Proposal: Add NEWM token to Aada Finance

Proposal Description

As an Aada finance community member, I would like to add the NEWM token to Aada V1 as an asset for lending/borrowing.

  • Approve
  • Disapprove

0 voters

projectNEWM Summary

The blockchain industry is already disrupting the traditional, financial operating systems that are generally controlled by the rich. As a corollary, projectNEWM, using blockchain technology, aims to disrupt the music industry by removing the overwhelming power of monopolizing third parties.


The projectNEWM team has a vision to create a community-owned platform that directly connects artists with their supporters; removing the middlemen and replacing them with code that’s not incentivized to make a profit. To achieve this goal, they are developing a multi-level platform powered by several decentralized services for artists to publish, distribute, directly promote, fund, and launch their music.

Project and token overview is bringing stream to the Cardano ecosystem. The NEWM token is the native utility token for

NEWM utility

  • Governance
  • In-app usage
  • Tier system and staking protocol incentives

Token data

  • Token Name: ƝEWM
  • Symbol: Ɲ
  • Total Supply: Ɲ 9,735,033,900 (+6 decimal places)
  • Blockchain: Cardano
  • PolicyID: 682fe60c9918842b3323c43b5144bc3d52a23bd2fb81345560d73f63
  • Exchanges: Minswap, Sundaeswap, Wingriders, Muesliswap

NEWM is derived from the word neume, pronounced /njuːm/, which is the basic element of Western and Eastern systems of musical notation.


The project is bringing music streaming to Cardano in the form of a DAO. Cardano is full of music lovers, and as interest in the NEWM token grows, so should the demand. Let’s make Aada Finance the first lending platform on Cardano to make NEWM available for borrowing and lending.

Adding the NEWN token to Aada Finance will enhance the selection of borrowable assets and drive awareness of the lending platform among the community.

Project website

1 Like

Insufficient liquidity.

1 Like

Interest in the NEWM token has increased over the past month and the project looks like it has the potential to add a lot of value to Cardano. So, that’s why I support offering NEWM as a borrowable/lendable option on Aada Finance. Sure, liquidity is low atm. But the project is fairly new, and if the team is successful, liquidity should increase over time.

Then the proposal should be tabled after that happens.

Same reasoning as the RJV proposal, unsafe.

I appreciate your engagement on the topic. But I think we should leave it up to the user to decide if a loan is safe or not.

Yes, through governance. We dont just approve anything here, look at cTosi, cNeta and the various other rejected assets. We look after our users :smiling_face_with_tear:

1 Like

I can see the liquidity being an issue if used as collateral, but it it an issue for borrowing?