro-payments or social status

For more information, see MiniDapps.

Third-party integrations

Partnerships with existing businesses integrating Cada into their business offerings will increase credibility and demand for the Cada network and the Cada currency.

Current pending partnerships include companies in the following industries:

  • Vehicle to vehicle communication

  • Telecommunications

  • File-sharing platform

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