Bitcoin News
By Steven Anderson
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What JPG Store Users Need to Do. Restriction Mode blocks new listings, offers, sales, and rentals.
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The Pogun Proposal and Bitcoin DeFi Plans. Pogun wants ₳12.29 million to build a Bitcoin liquidity and credit engine on Cardano.
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Cardano's biggest NFT marketplace is closing. JPG Store flipped on "Restriction Mode" April 23 and plans a complete shutdown May 23.
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The timing's pretty awkward. JPG Store served as one of Cardano's most visible consumer apps, a place where regular people actually used the chain. Now it's gone.
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Restriction Mode blocks new listings, offers, sales, and rentals. Existing orders stay live but users can't create fresh ones.
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The closure hits hard because Cardano's consumer layer isn't exactly thick with alternatives. JPG Store had name recognition and traffic.
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Pogun wants ₳12.29 million to build a Bitcoin liquidity and credit engine on Cardano. The pitch includes a non-margin credit market and a BitVM-powered bridge designed to move…
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The idea is to pull Bitcoin liquidity into Cardano's DeFi ecosystem. Cardano's total value locked is small compared to Ethereum or Solana. ADA trades around $0.
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But the vote's not going well. Only 1.04% of DReps backed it as of April 24. The proposal needs 67% approval from active voting stakeholders, and the clock runs out May 24.
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Related: BTC Eyes $80K as Negative Funding Rates Set Up Short Squeeze
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Cardano's treasury process is new. The chain transitioned governance to the Cardano Foundation recently, and this vote is one of the first big tests.
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The contrast between JPG Store's closure and the Bitcoin DeFi vote is stark. One represents existing user activity winding down.
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Some context: Cardano's been trying to position itself as a serious DeFi platform for years. The chain has smart contracts, staking, and a formal governance model.
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The treasury vote happens against a backdrop of broader market uncertainty. Bitcoin's been volatile, and altcoins like ADA have followed.
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JPG Store's shutdown doesn't help that narrative. The marketplace wasn't a DeFi protocol, but it was a consumer touchpoint.
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