Ascend Adds Cardano Withdrawals

Ascend announced on September 3 that Cardano withdrawals are live, giving traders a choice of Cardano, Ethereum or Solana when moving funds out of their accounts.

The update expands access for Cardano users following the introduction of deposits in August. Ascend provides leveraged perpetual contracts, allowing traders to take positions on asset price movements without owning the underlying assets.

Cardano Deposits Convert Into USDC

Ascend introduced Cardano deposits on August 24, listing ADA, USDCx, $USDM and $NIGHT as supported assets. According to the project, deposited assets are automatically converted into USDC and credited to the user’s account.

Its perpetual trading guide describes BTC and ADA contracts using USDC collateral, with profits and losses settled in the same currency. This separates the asset used to fund an account from the currency used to calculate trading results.

Perpetual contracts have no fixed expiry date. Leverage increases exposure relative to the collateral deposited, with positions subject to liquidation when margin requirements are no longer met. These asset contracts are distinct from Ascend’s separate offering focused on changes in event probabilities.

Midnight Verifies Execution and Risk

Ascend announced perpetual trading on Midnight mainnet on August 16. Midnight subsequently highlighted the application on September 3, describing execution, risk and liquidation logic verified through zero-knowledge proofs without exposing the underlying positions.

The September statement therefore concerns an existing trading product rather than a new mainnet launch.

Ascend’s architecture documentation describes engines for matching orders, evaluating risk and managing account balances. Their outputs are subject to cryptographic constraints, with final state changes proven and committed on Midnight.

Under that model, users access the platform through supported blockchain environments, while Midnight provides the verification layer for trading and settlement operations.

Withdrawal Details Remain Chain Specific

The withdrawal announcement states that users can choose their destination chain. It does not identify the token delivered on Cardano, the transfer mechanism, or the applicable fees and minimum amounts.

The published perpetual trading guide describes USDC withdrawals on Ethereum and Solana. Those instructions do not establish the terms for Cardano withdrawals, and the supported deposit assets do not necessarily represent the available payout assets.

For Cardano users, the newly announced function concerns where funds can be withdrawn after trading. The account’s USDC denomination describes its internal balance and trading results; the asset ultimately delivered to a Cardano wallet remains unspecified in the announcement.